Scienza e Tecnologia
Glycerol Market to Garner $5.1 Billion, Globally, By 2031 at 1.7% CAGR, Says Allied Market Research
Increased adoption of natural products and rise in biodiesel production to boost the glycerol supply and demand chain drive the growth of the global glycerol market. On the other hand, fluctuating prices of raw materials impede the growth to some extent. However, surge in demand from emerging economies is expected to create lucrative opportunities in the industry.
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By source, the biodiesel segment held the major share in 2020, garnering around three-fifths of the global glycerol market. The same segment is also projected to cite the fastest CAGR of 2.0% throughout the forecast period. Increased demand for biofuels and the fact that glycerol is a key by-product in the manufacturing process of biodiesel drive the segment growth.
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By product, the refined glycerol segment contributed to the lion's share in 2020, holding more than three-fourths of the global glycerol market. The same segment is also anticipated to manifest the fastest CAGR of 1.8% from 2021 to 2030. Increased demand for refined glycerol from end-use industries such as pharmaceutical, personal care, and food & beverages propels the segment growth.
By region, Asia-Pacific , followed by Europe and North America , dominated in 2020, garnering around half of the global glycerol market. The same region is also expected to cite the fastest CAGR of 1.9% throughout the forecast period, due to the increased demand from the pharmaceutical and personal care industries. Moreover, the region has a large consumer base for the food industry.
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Diethylene Glycol (DEG) Market: Global Opportunity Analysis and Industry Forecast, 2021-2030
Carbonate Market: Global Opportunity Analysis and Industry Forecast, 2021–2030
Biodiesel Market: Global Opportunity Analysis and Industry Forecast, 2019–2026
Glycerin Market: Global Opportunity Analysis and Industry Forecast, 2022-2029
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