Glycerol Market to Advance at CAGR of 6.3% During 2021-2031, Asserts TMR Study

ALBANY, N.Y., March 14, 2022 /PRNewswire/ -- The use of glycerol has considerably expanded in cosmetic, pharmaceutical, and food applications, spurring the production volumes in the glycerol market. Predominantly obtained as a by-product of bio-diesel production, supply has proliferated over the years independently of the demand. The global valuation of the glycerol market is projected to reach US$ 454.1 Bn by 2031.

Rise in investments by firms in cosmetics and personal care product manufacturing has spurred the demand for glycerol, expanding the avenue for the growth of the glycerol market. Massive utilization of glycerol in several industries has made it a popular platform chemical. Its use as GRAS (generally recognized as safe) additive and its increased popularity as natural constituent are propelling the utilization of glycerol in the food & beverages industry as a solvent.

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The use of the chemical in a number of personal care products and pharmaceuticals are generating massive profitable avenues for firms in the glycerol market, find the analysts in an in-depth TMR study. Additionally, its steady use in textile and healthcare industries has helped boost the revenue streams for players in the glycerol market.

Key Findings of Glycerol Market Study

• Use in Skin Care Products to Offer Value-grab Opportunities: The use of glycerol has risen in a wide range of personal care products such as toothpaste, hair care products, soaps, and increasingly in skin care products. The demand from the personal care industry is expected to proliferate, thus fueling the revenue potential in the glycerol market. Of note, glycerol has been popularized as a moisturizing agent in several skin care products. Thus, thriving sales of moisturizing skincare products in developing economies have catalyzed revenue growth, assert the analysts in a detailed assessment of the glycerol market.

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• Multiple End-use Industries Benefit from Unique Properties: Rise in demand for glycerol in multiple industries has steered the valuation growth of the market, finds the in-depth TMR study. Moreover, it has therapeutic benefit in patients with glaucoma and for cerebral edema. Of note, biodiesel-derived glycerol has witnessed predominant use to cater to the demands in various end-use industries.
  
  
• Application in Food & Beverages Industry to Catalyze Revenue Gains: Products in the glycerol market are growing in utilization in commercially prepared low-fat foods. In addition, its use as humectant, sweetener, and solvent in food & beverages industries has generated sizable sales.

Glycerol Market: Key Drivers

• Glycerol purification methods have undergone continuous advancements over the years, making its production more cost-effective. Subsequently, the chemical's use has become more versatile than ever, where end-use industries are benefitting from the bevy of chemical, physical, and biological properties.
• Growing commercial value of the glycerol in various industrial applications has nudged manufacturers to expand their units across the globe, thereby underpinning the revenue potential in the glycerol market.

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Glycerol Market: Regional Growth Dynamics

• Asia Pacific is anticipated to hold a major share of the global glycerol market during the forecast period of 2021–2031. The opportunities have been fueled by strides made in personal care and cosmetics industry across the region.
• The use in several applications has also proliferated especially in emerging economies, thus expanding the valuation of the Asia Pacific glycerol market.

Glycerol Market: Prominent Companies

Some of the key players in the glycerol market are Sofiproteol Group, Godrej Industries Ltd., Dow Chemicals, Wilmar International, Croda, Kuala Lumpur Berhad, Emery Oleochemicals, IOI Group, and P&G Chemicals.

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Global Glycerol Market: Segmentation

Glycerol Market, by Production Source

• Biodiesel
• Fatty Acids
• Fatty Alcohols
• Soap Industry

Glycerol Market, by Application

• Personal Care and Pharmaceuticals
• Alkyd Resins
• Foods and Beverages
• Polyether Polyols
• Tobacco Humectants
• Others (including Explosives, Textile, and Paper)

Glycerol Market, by Region

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• U.K.
• Italy
• Russia & CIS
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• ASEAN
• Rest of Asia Pacific
• Latin America
• Brazil
• Mexico
• Rest of Latin America
• Middle East & Africa
• GCC Countries
• South Africa
• Rest of Middle East & Africa

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