Glycerine also known as glycerol or glycerin, is a colourless, simple triol compound. Glycerine is found in lipids which are known as glycerides. It has antimicrobial and antiviral properties and is non-toxic in nature. Glycerine is a versatile and widely used chemical that is produced as a by-product of biodiesel production. The glycerine market is driven by the demand for glycerine in various end-use industries such as personal care, pharmaceuticals, food and beverage, and industrial applications. Glycerine is used as a sweetener and a thickener in the food and beverage industry.
The growing demand for food and beverage products is expected to drive the glycerine market. It is used as a humectant, sweetener, thickening agent in liquids, solvent, etc. The increasing demand for personal care and pharmaceutical products, the growing food and beverage industry, and the rising demand for sustainable products are some of the key factors driving the glycerine market.
In terms of raw material types, there are two types of glycerine natural glycerine which is derived from oils and fats from sources such as coconuts and oil palms, and synthetic glycerine which is derived from petroleum. Natural glycerine dominates the market owing to the rising awareness of the harmful effects of using synthetic glycerine. Natural glycerine is non-toxic and is highly preferred in the manufacture of personal care & cosmetics products. The rising demand for cosmetics will boost the glycerine market.
Asia Pacific is the largest market for glycerine, accounting for over 40% of the global market share followed by Western Europe and North America. The region is expected to continue its dominance during the forecast period due to the increasing demand for personal care products, pharmaceuticals, and food and beverage products. China is the largest producer and consumer of glycerine in the region.
Glycerine is widely used in personal care and pharmaceutical products such as lotions, soaps, and cough syrups due to its moisturizing and humectant properties. The increasing demand for these products is expected to drive the glycerine market.
With the rising awareness of the harmful chemicals used in the manufacture of personal care products, many companies like Johnson & Johnson, P&G, and Unilever are shifting their focus toward the use of natural glycerine in their products. Natural glycerine is non-toxic and water-soluble and is used in a variety of applications like moisturizers, oral care products, and hair products. The increasing demand for natural-based cosmetics will boost the glycerine demand in the forecast period.
Glycerine is a by-product of biodiesel production, and the increasing demand for biofuels is expected to increase the supply of glycerine in the market. Bio-diesel application is the fastest growing segment because glycerine is used as a by-product in the chemical and enzymatic production of biodiesel fuels and is also used to manufacture of bioethanol. Because of its low cost, biodiesel has become one of the most popular sources of glycerol, as a result of increased production of biodiesels as replacements for traditional diesel due to its recyclable, regenerative, and non-toxic features, as well as lower-emission attributes the supply of glycerine will increase rapidly.
Glycerine is produced as a by-product of biodiesel production, which is influenced by the fluctuating prices of crude oil. This can cause instability in the glycerine market and can hinder its market growth.
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