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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Glycerine Market Share
Technical grade maintains its dominance in the glycerine market due to its growing usage as a raw material in various end-use sectors
The technical grade of glycerine is utilised in a vast array of industrial applications, contributing to the glycerine market growth. It serves as a raw material or a processing aid in the production of chemicals, plastics, alkyd resins (used in paints and coatings), textiles, paper, and other industrial products due to its versatility and functionality, which make it a valuable ingredient across multiple sectors. Compared to higher purity grades, technical grade glycerine is more cost-effective for industrial applications where stringent purity standards of pharmaceutical or food-grade glycerine are not necessary. This affordability makes it attractive for manufacturers looking to minimise raw material costs while still benefiting from the functional properties of glycerine.
The pharmaceutical grade segment of the glycerine market also occupies a considerable share due to its critical role in medical and health-related applications, where high purity and strict quality standards are paramount. Glycerine is used in pharmaceutical formulations as a solvent, humectant, and carrier for active ingredients as its ability to dissolve both aqueous and lipid substances makes it versatile for a wide range of drug formulations, including oral, topical, and injectable medications.
The personal care and cosmetics sector occupies a major glycerine market share due to the multiple applications offered by glycerine
The growing use of glycerine in the personal care segment as a thickening agent, emulsifier, lubricant, and humectant as well as the advantages offered by it like low toxicity and solubility, are expected to supplement the market growth. With the change in the demand for glycerine in soaps, handwash, and detergents during the COVID-19 pandemic, the need for glycerine has increased, particularly in the personal care sector, as some global cosmetics manufacturers, such as Johnson & Johnson, Unilever, P&G, and others, are significantly adopting natural glycerol as raw material to meet the growing demands.
The food and beverage sector is expected to witness a considerable growth in the coming years as glycerine is an effective humectant, meaning it has the ability to retain moisture. This property is crucial in food products where maintaining moisture content is essential for preserving texture, softness, and freshness, therefore it is widely used in baked goods, such as cakes and cookies, to prevent them from drying out.
Glycerine Market Report Snapshots
Glycerine Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the glycerine market reached an approximate value of USD 3.35 billion.
The glycerine market is expected to grow at a CAGR of 3% between 2024 and 2032.
The glycerine market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 4.40 billion by 2032.
The major drivers of the market include the rising consumer interest in colour cosmetics, increased use of soaps and detergents, increased during the COVID-19 pandemic, increasing product demand from chemical intermediates manufacturers, rise in the use of glycerine in various industrial applications, growing health-conscious people, increasing ageing population, and growing concerns related to global climate change and fluctuating crude oil prices.
Key trends aiding the market expansion include the increasing innovations offering unique culinary experiences and growing focus on health and wellness.
North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa are the significant markets for glycerine.
The market is segmented into transesterification, saponification, and fat splitting based on the process.
The various sources of glycerine are vegetable oils, biodiesel, soaps, and synthetic.
The market is divided into technical grades and pharmaceutical grades based on grade.
The major applications of the market are food and beverage, pharmaceuticals, alkyd resins, tobacco, personal care and cosmetics, automotive, and polyether polyols, among others.
Key players in the market are Cargill Incorporated, Kao Corporation, Wilmar International Ltd, Louis Dreyfus Company, IOI Corporation Berhad (IOI), and others.
The diverse applications of glycerine, the growing significance of its humectant properties, and the availability as a by-product of biodiesel production support the market demand.
The dependence on the biodiesel sector, which can lead to fluctuation in prices, inconsistent product quality due to the use of varied source and production process, and a heavy reliance on the availability of raw materials are the key challenges faced by the manufacturers.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124