The Glycerin Market Size was valued at USD 1.94 Billion in 2023. The glycerin industry is projected to grow from USD 2.05 Billion in 2024 to USD 3.49 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.87% during the forecast period (2024 - 2032).
Glycerin is a material that is easily compatible with many solutions. Handling this chemical is effortless due to its mild properties. The special fatty acids and esters are unique properties. New productions of glycerin are surging due to its widespread usage. There are different grades of glycerol that is manufactured in many regions.
The usage of these glycerol’s differs according to the purpose and industry. In recent years, the need for glycerin is rising in the pharmaceutical sector. This chemical is useful in plenty of drugs and combinations. Low cost, efficiency and viscosity the usage of glycerin is high. Cosmetics is another sector that has a growing need for glycerin. The healing properties of glycerin increase the use of this material in cosmetics. In upcoming years, the usage of this product is diverse in the global market. All these factors will contribute to high glycerin market value.
In 2023, Hamdard Laboratories WAQF Bangladesh, the country's largest herbal (Unani) pharmaceutical firm, will introduce its new product, Ihram Neem Glycerin soap, through a program.
The outbreak of covid 19 is affecting the growth of many global markets. The need for sanitisers and disinfectants are higher in this period. Glycerol is a major ingredient in these hand sanitisers and disinfectants. The world health organisation is recommending the use of glycerol in sanitisers. Most of these glycerol’s are used in ethanol and hydrogen peroxide. In regions with tropical climatic conditions use of glycerol is recommended for 0.5%.
The glycerin sanitization production is sustaining the growth of this market. However, there are a few challenges for the glycerin market in this period. It is a period that is creating more exposure for glycerin. In the upcoming years, the need for glycerin in various industries will increase. The demand rate for the market is exceptional in the next few years. Also, the availability of glycerine is high due to increased production. The expansion of this market in developing regions is rapid. Due to the high need for glycerin in developing nations investments will also rise.
The awareness about less harmful chemical ingredients is raising the demand of this market. Today, many consumers prefer products that have no toxins and harmful chemicals. Due to this, global cosmetic producers use organic products. Glycerin is a clear and healthy chemical that can heal the skin. There are plenty of other benefits of this product.
The exceptional moisturising effects of this product attract many end-users. Many cosmetic producers scar the world are using glycerin. These profitable cosmetic manufacturers are witnessing higher adoption that is favouring the glycerin market. Wider penetration of glycerin in the personal industry is another driving factor of the market. Glycerin is an ingredient that is the third most used product.
After water glycerin is widely used in personal care products. Its effective properties on the skin lead to a higher supply of personal care products. These factors are raising the usage and need of glycerin widely. Lip balm, lipstick, bath soap, skincare and baby product are areas that have a higher need for glycerin. Especially, developing nations are witnessing increased spending on the cosmetics industry. These drivers will contribute to exceptional glycerin market growth.
Rapid urbanization will create exceptional market growth opportunities. Due to urbanisation the need for biodiesel is increasing. As glycerin is a byproduct of biodiesel its production of it is rising. The rise in production due to urbanisation will create promising growth opportunities. Biodiesel is a natural oil that is eco friendly. Each year, the production of biodiesel is rising by 44 billion litres a year. It is providing exceptional scope for the glycerin market in the forecast period.
In European and Middle East markets the top oil companies are expanding their biodiesel production. It is another factor that will have a positive effect on glycerin. Further, higher demand from developing nations will benefit the glycerin market. Developing countries such as India, China and Japan contribute to the growth of the glycerin market. Demand from these regions is surging due to various purposes.
The demand from the pharmaceutical sector is immense in this region. Many clinical drugs and products contain some amount of glycerin. Due to its exceptional blending properties, the usage is growing. All these growth opportunities will increase the overall supply of glycerin. Also, the profitability of the market will be at a peak in the forecast period.
Fluctuations in the price can confine the growth of this market. Biodiesel price is highly volatile. Due to this, the glycerin market is witnessing various fluctuations. The fluctuations in product price can lead to inconsistency. The production and supply margins are facing huge changes due to price fluctuations.
Still, this restraint of the market can remain under control with technological advancements. Technological developments are expected to reduce price volatility. However, this challenge of the market can hamper growth. The demand from end-user can significantly reduce due to all these factors. A high price rise can reduce the adoption rate of this market.
There are plenty of substitutes for glycerin. There are alternative formulas that come with the same ingredients as glycerin. Due to this, the demand for the market can reduce. The increasing awareness for glycerin alternatives can hamper growth.
Cosmetic butter, oil, glycol and diethyl are some of the alternatives in the market that can take over demand. Some of these subsidies are cost-efficient and are effortless to handle. These alternatives can create a declining trend for the glycerin market. Glycerin market expansion is low due to the presence of many alternatives.
Glycerin market trends is stable in the forecast period. There are plenty of factors that contribute to the growth of the glycerin market. Technical grade glycerol is gaining more traction in various regions. Refined cured and glycerin have fewer contaminants. Clear and quality glycerin has a high need among end-users.
Especially, the need for glycerin is higher in the cosmetic industry. In these sectors, pure glycerin have higher usage. However, price fluctuation is a restraining factor of this market. Also, the availability of substitutes hinders market growth. Still, growth opportunities of the market keep the market trend stable.
