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APAC Glycerol Market Revenue to Reach $1.7 Bn Benchmark by 2026
Published Date: 2020-12-23
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According to the Graphical Research new growth forecast report titled “Asia Pacific Glycerol Market Size By Type (Crude, Refined), By Source (Biodiesel, Fatty Acids, Fatty Alcohols, Soap Industry), By Application (Personal Care & Pharmaceuticals, Pharmaceuticals, Alkyd Resins, Food & Beverages, Polyether Polyols, tobacco humectants)”, Estimated to Exceed USD 1.7 Billion by 2027.
Increasing demand for personal care and hygiene products, and pharmaceutical formulations, is likely to drive the product demand for the Asia Pacific glycerol Market. It is extensively used as a moisturizing agent in the preparation of face washes, shampoos, cleansers, body lotions, and ointments. Particles present in the glycerol easily attract moisture and soften the skin which provides healthy skin. Additionally, it is used in many medical treatments such as acne, anti-aging, blackhead removal, and many more. Owing to rising demand for glycerol in the pharmaceuticals and personal care sector, leads to drive Asia Pacific glycerol market.
The Crude glycerol registered a significant CAGR of over 9.5% in the forecast period. Crude glycerin includes glycerol, methanol, inorganic salts, fatty acids, methyl esters, mono-di-triacylglycerols, and water. Owing to its high energy it can be used as a substitute for boiler fuel and cogeneration of electricity.
In food & beverages, glycerin acts as a solvent, sweetener & preservative. It acts as a solvent for flavors &food coloring cases of soft drinks &confections and as a softening agent in food items like candy, cakes &casing for meats & cheese. Additionally, glycerol is used as an emulsifier and stabilizer in many food products such as bread, pasta, cake, peanut butter, coffee whitener, cheese, and many more. It is additional employed in dry pet foods to assist retain wet and enhance taste property. Owing to a rapid increase in the food and beverage sector the Asia Pacific glycerol market registered a CAGR of over 11 % during the forecast timeframe.
Based on applications alkyd resins anticipated growing at a CAGR of 11% during the forecast timespan. Alkyd resins are the reaction products of phthalic anhydride & glycerin which is commonly known as glyptal. It is widely used in paints and in molds for casting. Rapid industrialization along with construction activities in the Asia Pacific region may foster the demand for glycerol in the upcoming future.
China's glycerol market demand is likely to surpass USD 608 million by 2026. Rapidly increase medical sector, drug preparation usage along with rising in technology is driving the market growth. Furthermore, the rise in the usage of preservatives and emulsifiers in the food and beverages sector is the major factor positively affecting market growth. In addition, antiseptic and antiviral properties supporting the glycerol market which in turn stimulates the country's market demand.
Asia Pacific's food and beverage sector are well established owing to the rapid urbanization, disposable income, and economic growth in this region. Glycerol is used for a wide range of pharmaceuticals products such as drug preparation, hand sanitizers, disinfectants, oral mouthwashes, alcohol wipes, swabs, and many more. This is expected to foster the demand for glycerol in the market during the forecast timespan. Furthermore, growing personal hygiene and cleanliness norms along with increasing population, and per capita income is likely to drive the market and expected to remain positive, Asia Pacific glycerol market.
Key players in the Asia Pacific Glycerol Market are BASF, Procter & Gamble Chemicals, Godrej Industries Ltd., Dow Chemical Company, Archer Daniels Midland, United Coconut Chemicals, Inc., The Chemical Company, Kao Corporation, Emery Oleochemicals LLC PMC Biogenix, Inc., CREMER OLEO GmbH & Co. KG, Emery Oleochemicals LLC, Sakamoto Yakuhin Kogyo Co. Ltd., and Vitusa Products Inc.