The increasing demand for hybrid vehicles in European Union and North America countries has led to increased consumption of biodiesel. With the aim of reducing carbon footprint, many Europeans have been considering buying alternative fuel vehicles, some of which run on biodiesel. An estimated 852,933 alternative fuel vehicles were purchased and registered in the European Union in 2017. The global glycerin market is complex and unpredictable and complex, since it is a byproduct in the production of biodiesel. The biggest consumers of glycerin is expected to be from the Asia-Pacific region considering its rising demand in beauty and cosmetic products. Pharmaceutical application is expected to be the largest market. Glycerin caters to applications in Agro, cosmetics, pharmaceutical excipient, food, lubricants, oil and gas, personal care and other industries. Its primarily used in applications as an emulsifier, anti-freeze, solvent and humectant.
What is Glycerin?
Glycerin is a trihydroxy sugar alcohol and is commercially known as glycidic alcohol, 1,2,3-propanotriol, glyceritol or trihydroxypropane. It is widely used as a pharmaceutical agent, emollient, solvent or sweetening agent.
Market Research and Market Trends of Glycerin Market
- The need to develop robust water treatment methods using a minimum amount of chemicals became even more vital after the occurrence of several outbreaks of waterborne pathogens through water treatment systems.
- The price of glycerin have been decreasing since the beginning of 2018 due to decreasing demands from China. In Europe refined glycerin prices have dropped by 20% since the start of the year.
- All the key players are now manufacturing glycerin with Kosher and Halal certifications so as to cater to all markets especially Jewish and Muslim customers who are specific about their religious rulings. Glycerin used to be made from animals fats specially pork fat which is forbidden to consume and utilize in some religions. Thus, many customers would refrain from consuming and utilizing such glycerin products especially in food and beverages.
Who are the Major Players in Glycerin Market?
The key players in the manufacturing of Glycerin are P&G Chemicals, Cargill Incorporated, KLK OLEO, Oleon and Wilmar International Ltd.
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