Market Research Report
Global Glycerin Market Outlook 2028
|Global Glycerin Market Outlook 2028|
Published: June 3, 2021
Content info: 504 Pages
Delivery time: 1-2 business days
Glycerin, also commonly known as propanetriol and glycerol, is an organic polyol compound. It is a colorless, odorless, viscous, and non-toxic substance. In addition, it is hygroscopic in nature and has a sweet taste. It is widely used as a solvent, sweetening agent, and emollient in various end-use industries. The global glycerin market is anticipated to grow with a CAGR of 4.72% during the forecast period, i.e., 2021-2028. Factors such as the growing demand for glycerin from end-user industries, such as oral healthcare industry, skincare and cosmetic industry, along with the pharmaceutical industry among others, are anticipated to drive the market growth. In the oral healthcare industry, glycerin is used massively to treat burns, bites, psoriasis, rashes, cut, calluses, and bedsores among others. On the other hand, in the skincare and cosmetic industry, glycerin is used to manufacture different cosmetic products. It is also used as a humectant and emollient in skincare products. The global glycerin market is further anticipated to gain a market revenue of close to USD 4500 Million by the end of 2028 from a value of close to USD 3000 Million in 2019.
The global glycerin market is segmented into various segments, which include segmentation by product type, grade, source, application, and by region. Based on the product type, the market is segmented into refined and crude glycerin. Out of these, the refined glycerin segment is projected to grow with the highest CAGR of around 5% during the forecast period. On the basis of source, the market is segmented into biodiesel, fatty acids & esters, vegetable oils, animal fats, and others. Out of these segments, the biodiesel segment is anticipated to hold the largest share of the market and further attain a market revenue of close to USD 3000 Million by the end of 2028, backed by the increasing demand for bio-diesel, and thus increase in production of glycerin from the source.
Some of the key players operating in the global glycerin market which are mentioned in our report are: Emery Oleochemicals, Wilmar International Ltd, IOI Oleo GmbH, Kao Corporation, Croda International Plc, KLK OLEO, Cargill, Incorporated, Procter & Gamble, Godrej Industries Limited, CREMER OLEO GmbH & Co. KG, and others.