H2 2023: In the third quarter of 2023, Glycerine prices declined in North America. This decline, averaging stemmed primarily from a surplus of Glycerine, significantly impacting on its market value. To counter this challenge and mitigate potential losses, traders strategically opted to reduce their price quotations. The substantial decrease in Glycerine prices can be attributed to a marked reduction in the cost of its primary raw material, Palm oil, which had a considerable impact on production costs in exporting nations, leading to lower prices. Furthermore, significant price reductions in exporting countries like Indonesia and Malaysia, prompted US market participants to also slash their prices. In the fourth quarter of 2023, the North American Glycerine market witnessed moderate price declines. This was driven by surplus production and reduced demand from downstream industries. This surplus, coupled with declining raw material costs such as palm oil, exerted downward pressure on glycerine prices. Moreover, global increases in shipping expenses and disruptions in the supply chain contributed to the price decline. Additionally, the downstream pharmaceutical sector adopted a wait and buy purchasing approach.
H1 2023: The key Glycerine producers in H1 2023 were The Dow Chemical Company, Renova S.A., and Emery Oleochemicals. However, Dow Chemical Group was the top producer of Glycerine globally. Regionally, Asia Pacific region was dominating the global Glycerine market in H1 2023. However, the price of the commodity fell in H1 2023. Glycerin market price was low in the Asia Pacific region due to low demand from downstream industries like food, drug and healthcare industries. Additional factors like low price of raw edible oils such as palm oil also affected the glycerin market in the Asian nations. Demand in the domestic market was also low in the months of January 2023-March 2023. The downward pricing trend of feedstock palm oil and other edible oils in the Asia Pacific region further led to the poor prices of glycerin in the Asia Pacific region. However, North America witnessed a fluctuating market behavior for Glycerine in H1 2023. By the end of January 2023, the weak glycerine demand in the region led to low prices in the region. The market scenario was affected by sufficient inventory levels in the region and a slump of the raw material palm oil and other edible oils, which resulted in low production costs in the region.
The global Glycerine market stood at approximately 4594 thousand tonnes in 2023 and is expected to grow at a CAGR of 5.37% during the forecast period until 2034. The market is anticipated to grow due to expanding demand for Glycerine in the Pharmaceutical Industry.
Glycerine is a natural substance with a sweet taste. It is a thick liquid and is colorless, odorless, and non-toxic. Triglycerides, esters of glycerol with long-chain carboxylic acids, are the most commonly used raw material for synthesizing glycerol. Plant and animal sources generally contain triglycerides. Glycerine is synthesized when these triglycerides are either hydrolyzed, transesterified, or saponified. Furthermore, Glycerine can also be synthesized by a variety of propene-based processes.
Glycerine is widely utilized in the food and beverage industries as a sweetener. Furthermore, it is employed as an emollient in medicinal and cosmetic formulations. Due to the hydroxyl groups, Glycerine has water-absorbing properties. Glycerine is antibacterial and antiviral qualities. It is frequently used in cosmetic, pharmaceutical, and personal care preparations to improve the smoothness and suppleness of the skin and heal skin damage. Glycerine is employed in the pharmaceutical industry for allergen immunotherapies, cough syrups, elixirs and expectorants, glycerine soaps, and water-based personal lubricants. The most popular remedy for chronic angina, the chest discomfort caused by heart disease, is nitroglycerin. By using topical pure or pure glycerol, psoriasis, wounds, cuts, scars, rashes, bedsores, and blisters can be treated.
The market drivers of the global Glycerine market are the healthcare, cosmetic, and medical industry. The medication of Glycerine is used as a moisturizer to treat or prevent dry, rough, scaly, itchy skin and minor skin irritations in the healthcare industry. The rising awareness regarding hygiene is further propelling the demand for Glycerine by the cosmetic and healthcare industry and is likely to boost the market globally in upcoming years. Due to having antimicrobial and antiviral properties, Glycerine is widely used in the pharmaceutical sector. The Glycerine market will most likely expand and reach approximately 8149 thousand tonnes in 2034.
