Glycerin Market to Attain a Revenue of USD 4506.6 Million by 2028 Globally; Increasing Concern for Oral Diseases and Rising Use of Biodiesel to Boost Market Growth

Key Companies Covered in the Glycerin Market Research Report Are General Emery Oleochemicals, Wilmar International Ltd., IOI Oleo GmbH, Kao Corporation, Croda International Plc, KLK OLEO, Cargill, Incorporated, Procter & Gamble, Godrej Industries Limited, CREMER OLEO GmbH & Co. KG, and other key market players.

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New York, Sept. 22, 2021 (GLOBE NEWSWIRE) -- According to the statistical report “Global Burden of Disease Study 2017”, it has been estimated that close to 3.5 Billion people around the world are affected by oral diseases. Moreover, around 2.3 Billion people were estimated to suffer from caries of permanent teeth. Furthermore, it has also been estimated that over 530 Million children suffer from caries of primary teeth. On the other hand, according to the statistics by the World Health Organization (WHO), the incidence of lip and oral cavity cancer around the globe is expected to be close to 4 cases per 100,000 people.

Research Nester has recently released a report titled Glycerin Market: Global Demand Analysis & Opportunity Outlook 2019-2028which encompasses a detailed analysis of the industry growth indicators, along with the supply & demand risks, and the restraints that might be associated with the growth of the market for the forecast period 2021-2028.

The oral health diseases around the world are increasing at a rapid pace. Glycerin, which is a colorless, syrupy liquid, and has the properties of sweetness, is widely used in oral health products so as to retain moisture, and to maintain the creamy texture of the toothpaste. Glycerin is also used widely in cosmetics, food products, medications, and household items among others. According to the statistical data shared by the U.S. FDA Voluntary Cosmetic Registration Program (VCRP), in the year 2019, glycerin was reported to be used in 23,366 products. Moreover, in cosmetics, it is the third most frequently used ingredient after water and fragrance. Backed by the growing cosmetic industry, which grew by around 5.5% in the year 2019, the demand for glycerin is expected to surge massively in the coming years, and in turn, drive the growth of the global glycerin market. The market is anticipated to grow with a CAGR of 4.72% during the forecast period and further attain revenue of USD 4506.6 Million by the end of 2028, up from a revenue of USD 3040.2 Million in 2019. The market is also expected to grow on account of the growing demand for glycerin from the pharmaceutical industry, owing to the increase in the production of generic and prescription drugs. According to the statistics by the European Federation of Pharmaceutical Industries and Associations (EFPIA), the value of production of pharmaceutical products in Europe grew from around USD 118642 Million in 2000 and was estimated to reach close to USD 297700 Million in 2018. In the year 2021, the market is expected to attain a market revenue of USD 3263.7 Million.

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Based on geography, the global glycerin market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Amongst the market in the regions, the market in the Asia Pacific is anticipated to hold the largest market share and attain revenue of USD 27411.9 Million by the end of 2028 by growing with a CAGR of 5.3% during the forecast period. Growing adoption of biodiesel in the region, along with the emerging number of organizations across different industry verticals where the application of glycerin is huge, are some of the major factors anticipated to drive the market growth. According to the statistics by the U.S. Energy Information Administration (EIA), production of biodiesel in the Asia & Oceania region increased from 97 Mb/d in 2015 to 244 MB/d in 2019. Amongst the countries in the region, the market in China is expected to hold the leading market share throughout the forecast period and further attain a market revenue of USD 456.79 Million by the end of 2028, up from a revenue of USD 285.54 Million in 2019. Alternatively, the market in India is projected to hold the second-leading share and further attain revenue of USD 245.68 Million in 2021.

On the other hand, the market in Europe is expected to hold the second-leading share and attain revenue of USD 12956.8 Million by the end of 2021. The rise in demand for personal care products amongst consumers, increasing consumption of biodiesel in the region, and the presence of a strong pharmaceutical industry in the region are some of the factors anticipated to drive the growth of the Europe glycerin market. According to EIA, the consumption of biodiesel in Europe grew from 239 Mb/d in 2015 to 311 Mb/d in 2018. Amongst the countries in Europe, the market in the UK is anticipated to garner the largest market revenue of USD 221.88 Million by the end of 2021. Alternatively, the market in Germany is expected to hold the second-leading share and further gain a market revenue of USD 231.07 Million by the end of 2028.

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The study further incorporates Y-O-Y growth, demand & supply and forecast future opportunity in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).

The global glycerin market is segmented by product type into refined glycerin and crude glycerin, out of which, the refined glycerin segment is anticipated to hold the largest market revenue and further grow with the highest CAGR of 4.78% during the forecast period. The growth of the segment can primarily be attributed to the increasing demand for refined glycerin from the end-user industries, such as pharmaceuticals, oral care product manufacturers, and others. The segment in the United Kingdom is expected to register a revenue of USD 198.37 Million by the end of 2028 and also grow with the highest CAGR of 4.73% during the forecast period.

In the Asia Pacific, the segment is expected to grow with the highest CAGR of 5.50% during the forecast period, whereas in China, the segment is expected to attain a market revenue of USD 262.65 Million by the end of 2021.

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On the basis of source, the market is segmented into biodiesel, fatty acids & esters, vegetable oils, animal fats, and others. Out of these, the biodiesel segment is expected to hold the largest market share and grab a revenue of USD 2988.41 Million by the end of 2028, up from a value of USD 1981.66 Million in 2019. The segment is also anticipated to grow with the highest CAGR of 4.92% during the forecast period. In North America, the biodiesel segment is expected to garner the largest market revenue of USD 440.44 Million by the end of 2021, whereas, the vegetable oils segment is expected to grow with the highest CAGR of 5.77% during the forecast period. In Germany, the biodiesel segment garnered the largest market revenue of USD 100.56 Million in 2019 and is further anticipated to hold the position and reach a revenue of USD 149.62 Million by the end of 2028. In China, the segment is expected to attain the largest market revenue of USD 323.50 Million by the end of 2028.

The global glycerin market is also segmented on the basis of grade, and by application.

Global Glycerin Market, Segmentation by Grade

  • USP
  • Technical

Global Glycerin Market, Segmentation by Application

  • Chemical Intermediates
    • Propylene Glycol
    • Epichlorohydrin
    • 1,3-Propanediol
    • Acrolein
    • Glycerol Carbonate
    • Glycol Substitutes
    • Others
  • Industrial Applications
    • Cosmetics & Personal Care
    • Food & Beverage
    • Pharmaceutical & Healthcare
    • Tobacco
    • Polyether Polyols
    • Alkyd Resins
    • Paper & Printing
    • Lubrication
    • Others

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Some of the major industry leaders mentioned in our report that are associated with the global glycerin market are Emery Oleochemicals, Wilmar International Ltd., IOI Oleo GmbH, Kao Corporation, Croda International Plc, KLK OLEO, Cargill, Incorporated, Procter & Gamble, Godrej Industries Limited, CREMER OLEO GmbH & Co. KG, and others.

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