Global Glycerin Market - Segmented by Type, Application and End-User Industry – Trends and Forecasts (2017 - 2022)
The market has been estimated at USD XX.XX million in 2016 and is projected to reach USD XX.XX million by 2022, at a CAGR of X.X% during the forecast period, 2017 to 2022.Glycerin is an organic compound composed of carbon, hydrogen and oxygen. It is clear, sweet-tasting, colorless, thick liquid which freezes to a gummy paste and has a high boiling point. Glycerin can be dissolved into water or alcohol, but not oils. Glycerin can dissolve many things easier than they do in water or alcohol, so it is considered as a good solvent. It is used as raw material for the manufacturing of different types of chemical intermediates, including plasticizers, surfactants and solvents. Glycerin is used in various industries such as pharmaceuticals, personal care, food & beverages, tobacco, alkyd resins & polyether polyols, whereas compounds of glycerol are used to preserve lotions, inks, fruits and lubricants. Market Dynamics Global glycerin market is mainly driven by the increase in biodiesel production and governmental regulations over the mandatory blending of biodiesel and an abundant availability of glycerin. For antifreeze and de-icing applications, glycerin is finding its way as a substitute for propylene and ethylene glycols. One of the major restraints on the global glycerol market focused on in the report is the volatile nature of feedstock supply and prices. Market Segmentation The global glycerin market is segregated by application, end-user industry and geography. By application, the global glycerin market is segmented into pharmaceuticals, food & beverages, alkyd resins, personal care, industrial chemicals, polyether polyols, tobacco humectants and others, including textile, explosives, paper, etc. Personal care and pharmaceutical applications dominated the regional demand, accounting for over 38% of the total consumption in 2014.The market has also been geographically segmented into Asia-Pacific, North America, Europe, South America, and the Middle East & Africa. Asia-Pacific remains the largest regional industry, with revenue estimates of over USD X.XX billion by 2020. Availability of raw material such as palm oil in Malaysia, castor oil in Indonesia and rapeseed oil in India is expected to attract manufacturers to Asia-Pacific. Rapidly changing lifestyles of individuals, supplemented by improving economies and the growing amount of disposable incomes of individuals are some of the key factors that have caused the Asia-Pacific region to dominate the global market. The U.S. glycerol market size is dominated by bio-diesel as the predominant source, with consumption forecast to exceed XX.XX-kt by 2022. With bio-diesel being the prominent source, the European glycerol consumption is forecast to exceed XX.XX-kt by 2022. Opportunities and Market Players –The development of new applications using low-cost glycerin is a key growth strategy adopted by major players in the market. Some of the major companies dominating the market for glycerin production and uses are - • The Dow Chemical Company • Kuala Lumpur Kepong Berhad • P&G Chemicals • Godrej Industries (Chemicals) • Louis Dreyfus Company Agriculture Industries • Archer Daniels Midland Company • VVF L.L.C. • IOI Corporation Berhad • Wilmar International Ltd. Key Deliverables in the Study • Market analysis for the global glycerin market, with country-specific assessments and competition analysis. • Market definition along with the identification of factors instrumental in changing the market scenario and prospective opportunities. • Identification of rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale. • Identification and analysis of the macro and micro factors that affect the global glycerin market on both, global and regional scales. • A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information. • A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information. • A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market. • Insights on the major countries/regions where this industry is growing and identify the regions that are still untapped.