Global Glycerol Market By Type (Crude & Refined), By Source (Biodiesel, Fatty Alcohols, Fatty Acids, & Soaps), By End-use (Food & Beverage, Pharmaceutical Nutraceutical, Other End-uses), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Glycerol Market Overview:

The market for glycerol was worth USD 2,558.4 million in 2021. It is projected to grow at a CAGR of 6.6% between 2023 and 2032.

It is due to the increasing demand from the food, nutraceutical, and pharmaceutical sectors. It is used in many food products, including condensed milk & processed meats.

Global Glycerol Market Scope:

Type Analysis

Glycerol’s most profitable segment, the refined segment, earned 78.0% of total revenue for 2021. Refined Glycerin can be described as a colorless, odorless liquid with a high boiling point. It is a useful addition to many personal and home-care formulas due to its moisturizing and emulsifying qualities. These attributes will contribute to the increased demand for this product in the future.

In the next five decades, the crude segment will witness a 6.2% compound annual growth rate. Because of its impurities and lack of fatty acids, crude glycerol will be less popular. Due to the growing demand for crude glycerol, which is used in personal care products and nutraceuticals.

Source Analysis

Biodiesel was the dominant source segment of the glycerol market, accounting for the largest revenue share at 62.3%. This segment is expected to grow at 6.5% annually in the next few years. It is used as a byproduct in the production of biodiesel fuels using chemical & enzymatic processes & the production of bioethanol. Because of its low price and biodegradable, renewable & non-toxic characteristics, biodiesel is a preferred source of glycerol.

The segment of fatty alcohols is expected to see the greatest CAGR over the estimated period. It is widely used in the manufacture of detergents and surfactants. They are also used in industrial solvents, as well as constituents in the food, beverage, and cosmetic industries. Glycerol market growth is expected to be accelerated by the increasing demand for fatty alcohol from these industries over the estimated period.

End-Use Analysis

Glycerol was most popular in the self-care & cosmetics market, accounting for 43.4% of the total revenue share in 2021. This can be attributed to a rise in personal care & pharmaceutical products due to a better lifestyle and growing health awareness in emerging economies in Latin America and the Asia Pacific.

Glycerol can be used to improve smoothness, lubrication, or as a humectant. Glycerol is used in products such as hair products, skin care, shaving cream, and personal lubricants that are water-based. In the estimated period, the pharmaceutical segment will see the highest CAGR. Because of its healing and nutritional properties, the product is often used in pharmaceuticals. It is also found in toothpaste, expectorants, and mouthwashes. Glycerol is expected to see a significant increase in demand in the future for its various uses in pharmaceutical applications.

The product can also be used in food preservatives, as well as the making of explosives and perfumes. It helps other ingredients dissolve faster when it is added to water or alcohol in perfumes. Glycerol can be converted to nitroglycerin through a reaction with sulfuric acid. It can also be used in anti-freeze and lubrication as well as printing inks.

Key Market Segments:

By Type

• Refined
• Crude

By Source

• Biodiesel
• Fatty Acids
• Fatty Alcohols
• Soaps

By End-use

• Food & Beverage
• Nutraceutical
• Pharmaceutical
• Industrial
• Personal Care & Cosmetics
• Other End-uses

Market Dynamics:

Glycerol is becoming more popular because it is safe and it has high nutritive value. Glycerol can be obtained from both natural and petrochemical sources. Because it is easy to store and doesn’t harm the environment, the demand for this product will increase globally over the next few years. It is also widely used to improve the hydration and performance of athletes and skin conditions. These factors will likely positively impact the growth of the glycerol market over the forecast period.

Glycerol can be found in two forms on the market: crude and refined. The crude form comes from the production of biodiesel. It is sold to large refineries for further processing. It is a great source of calories for non-ruminants like swine, chickens, and broilers. This product can be used in a variety of applications, including pharmaceuticals, polyether polyols, food, beverages, and resins.

Glycerol can be formed by hydrolysis, saponification, or transesterification during biodiesel manufacturing. There are many impurities in the substance, including residual wastewater, soaps and salts, esters, catalysts, and other contaminants. It is transformed/purified into useful products during the manufacturing process of biodiesel. Hydrolysis of fats from plants and animals is what produces glycerol. Dephosphorylation 3 phosphates are required to synthesize the product in yeasts or other organisms.

Glycerol market prices play an important role. Pre-operational costs, capital investment, and working capital are all important costs. Pre-operating costs also include setup, capital investments, project engineering, management, and commissioning. The rising prices of fossil fuels have led to an increase in biodiesel prices, which have triggered global prices.

Regional Analysis

The Asia Pacific was the dominant market for glycerol and had the largest revenue share at 39.4% in 2021. In the next few years, the region will experience a 6.5% CAGR. This can be attributed to the changing lifestyles, increasing consumption of convenience food, and an increasing number of women working in the region.

Glycerol prices in the Asia Pacific rose multifold in the first half of 2021 due to increased demand from the end-use industries, constrained production, and a shortage in key feedstock chemicals. Because of the limited availability of feedstock, Indonesia saw a decrease in glycerin production. Europe was the second largest regional market in 2020, accounting for 26.0% of revenue.

This can be attributed to large investments made by major cosmetics companies, rising consumer spending, and the introduction of innovative products in personal care. The top producers of this product in Europe are France, Germany, Italy, France, and the Netherlands. There is a potential market for biofuels in Europe. The market will benefit from increased biodiesel production in the future.

Key Regions and Countries covered in the report:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

Due to the large number of multinationals involved in continuous research and development, the market is extremely competitive. With a wide range of products and a global presence, companies such as Procter & Gamble SE, and Dow, dominate the market. To maximize profit and minimize investment, the majority of these companies have integrated all their business operations throughout the value chain.

Global companies are also looking to expand their capacity and sign partnerships with distributors. BASF SE, for example, has opened a new center in Johannesburg, South Africa, to support its focus on glycerol development with higher service quality and value-added customizations. The following are some of the most prominent players in the global glycerol market:

Market Key Players:

• Cargill Incorporated
• BASF SE
• Procter & Gamble Chemicals
• Oleon NV
• Dow Chemical Company
• Wilmar International Ltd.
• Kao Corporation
• Monarch Chemicals Limited
• Aemetis Inc.
• Fine Chemicals & Scientific Co.
• Other Key Players

For the Glycerol Market research study, the following years have been considered to estimate the market size: