Dublin, Oct. 02, 2023 (GLOBE NEWSWIRE) -- The "Glycerin Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global glycerin market reached a substantial valuation of US$ 2.0 Billion in 2022 and is on track to achieve even greater heights. By 2028, the market is projected to reach US$ 2.8 Billion, with a robust compound annual growth rate (CAGR) of 5.6% expected during the period from 2023 to 2028.
Glycerin: A Versatile and Essential Compound
Glycerin, a trihydroxy alcohol derived from vegetable oils or animal fats, is a versatile compound with clear, colorless, odorless, and hygroscopic properties. It boasts numerous antimicrobial characteristics and plays a vital role in various applications. Glycerin is renowned for its ability to hydrate the skin's outer layer, enhance skin barrier function, provide protection against irritants, and expedite wound-healing processes. As a result, it finds widespread use in the formulation of skincare products globally.
Key Market Trends
Several noteworthy trends are shaping the growth of the glycerin market:
- COVID-19 Response: The ongoing COVID-19 pandemic has fueled the demand for glycerin, particularly in the manufacturing of hand sanitizers, soaps, hand washes, and detergents. Glycerin's ability to preserve moisture in products is critical for preventing them from drying out.
- Personal Care Products: Glycerin is extensively used in personal care products such as toothpaste, shaving creams, and skin and hair products. It acts as a denaturant, fragrance ingredient, oral care agent, hair conditioner, skin protectant, and viscosity-decreasing agent.
- Food and Beverage Industry: Glycerin serves various roles in the food and beverage (F&B) industry, including humectant, solvent, preservative, and sweetener. Its applications in the F&B sector are expanding.
- Industrial Applications: Glycerin is utilized as a polymer building block to produce alkyd resins and polyurethanes, used in paints, inks, and coatings.
- Pharmaceutical Industry: The thriving pharmaceutical industry is a significant consumer of glycerin.
- Biodiesel Demand: The increasing demand for biodiesel production further contributes to the glycerin market's growth.
Key Market Segments
The comprehensive report segments the glycerin market based on various parameters:
- Process: Transesterification, Saponification, Fat Splitting
- Grade: USP Grade, Technical Grade
- Source: Biodiesels, Fatty Acids, Others
- Application: Pharmaceuticals, Food and Beverages, Personal Care and Cosmetics, Industrial Chemicals, Others
- Region: North America, Asia-Pacific, Europe, Latin America, Middle East and Africa
Competitive Landscape
Key players in the glycerin market include Archer-Daniels-Midland Company, Avril Group, BASF SE, Cargill Incorporated, Croda International PLC, Emery Oleochemicals (PTT Global Chemical Public Company Limited), Godrej Industries Limited, IOI Corporation Berhad, Kao Corporation, Kuala Lumpur Kepong Berhad, Louis Dreyfus Company B.V., The Procter & Gamble Company, Wilmar International Limited, and more.
Key Questions Answered in This Report:
- How has the global glycerin market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global glycerin market?
- What are the key regional markets?
- What is the breakup of the market based on the process?
- What is the breakup of the market based on the grade?
- What is the breakup of the market based on the source?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global glycerin market and who are the key players?
- What is the degree of competition in the industry?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 147 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $2 Billion |
| Forecasted Market Value (USD) by 2028 | $2.8 Billion |
| Compound Annual Growth Rate | 5.8% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/f9l7t9
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