The global Glycerine Market is forecast to reach USD 4,603.0 Million by 2028, according to a new report by Reports and Data. Glycerine or Glycerinee is a simple polyol organic compound having multiple hydroxyl groups with a clear, odorless, viscous liquid formation. This viscous liquid naturally comes with a sweet taste. It is derived from both natural and synthetic sources. Glycerine is widely obtained through the transesterification process where animal fats or vegetable oils are mixed with alcohol in the presence of a catalyst. The global Glycerine market is growing at a substantial pace due to the growing demand for Glycerine in consumer goods applications such as personal care, cosmetics, tobacco humectants and personal lubricants, to name a few. The refined Glycerine is extensively in demand as the traditional market such as consumer goods and food beverages are solely dependent upon refined Glycerine.
Reports and Data's Global Glycerine Market research report is an in-depth investigation that provides an industry-wide overview of existing and emerging growth patterns, end-user analysis, and other key data that has been tested and validated by industry experts and professionals. The report examines the market in terms of importance, share, size, demand and supply, patterns, competitive landscape, industrial chain analysis, and other important factors. The report also provides a detailed outlook for the industry's driving and restraining forces, as well as micro and macroeconomic factors that are expected to influence its development.
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Top Companies: Wilmar International Ltd., Godrej Industries, Croda International PLC, PG Chemicals, Emery Oleochemicals, Cargill Incorporated, IOI Oleo GmbH, Dow Chemical Company, Kuala Lumpur Kepong Berhad, and KAO Corporation.
Further key findings from the report suggest:
NitroGlycerine, an essential ingredient used in the processing of various explosives such as dynamite, gelignite, and the smokeless propellants namely cordite, requires Glycerine as the chemical intermediate.
The food-grade edible Glycerine is used in the low-fat frozen yogurts, icy desserts, and ice creams, among others. The Glycerine are used to prevent the formation of the ice crystals in the frozen foods. The food beverages segment is expected to grow at a CAGR of 4.8% in the period 2020 to 2028.
Refined Glycerine is substantially being in demand as the consumption of Glycerine-based consumer goods are significantly rising and most of those products are made from refined Glycerine. The refined Glycerine sub-segment was valued USD 1.85 Billion in 2018. China is the largest consumer of the global refined Glycerine.
Glycerinee which comes as a product of chemical reactions beginning with synthetic source, and petroleum, fall under this sub-segment. However, the market for this sub-segment synthetic Glycerinee is expected to gradually diminish in the forthcoming period, since the natural source of Glycerine is readily available as a byproduct of several industrial usage.
European region is forecasted to witness a significant growth in the overall market, with 25.6% of market possession by 2027, having grown with a CAGR of 3.1% during the forecast period. Germany holds some of the most prominent players in this region.
North America, is accounted to retain a significant position in the global market with a market share of about 25.8% by 2027, with a CAGR of 4.9% during the forecast period. The United States itself packed in more than 16% of the entire market valuation in 2018.
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
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The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
The global Glycerine market is segmented into:
Type of Glycerine Outlook (Revenue, USD Billion; Unit, Million Tons 2018-2028)
Processing Outlook (Revenue, USD Billion; Unit, Million Tons 2018-2028)
- Fat Splitting
Source Outlook (Revenue, USD Billion; Unit, Million Tons 2018-2028)
- Vegetable Oil
- Animal Fat
End-Use Verticals Outlook (Revenue, USD Billion; Unit, Million Tons 2018-2028)
- Medical Pharmaceuticals
- Chemical Intermediate
- Food Beverages
- Consumer Goods
- Industrial Usage
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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