Global glycerol market expected to reach $2.52 billion by 2020
The global market for glycerol is expected to reach $2.52 billion by 2020, according to a new study by Grand View Research Inc. Biodiesel emerged as the leading source of glycerol, accounting for over 1,400 kilo tons of glycerol production in 2013. Growing application market coupled with increased production of oleochemicals in Asia Pacific is expected to augment glycerol demand over the forecast period.
Personal care and pharmaceuticals were the largest application segment, with glycerol consumption exceeding 870 kilo tons in 2013. However, food and beverage is expected to be the fastest growing application segment at an estimated CAGR of 8.4 percent from 2014 to 2020, owing to improving lifestyle in emerging economies leading to increased consumption of processed and packed foods.
The report “Glycerol Market By Source (Biodiesel, Fatty Acids, Fatty Alcohols), By Application (Personal Care, Alkyd Resins, Polyether Polyols), Downstream Opportunities (Propylene Glycol, Epichlorohydrin, 1,3 Propanediol) And Segment Forecasts To 2020” is available now to Grand View Research customers and can also be purchased directly here. http://www.grandviewresearch.com/industry-analysis/glycerol-market.
Further key findings from the study suggest:
-Global glycerol demand was 2,247.2 kilo tons in 2013 and is expected to reach 3,469.2 kilo tons by 2020, growing at a CAGR of 6.4 percent from 2014 to 2020.
-Biodiesel was the largest source for production of glycerol accounting for 62.96 percent of the market in 2013. However, fatty alcohols are expected to be the fastest growing source for glycerol production at an estimated CAGR of 8.3 percent from 2014 to 2020.
-Alkyd resins and foods and beverages followed personal care and pharmaceuticals accounting for a market volume of 12.94 percent and 12.22 percent respectively.
-Asia Pacific was the leading regional market and accounted for 37 percent of market volume in 2013. It is also expected to be the fastest growing market for glycerol at an estimated CAGR of 7.8 percent from 2014 to 2020.
-The global glycerol market is highly concentrated with the top four companies including IOI Group, KL Kepong, Emery Oleochemicals and Wilmar International accounting for more than 65 percent of market revenue in 2013. Other companies operating in the market include P&G, Kao Corp., Cremer Gruppe and Oleon.