Glycerol Market to Garner $5.1 Billion, Globally, By 2031 at 1.7% CAGR, Says Allied Market Research

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Jun 14, 2022, 08:50 ET

Increased adoption of natural products and rise in biodiesel production to boost the glycerol supply and demand chain drive the growth of the global glycerol market.

PORTLAND, Ore., June 14, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, 'Glycerol Market by Source (Biodiesel, Fatty Alcohol, Fatty Acid, and Others), Product (Refined Glycerin and Crude Glycerin), and End-use Industry (Personal Care, Food & Beverages, Pharmaceuticals, and Others): Global Opportunity Analysis and Industry Forecast, 2022–2031.' According to the report, the global glycerol industry was estimated at $4.3 billion in 2021, and is expected to hit $5.1 billion by 2031, registering a CAGR of 1.7% from 2022 to 2031.

Drivers, restraints, and opportunities-

Increased adoption of natural products and rise in biodiesel production to boost the glycerol supply and demand chain drive the growth of the global glycerol market. On the other hand, fluctuating prices of raw materials impede the growth to some extent. However, surge in demand from emerging economies is expected to create lucrative opportunities in the industry.

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Covid-19 scenario-

Rise in awareness about personal hygiene and surge in demand for hand sanitizers during the pandemic led to increased demand for glycerol, thus driving the growth of the global glycerol market.
This trend is most likely to continue even after the pandemic is over.

The biodiesel segment to retain the lion's share-

By source, the biodiesel segment held the major share in 2020, garnering around three-fifths of the global glycerol market. The same segment is also projected to cite the fastest CAGR of 2.0% throughout the forecast period. Increased demand for biofuels and the fact that glycerol is a key by-product in the manufacturing process of biodiesel drive the segment growth.

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The refined glycerol segment to dominate by 2030-

By product, the refined glycerol segment contributed to the lion's share in 2020, holding more than three-fourths of the global glycerol market. The same segment is also anticipated to manifest the fastest CAGR of 1.8% from 2021 to 2030. Increased demand for refined glycerol from end-use industries such as pharmaceutical, personal care, and food & beverages propels the segment growth.

Asia-Pacific, followed by Europe and North America, held the major share in 2020-

By region, Asia-Pacific, followed by Europe and North America, dominated in 2020, garnering around half of the global glycerol market. The same region is also expected to cite the fastest CAGR of 1.9% throughout the forecast period, due to the increased demand from the pharmaceutical and personal care industries. Moreover, the region has a large consumer base for the food industry.

Key players in the industry-

Emery Oleochemicals
Kao Corporation
Oleon NV
Wilmar International Ltd.
IOI Oleochemical
Musim Mas Group
Ecogreen Oleochemicals
KLK OLEO
Croda International
Procter & Gamble Chemicals

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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