Market Size of Glycerin Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Glycerin Market Analysis
The Global Glycerin Market is projected to register a CAGR of over 6% during the forecast period.
The COVID-19 pandemic impacted the cosmetics industry, one of the major industries of glycerin consumption. As a result of months of lockdowns, international travel bans, and retail business closures; sales, purchases, and usage fell across many beauty segments. However, the demand for glycerin increased for end-user industries like pharmaceutical and personal care during the pandemic, owing to its increased usage in hand sanitizers, soaps, handwash, and detergents.
- In the short term, the strong demand from the pharmaceutical industry coupled with increasing usage in the personal care and cosmetics industries are expected to drive the market studied.
- On the flip side, the availability of substitutes is expected to hinder the market's growth. Some substitutes include diethylene glycol, ceramides, oils, and butter.
- Nevertheless, the antifreeze and de-icing applications as substitutes for propylene and ethylene glycols will likely create lucrative growth opportunities for the global market.
- Asia-Pacific is likely to dominate the market during the forecast period owing to the rapid growth of countries like China, India, and Japan.
Glycerin Industry Segmentation
Glycerin is a polyol compound with a simple structure. It is a colorless, odorless, viscous liquid with a sweet flavor that is also non-toxic. The glycerol backbone is found in glycerides, lipids with a glycerol backbone. The glycerin market is segmented by grade, source, application, and geography. By grade, the market is segmented into crude and refined glycerin, By source, the market is segmented into biodiesels, fatty acids, fatty alcohols, and other sources. By application, the market is segmented into pharmaceuticals, food and beverage, alkyd resins, personal care and cosmetics, industrial chemicals, polyether polyols, tobacco humectants, and other applications. The report also covers the market size and forecast for the glycerin market in 16 countries across major regions. For each segment, the market sizing and forecast have been done based on volume (kiloton).
| Grade | |
| Crude Glycerin | |
| Refined Glycerin |
| Source | |
| Biodiesels | |
| Fatty Acids | |
| Fatty Alcohols | |
| Other Sources |
| Application | |
| Pharmaceuticals | |
| Food and Beverage | |
| Alkyd Resins | |
| Personal Care and Cosmetics | |
| Industrial Chemicals | |
| Polyether Polyols | |
| Tobacco Humectants | |
| Other Applications |
| Geography | |||||||
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Glycerin Market Size Summary
The glycerin market is poised for significant growth, driven by its extensive application in the pharmaceutical and personal care industries. The demand for glycerin surged during the COVID-19 pandemic, particularly in the production of hand sanitizers and other hygiene products, despite the initial downturn in the cosmetics sector due to lockdowns and travel restrictions. Glycerin's role as a humectant and its ability to enhance the smoothness and moisture retention in personal care products have made it a staple ingredient in cosmetics, skincare, and oral care products. However, the market faces challenges from the availability of substitutes like diethylene glycol and ceramides, which could potentially hinder growth. Nonetheless, glycerin's use in antifreeze and de-icing applications presents new opportunities for market expansion.
The Asia-Pacific region is expected to dominate the glycerin market, with countries like China, India, and Japan leading the charge. The rapid growth of the cosmetics and personal care sectors in China, driven by rising demand for premium products and an expanding workforce, underscores the region's significance. Japan's robust pharmaceutical market and India's expanding soap manufacturing industry further contribute to the region's market dominance. The glycerin market is characterized by consolidation, with major players such as Emery Oleochemicals, IOI Corporation Berhad, and Wilmar International Ltd actively investing in capacity expansion and strategic acquisitions to strengthen their market positions. These developments, coupled with the increasing demand for glycerin in various applications, are expected to drive the market's growth trajectory in the coming years.
Glycerin Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Strong Demand from the Pharmaceutical Industry
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1.1.2 Increasing Use in the Personal Care and Cosmetics Industries
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1.2 Restraints
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1.2.1 Availability of Substitutes
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1.2.2 Other Restraints
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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1.5 Feedstock Analysis
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1.6 Price Analysis (Historical and Forecast)
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2. MARKET SEGMENTATION (Market Size in Volume)
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2.1 Grade
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2.1.1 Crude Glycerin
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2.1.2 Refined Glycerin
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2.2 Source
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2.2.1 Biodiesels
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2.2.2 Fatty Acids
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2.2.3 Fatty Alcohols
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2.2.4 Other Sources
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2.3 Application
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2.3.1 Pharmaceuticals
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2.3.2 Food and Beverage
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2.3.3 Alkyd Resins
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2.3.4 Personal Care and Cosmetics
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2.3.5 Industrial Chemicals
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2.3.6 Polyether Polyols
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2.3.7 Tobacco Humectants
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2.3.8 Other Applications
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2.4 Geography
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2.4.1 Asia-Pacific
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2.4.1.1 China
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2.4.1.2 India
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2.4.1.3 Japan
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2.4.1.4 South Korea
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2.4.1.5 Rest of Asia-Pacific
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2.4.2 North America
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2.4.2.1 United States
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2.4.2.2 Canada
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2.4.2.3 Mexico
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2.4.2.4 Rest of North America
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2.4.3 Europe
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2.4.3.1 Germany
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2.4.3.2 United Kingdom
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2.4.3.3 Italy
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2.4.3.4 France
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2.4.3.5 Rest of Europe
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2.4.4 South America
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2.4.4.1 Brazil
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2.4.4.2 Argentina
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2.4.4.3 Rest of South America
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2.4.5 Middle-East and Africa
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2.4.5.1 Saudi Arabia
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2.4.5.2 South Africa
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2.4.5.3 United Arab Emirates
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2.4.5.4 Rest of Middle-East and Africa
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Glycerin Market Size FAQs
What is the current Glycerin Market size?
The Glycerin Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
Who are the key players in Glycerin Market?
Emery Oleochemicals, IOI Corporation Berhad, Wilmar International Ltd, Kao Corporation and Cargill, Incorporated are the major companies operating in the Glycerin Market.
