Global glycerin market analysis and insights

The global glycerin market estimated at US$3.19 billion in the year 2024 is now projected to grow at a CAGR of 8.1% and reach US$5.93 billion by 2030. This substantial growth is expected to be driven by the increasing demand for glycerin in the personal care and pharmaceutical sectors. Glycerin’s moisturizing and skin-softening properties make it a popular ingredient in personal care products. In pharmaceuticals, glycerin is used in various formulations, including cough syrups and oral medications. This demand is also fueled by a rising consumer preference for bio-based products.

In the food and beverage industry, glycerin plays an essential role as a humectant, sweetener, and thickening agent, enhancing its utility in a variety of food products. The expanding global food processing industry and the trend towards natural additives boost glycerin’s applications within this sector.

The expansion of biodiesel production has also positively impacted the glycerin market. Glycerin is a by-product of biodiesel manufacturing, and as the global shift towards renewable energy continues, biodiesel production is rising accordingly. This trend ensures a steady and growing supply of glycerin, as governments and industries around the world support renewable energy for its environmental benefits.

Furthermore, glycerin’s versatility has paved the way for its use in various industrial applications, such as in the production of alkyd resins, polyether polyols, and as a chemical intermediate in other manufacturing processes. This broadening scope within industrial use contributes significantly to the market’s expansion, as more industries recognize glycerin’s practical applications in manufacturing and chemical processing.

Looking ahead, there are several key areas where the glycerin market shows future growth potential and opportunities. Technological advancements in glycerin production and refining are improving the quality and expanding the application scope of glycerin, meeting evolving demands across various industries. Additionally, with the global emphasis on sustainability, bio-based chemicals like glycerin are likely to see increased demand across industries as companies adopt more eco-friendly products and production methods.

Glycerin market regional insights

North American glycerin market is expected to grow significantly over the forecast period. This growth can be attributed to the robust demand for bio-based products in personal care and pharmaceuticals, along with the region’s strong biodiesel production and government support for renewable energy. United States contributed around 78% of the total North American glycerin market and is estimated to have a market value of US$461 million in the year 2024. Among the other noteworthy geographic markets are Canada and Mexico, each forecast to grow at 7.24% and 6.09% respectively over the 2024-2030 period.

Asia-Pacific glycerin market is anticipated to emerge as the fastest growing market with a CAGR of 9.73% over the analysis period, led by factors such as rapidly growing food and beverage sector in emerging Asian economies experiencing rapid consumerism; robust drug manufacturing activity supported by the rise in pharmaceutical contract manufacturing; and robust policy led demand for renewable chemicals. China is expected to dominate the Asia-Pacific market and reach a market size of US$1.48 billion by 2030.

Within Europe, France, Germany, and the U.K. are the key countries responsible for the significant growth of the regional market. Germany is expected to grow at a CAGR of 6.91% over the forecast period.

Meanwhile, the Middle East & Africa is expected to show limited growth due to the strong presence of under-developed countries in Africa who are still struggling to meet technology standards. However, any growth that the region experiences is expected to come from developing Middle Eastern nations such as Qatar, U.A.E, and Oman due to a similar growth pattern as the Asia Pacific.

Key players

Key players profiled in the report include AAK AB; Adeka Corporation; Aekyung Petrochemical Co. Ltd.; Aemetis, Inc.; Archer Daniels Midland Company; Avril SCA; Baerlocher GmbH; BASF SE; C. Thywissen GmbH; Cargill, Inc.; Cremer Oleo GmbH & Co. KG; Croda International PLC; Dow Chemical Company; Ecogreen Oleochemicals Pte., Ltd.; Emery Oleochemicals; Evonik Industries AG; IOI Group; KLK OLEO; Pacific Oleochemicals; Procter & Gamble Company; Thai Glycerine and Vantage Specialty Chemicals, among others.

Competitive landscape

October 01, 2024 – Argent Energy, a leading European biofuels manufacturer, has officially launched Europe’s largest facility dedicated to producing bio-based, technical-grade glycerine at its Port of Amsterdam site. The state-of-the-art refinery will upgrade crude glycerine, a by-product of Argent’s waste-based biodiesel process, into 99.7% pure technical-grade glycerine.

July 29, 2024 – Indian multinational food and beverage conglomerate Adani Wilmar, which also produces oleochemicals, has acquired a 67% stake in speciality chemical company Omkar Chemicals. Omkar Chemicals operates a manufacturing plant in Panoli, Gujarat, India, with a production capacity of approximately 20,000 tonnes/year of surfactants.

Global glycerin market scope

• By source
  • Natural
    • Vegetable oils
    • Animal fats
  • Synthetic

• By production process
  • Transesterification
  • Saponification
  • Hydrolysis (Fat splitting)
  • Others

• By industry vertical
  • Pharmaceuticals & healthcare
  • Cosmetics & personal care
  • Food & beverage
  • Chemicals
  • Polymer and plastics
  • Tobacco industry
  • Agriculture and animal feed
  • Others

• By region
  • North America
  • South America
  • Europe
  • Asia Pacific
  • Middle East and Africa

The research report  provides a comprehensive review of market trends, market growth drivers, PEST Analysis, Market growth inhibitors, and strategic industry activities and SWOT Analysis of key players in the market.

The report provides market estimates and forecast for geographic markets such as the North America (US, Canada, Mexico and Rest of North America), South America (Brazil, Argentina and Rest of South America), Europe (Germany, France, U.K., Russia, Italy, Spain, Sweden, Netherlands, Poland, Austria, Norway, Switzerland, Denmark and Rest of Europe), Asia-Pacific (China, Japan, South Korea, Taiwan, India, Australia and Rest of Asia-Pacific), Middle East (Iran, Turkey, Kuwait, UAE, Israel and Rest of Middle East) & Africa.