Natural Glycerin Manufacturing Industry. Start a Glycerol/ Glycerine Production Business.
Global market is expected to reach $3.12 billion by 2021
Glycerin, also referred to as glycerol or 1, 2, 3-propanetriol, is a polyhydric alcohol and part of triglycerides mainly found in vegetable and animal oil. Glycerin is derived either from natural resources or from petroleum feedstock. It is a byproduct generated during the manufacturing of biodiesel and soap. Some of the prominent applications of Glycerin include its use for moisture retention or as humectant in personal care. It is also used in medical formulations and industrial chemical manufacturing.
Pharmaceutical application will continue to dominate the market for glycerin during the forecast period. Glycerin is an important raw material used for manufacturing products such as creams, jellies, eye-drops, syrups, and lozenges among others due to its smoothening, moisturizing, and sweetening properties. Increase in spending on medication and rising use of new and expensive medicinal products due to increasing health concern has propelled the consumption of pharmaceutical products in the recent years.
Glycerin is mainly used in cosmetics and personal care products to enhance the smoothness and moisture content of the skin. It is found in facial moisturizer, body lotion, sunscreen, makeup, hair care, facial treatments, shaving cream etc. It acts as a humectant that prevents the premature loss of moisture from cosmetic products and it has a cooling effect on the skin. Growing awareness about skin challenges, urge to maintain an even skin tone, demand for anti-aging skin cosmetics and desire to look beautiful and young is driving the product sales, allow deeper penetration and expansion into newer markets. Moreover, increasing product demand from pharmaceutical end-user, will help the glycerin market to further grow till the end of forecast period.
The global glycerin market is projected to reach $3.12 billion by 2021, at a CAGR of 6.8% from 2016 to 2021, in terms of value.
The global glycerin industry is witnessing growth due to increasing applications, technological advancements, and increasing demand in the Asia-Pacific region, mainly from China, India, and South East Asia. The single most long term growth potential for glycerin in the personal care segment is from the rapid urbanization, increasing disposable incomes, and growing preference for natural ingredients among consumers. However, oversupply and low profitability may hamper the growth of the glycerin market.
The industrial applications represent the bulk of the demand for glycerine. High demand for glycerin in toothpaste, facial creams, and other cosmetics is expected to benefit its market in the personal care industry during the forecast period. Glycerin is used for pharmaceutical and medical preparations, mainly as means for improving smoothness, providing lubrication, and humectants. It is used in cough syrups, elixirs, and expectorants. Glycerin is used for excipient uses only in the personal care industry, and serves as a humectant, solvent, and lubricant. It is used as a moisturizing agent in facial creams and other cosmetic products to keep the skin soft and replace skin moisture. It is the basic media for toothpaste which maintains its desired smoothness and viscosity and gives shine to the paste.
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.
Based on end-use industries, global glycerin market can be segmented into food & beverages, pharmaceuticals & healthcare, personal care, and others such as automotive, etc. The extensive use of the product in the personal care segment as a thickening agent, emulsifier, lubricant, and humectant will contribute to the growth of this segment. The additional advantages such as low toxicity and solubility will also supplement the glycerin market growth.
Based on source, glycerin market is segmented into vegetable oils, bio-diesel, synthetic and others such as soaps, fatty acids etc. Biodiesel has become a major source of crude glycerin attributed to the advancement of transesterification and will significantly accelerate the glycerin market growth.
An increasing production of biodiesel and the regulations related to it; rising efforts towards the development of novel applications; and a growing preference and demand for bio-renewable chemicals are factors that are likely to boost the growth of the global glycerin market over the forecast period. However, fluctuations in supply as well as availability of substitutes is likely to hinder growth of the global glycerin market over the forecast period.
Global glycerin manufacturers include Emery Oleochemicals (Malaysia), IOI Oleochemicals (Malaysia), Wilmar International (Singapore), KLK Berhad (Malaysia), Godrej Industries (India), Croda International Plc (U.K.), Cargill Incorporated (U.S.), P&G Chemicals (U.S.), Kao Corporation (Japan), and Avril Group (France), among others.
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