Glycerol Market Analysis Report by Type, Material, Application, Region and Segment Forecasts

Glycerol Industry Overview

The global glycerol market size is estimated to reach USD 3.7 billion by 2027, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.4% from 2021 to 2027. Improved standard of living coupled with growing consumer demand for high quality and innovative personal care products is expected to drive the market over the forecast period. Glycerol is a thick, clear, and odorless polyol that belongs to the alcohol family of organic compounds. It is produced by the hydrolysis of fats and natural oils present in plants and animals.

The raw materials used in the production of the product are primarily vegetable oils, animal fats, sugar alcohol, and fatty acids, among others. Local manufacturers in the developed economies of Europe and North America mainly source these raw material ingredients due to the lack of availability in their regions. As glycerol is obtained from biodiesel, it is renewable in nature and a clean-burning fuel, which is widely used for industrial purposes.

Glycerol Market Segmentation

Grand View Research has segmented the global glycerol market on the basis of source, type, end-use, and region:

Based on the Source Insights, the market is segmented into Biodiesel, Fatty Alcohols, Fatty Acids, and Soap.

• Biodiesel was the dominating source segment in the market for glycerol in 2020 and accounted for the largest revenue share of 59.5%. The segment is anticipated to witness a CAGR of 6.3% in the coming years.
• The soap segment accounted for more than 10.0% of the revenue share in 2020. This is attributed to increasing demand for soaps mainly in the personal care application, as it imparts moisture to the skin, which is anticipated to positively impact market growth over the forecast period.
• The fatty alcohols segment is predicted to witness the highest CAGR in the forecast period. This is attributed to its wide usage in the manufacturing of surfactants and detergents. The growing demand for fatty alcohol in the aforementioned industries is likely to trigger product demand and thus, is expected to boost market growth for glycerol over the forecast period. 

Based on the Type Insights, the market is segmented into Crude, and Refined.

• The refined segment dominated the market for glycerol and accounted for the largest revenue share of 75.0% in 2020.
• The crude segment is predicted to witness a CAGR of 5.9% in the predicted years. Crude glycerol mostly contains impurities such as free fatty acids and methanol, making it a less preferred product in the market for glycerol.
• The rising demand for crude glycerol in personal care and nutraceuticals applications is expected to positively impact the market growth over the projected years. 

Based on the End-use Insights, the market is segmented into Food & Beverage, Pharmaceutical, Nutraceutical, Personal Care & Cosmetics, Industrial, and Others.

• The personal care and cosmetics segment dominated the market for glycerol and accounted for the largest revenue share of 40.8% in 2020.
• This is attributed to an increase in demand for personal care and pharmaceutical products as a result of improving lifestyle, coupled with increasing health awareness among the population in emerging economies across the Asia Pacific and Latin America.
• The pharmaceutical segment is projected to witness the most significant CAGR in the forecast period. This is attributed to the usage of the product in pharmaceuticals owing to its nutritive value and healing properties.
• Other applications of the product include food preservatives, tobacco, and the production of perfumes and explosives. 

Glycerol Regional Outlook

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

The market is highly competitive in nature due to the presence of a large number of multinationals that are engaged in constant research and development activities. The global companies are also focusing on capacity expansions, signing partnership agreements with distributors, and various other operational strategies to gain an edge in the competitive market space.

Some of the prominent players in the glycerol market include:

• Cargill Incorporated
• BASF SE
• Procter & Gamble Chemicals
• Oleon NV
• KLK OLEO
• Dow Chemical Company
• ADM
• Wilmar International Ltd.
• Pacific Oleochemicals Sdn Bhd
• Kao Corporation

Order a free sample PDF of the Glycerol Market Intelligence Study, published by Grand View Research.