GlycerinCompanies (2024 - 2029)

Glycerin Market Companies Summary

The global glycerin market has seen significant changes due to the COVID-19 pandemic. The cosmetics industry, which heavily relies on glycerin, was negatively impacted due to lockdowns, travel bans, and retail closures, leading to a decrease in sales and usage across many beauty segments. However, industries like pharmaceutical and personal care saw an increased demand for glycerin during the pandemic, as its usage in hand sanitizers, soaps, handwash, and detergents increased. In the short term, the demand from the pharmaceutical industry and increasing usage in personal care and cosmetics are expected to drive the market. However, the availability of substitutes could hinder market growth. Despite this, the antifreeze and de-icing applications, which serve as substitutes for propylene and ethylene glycols, are predicted to create lucrative growth opportunities for the global market. The Asia-Pacific region, due to the rapid growth of countries like China, India, and Japan, is likely to dominate the market during the forecast period.