Growth Accelerated By Strong Demand From Pharmaceutical Industry
Growth Accelerated By Strong Demand From Pharmaceutical Industry
Glycerol or glycerine is commonly used as a moisturizer and skin conditioner in pharmaceutical, personal care
Glycerol or glycerine is commonly used as a moisturizer and skin conditioner in pharmaceutical, personal care, and cosmetic products due to its humectant properties. It helps retain moisture in products such as lozenges, mouthwashes, cough syrups, cough drops, throat sprays, oral rehydration solutions, anti-fog solutions, and eye drops.
The global Glycerol Market is estimated to be valued at US$ 3.15 billion in 2023 and is expected to exhibit a CAGR of 8.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The strong demand from the pharmaceutical industry has been one of the major trends driving the growth of the glycerol market. Glycerol finds widespread application in pharmaceutical products ranging from medications to cough syrups to throat sprays. Its moisturizing and water-absorbing properties make it useful for manufacturing products intended for internal and external usage. Additionally, glycerol acts as a carrier for active pharmaceutical compounds and helps improve their solubility and delivery. Growing prevalence of lifestyle diseases and greater awareness about personal care have resulted in higher demand for pharmaceuticals and personal care products which in turn is propelling the glycerol market forward. The market is expected to grow steadily over the forecast period with increasing research and development activities focused on leveraging glycerol's properties for newer pharmaceutical applications.
Segment Analysis
The global glycerol market is segmented based on source into biodiesel, tallow, vegetable oils, etc. The biodiesel segment currently dominates the market due to the high availability of biodiesel waste glycerol across regions. Biodiesel production is one of the major industrial processes that generates crude glycerol as a by-product. The crude glycerol is further processed and refined for use in various end-use industries.
Key Takeaways
The global Glycerol Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The market size is projected to grow from US$ 3.15 billion in 2023 to US$ 5.67 billion by 2030, at a CAGR of 8.4%.
Regional analysis
The Asia Pacific region is expected to be the fastest-growing as well as the most lucrative regional market for glycerol. The abundant availability of raw materials as well as the growth of end-use industries such as personal care & pharmaceuticals are major factors driving the glycerol market growth in the region. China and India are the key markets in the region. North America and Western Europe are also significant regional markets however their growth is expected to be relatively slower than the Asia Pacific region.
Key players
Key players operating in the glycerol market are Proctor & Gamble Chemicals, Dial Corporation, Croda, Dow Chemicals, Godrej Industries Ltd., Emery Oleochemicals, IOI Group, Kuala Lumpur Kepong Berhad, Wilmar International, and Sofiprotéol Group. Proctor & Gamble Chemicals and Dial Corporation have a significant market share in the personal care segment globally. 

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