Glycerin Market Growing at a CAGR of 6.8% During 2016 to 2021 - ReportsnReports
PUNE, India, May 2, 2017 /PRNewswire/ --
The global glycerin market is expected to reach $3.12 billion by 2021 from $2.19 Billion in 2015 growing at a CAGR of 6.8% between 2016 and 2021. Demand for technical grade is expected to witness the fastest growth over the next five years led by Asia-Pacific region.
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The global glycerin market is projected to reach $3.12 billion by 2021, at a CAGR of 6.8% from 2016 to 2021, in terms of value.
The global glycerin industry is witnessing growth due to increasing applications, technological advancements, and increasing demand in the Asia-Pacific region, mainly from China, India, and South East Asia. The single most long term growth potential for glycerin in the personal care segment is from the rapid urbanization, increasing disposable incomes, and growing preference for natural ingredients among consumers. However, oversupply and low profitability may hamper the growth of the glycerin market.
The key players considered in the glycerin market research report are Emery Oleochemicals, IOI Oleochemicals, Wilmar International, KLK Berhad, Godrej Industries, Croda International Plc, Cargill Incorporated, P&G Chemicals, Kao Corporation, Avril Group and Others.
The Asia-Pacific glycerin market is expected to witness high growth during the forecast period. Factors influencing the demand in chemical intermediates manufacturing in the Asia-Pacific region include an increasing demand for glycerin as a platform chemical, especially from China, which is expected to boost demand. Population growth coupled with increasing disposable incomes in the region is also expected to lead to an increase in demand for glycerin in oral care, personal & beauty care, and cosmetic products.
Technical grade glycerin is a refined and purified product, and requires the glycerin to be minimum 98% pure, with no traces of methanol, salts, or any other contaminants. Technical grade glycerin acts as a platform chemical for the production of chemical intermediates. Increased use of chemicals such as 1,3 propanediol, alkyd resins, propylene glycol, and epichlorohydrin in end-use industries such as tobacco, furniture, construction, and paint & coatings is expected to drive the technical grade glycerin market.
The industrial applications represent the bulk of the demand for glycerine. High demand for glycerin in toothpaste, facial creams, and other cosmetics is expected to benefit its market in the personal care industry during the forecast period. Glycerin is used for pharmaceutical and medical preparations, mainly as means for improving smoothness, providing lubrication, and humectants. It is used in cough syrups, elixirs, and expectorants. Glycerin is used for excipient uses only in the personal care industry, and serves as a humectant, solvent, and lubricant. It is used as a moisturizing agent in facial creams and other cosmetic products to keep the skin soft and replace skin moisture. It is the basic media for toothpaste which maintains its desired smoothness and viscosity and gives shine to the paste.
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This report covers the glycerin market, both, in terms of volume and value, and forecasts the market size till 2021. The report includes the market segmentation based on process, source, grade, application, and region. It also provides company profiles and competitive strategies adopted by the key players in the global glycerin market.
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