Regionally, Asia Pacific is the dominating region all over the world that demands the most significant volume of Glycerine. This region consumed roughly 48% of the global Glycerine market in 2023. In the upcoming years, the global Glycerine market is anticipated to grow in this region due to rising demand in the food and beverage industry for Glycerine as a sugar alternative and for food preservation applications in countries like India and China. As China is one of the major consumers of Glycerine, rapidly increasing demand in other end-use industries, including pharmaceutical, automotive, food and beverages, and others, is likely to boost the Glycerine market in the Asia Pacific region. Furthermore, North America also holds a prominent market position after Asia Pacific region. Moreover, USA is the leading producer of the global Glycerine market.
Based on the end-use, the Glycerine market is segmented into applications like Drug Formulations, Oral Demulcent, Emollient & Humectant, and Others. Drug Formulations is the largest application. The usage of Glycerine for other applications like Solvent, Capsule Coating, and Excipient is also expected to exponentially grow in the forecast period.
Significant companies for Global Glycerine are The Procter & Gamble Company, Dow Chemical, Renova S.A., Emery Oleochemicals, Vantage Specialty Chemicals, Louis Dreyfus Company, General Lagos, BOJAGRO S.A., Vance Group Ltd., Owensboro Grain Company, The Vegetables Vitamins Foods Company Pvt. Ltd., PMC Biogenix, Inc., and Thai Glycerine Co., Ltd.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2023
Estimated Year: 2024
Forecast Period: 2025-2034
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The objective of the Study:
• To assess the demand-supply scenario of Glycerine, which covers the production, demand, and supply of Glycerine around the globe.
• To analyze and forecast the market size of Glycerine.
• To classify and forecast the Global Glycerine market based on end-use and regional distribution.
• To examine global competitive developments such as new capacity expansions, mergers & acquisitions, etc., of the Glycerine market.
To extract data for the Global Glycerine market, primary research surveys were conducted with Glycerine manufacturers, suppliers, distributors, wholesalers, and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for the Global Glycerine market over the coming years.
ChemAnalyst calculated Glycerine demand across the globe by analyzing the volume of Glycerine consumed by the end-use applications and the forecast is calculated based on the growth rate of end-use applications. ChemAnalyst sourced these values from industry experts and company representatives and externally validated them by analyzing the historical sales data of respective manufacturers to determine the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Glycerine manufacturers and other stakeholders
• Organizations, forums and alliances related to Glycerine distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Glycerine manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Glycerine market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
|
Attribute
|
Details
|
|
Market size Volume in 2023 |
4595 thousand tonnes |
|
Market size Volume by 2034 |
8150 thousand tonnes |
|
Growth Rate |
CAGR of 5.37% from 2024 to 2034 |
|
Base year |
2023 |
|
Estimated year |
2024 |
|
Historic Data |
2015 – 2023 |
|
Forecast period |
2025 – 2034 |
|
Quantitative units |
Demand in thousand tonnes and CAGR from 2024 to 2034 |
|
Report coverage |
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use Application, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Foreign Trade, Manufacturing Process. |
|
Segments covered |
By End-Use: (Drug Formulations, Oral Demulcent, Emollient & Humectant, and Others)
By Sales Channel: (Direct Sale and Indirect Sale) |
|
Regional scope |
North America, Europe, Asia Pacific, Middle East and Africa, and South America. |
|
Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
Available Customizations:
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.
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Q1.
What was the global market size of Glycerine in terms of volume for 2023?
Ans:
The global market size of Glycerine was approximately 1315 thousand tonnes in 2023, and it is expected to soar with a CAGR of 4.51% in the forecast period.
Q2.
What are the major end-use application of Glycerine?
Ans:
Glycerine is majorly employed in Drug Formulations.
Q3.
Do you offer single or multiuser license?
Ans:
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Will I get access to the analyst who authored this report?
Ans:
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