Yahoo Finance Glycerine Market to Reach USD 2,405.5 Million by 2027; Rising Demand for Biodiesel Because of Industrialization to Boost Growth, Says Fortune Business Insights™
Top companies covered in the glycerine market are 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), and more players profiled
Pune, Dec. 01, 2020 (GLOBE NEWSWIRE) -- 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 & COVID-19 Impact 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 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.
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.
List of top producers operating in the global glycerine 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)
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How Was This Report Developed?
Our highly skilled analysts have conducted extensive primary and secondary research to create this special report containing COVID-19 impact. Through desk research, they came up with relevant qualitative and quantitative data associated with research objectives. They have analyzed the data sourced through primary research, thereby building recommendations and conclusions. The secondary research includes Porter’s Five Forces analysis to gain insights into the bargaining power of every link present in the value chain.
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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Segment
Personal Care Segment to Generate Largest Share Backed by Usage in Toothpaste & Soaps
Based on the application, the personal care segment generated 26.7% in terms of glycerine market share in 2019. This growth is attributable to the increasing usage 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.
Regional Analysis
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.
Competitive Landscape
Key Players Focus on Expanding Their Production Capacities to Intensify Competition
The market houses a large number of prominent glycerine manufacturers that are mainly focusing on expanding their production capacities to fulfill the high demand. Some of the others are using glycerine in the manufacturing of hand sanitizers to tackle the growing demand amid the COVID-19 pandemic.
Below are the two latest industry developments:
July 2020: Versalis, a wholly-owned subsidiary of Eni started producing a new range of liquid hand disinfectants 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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Detailed Table of Content:
Introduction
Research Scope
Market Segmentation
Research Methodology
Definitions and Assumptions
Executive Summary
Market Dynamics
Market Drivers
Market Restraints
Market Opportunities
Key Trends
Key Insights
Key Insights – For Major Countries
Key Developments
Regulatory Scenario
PEST Analysis
Production Overview
Trade Flow Analysis
Pricing Analysis
COVID-19 Impact Analysis
Supply Chain Challenges
Steps Taken by Government/Companies to combat COVID-19
Potential Opportunities due to COVID-19 Outbreak
Global Glycerine Market Analysis, Insights and Forecast, 2016-2027, By Grade
Key Findings / Summary
Market Analysis, Insights and Forecast
USP Grade
Technical Grade
TOC Continued…!
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