Glycerol Market Is Projected To Be Around $3.07 Billion By 2022
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A research study titled, “Glycerol Market by source and application - Global Industry Analysis and Forecast to 2022” published by Crystal Market Research, states that the Glycerol Market is projected to be around $3.07 billion by 2022.
The global Glycerol market was worth USD 1.89 billion in the year of 2014 and is expected to reach approximately USD 3.07 billion by 2022, while registering itself at a compound annual growth rate (CAGR) of 5.44% during the forecast period. Glycerol also known glycerin is a polyol combination. It is odorless, translucent and thick liquid that has a sweet taste and is non-toxic. It is extensively utilized in the food industry as sweetener and as a humectant in pharmaceutical applications. Glycerol has three hydroxyl bunches that are in charge of its solvency in water and its hygroscopic nature. It is commonly derived from plant and animal sources. It is utilized for the preservation food, as a sweetener and as thickener in liqueurs. Certain glycerol manufacturing processes include saponification, hydrolysis, and transesterification. Glycerol consists of high nutrition values and excellent non-toxicity that makes it extensively useful in a number consumer items.
Dominant applications of biofuels and increasing demand of oleochemicals are expected to bolster the growth of this market. Glycerol renders high nutrition values and excellent non-toxicity that increases its utilization I a number of applications thereby having a positive impact on the growth this market. The potential of glycerol as a stage synthetic for inexhaustible chemicals generation hold scope as interchange alternatives are examined for effective credibility It is useful in several applications such as food sweeteners, to antifreeze chemicals and explosives, and preservatives, widely relying on its chemical characteristics. However, unpredictable supply of feedstock may hinder the growth of this market.
On the basis of source the global Glycerol market is segmented into Biodiesel, Soap industry, fatty alcohols and Fatty acid. On the basis of application the global Glycerol market is segmented into Tobacco humectants, Polyether polyols, Alkyd Resins, Foods & beverages, Personal care & pharmaceuticals. The major players in this market are Emery Oleochemicals, Wilmar International, Godrej Group, Archer Daniels Midland, Kao Corporation, Twin Rivers Technologies, Sakamoto Yakuhin Kogyo Company Ltd, Pacific Oleochemicals Sdn Bhd, Henkel North American Consumer Goods and Vitusa Products Inc. Geographically, the market is segmented into North America, Asia Pacific, Europe and Rest of the world.
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Key findings of the Glycerol market
- In 2013 biodiesel was the largest source of manufacturing of glycerol that registered for 62.96 percent of the global share. However, fatty alcohols are anticipated to be fastest growing source of glycerol manufacturing in the upcoming years.
- In 2013 the demand for glycerol was 2,247.2 kilo tons and is anticipated to boost in the upcoming years
- In 2013 Asia Pacific was the largest regional market of glycerol that registered for 37 percent of the market volume.
- Alkyd resins and foods & beverages followed personal care & pharmaceuticals that registered for a market volume of 12.94 percent and 12.22 percent.