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| Global Glycerol Market Scope |
Glycerol is a by-product of biodiesel production and has various industrial
applications. Glycerol is used as a humectant in pharmaceutical, cosmetic and
food industries. It is also used in various chemical intermediates and
solvents. The global glycerol market size is driven by increasing biofuel
production as glycerol acts as a by-product of biodiesel manufacturing.
The global
glycerol market is estimated to be valued at US$ 3.15 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period
2023 to 2030, as highlighted in a new report published by Coherent Market
Insights.
Market key trends:
Biofuel demand is one of the major market trends shaping the glycerol industry.
With the growth in biodiesel production, the supply of crude glycerol as a
by-product is also increasing. Glycerol produced from biodiesel manufacturing
accounts for nearly 60% of the total glycerol supply globally. Stringent
environmental policies promoting the use of biofuels in transport fuel is
anticipated to drive the global biodiesel market during the forecast period. As
biodiesel production rises to comply with regulatory mandates for biofuel
blending, the availability of crude glycerol is expected to accelerate, thereby
fuelling the growth of glycerol market over the coming years. The increasing
availability of crude glycerol will boost its consumption across various
end-use industries like pharmaceuticals, personal care products, food and
beverages.
Segment Analysis
The global glycerol market is dominated by the personal care &
pharmaceutical sub-segment. Glycerol or glycerin finds wide application in
personal care and pharmaceutical products owing to its excellent moisturizing
and humectant properties. It is used extensively in skin care creams, hair care
products, face washes, cough syrups, etc. Glycerol effectively traps moisture
in the upper layers of the skin and hair, keeping them hydrated for longer
durations. This unique trait has fueled the demand for glycerol from personal
care and pharmaceutical manufacturers.
Key Takeaways
The Global
Glycerol Market Scope is expected to witness high growth over the
forecast period of 2023 to 2030. Regional analysis related content comprises:
The Asia Pacific region currently dominates the global glycerol market and is
expected to maintain its leading position during the forecast period. Rapid
industrialization coupled with growth in personal care, food & beverage and
pharmaceutical industries in China, India and Southeast Asian countries is
driving glycerol demand in the region. Glycerol producers are strategically
expanding their manufacturing facilities across Asia to cater to the rising
local demand.
Key players related content comprises
Key players operating in the glycerol market are dbWatch AS, eG Innovations,
Heroix Corporation, Nagios Enterprises, LLC, Paessler AG, Quest Software Inc.,
Red Gate Software Ltd., Sematext Group, SolarWinds Worldwide, LLC, and
VirtualMetric. dbWatch AS offers glycerol-based products catering to diverse
industries including food, personal care, chemicals, etc. The company has a
strong distribution network spread across major markets in Asia, Europe and
North America.
The global glycerol market is fragmented with the presence of several
international and regional manufacturers. Strategic collaboration and new
product launches are some of the key strategies adopted by leading players to
gain market share and strengthen their global footprint in this rapidly
expanding market space.
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