Scienza e Tecnologia
Global Glycerin Market to Reach US$ 7.21 Billion by 2030 - Trade Dynamics, Cost Drivers, and Price Impacts, Value Chain Analysis, Macroeconomic & Regional Trends, Market Dynamics: The Brainy Insights
Steady economic development in developing and emerging nations such as China , India , Brazil , and Southeast Asian countries coupled with the rising per capita income and expenditure of the people is expected to drive the market growth and development. Glycerin is used as a solvent and lubricant in personal care products such as shampoo, conditioners, etc. Thus, the demand for glycerin is expected to fuel the market growth and development. The rising adoption rate of glycerin in the food & beverage industry is going to provide significant growth opportunities to the manufacturers. The majority demand for glycerin has been coming from processed food manufacturing companies because glycerin is used as a food preservative. Glycerin is also gaining its value in dairy as a sweetener and confectionery industry.
Major players in the global glycerin market are Emery Oleochemicals, IOI Oleochemicals, Wilmar International Ltd., Kuala Lumpur Kepong Berhad, Godrej Industries, The DOW Chemical Company (Olin Corporation), Cremer Oleo GmbH & Co. Kg, PT Smart TBK, Vitusa Products Inc., PT. Bakrie Sumatera Plantations TBK, Croda International PLC, Cargill Incorporated, P&G Chemicals, KAO Corporation, Avril Group, Twin Rivers Technologies Inc., Pacific Oleochemicals Sdn Bhd, PT Sumi Asih Oleochemicals Industry, PT Cisadane Raya Chemicals, Vegetable Vitamin Foods Company (VVF), Sakamoto Yakuhin Kogyo Co., Ltd., and Timur Oleochemicals among others. To capture the global glycerin market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, joint ventures, collaborations, and partnerships.
The source segment is divided into biodiesel and soaps. The biodiesel segment is expected to expand at a faster growth of 7.2% over the forecast period. The segment growth is attributed to growing demand for sustainable and renewable energy resources.
The process segment includes saponification, trans-esterification, and fat splitting. The trans-esterification segment dominated the market with a share of around 53% in 2020. The segment growth is attributed to trans-esterification of triglycerides with alcohols in the production of biodiesel.
The grade segment includes crude and refined. The refined segment growth is mainly attributed to the rising acceptance of refined glycerin in the pharmaceutical, cosmetics, food and beverage, and personal care industry sectors.
The end-user segment is divided into pharmaceutical, chemical, food & beverages, personal care, tobacco, and others. The personal care segment dominated the market with a market share of more than 35% in 2020. The demand for glycerin in cosmetics and healthcare industries is expected to rise, thereby, boosting the glycerin market size. The food packing industry is going to have the fastest growth during the forecast period.
The Asia Pacific region emerged as the largest market for the glycerin market with a share of more than 30% in 2020. The regional growth is attributed growth and development in this region and fuelling demand for personal care products. Further, growing demand from food & beverages industries is also expected to drive the growth of glycerin in this region. Europe region is projected to hold the second-largest market share of around 27% in 2020. The regional growth is attributed to the stable growth of biodiesel production in and across the region.
The global glycerin market is analyzed on the basis of value (USD billion), volume (Kilotons), import (Kilotons), export (Kilotons). All the segments have been analyzed on a global, regional, and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining key insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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