The Asia Pacific holds the highest glycerin market share. It is a top region that produces high glycerin in terms of quantity. Japan, India, China and Malaysia are key contributors to the market. The presence of key players leads to constant market developments.
China is a major leader in this region that holds more than 60% of market shares. Booming food, personal care and the chemical industry have a higher need for glycerin. Due to the availability of raw materials, the product price fluctuations are lower. Also, it is a region that will mark the highest renege rate in the forecast period.
By Grade
Refined Glycerin
Crude Glycerin
Source
Fatty Acids
Fatty Alcohols
Biodiesels
By Application
Pharmaceuticals
Tobacco Humectants
Alkyd Resins
Industrial Chemicals
Food and Beverage
Polyether Polyols
Personal Care and Cosmetics
Geography
Asia-Pacific
China
South Korea
Japan
India
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Italy
Germany
Europe
France
United Kingdom
Rest of Europe
South America
Global Glycerin Market , By Application 2016
The regional glycerin market is fragmented into Asia Pacific, Europe and North America. The Asia Pacific is the leading player in the glycerin market. Countries such as China, India, and Japan, Asia-Pacific accounted for high shares in the market.
China is one of the world's largest glycerin end users. One of the fastest-growing industries in the country is cosmetics and personal care. The Chinese cosmetics and personal care market enjoyed positive growth. Products such as makeup, skincare, Haircare, personal hygiene, perfumes have higher demand.
In terms of cosmetics and skincare items, China is rapidly becoming the world's largest market. Another element driving demand for personal care products, soaps, and detergents raise demand. Factors are boost market demand will contribute to high profitability. Also, North America is the next largest region with high market demand. There are plenty of industries that have a high need for glycerin. Rising investments are other crucial drivers.
richer Daniels Midland Company
Biodex-SA
Muslim Mas
Emery Oleochemicals
IOI Corporation Berhad
KLK OLEO
Louis Dreyfus Company
Oleon NV
P&G Chemicals
Thai Glycerine Co. Ltd
Aemetis
Vance Group Ltd
Dow
Wilmar International Ltd
Munzer Bioindustrie GmbH
RB FUELS
Vantage Specialty Chemicals
Sebacic India Limited
Louis Dreyfus Company announced plans to increase refining capacity in Indonesia in July 2023. This includes adding a new refining unit of glycerine capacity in Indonesia.
BASF SE stated in May 2023 that ORLEN Poludnie has completed converting glycerol into renewable propylene glycol (BioPG) within one year. Data shows that ORLEN Poludnie employs BASF's technology if it wants to convert its glycerol to BioPG.
Argent Energy announced that it would put up a new refinery for making Glycerin in December 2022. Argent Energy is planning a refinery with a production capacity of fifty thousand tonnes, which will be situated at the Amsterdam port.
Tara Sutaria, one of the youngest iconic celebrities became ITC Savlon’s Savlon Glycerine Soap brand ambassador in January 2022. It is such a unique solution that can offer a combination of softer skin and prevention from germs simultaneously. In response to the rising demand for hygiene solutions amidst the pandemic, ITC Savlon has emerged as a leading player in fighting against COVID-19.
Besides, SUGAR Cosmetics, one of India's leading premium cosmetic companies launched Air Kiss Powder Lipstick which is the first powder lipstick in India ever on February 2022. UGAR Air Kiss Powder Lipstick contains glycerin and silica which help keep your lips moisturized and soft.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD Â 1.94 Billion |
| Market Size 2024 | USD 2.05 Billion |
| Market Size 2032 | USD 3.49 Billion |
| Compound Annual Growth Rate (CAGR) | 6.87% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018 & 2020 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Procter & Gamble, NOW Foods, VVF L.L.C., Cargill, Dutch Glycerin Refinery (DGR), The Dow Chemical Company, Parchem fine & specialty chemicals , Avril Group, Essential Depot, Inc., Croda International Plc and others. |
| Key Market Opportunities | The consumers of developed regions prefer quality food, personal care and pharmaceuticals products. Middle East and Africa are one of the fastest growing market. |
| Key Market Dynamics | The drivers of the market are due to rise in health awareness and increase in trends of beauty products are driving the market of glycerin |
Glycerin Market Highlights:
Frequently Asked Questions (FAQ) :
Emulsifier and humectant in Cosmetics, Plasticizer in Packaging, Paints and Paper industry
Globally, glycerin market expanding at a CAGR of 6.87% between 2024 and 2032.
Asia-pacific region was the leading glycerin market with an estimated highest market size
Procter & Gamble, NOW Foods, VVF L.L.C., Cargill, Dutch Glycerin Refinery (DGR), The Dow Chemical Company, Parchem fine & specialty chemicals , Avril Group, Essential Depot, Inc., Croda International Plc and others.
The drivers of the market are due to rise in health awareness and increase in trends of beauty products are driving the market of glycerin
Glycerin Market is projected to be worth USD 12 Billion by 2030, registering a CAGR of 15% during the forecast period (2022 - 2030)
$12 Billion
15%
Asia Pacific
2022-2030
Team Lead - Research Anshula mandaokar holds an academic degree in chemical engineering and has been contributing to the field for more than 5 years. she has expertise in market research and business consulting and serves as a team lead for a reputed market research firm under the chemicals and materials domain spectrum. she has worked on multiple projects, generating explicit results in a quick turnaround time. her understanding of data interpretation justifies her role as a leader.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
