The global market for glycerin is projected to reach USD 3.12 Billion by 2021, at a CAGR of 6.8% during the forecast period. The global glycerin industry is witnessing growth on account of increasing applications, and increasing demand in the Asia-Pacific region, mainly from China, Japan, and India.
Seattle, WA -- (SBWIRE) -- 06/12/2017 -- The report "Glycerin Market by Process (Transesterification, Saponification, Fat Splitting), Source (Vegetable Oils, Biodiesel, Soaps, Synthetic), Application (Industrial, Chemical intermediates), Grade, Region - Global Forecast to 2021", The global glycerin market was valued at USD 2.19 Billion in 2015 and is projected to reach USD 3.12 Billion by 2021, at a CAGR of 6.8% from 2016 and 2021.
Browse 106 market data tables and 45 figures spread through 151 pages and in-depth TOC on "Glycerin Market - Global Forecast to 2021"
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Increasing awareness among consumers regarding the benefits of natural ingredients is expected to benefit the growth of the glycerin market in the personal care, pharmaceuticals & healthcare, and food & beverages segments. Increasing scope of application of glycerin in producing chemical intermediates is also expected to drive demand during the forecast period.
Transesterification process led the glycerin market
Transesterification of triglycerides with alcohols is a reaction that is extensively used in biodiesel production plants. The growing demand for renewable sources of energy is expected to drive the biodiesel market from 2016 to 2021. This is expected to benefit the growth of the glycerin market, as transesterification is the most commonly used process for producing biodiesel from triglycerides.
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Demand for glycerin manufactured from vegetable oils to register the highest growth rate during the forecast period
Growing popularity of natural ingredients among end-use consumers such as cosmetics, food & beverages, and personal care industries is expected to lead to the growth of the glycerin market, for glycerin derived from vegetable oils. Glycerin produced from various plant lipids is called vegetable glycerin, and typical plant oils used to produce glycerin are palm oils, soy oils, coconut oils, and other oils.
Asia-Pacific region is the largest consumer of glycerin
The Asia-Pacific region is the largest market for glycerin, in terms of value, followed by Europe and North America. The growth can be attributed to the rapidly increasing consumption in countries such as China, India, and South Korea for personal care products. A steady demand since the past few years for hair care and oral care products along with rising consumer interest in color cosmetics is leading to the growth of glycerin production in the Asia-Pacific region. Rising income levels in these countries are also expected to drive the market in the food & beverages and cosmetics industries.
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The key players profiled in the report include Emery Oleochemicals (Malaysia), IOI Oleochemicals (Malaysia), KLK Berhad (Malaysia), Wilmar International (Singapore), Godrej Industries (India), Croda International Plc (U.K.), P&G Chemicals (U.S.), Kao Corporation (Japan), Avril Group (France), Cargill Incorporated (U.S.), Cremer (Germany), PT Smart Tbk (Indonesia), Vitusa Products Inc. (U.S.), Pacific Oleochemicals Sdn Bhd (Malaysia), PT Cisadane Raya Chemicals (Indonesia), Sakamoto Yakuhin Kogyo Co., Ltd. (Japan), PT Sumi Asih Oleochemicals Industry (China), Twin Rivers Technologies (U.S.), Olin Corporation (U.S.), PT Bakrie Sumatera Plantations Tbk (Indonesia), Timur Oleochemicals (Malaysia), and Vegetable Vitamin Foods Company Pvt Ltd. (India).
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