The global glycerine market size is expected to reach USD 2.53 billion by 2028, exhibiting a CAGR of 5.3% during the forecast period. The increasing demand for bio-based fuels, such as biodiesel backed by rapid industrialization and urbanization, will aid the expansion of the glycerin market. This information is given by Fortune Business Insights™ in a report titled, “Glycerine Market, 2021-2028.” The report further states that the glycerine market size was USD 1.68 billion in 2020.
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 (U.K.)
- Kao Corporation (Japan)
- Cargill Inc. (U.S.)
- Godrej Industries (India)
- P&G Chemicals (U.S.)
- 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.
Read
a Detailed Summary of This Report: https://www.fortunebusinessinsights.com/glycerine-market-102168
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.
To get to know
more about the short-term and long-term impact of COVID-19 on this market, please
visit:
Regional
Analysis-
Expansion of Personal
Care Industry to Propel Growth in Asia Pacific
Geographically, Asia Pacific held USD 0.73 billion in terms of
revenue in 2020, 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 a 49.7% 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 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.
Read Press Release: https://www.fortunebusinessinsights.com/press-release/global-glycerine-market-10439
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