Glycerin is a natural, colorless, sweet-tasting thick liquid that freezes to a gummy paste. It has high boiling point of 290ºC. Glycerin can dissolved into water and alcohol, but not in oils. Glycerin is highly "hygroscopic" in nature, which means it can absorbs water from air. Glycerin is widely used in soaps and many beauty products. Glycerin is used in form of nitroglycerin to create dynamite. Although glycerin is not so explosive alone, but is processed before it is used as explosive. The compound of glycerin is used to preserve fruits, in inks, lotions and as a lubricant. Growing demand of such products in the market triggers the growth of glycerin market all across the globe.
Glycerin is used in various industries such as personal care, pharmaceuticals, cosmetics and toiletries, tobacco, food & beverages, polyether polyols and alkyd resins. In personal care, glycerin is used in hair care products, toothpaste, shaving cream, skin care and oral care products. Glycerin is also widely used in healthcare industry, mainly as a means of improving smoothness and providing lubrication. Across all applications, personal care and pharmaceuticals industry together accounts more than one-third share of total glycerin market in the world.
Glycerin is also used in the manufacturing of polyols for flexible foams and rigid polyurethane foams. The market size of polyols was estimated USD 14,400.8 million in 2011 and it is expected to reach around USD 22,402.1 million by 2017 at a CAGR of 7.5%. This growing market also offers large potential for growth of glycerin market. In alkyd resins industry, glycerin is used in surface coatings and paints. It is also use as a softener and plasticizer to impart toughness, flexibility and pliability.
Asia Pacific is one of the fastest growing markets for glycerin. Increasing household income leads to invest more on personal care product in which glycerin is used as a key ingredient. Due to large population base, Asia Pacific region is one of the prominent markets for glycerin. Growing economy in developing countries such as China and India leads to more investment on food and beverages, personal care and healthcare products. Growing application of glycerin ingredient in many industries also helps in the growth of glycerin market. Asia Pacific and Europe together holds more than 55% global market share of global glycerin market. Europe region accounts for the largest market share for glycerin in the world. Asia Pacific region holds the second largest market share in glycerin after Europe. The global glycerin market is expected to grow in a single digit during forecasted period 2014- 2020.
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Some of the major companies operating in global glycerin market are Archer Daniels Midland Company, BASF SE, Cargill, Inc., Croda International Plc, Ecogreen Oleochemicals, Cognis Corporation, Cognis Oleochemicals Group, Dial Corporation, Dow Chemical Company, Godrej Industries Ltd., IOI Oleochemical Industries Berhad, Acidchem International Sdn Bhd, Kao Corporation, Pacific Oleochemicals Sdn Bhd, Palm-Oleo Sdn Bhd, Procter & Gamble Chemicals, PT Cisadane Raya Chemicals, PT Sinar Oleochemical International, Setuza A. S. and United Coconut Chemicals, Inc.
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Key geographies evaluated in this report are:
- North America
- France, Germany, Italy, Spain, and the UK
- Eastern Europe
- Latin America
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Key features of this report
- Drivers, restraints, and challenges shaping the Glycerin market dynamics
- Latest innovations and key events in the industry
- Analysis of business strategies of the top players
- Glycerin market estimates and forecasts(2015 -2021)
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