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Glycerine Market Expanding Worldwide by 2027; Fortune Business

  • The global glycerine market  is set to gain traction from the increasing demand for bio-based fuels, such as biodiesel backed by rapid industrialization and urbanization. This information is given by Fortune Business Insights™ in a new report, titled, “Glycerine Market Size, Share & Industry Analysis, By Grade (USP Grade, and Technical Grade), By Application (Personal Care, Food & Beverages, Pharmaceuticals, Polyether Polyols, Chemical Intermediate, and Others), and Regional Forecast, 2020-2027.” The report further states that the glycerine market size was USD 1,622.8 million in 2019 and is projected to reach USD 2,405.5 million by 2027, exhibiting a CAGR of 5.2% during the forecast period.

     

     

    How Was This Report Developed?

    Our highly skilled analysts have conducted extensive primary and secondary research to create this special report containing COVID-19 impact. Through desk research, they came up with relevant qualitative and quantitative data associated with research objectives. They have analyzed the data sourced through primary research, thereby building recommendations and conclusions. The secondary research includes Porter’s Five Forces analysis to gain insights into the bargaining power of every link present in the value chain.

    Drivers & Restraints-

    Rising Adoption of Natural & Organic Ingredients by Cosmetics Firms to Aid Growth

    The rising inclination of consumers towards naturalpersonal care and cosmetics products is set to propel the glycerine market growth in the coming years. This is mainly occurring because of the increasing awareness programs among the masses regarding the harmful effects of chemical ingredients. Hence, multiple reputed cosmetic manufacturers, such as L’Oréal,P&G, Unilever, and Johnson & Johnson are extensively using natural and organic ingredients to cater to the high demand. However, as glycerine is obtained during the biodiesel manufacturing process as a by-product, refiners are facing challenges in terms of profit margins and production owing to the fluctuations in prices. It may hinder growth.

    Segment-

    Personal Care Segment to Generate Largest Share Backed by Usage in Toothpaste & Soaps

    Based on application, the personal care segment generated 26.7% in terms of glycerine market share in 2019. This growth is attributable to the increasing usage of glycerine in the production of shaving *****, toothpaste, soaps, hair care, and skincare products. The segment is anticipated to procure the largest share throughout the forthcoming years stoked by the ability of the product to provide conditioning and reduced viscosity.

     

    Regional Analysis-

    Expansion of Personal Care Industry to Propel Growth in Asia Pacific

    Geographically, Asia Pacificheld USD 733.0 billion in terms of revenue on account of the presence of some of the top companies in Japan, India, Indonesia, and Malaysia. China is set to dominate the regional market because of the expansion of the chemical, food, and personal care industry in the country. The USP grade segment accounted for 49.5%share in China.

    A list of all the renowned glycerine producers operating in the global market:

    • Wilmar International (Singapore)
    • Emery Oleochemicals (Malaysia)
    • IOI Group (Malaysia)
    • KLK OLEO (Malaysia

     

    Information Source

    https://www.fortunebusinessinsights.com/glycerine-market-102168