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Glycerine Market Top Companies Analysis To Grow Your Business in 2021

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Prapti Hinge
Glycerine Market Top Companies Analysis To Grow Your Business in 2021

The global glycerine market is set to gain traction from the increasing demand for bio-based fuels, such as biodiesel backed by rapid industrialization and urbanization. This information is given by Fortune Business Insights™ in a new report, titled, “Glycerine Market Size, Share & COVID-19 Impact Analysis, By Grade (USP Grade, and Technical Grade), By Application (Personal Care, Food & Beverages, Pharmaceuticals, Polyether Polyols, Chemical Intermediate, Tobacco, and Others), and Regional Forecast, 2020-2027.” The report further states that the market size was USD 1,622.8 million in 2019 and is projected to reach USD 2,405.5 million by 2027, exhibiting a CAGR of 5.2% during the forecast period.

How Was This Report Developed?

Our highly skilled analysts have conducted extensive primary and secondary research to create this special report containing COVID-19 impact. Through desk research, they came up with relevant qualitative and quantitative data associated with research objectives. They have analyzed the data sourced through primary research, thereby building recommendations and conclusions. The secondary research includes Porter’s Five Forces analysis to gain insights into the bargaining power of every link present in the value chain.

Drivers & Restraints

Rising Adoption of Natural & Organic Ingredients by Cosmetics Firms to Aid Growth

The rising inclination of consumers towards natural personal care and cosmetics products is set to propel the glycerine market growth in the coming years. This is mainly occurring because of the increasing awareness programs among the masses regarding the harmful effects of chemical ingredients. Hence, multiple reputed cosmetic manufacturers, such as L’Oréal, P&G, Unilever, and Johnson & Johnson are extensively using natural and organic ingredients to cater to the high demand. However, as glycerine is obtained during the biodiesel manufacturing process as a by-product, refiners are facing challenges in terms of profit margins and production owing to the fluctuations in prices. It may hinder growth.

Segment

Personal Care Segment to Generate Largest Share Backed by Usage in Toothpaste & Soaps

Based on the application, the personal care segment generated 26.7% in terms of glycerine market share in 2019. This growth is attributable to the increasing usage in the production of shaving cream, toothpaste, soaps, hair care, and skincare products. The segment is anticipated to procure the largest share throughout the forthcoming years stoked by the ability of the product to provide conditioning and reduced viscosity.

Regional Analysis

Expansion of Personal Care Industry to Propel Growth in Asia Pacific

Geographically, Asia Pacific held USD 733.0 billion in terms of revenue on account of the presence of some of the top companies in Japan, India, Indonesia, and Malaysia. China is set to dominate the regional market because of the expansion of the chemical, food, and personal care industry in the country. The USP grade segment accounted for 49.5% share in China.

Europe, on the other hand, is a key producer of glycerol and biodiesel worldwide. The rising production of biodiesel stoked by the increasing demand from various European countries would accelerate growth. Besides, the high demand for glycerine from the personal care and chemical industries in the U.S. will drive growth in North America.

Competitive Landscape

Key Players Focus on Expanding Their Production Capacities to Intensify Competition

The market houses a large number of prominent glycerine manufacturers that are mainly focusing on expanding their production capacities to fulfill the high demand. Some of the others are using glycerine in the manufacturing of hand sanitizers to tackle the growing demand amid the COVID-19 pandemic.

Source:

https://www.fortunebusinessinsights.com/glycerine-market-102168  

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