Scienza e Tecnologia
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.
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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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Chemicals & Materials
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