The Global Glycerine Market is set to gain traction from the increasing demand for bio-based fuels, such as biodiesel backed by rapid industrialization and urbanization. This information is given by Fortune Business Insights™ in a new report, titled, “Glycerine Market Size, Share & Industry Analysis, By Grade (USP Grade, and Technical Grade), By Application (Personal Care, Food & Beverages, Pharmaceuticals, Polyether Polyols, Chemical Intermediate, Tobacco, and Others), and Regional Forecast, 2020-2027.” The report further states that the glycerine market size was USD 1,622.8 million in 2019 and is projected to reach USD 2,405.5 million by 2027, exhibiting a CAGR of 5.2% during the forecast period.
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A List Of All The Renowned Glycerine Producers Operating In The Global Market:-
- Wilmar International (Singapore)
- Emery Oleochemicals (Malaysia)
- IOI Group (Malaysia)
- KLK OLEO (Malaysia)
- Croda International (UK)
- Kao Corporation (Japan)
- Cargill Inc. (USA)
- Godrej Industries (India)
- P&G Chemicals (USA)
- Cremer Oleo GmbH & Co. Kg (Germany)
- Groupe Avril (France)
- GLACONCHEMIE (Germany)
- Granol (Brazil)
- Timur Oleochemicals (Malaysia)
- Sakamoto Yakuhin Kogyo Co., Ltd. (Japan)
Drivers & Restraints-
Rising Adoption of Natural & Organic Ingredients by Cosmetics Firms to Aid Growth
The rising inclination of consumers towards natural personal care and cosmetics products is set to propel the glycerine market growth in the coming years. This is mainly occurring because of the increasing awareness programs among the masses regarding the harmful effects of chemical ingredients. Hence, multiple reputed cosmetic manufacturers, such as L’Oréal, P&G, Unilever, and Johnson & Johnson are extensively using natural and organic ingredients to cater to the high demand. However, as glycerine is obtained during the biodiesel manufacturing process as a by-product, refiners are facing challenges in terms of profit margins and production owing to the fluctuations in prices. It may hinder growth.
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Key Questions Answered:
- Why Choose Fortune Business Insights?
- What are the key demands and trends shaping the market?
- What are the key opportunities in the market?
- What are the key companies operating in the market?
- Which company accounted for the highest market share?
- What is the market size and growth rate of the global and regional market by various segments?
- What is the market size and growth rate of the market for selective countries?
- Which region or sub-segment is expected to drive the market in the forecast period?
- What Factors are estimated to drive and restrain the market growth?
Personal Care Segment to Generate Largest Share Backed by Usage in Toothpaste & Soaps
Based on application, the personal care segment generated 26.7% in terms of glycerine market share in 2019. This growth is attributable to the increasing usage of glycerine in the production of shaving cream, toothpaste, soaps, hair care, and skincare products. The segment is anticipated to procure the largest share throughout the forthcoming years stoked by the ability of the product to provide conditioning and reduced viscosity.
Expansion of Personal Care Industry to Propel Growth in Asia Pacific
Geographically, Asia Pacific held USD 733.0 billion in terms of revenue on account of the presence of some of the top companies in Japan, India, Indonesia, and Malaysia. China is set to dominate the regional market because of the expansion of the chemical, food, and personal care industry in the country. The USP grade segment accounted for 49.5% share in China.
Europe, on the other hand, is a key producer of glycerol and biodiesel worldwide. The rising production of biodiesel stoked by the increasing demand from various European countries would accelerate growth. Besides, the high demand for glycerine from the personal care and chemical industries in the U.S. will drive growth in North America.
- July 2020: Versalis, a wholly owned subsidiary of Eni started producing a new range of liquid hand disinfectant to meet the rising demand amid the COVID-19 pandemic. It will be marketed under the name ‘Invix.’ It was developed on the basis of the World Health Organization’s formulation. It contains glycerine as an emollient.
- September 2019: Emery Oleochemicals announced its investment in its Technical Development Center (TDC) in Germany to cater to the increasing demand. Every product is tested here. Also, the beneficial effect of additives is improved and adjusted. This new investment will strengthen the company’s position in the market.
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COVID-19 Pandemic: Rising Demand for Hand Sanitizers to Accelerate Growth
The emergence of the COVID-19 pandemic has surged the demand for hand sanitizers exponentially. Glycerin is mainly used in small proportions to manufacture hand rubs and sanitizers. The World Health Organization (WHO), for instance, released its ethanol-based hand rub formulation containing 1.45% glycerol to protect healthcare workers’ skin against dermatitis and dryness. We are providing in-depth reports to help you better understand the current situation.
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