Global Glycerine Market Size Study, by Grade (USP Grade, Technical Grade), by Application (Personal Care, Food & Beverages, Pharmaceuticals, Polyether Polyols, Chemical Intermediate, Tobacco, Others), and Regional Forecasts 2022-2032

The Global Glycerine Market, valued at approximately USD 3.79 billion in 2023, is poised for, growing at a compound annual growth rate (CAGR) of 5.2% during the forecast period of 2024 to 2032. Glycerine, a versatile and non-toxic polyol compound, is widely used across various industries due to its exceptional physical and chemical properties. As a colorless, odorless, and viscous liquid with a sweet taste, glycerine finds extensive applications as a solvent, humectant, sweetener, and preservative. It is particularly valued in personal care formulations for its moisturizing capabilities, playing a crucial role in softening and smoothing the skin. Additionally, glycerine is employed in pharmaceutical production, as an ingredient in antifreeze, and in e-liquids for e-cigarettes, showcasing its broad applicability.

The Glycerine Market experienced challenges during the COVID-19 pandemic, particularly in major economies like India, China, and the U.S., where stringent lockdowns disrupted manufacturing activities, supply chains, and demand in key industries such as personal care, cosmetics, and chemical intermediates. However, the market has demonstrated resilience, rebounding as restrictions eased and economic activities resumed. The recovery has been fueled by the resurgence of demand from end-use industries, which are increasingly incorporating glycerine into their products.

One of the key trends driving market expansion is the rise in biodiesel production, which generates glycerine as a by-product. This increase in biodiesel output has led to a more abundant and affordable supply of glycerine, creating new opportunities for its use across various sectors. Notably, glycerine's potential as a sustainable base chemical for producing compounds such as propylene glycol is being explored, aligning with global sustainability goals and reducing dependence on crude oil-based feedstock. The increased availability of glycerine is prompting chemical manufacturers to develop new processes that leverage this versatile compound, further driving market growth.

The personal care and pharmaceutical industries significantly contribute to the growing demand for glycerine. Its exceptional moisturizing properties make it a key ingredient in numerous skincare, haircare, and personal hygiene products. Moreover, glycerine is highly valued in pharmaceuticals for its role as a solvent, sweetener, and excipient in various formulations, including cough syrups and topical ointments. The expansion of these industries, driven by higher disposable incomes and a growing focus on anti-aging products, is expected to boost glycerine demand during the forecast period. However, market growth is not without challenges. Fluctuations in raw material prices, influenced by global economic conditions and trade policies, can impact glycerine production costs and, consequently, market demand. The unpredictable nature of these price changes can disrupt supply chains, leading to cautious purchasing behavior among buyers and potentially limiting market expansion.

Regionally, Asia Pacific dominated the Glycerine Market in 2023, driven by robust growth in the personal care and pharmaceutical sectors, particularly in emerging economies like China and India. The region's industrial expansion and increasing biodiesel production also contribute to the market's leading position. Europe, with its stringent regulatory environment and strong emphasis on sustainability, is another key market for glycerine, particularly in the food, pharmaceutical, and cosmetics industries. North America, with its well-established beauty and skincare market and robust pharmaceutical industry, also plays a significant role in driving glycerine demand. Latin America and the Middle East & Africa regions, while smaller in market size, are expected to see growth driven by their expanding agricultural and biodiesel industries, as well as increasing urbanization and demand for personal care products.

Major market players included in this report are:

• Wilmar International Ltd (Singapore)
• Cargill Inc. (U.S.)
• Emery Oleochemicals (U.S.)
• IOI Corporation Berhad (Malaysia)
• Kao Corporation (Japan)
• Godrej Industries Limited (India)
• Croda International Plc (U.K.)
• P&G Chemicals (U.S.)
• KLK OLEO (Malaysia)
• CREMER OLEO GmbH & Co. KG (Germany)
• GLACONCHEMIE GmbH (Germany)
• Timur Network Sdn Bhd (Malaysia)
• Sakamoto Yakuhin Kogyo Co. Ltd (Japan)
• Twin Rivers Technologies, Inc. (U.S.)
• Avril Group (France)

The detailed segments and sub-segments of the market are explained below:

By Grade:

• USP Grade
• Technical Grade

By Application:

• Personal Care
• Food & Beverages
• Pharmaceuticals
• Polyether Polyols
• Chemical Intermediate
• Tobacco
• Others

By Region:

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• Rest of Asia Pacific
• Latin America
• Brazil
• Mexico
• Rest of Latin America
• Middle East & Africa
• Saudi Arabia
• South Africa
• Rest of Middle East & Africa

Years considered for the study are as follows:

• Historical year - 2022
• Base year - 2023
• Forecast period - 2024 to 2032

Key Takeaways:

• Market Estimates & Forecast for 10 years from 2024 to 2032.
• Annualized revenues and regional level analysis for each market segment.
• Detailed analysis of geographical landscape with Country level analysis of major regions.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approach.
• Analysis of competitive structure of the market.
• Demand side and supply side analysis of the market.