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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Glycerine Market Size
The global glycerine market value was approximately USD 3.35 billion in 2023. The market is projected to grow at a CAGR of 3% between 2024 and 2032, reaching a value of around USD 4.40 billion by 2032.
Glycerine Market Outlook
- Glycerine is finding new applications in areas such as in the medical field as a solvent or softening agent.
- The shift towards sustainability has led to a rise in the production of bio-based glycerine.
- Innovations in production and purification technologies are improving the efficiency and sustainability of glycerine manufacturing.
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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