Global Glycerol Market 2017-2021
Glycerol is also referred to as glycerin, 1,2,3-trihydroxypropane, and 1,2,3-propanetriol. Glycerol and glycerin are interchangeably used in the market as both refer to the same chemical compound. Glycerol is typically used to refer to the chemical compound, whereas glycerin is the commercial term. Glycerol is found naturally in the form of triglycerides in several animal and plant sources such as tallow, palm, and soybeans. Various processing methods such as transesterification, hydrolysis, and saponification are used to produce glycerol.
Technavio’s analysts forecast the global glycerol market to grow at a CAGR of 8.73% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global glycerol market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Glycerol Market 2017-2021
Technavio recognizes the following companies as the key players in the global glycerol market: Emery Oleochemicals, IOI Group, Kuala Lumpur Kepong Berhad, Oleon, and Wilmar International.
Other Prominent Vendors in the market are: Archer Daniels Midland, Cargill, CREMER OLEO, Croda International, Godrej Industries, Procter & Gamble, and Kao.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is growth of personal care industry. Glycerol is extensively used as a thickening agent, emulsifier, lubricant, and humectant in cosmetic and personal care applications. Consumers in developed as well as developing countries such as the US, the UK, Australia, Canada, France, China, India, Saudi Arabia, and Germany spend heavily on cosmetics. So, the consumption of cosmetic products is high in these countries, which is attributed to the high disposable income.”
According to the report, one driver in market is growing production of biodiesel. Globally, there is a growing interest in alternate fuels on account of the uncertainty in global fuel prices, energy security, and the continuous rise in emission levels. There is a demand for fuels that reduce the carbon emission levels and have commercial possibilities. The gradual depletion of fossil fuel reserves has given rise to renewable biofuels. The R&D efforts worldwide have led to the use of biofuels, which are gradually moving to large-scale commercialization because their performance is similar to gasoline and diesel. Biofuel blends are now being used in regular vehicles with little or no modification to the engines, which is encouraging the use of blended fuels in vehicles. Biofuels produce lesser greenhouse gas emissions in comparison to conventional fuels depending on the blend. Biofuels also reduce the amount of sulfur and hydrocarbon emissions in the air.
Further, the report states that one challenges in market is fluctuating price of raw materials. Vegetable oils and animal fats are the two primary types of raw materials used in the manufacturing of glycerol. Another growing application of vegetable oil and animal fat is in biofuels. Animal fat is used as a raw material primarily in the North American and European markets. The major disadvantage of animal fat is that the supply of animal fats is inelastic. This is primarily because farmers and ranchers do not raise their animals for their fat and the year-over-year production rate has been marginally flat for the past 10 years. The demand for biofuels has been increasing over the past decade, and simultaneously the price of animal fat and vegetable oil had shown an increasing trend. The increase in the price of these raw materials is expected to hinder the market growth.
Emery Oleochemicals, IOI Group, Kuala Lumpur Kepong Berhad, Oleon, Wilmar International, Archer Daniels Midland, Cargill, CREMER OLEO, Croda International, Godrej Industries, Procter & Gamble, and Kao.
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