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The glycerol market share is expected to increase by USD 1.18 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 7.55%.
This glycerol market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers glycerol market segmentation by application (pharma and personal care, foods and beverages, alkyd resins, polyether polyols, and others), source (biodiesel, fatty acids, fatty alcohols, and soap industry), and geography (APAC, North America, Europe, South America, and MEA). The glycerol market report also offers information on several market vendors, including Aemetis Inc., Archer Daniels Midland Co., Cargill Inc., Croda International Plc, Dow Inc., Emery Oleochemicals LLC, IOI Corporation Berhad, Lumitos AG, The Procter and Gamble Co., and Wilmar International Ltd. among others.
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"Increasing demand for non-petroleum product alternatives for cosmetics will facilitate the glycerol esters market growth in APAC over the forecast period."
The favorable government policies is notably driving the glycerol market growth, although factors such as fluctuating raw material prices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the glycerol industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Glycerol Market Driver
The favorable government policies is one of the key drivers supporting the glycerol market share growth. Acid rains, greenhouse gas emissions, ozone layer depletion, air pollution, and effects of chemical fertilizers and pesticides on water bodies are being closely monitored by the regulatory bodies. Meanwhile, glycerol has been earmarked as an eco-friendly product that does not contribute to greenhouse gas emissions, hazardous pollutants, and VOCs and, thus, is promoted by the government and preferred by the consumers. REACH has implemented certain rules in Europe to promote the use of oleochemicals and biodegradable substances to manufacture surfactants and detergents. This has had a significant impact on the glycerol market in Europe as it is widely used in products such as finger paints, anti-freeze products, biocides, and others. Thus, favorable government policies are expected to significantly drive the growth of the global glycerol market during the forecast period as well.
Key Glycerol Market Trend
The increasing demand for glycerol in propylene glycol and epichlorohydrin production is another factor supporting the glycerol market share growth. It is mainly used in the synthesis of propylene glycol and epichlorohydrin as well as their derivatives. Epichlorohydrin is manufactured by treating glycerol and hydrogen chloride. There is an increasing demand for epichlorohydrin as it is used as a precursor in the synthesis of many organic compounds, such as glycidyl nitrate, which is used in propellants and explosives. In addition, epichlorohydrin is used to manufacture tea bags and coffee filters and in water purification applications. Thus, the demand for propylene glycol and epichlorohydrin is expected to augment market growth during the forecast period.
Key Glycerol Market Challenge
The fluctuating raw materials prices may impede the market growth during the forecast period. Vegetable oil or animal fat are the two main raw materials required to manufacture glycerol. The supply of animal fat remains inelastic, owing to farmers and ranchers not raising their animals for fat and the year-on-year production rate being marginally flat. This has been the major factor underlying the fluctuating prices of animal fat. Furthermore, the demand for these raw materials has increased in producing biodiesel, which has also contributed to the increase in animal fat and vegetable oil prices. Thus, the inelastic raw material supply and the fluctuations in the prices of these materials are hindering the market growth during the forecast period.
This glycerol market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the glycerol market as a part of the global commodity chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the glycerol market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the glycerol market encompasses successful business strategies deployed by the key vendors. The glycerol market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The glycerol market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the glycerol market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the commodity chemicals market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
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50% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for the glycerol market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The increased demand for glycerol from the pharma and personal care segment will facilitate the glycerol market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 in 2020 affected the regional market due to the imposition of restrictions, which led to shutdowns in the glycerol manufacturing units. Glycerol, which is also used in hand sanitizers, recorded an increase in demand during the pandemic. However, in the course of the pandemic, the country's hand sanitizer manufacturing potential went up. Thus, the glycerol demand in the market increased during the pandemic and is expected to continue during the forecast period.
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Application
Market Segmentation by Source
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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