Glycerine Market Analysis is Estimated to Grow at a CAGR of 4.8% by 2030 | ChemAnalyst

by ChemAnalyst
Glycerine Market

According to ChemAnalyst report, “Glycerine Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, Glycerine market has witnessed significant growth as it reached 2.5 million tonnes in 2020 and is anticipated to achieve a healthy global CAGR of 4.8% in the forecast period until 2030. With the rapidly growing demand of Glycerine for the manufacturing of various products like moisturizer, shampoo, dishwasher and laundry detergent, toilet cleaning gel, toothpaste, shaving cream, cleaning wipes, etc. by the major end-use industries including cosmetics, pharmaceuticals, pulp and paper, and others is likely to boost the Glycerine market across the globe in the span of next ten years. The production of Glycerine is highly associated with the safety standards on human health and environment, before it can be introduced into the market, which further enhances the standard compliance.

Glycerine also known as Glycerol, is a simple compound of Polyol with the chemical formula C3H8O3. It is an odorless, colorless, and sweet-tasting viscous liquid which is remarkably non-toxic in nature. Glycerine is extensively utilized as a humectant in the formulation of cosmetic and pharmaceutical products, and as a sweetener in food and beverages industry. Glycerine is composed of hydroxyl groups that are responsible for its hygroscopic nature and its solubility in water. It is generally synthesized from plant and animal sources where it is present in triglycerides, esters of glycerol with long-chain carboxylic acids. The hydrolysis, transesterification or saponification of these triglycerides result in the production of Glycerine. It can also be produced by different routes of propene.

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Due to the versatile antimicrobial and antiviral properties of Glycerine, it is widely utilized in the preparation of cosmetic, pharmaceutical and personal care products as a means of improving smoothness, providing lubrication, and treating skin damage. Glycerine also finds its applications in allergen immunotherapies, elixirs and expectorants, cough syrups, glycerine soaps and detergents, and water-based personal lubricants. Nitro-glycerine is among the most commonplace treatment for treating chronic angina, the chest pain caused by heart disease. The medication of Glycerine is widely used as a moisturizer in order to treat or prevent dry, rough, scaly, itchy skin and minor skin irritations in the healthcare industry.

Global Glycerine Market is segmented on the basis of type, application, end, sales channel and region. Depending upon the applications, the global Glycerine market is segregated into pharmaceuticals, cosmetics, food & beverages, automotive, polyether polyols, personal care, and others. Exponentially increasing demand of Glycerine to manufacture cosmetic and skincare products as it is very good for skin and helps in repairing the skin barrier and reducing trans epidermal water loss, is the boosting the Glycerine market especially in emerging countries like China. The growth of cosmetic and healthcare industry was seen at a robust rate in the past few years and is anticipated to achieve an impressive rate in the future as well. Increasing awareness regarding health and hygiene is further propelling the demand of Glycerine by the medical and healthcare industry and is likely to accelerate the Glycerine market around the world in upcoming years. Rising demand in the food & beverage industry, to use Glycerine as a sugar substitute and for preserving food items is expected to bolster the Glycerine market in the next few years. A substantial increase in the demand of Glycerine for various medical and pharmaceutical applications is expected to drive the Glycerine market globally in the future. Based on type, the global Glycerine market is segmented into technical grade and pharmaceutical grade. Continuously growing demand of refined and purified glycerine for the manufacturing of pharmaceutical, personal care, and food & beverage products is likely to fuel the demand of technical and pharmaceutical food grade Glycerine over the next few years.

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The Glycerine market witnessed a negative affect globally due to the outbreak of coronavirus. Leading authorities in several countries imposed strict social distancing norms and countrywide lockdowns which resulted in the major decline in demand and sales of Glycerine in the first half of 2020. The deadly coronavirus pandemic altered the cosmetic industry across the globe. However, there was a surge in the demand of Glycerine during the covid times in the pharmaceutical and healthcare industry due to the increased demand of sanitizers, soaps, handwash, and detergents.

Among different regions, the Asia Pacific region holds the largest share of the Glycerine market across the globe due to the continuously growing demand of glycerine by the major end-use industries including cosmetics and healthcare, in emerging countries such as China and India. China being one of the largest consumers of Glycerine, is developing and expanding the Glycerine manufacturing units owing to the increasing demand of cosmetic and healthcare products, which will further boost the Glycerine market in the Asia Pacific region.

Major Players:

  • BASF SE,
  • Croda International Plc,
  • DowDupont,
  • Huntsman Corporation,
  • Pilot Chemical Company,
  • Shanghai Fine Chemical Co., Ltd,
  • Galaxy Surfactants,
  • SEPPIC S.A.,
  • LG Hosehold & Healthcare Ltd.,
  • Emery Oleochemicals,
  • IOI Oleochemicals,
  • Wilmar International,
  • KLK Berhad,
  • Godrej Industries

“Growing demand of Glycerine from the major end-use industries including cosmetics, pharmaceutical, healthcare, and others to manufacture a wide range of products is expected to accelerate the Glycerine market across the globe in the next ten years. Rising awareness regarding hygiene in several countries is propelling the demand of Glycerine around the world. In India, Initiatives such as Swachh Bharat Abhyan, is taken into consideration in order to promote health and hygiene, which is likely to boost the Glycerine market in the future.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.

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