The Global Glycerol Market- Growth, COVID-19 impact and Forecast (2021-2025)
The Glycerol market is segmented by Source type (Biodiesel, Fatty Acids, Fatty Alcohols, Soap); Type (Refined Glycerol and Crude Glycerol); Application (Personal Care, Chemical Intermediate, Food And Beverages, Pharmaceuticals, Others); Geography (APAC, North America, Europe, and ROW).
Introduction
Glycerol which is also known as glycerin is colorless, odorless, vicious, and oily liquid having syrupy sweet flavor. The product can be derived naturally from vegetable oils such as soybean, corn, coconut, palm, animal fats such as tallow, and synthetically from propylene.
The growing demand of product from various end-use industries, increasing preferences towards environmental friendly products, prevalence of favourable government regulations which will likely to enhance the growth of the glycerol market in the forecast period.
However, Volatility in prices of raw material along with easy availability of product substitute are acting as constraints for the market growth.
Table of Contents
Market Overview
The Global glycerol market is expected to have incremental growth of $609.0 million during 2020-2025.
Growth momentum is expected to accelerate during the forecast period with 4.12% CAGR.
The growing demand of product from various end-use industries, increasing preferences towards environmental friendly products are driving the growth of the market.
APAC is dominating the market due to increased consumer spending, growing adoption of healthy lifestyle, and expansion of end-use industries.
Key Trends
Increasing prevalence of product which is relatively safe, non-toxic, non-corrosive properties which will further boost various opportunities for the market growth
Increasing biodiesel demand across the globe is expected to drive the market in future years.
Emerging markets in growing economies is expected to drive the market demand in future
Key Market Players
Some of the key players in the market are Cargill, BASF, Kao Corporation, Oleon, KLK oleo, P&G Chemicals.
Glycerol market is considerably fragmented with the dominance of well-established and long-term operating players. Major players focus on mergers & acquisitions, expansion of their manufacturing facilities, infrastructural development, investments in R&D facilities, and are seeking opportunities to vertically integrate across the value chain.
Growth Drivers and Challenges
The growing demand of product from various end-use industries, increasing preferences towards environmental friendly products, prevalence of favourable government regulations are driving the market demand.
Availability of other product alternatives is hindering the market growth
Fluctuating prices of raw materials is hampering the market growth