Glycerol Market Dynamics & Value Chain Analysis by 2020
1 Nov 2018 – The global Glycerol demand was 2,247.2 kilo tons in 2013 and is expected to reach 3,469.2 kilo tons by 2020, growing at a CAGR of 6.4% from 2014 to 2020.. The increase in production of oleochemicals coupled with growing downstream opportunities is anticipated to propel market demand over the forecast period. Declining usage of synthetic products such as propylene glycol is likely to fuel consumption of glycerol.
Glycerol also is known as glycerin, it’s a core compound of all triglycerides. Glycerol can be sourced either from artificial or natural means depending on a raw material used in its manufacturing. Glycerol finds its applications in preservatives, antifreeze chemicals, explosives, and food sweeteners due to its chemical properties. Growing healthcare technologies are likely to drive the market growth over the forecast period.
Uncertain feedstock supply, fewer profit margins for refinement processes can act as a restraint to the glycerol market. Unstable government legislations and industry subsidies are affecting the profitability of manufacturers which is expected to have a negative impact on glycerol production.
The major sources of glycerol are biodiesel, fatty acids, and fatty alcohols. In recent times, bio-diesel is the largest source for the production of glycerol. The process of using bio-diesel alcohol in glycerol production is known as transesterification process, which is economical over other synthetic processes. Saponification and hydrolysis are the other methods of glycerol production.
Pharmaceuticals and personal care were the largest application segment of this market.
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Glycerol finds its application in skin products owing to its healing properties and nutritive value. It is also used in health products due to its sweet tasting features and laxative properties.
The growing demand for coatings and paints industries is expected to have a positive impact on market demand. Glycerol also finds its applications in explosive production, tobacco humectants, perfume production, and food preserving. Glycerol is the precursor to important chemicals such as 1-3 propanediol, Epichlorohydrin, and Propylene Glycol owing to which the downstream applications of this product have attracted a lot of attention.
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Europe is the largest region in the market due to growing demand in food & beverages, pharmaceuticals, and personal care segments. Its growing application in the production of specialty chemicals such as propylene glycol and epichlorohydrin is driving the demand for this product.
China is likely to consume high glycerol owing to rising production of epichlorohydrin in this economy. The presence of a large number of coatings and paints industries in Asia Pacific is expected to drive the market demand. The rising consumption of cosmetic products and pharmaceutical containing glycerol is likely to witness a significant growth over the forecast period.
The key players in the market are Vitusa Product (U.S.), Emery Oleochemicals LLC (U.S.), Cremer Gruppe (Germany), Dial Corporation (U.S.), Kashima Chemical Co., Ltd. (Japan), Sumi Asih Oleochemical Industry (China), Twin Rivers Technologies, Inc. (U.S.), Pt Cisadane Raya Chemicals (Indonesia), Kao Corporation (Japan), Sakamoto Yakuhin Kogyo Company Ltd. (Japan), Pt Flora Sawita Chemindo (Indonesia), Pacific Oleochemicals Sdn Bhd (Malaysia), United Coconut Chemicals, Inc. (Philippines), Croda International Plc. (UK), Archer Daniel Midland (U.S.), IOI Oleochemical Industries Berhad (Malaysia), Dow Chemical Company (U.S.), Godrej Industries Ltd. (India), Kuala Lumpur Kepong Berhad (Malaysia), Solvay SA (Belgium), Procter & Gamble Chemicals (U.S.), Wilmar International (Singapore), Sofiprotéol Group (France), and Cognis Corporation (U.S.), etc.
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