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Global Glycerin Market Introduction:

  • Glycerine is a product which contains fats and oils that have been saponified, hydrolysed, or transesterified. These are recovered in a crude state and subsequently purified by distillation or ion exchange, or synthesized from propylene. Glycerine may also be produced by fermentation or hydrogenolysis of carbohydrates; however, currently these methods are not utilized for large scale industrial production.
  • Glycerine is utilized in various applications due to its technical versatility. The key to glycerine's technical versatility is a unique combination of physical and chemical properties, ready compatibility with many other substances, and easy handling. Glycerine is also virtually nontoxic to human health and to the environment.
  • In terms of grade, the global glycerin market can be segmented into technical grade and pharmaceutical grade. The technical grade segment is expected to expand at significant pace during the forecast period owing to a rise in the use of technical grade glycerin as a platform chemical. In terms of manufacturing process, the global glycerin market can be classified into transesterification, saponification, fat splitting, and others. The transesterification segment is projected to expand at a significant pace during the forecast period. Transesterification is currently a widely adopted process to manufacture glycerin across the globe.

Key Drivers of Global Glycerin Market

  • Rise in use of glycerin in various industrial applications is expected to propel the market during the forecast period. Glycerin is utilized in diverse industrial applications such as personal care, pharmaceutical, food, alkyd resins, and automotive. Glycerin is a good solvent for numerous industrial compounds, pharmaceutical preparations, and flavour extracts. Several substances such as iodine, bromine, tannin, alkaloids, thymol, phenol, mercuric chloride, and boric acids are more soluble in glycerine as compared to that in water; therefore, glycerine is utilized to prepare highly concentrated solutions of these materials.
  • Increase in use of glycerin in foods and beverages is projected to boost the market during the forecast period. In food and beverages, glycerine acts as a humectant, solvent, sweetener, and preservative. It also acts as a solvent for flavours and food colors in soft drinks and confections and as a humectant and softening agent in candy, cakes, and casings for meats and cheese. Glycerine is also employed in dry pet foods to retain moisture and enhance palatability. Another important, but indirect, use of glycerine in food processing is represented by monoglycerides, the glycerol esters of fatty acids, which are emulsifiers and stabilizers for several products.

Global Glycerin Market Restraints

  • Volatility in prices of raw materials is projected to hamper the global glycerin market. Raw materials such as fats, carbohydrates, and oils are used in the preparation of glycerin. Prices of raw materials are witnessing volatility, as the supply chain has been disrupted due to the COVID-19 pandemic. Demand for these raw materials is also witnessing volatility. This hampers the prices significantly.
  • Lack of universal directives pertaining to applications of glycerin is also likely to hamper the market in the near future. Every country has different directives and legislations pertaining to the use of glycerin. Companies find it difficult to comply with these country-wise directives and legislations. This can discourage investment in the glycerin market, thereby restraining the market.

COVID-19 Impact on Glycerin Market

  • Glycerin plays an important role in various end-user industries such as automotive, personal care, pharmaceutical, food, and alkyd resins. Numerous production facilities of these end-user industries have halted production due to the COVID-19 pandemic. This has adversely affected the demand for glycerin. However, demand for some pharmaceutical products has increased during the pandemic. This has created a demand for glycerin in the manufacture of such pharmaceutical products.
  • Key players operating in the global glycerin market are primarily tier I and tier II manufacturers and suppliers. Manufacture and supply chain facilities of these manufacturers have spread across various countries in Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. Several of these players have halted their production output for the last few months due to the COVID-19 pandemic. The pandemic has negatively impacted the demand and supply chain of glycerin. Thus, the glycerin market is expected to contract in 2020.

Asia Pacific to Hold Major Share of Global Glycerin Market

  • In terms of region, the global glycerin market can be split into North America, Asia Pacific, Europe, Middle East Asia& Africa and Latin America
  • Asia Pacific is projected to hold a significant share of the global glycerin market, in terms of consumption, during the forecast period. End-user industries such as automotive, pharmaceutical, food & beverage, and personal care, are expanding rapidly in the region. Rise in disposable income and improvement in standard of living in numerous countries in Asia Pacific are boosting the demand for personal care products. This, in turn, is augmenting the demand for glycerin. Additionally, a rise in production and sale of passenger vehicles in China, India, Japan, and South Korea is expected to increase the consumption of glycerin in automotive applications, thereby boosting the market in these countries.
  • North America is expected to account for vital share of the glycerin market during the forecast period owing to the presence of major market players and expansion of the food and beverage industry in the U.S. and Canada

Prominent Key Players Operating in Global Glycerin Market

Major players operating in the global glycerin market are adopting various organic and inorganic growth strategies, such as joint ventures, mergers & acquisitions, expansion, collaborations, new product launches, strategic alliances, and research and development, to increase their regional presence and business operations. Key players operating in the market include;

  • Emery Oleochemicals
  • Wilmar International
  • Godrej Industries
  • Cargill Incorporated
  • P&G Chemicals
  • Kao Corporation
  • Avril Group
  • Vitusa Products Inc.
  • Twin Rivers Technologies
  • Timur Oleochemicals
  • Archer Daniels Midland Company
  • Croda International Plc
  • IOI Group
  • The Dow Chemical Company

Research Scope; Global Glycerin Market

Global Glycerin Market, by Grade

  • Technical grade
  • Pharmaceutical grade

Global Glycerin Market, by Manufacturing Process

  • Transesterification
  • Saponification
  • Fat splitting
  • Others

Global Glycerin Market, by Source

  • Vegetable Oils
  • Bio-diesel
  • Synthetic
  • Others

Global Glycerin Market, by Application

  • Industrial
  • Chemical intermediates
  • Food & Beverages
  • Others

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Glycerin Market

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