Wilmington, Delaware, United States, Sept. 14, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The glycerol carbonate market was estimated to have acquired US$ 1.19 billion in 2021. It is anticipated to register a 7% CAGR from 2020 to 2030 and by 2030, the market is likely to gain US$ 2.5 billion.
A sustainable method for producing large quantities of detergents and healthcare items is the conversion of glycerol to epoxy propanol. Epoxy propanol is often made by epoxidizing allyl alcohol with hydrogen peroxide or, alternatively, by treating epichlorohydrin with a caustic substance.
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Both of these processes result in the generation of harmful byproducts like hydrochloric acid, necessitating expensive purification procedures for EP manufacturing in order to stop acid leftovers from contaminating the environment. The manufacturing of EP via the conversion of glycerol into glycerol carbonate is receiving a lot of attention in the glycerol carbonate market.
Global Glycerol Carbonate Market: Key Players
Manufacturers are concentrating on increasing their production capacity for the purpose of meeting the demand for glycerol carbonate in solvents and medicinal applications.
The following companies are well-known participants in the global glycerol carbonate market:
- Huntsman International LLC
- Eurisotop [Cambridge Isotope Laboratories, Inc. (CIL)]
- UBE Industries India Private Ltd.
- Inkemia Green Chemicals Inc.
- TCI Chemicals (India) Pvt. Ltd.
- Carbone Scientific Co., Ltd.
- Acros Organics B.V.B.A. (Thermo Fisher Scientific Company)
- GLACONCHEMIE GmbH
- ANHUI MEISENBAO CHEMICAL CO., LTD.
Key developments in the global glycerol carbonate market are:
| Market Player | Year | Key Developments |
| Perstorp Holding AB | 2022 |
|
| BASF SE | 2021 |
|
Key Findings of the Market Report
- With a 25% market share, solvents dominated the worldwide glycerol carbonate market in terms of application in 2019.
- In terms of end use, plastics dominated the worldwide glycerol carbonate market in 2019, accounting for more than 30% of the market.
- Asia Pacific held a significant proportion of the worldwide glycerol carbonate market in terms of volume in 2019.
- Between 2020 and 2030, the market in the area is anticipated to grow at a CAGR of around 7.5%.
Market Trends for Glycerol Carbonate
- Key uses for glycerol carbonate include gas membrane separation. A chemical compound shows promise because of its exceptional chemical characteristics. It has a remarkable capacity for biodegradation, a high boiling point, and has minimal toxicity.
- Many industrial applications directly employ glycerol carbonate as an intermediary. The glycerol ester molecule has low VOC solvent characteristics. Lithium-ion batteries mainly use ester carbonate compounds as additions. In the cement and concrete industries, glycerol carbonate is utilized as a curing agent.
- Glycerol is emerging as a viable substance for environmental protection due to its potential as a low-volatile organic compound solvent. Glycerol carbonate also contributes significantly to the production of polyurethanes as well as polycarbonates.
- Another possible intermediary for the synthesis of plastic surfactants, resins, and polymers is glycerol carbonate. It functions as a brand-new solvent in the production of various products. In the paint business, it serves as a non-volatile solvent as well.
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Global Market for Glycerol Carbonate: Regional Outlook
Various reasons are propelling the growth of the glycerol carbonate market in different countries. These are:
- The Asia Pacific's demand for glycerol carbonate is expected to rise throughout the forecast period, owing to substantial expansion in the use of plastics, cement, and detergents in Asia Pacific. The market in Asia Pacific is anticipated to keep growing quickly during the forecast period as a result of the rise in demand for glycerol carbonate in the region's different end-use industries, including fuel, paints & coatings, and lithium-ion batteries.
- Governments in the United States and Europe have announced mandatory guidelines for the use of biodiesel within the transportation industry. This has increased demand for biodiesel in the United States and European glycerol carbonate markets. It is predicted that the market will grow to a worth of US$ 2.4 billion by 2030.
- Biofuel has been rising in favor as a replacement for fossil fuels. Firms are becoming adept at improved conversion techniques to turn glycerol into useful goods. Manufacturers of glycerol carbonate often utilize selective oxidation, polymerization, etherification, and reduction as conversion processes.
Global Glycerol Carbonate Market Segmentation
Application
- Solvents
- Fuel Additives
- Monomers
- Chemical Intermediates
- Others (including Concrete Mineral)
End Use
- Detergents
- Cements
- Fuels
- Paints & Coatings
- Plastics
- Others (including Cosmetics and Personal Care)
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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