Glycerol Market: Introduction
Transparency Market Research delivers key insights on the global glycerol market. In terms of revenue, the global glycerol market is estimated to expand at a CAGR of 6.3% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecast in its report on the global glycerol market.
The global glycerol market is broadly affected by several factors including increase in usage of glycerol in various end-use industries such as cosmetics & personal care, food & beverages, pharmaceuticals, health care, and others. Rise in global demand for glycerin has led to significant growth in usage of glycerol. Increase in production and demand for glycerol in personal care and pharmaceutical industries is expected to be the primary driver of the global glycerol market. Growth of the food & beverages industry is also propelling the demand for glycerol across the globe.
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Glycerol Market: Dynamics
Glycerol is used as a solvent for flavors and food colors. It is also used as a humectant, plasticizer, emollient, sweetener, and filler in low-fat food products such as cookies. It is used in the manufacture of dynamite and propellants (nitroglycerol), cosmetics, candy, liqueurs, printing and copying inks, lubricants, pharmaceuticals (suppositories, cough syrups, elixirs, expectorants, and cardiac medications), personal care products (toothpaste, mouthwashes, skin care products, hair care products, and soaps), and antifreeze products. Glycerol is also used to keep fabrics pliable, and cellophane and special quality papers flexible and tough.
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Earlier, glycerol was obtained as a byproduct from the manufacturing of soaps or fatty acids by saponification of fats. Currently, it is mostly obtained as a byproduct of biodiesel. Glycerol has wide industrial applications. Some of the areas of application include food, pharmaceuticals, personal care, storage, and health care industries.
Growth of the global biodiesel industry in recent years has led to overproduction of glycerol globally. Glycerol is majorly obtained as a byproduct of biodiesel production via transesterification process. Presently, about 65% of glycerol is obtained as a byproduct of bio-diesel production. In the saponification process, alkali salt is added to oil or fat, precipitating soap, and glycerol as a byproduct. In the transesterification process, glyceride is reacted with an alcohol in the presence of catalyst to obtain a new ester and glycerol as byproduct. Bio-diesel production is also a transesterification process and crude glycerol is obtained as a byproduct. Further purification of crude glycerol is done, and pure glycerol is obtained, which is commercially used.
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Glycerol Market: Major Players
The global glycerol market is consolidated, with the presence of key players. Prominent players operating in the global glycerol market include Proctor & Gamble Chemicals, Dial Corporation, Croda, Dow Chemicals, Godrej Industries Ltd., Emery Oleochemicals, IOI Group, Kuala Lumpur Berhad, Wilmar International, and Sofiprotéol Group.
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