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Purchase ReportGlycerol Market Size
The glycerol market was valued at over $4.9 billion in 2023 and is expected to record a 4.5% CAGR between 2024 and 2032.Size, byProduct, 2024 - 2032{USD Billion} The glycerol market was valued at over $4.9 billion in 2023 and is expected to record a 4.5% CAGR between 2024 and 2032. request a free sample copy
Glycerol Market Size
On account of its properties as a moisturizing, emollient, and lubricating agent, glycerol has emerged as an important ingredient in skin care, hair care, and oral cleansers. Increased consumer demand for organic natural personal care products is boosting the use of glycerol derived from plant and animal fats. The growing pharmaceutical industry is further employing the product in the manufacture of cough medicines and elixirs.
Furthermore, glycerol is employed as a flavoring agent, moisturizer, and preservative in baked goods, confectionaries, and beverages. Developments in refining technology have led to the growth of new applications in bio-based polymers and antifreeze agents. The biodiesel sector is also contributing significantly to the market expansion, as it is a by-product of biodiesel production.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| Glycerol Market Size in 2023 | USD 4.9 billion |
| Forecast Period | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR | 4.5% |
| 2032 Value Projection | USD 7.8 billion |
| Historical Data for | 2021-2023 |
| No. of Pages | 374 |
| Tables, Charts & Figures | 270 |
| Segments covered | Product Type, Source, Application |
| Growth Drivers |
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| Pitfalls & Challenges |
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Glycerol Market Trends
The increasing adoption of glycerol in the production of bio-based chemicals and materials will favor the market growth. As industries move towards more sustainable practices, glycerol is helping in the production of eco-friendly products, such as biodegradable polymers and solvents. The increasing popularity of green chemicals has led to the alternative use of glycerol in the manufacturing of non-toxic deicing agents for antifreeze. Developments in biotechnology are also enabling the product's use in fermentation processes to produce biofuels and bioplastics, further expanding its market potential.
Glycerol Market Analysis
Learn more about the key segments shaping this market
The refined segment of the industry recorded over USD 4.1 billion in size in 2023 and is projected to generate over USD 6.7 billion by 2032, thanks to its high purity and versatility, which make it suitable for a wide range of high-value applications. Refined glycerol, characterized by high glycerin content and low impurity levels, is important in the pharmaceutical, food, and personal care industries. In the pharmaceutical industry, it acts as a flavor enhancer and preservative in a variety of medicines for improving the efficacy and safety of the products.
Learn more about the key segments shaping this market
Glycerol market value from the biodiesel segment is expected to reach over USD 5.5 billion by 2032, owing to the substantial volume of glycerol produced as a byproduct during biodiesel manufacturing. The biodiesel industry is growing rapidly due to increasing global emphasis on renewable energy and reducing carbon footprints. The high glycerol yield from biodiesel production reduces the cost and increases the stability of glycerol delivery for facilitating its use in pharmaceutical, cosmetic, food & beverage (F&B), and other industries.
Looking for region-specific data?
The glycerol market in the Asia Pacific surpassed USD 1.9 billion in 2023 and is expected to reach over USD 3.1 billion by 2032, attributed to the expanding biodiesel production, particularly in countries like Indonesia and Malaysia, which are major producers of palm oil. Growing pharmaceutical and personal care industries, driven by increasing health literacy and higher disposable incomes, are driving the demand for high-purity glycerol. This is expanding the product demand in pharmaceutical, skin care, and hair care items, further stimulating the regional market growth.
Glycerol Market Share
Leading glycerol firms are adopting strategies, such as vertical integration and diversification, along with strategic collaboration with biodiesel producers to expand their portfolio. Vertical integration is allowing these companies to control the entire production process, from raw materials to final delivery, to ensure quality and cost-effectiveness. Investments in R&D activities are also essential to develop new glycerol-based products.
Global Glycerol Market – Regional Size Breakdown (2023–2032)
| Region | 2023 (USD Billion) | 2032 (USD Billion) | CAGR (2024–2032) | Key Growth Drivers |
|---|---|---|---|---|
| Asia Pacific | 1.86 | 2.73 | 4.5% | Strong biodiesel production (Indonesia, Malaysia), rising personal care demand, expanding pharmaceutical sector |
| Europe | 1.32 | 1.94 | 4.5% | Mature biodiesel industry, high adoption of refined glycerol in cosmetics & food sectors |
| North America | 1.08 | 1.59 | 4.5% | Growth in biobased chemicals, oleochemical production, pharma and food-grade glycerol usage |
| Latin America | 0.39 | 0.57 | 4.5% | Expanding biodiesel production (Brazil), increasing demand for food & beverage additives |
| Middle East & Africa | 0.25 | 0.36 | 4.5% | Growing industrial applications, potential for biodiesel expansion, rising cosmetic consumption |
| Total Market | 4.90 | 7.19 | 4.5% |
Glycerol Market Companies
Major players operating in the glycerol industry include
- P&G Chemicals
- BASF
- Kao Corporation
- Dow Chemical Company
- Archer Daniel Midland
- Wilmar International
Glycerol Industry News
- In December 2022, the Care Chemicals division of BASF introduced Euperlan NL Pearl, the first wax-based pearlizer for meeting the COSMOS standard. The innovation is made with natural ingredients, such as cocamidopropyl betaine and glycerol oleate.
- In January 2023, Xylome released two sustainable alternatives to refined, bleached, and deodorized palm oil, created through precision yeast fermentation. These products replaced traditional palm oil in various applications.
This glycerol market includes in-depth coverage of the industry, with estimates & forecasts in terms of revenue and volume (USD Million) (Tons) from 2021 to 2032, for the following segments
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By Product Type
- Crude
- Refined
By Source
- Biodiesel
- Fatty Acids
- Fatty Alcohols
- Soap Industry
By Application
- Personal Care
- Pharmaceuticals
- Alkyd Resins
- Foods & Beverages
- Polyether Polyols
- Tobacco Humectants
- Others
By Downstream Application
- Propylene glycol
- Epichlorohydrin
- Acrylic Acid
- 1,3-Propanediol
- Acrylonitrile
The above information is provided on a regional and country basis for the following
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Russia
- Spain
- Netherlands
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Thailand
- Malaysia
- Latin America
- Brazil
- Argentina
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa