Global glycerol market size is likely to exceed USD 3 billion by 2022, as per a new research report by Radiant Insights, Inc. Regulatory push for promoting bio-diesel production is expected to boost glycerol demand over the forecast period, with expected decline of synthetic products such as DEG and propylene glycol paving the way for glycerol to gain market penetration. Moreover, new developments by Ohio Soybean Council for the development of new glycerol products from soybean are expected to tap new applications over the next six years. However, surging food demand is expected to impact oilseed supply as a raw material for glycerol production.
Increasing diabetes prevalence and changing food habits are expected to augment the use of glycerol as a low-calorie source of lecithin and carbohydrate. Glycerol demand for food & beverage applications is expected to reach USD 417.9 million by 2022, growing at over 8%. Additionally, its sustainable nature is expected to augment glycerol market demand as a catalyst on account of adoption of green technology in refineries.
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Availability of raw materials such as palm oils in Malaysia and Indonesia of castor and rapeseeds oils in India is expected to attract manufacturers to Asia Pacific. Growing biofuel production, particularly in Europe, is expected to provide production avenues for participants.
The report “Glycerol Market Size, Price Trend, Research Report 2022” is available now to Radiant Insights customers and can also be purchased directly at: http://www.radiantinsights.com/research/glycerol-market
Key report insights suggest:
- Global Glycerol market size was estimated 2,443.9 tons in 2014 and is expected to witness annual gains at over 6.5% from 2015 to 2022.
- Asia glycerol market demand is estimated to reach USD 1.45 billion by 2022, with gains at over 9% throughout the forecast period. North America industry revenue was estimated at USD 311.4 million in 2014, with forecast of USD 501.1 million by 2022.
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- Demand in Europe is anticipated to grow at 5.5%, in terms of volume. Surging cosmetics demand in European countries such as Germany, France and England is expected to boost glycerol use as a moisturizer in skin care products.
- Revenue from personal care and pharmaceutical applications is estimated to exceed USD 1.1 billion by 2022.
Emerging applications such as healthcare and its potential as a chemical platform for renewable chemicals are expected to be critical for the development of the glycerol market over the next six years. Demand for polyether polyols is likely to grow at over 6.5% from 2015 to 2022.
- Global glycerol market is highly concentrated with South East Asian companies dominating due to geographic location suitable for oil plantations and increasing regional demand.
- The industry is very dynamic owing to frequent mergers and acquisitions by large companies in order to expand their business geographically and to increase their production capacity, with industry rivalry expected to be high over the forecast period.
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