Glycerin Market

This research study by PMR (Persistence Market Research) on the global glycerin market offers a ten year forecast for the glycerin market for the forecast period 2018-2028. To estimate the market value of glycerin, we have considered FY2017 as the base year and market values have been estimated keeping in mind the trends, driving factors and key developments by key market participants. The Compound Annual Growth Rate (CAGR) for glycerin has been derived for the period 2018 to 2028. 

Glycerin is a common humectant that is used in various end-use sectors, including Personal Care, Pharmaceuticals, Chemical and Industrial, among others. The global manufacturers of glycerine provide glycerine either in the crude form or the refined form, both of which differ in terms of purity. Furthermore, the availability of glycerin in both Pharma & Food grade and Technical grade expands its range of applications.      

This global glycerin market report consists of 20 sections that elaborate market numbers in terms of volume in Tons and value in US$ at regional and global levels. The first section of the global glycerin market report covers executive summary that elaborates on the trends being witnessed in the market from supply side as well as demand side. The next section covers the global glycerin market introduction, including taxonomy by form, grade, source and application, definitions of the segments considered and other information relevant to the market.

In the next section of the global glycerin market report, we have included market viewpoints, including macroeconomic factors, PESTLE analysis, porter’s analysis, value chain analysis along with the list of distributors, manufacturers and end-users, import-export analysis of glycerin and supply-demand scenario of glycerin.

The fourth section of the global glycerin market report includes the global industry analysis by volume and value, along with pricing analysis for North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East & Africa. The Fifth section of the global glycerin market report includes qualitative as well as quantitative analysis of the glycerin market by every segment of the market.

This glycerin market report focuses on analysing the market opportunities and getting a detailed understanding of the glycerin market. The glycerin market report elaborates on the regional analysis, market dynamics, market structure and competition landscape of the glycerin market for the next ten years i.e. 2018-2028. 

Each section of the glycerin market report includes qualitative and quantitative assessment of the market on the basis of historical data or developments and facts and key opinions collected from various end-use industry participants through primary interviews, annual reports, newsletters, press releases, etc. The report on the global glycerin market studies some of the major players in the glycerin market, such as Aekyung Petrochemical Co., Ltd., Aemetis, Archer Daniel Midland, Cargill, Incorporated, Emery Oleochemicals, and Kao Corporation among others.

Research Methodology

The initial stage of the research study included the formulation of assumptions, which are necessary for primary and secondary research. Further stages of research involved triangulation of data collected from these two approaches. To analyse the Global glycerin market trends and opportunities for glycerin manufacturers, the Global glycerin market has been segmented on the basis of form, grade, source, application and regions.   

For the analysis of consumption, we have considered FY 2017 as the base year. Basic data was collected from manufacturers’ annual reports, newsletters, public reports published by government as well as private agencies, World Bank’s sources, Trade Map sources, etc. Further, the collected data was validated through primary research techniques that involved manufacturers, distributors, end-user procurement agencies and regional representatives.

For final analysis of market data, we considered demand side as well as supply-side drivers and trends in various regional markets. We have forecasted the market data on the basis of key developments, regional trends and production – consumption scenario of glycerin. For the forecasting of market data, we have considered the historic data for the period 2013-2017. 

Global Glycerin Market – Key Research Findings

1. The global glycerin market was valued at around US$ 2,998.4 Mn in 2018 and is estimated to grow with a 5.1% CAGR over 2018–2028.
2. In terms of consumption, East Asia and South Asia are expected to register high value and volume growth in the glycerin market over the forecast period.
   • Healthy growth of industries such as personal care, food & beverage and pharmaceutical, among others in China is the key driving factor for the growth of the glycerin market.
   • Moreover, low production cost, labor cost and lenient regulations in these regions are encouraging manufacturers to expand their manufacturing facilities in these regions, which in turn is expected to drive the demand for glycerin.
3. Europe and North America markets are estimated to register moderate growth in the glycerin market over the forecast period.
   • Growing preference towards the -based or natural contented personal care products is the prime factor driving the demand for glycerin.
4. Around the globe, the increasing use of biodiesel as a fuel and mandatory blending with petroleum diesel in several countries are compelling biodiesel manufacturers to expand their production capacities. As glycerin is a by-product of biodiesel production, there has been significant growth in glycerin production around the globe.
   • According to the US Department of Energy, global biodiesel consumption was pegged at around 35.7 Mn Tons in 2017, of which around 89% of biodiesel was produced through the trans-esterification process, translating to 2.3% Y-o-Y growth in glycerin production.
   • Moreover, according to the U.S. Energy Information Administration, the U.S. produced around 5.3 Mn Tons of biodiesel in 2018, registering a 12% increase over 2017.
5. Pharma and Food Grade Glycerin to Hold Lion’s Share of Market
   • The increasing demand for refined and purified glycerin in the manufacturing of personal care, pharmaceutical and food & beverage products, coupled with stringent regulations pertaining to the quality of products, is expected to result in an increase in the demand for pharma & food grade glycerin around the globe.

Top Two Factors Driving the Glycerin Market

• Growing Demand for Cosmetics and Personal Care Products
  • Steady economic growth in developing countries, such as China, India, Brazil and ASEAN countries and rising per capita disposable income and expenditure in these regions are the major factors expected to drive the market for consumer products such as cosmetics and personal care, among others. As glycerin is used as a humectant in the production of cosmetics and personal care products, the demand for these products around the world is expected to drive the glycerin market.
• Upsurge in Demand from Food & Beverage Industry
  • With changing lifestyle and eating habits in developing and developed regions, the demand for fast-foods or convenience foods is increasing. According to a report published by the U.S. Department of Agriculture in 2018, more than 30% of Americans prefer fast food that is readily available over traditional food. Thus, this rise in the demand for fast food products around the globe is expected to drive the demand for additives such as glycerin for use as sweeteners, solvents or preservatives.
• Increasing Production in Pharmaceutical Industry
  • The global healthcare landscape has been changing rapidly and people are spending more on health related needs. With people getting more health conscious and the increasing ageing population, the demand for pharmaceuticals has been increasing around the globe, which in turn has been leading to the high consumption of pharmaceutical ingredients and raw materials. Thus, with this increase in the production of pharmaceutical products, the demand for raw materials such as glycerine is expected to increase over the forecast period.

  

  Glycerin Market Structure Analysis

  • The global glycerin market is highly consolidated as a significant share of market is held by Tier-1 players.
  • Moreover, disparity in raw material prices for glycerin has been observed in developed and developing regions. In developed regions, biodiesel dominates the glycerin market as a source of glycerin whereas in developing regions, fatty acid and alcohol dominates the market as a source of glycerin.
  • Top companies operating in the glycerin market include Aekyung Petrochemical Co., Ltd., Aemetis, Archer Daniel Midland, Cargill, Incorporated, Emery Oleochemicals, and Kao Corporation among others.
  • Several key players maintain strategic focus on East and South Asia markets and the report has been incorporated with the strategic developments of key players to help manufacturers make strategic decisions.

Company Profile

• BASF SE
• DowDupont
• Croda International Plc
• Huntsman Corporation
• Shanghai Fine Chemical Co., Ltd
• Pilot Chemical Company
• Galaxy Surfactants
• SEPPIC S.A.
• LG Hosehold & Healthcare Ltd
• Others