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Global Market for Glycerin to Reach 6.7 Billion Pounds by 2020, Forecasts Global Industry Analysts

Published on 2014-06-19. Author : SpecialChem

GIA announces the release of a comprehensive global report on Glycerin markets. Global market for Glycerin is forecast to reach 6.7 billion pounds by 2020, driven by growing demand for glycerin in both conventional and newer end-use applications.

Consumption patterns in the global glycerin market are heavily dependent on economic factors. Growing demand from various end-use applications including pharmaceuticals & personal care, food & beverages, tobacco, polyether polyols, alkyd resins, paints & coatings, lubricants, textiles, paper, biological research, fabric softeners, cellophane, explosives, and epoxy resins, among others are expected to push the demand for glycerin over the analysis period.

Apart from its use in various conventional applications, Glycerin has been explored as a base chemical for the production of a host of renewable chemical intermediates, and other non-conventional applications such as use in animal feed ingredients. Rising corn prices, and availability of surplus crude glycerol are factors encouraging use of glycerin as a substitute to corn in the animal feed industry. Researchers worldwide are stepping up efforts to develop new uses for crude glycerin. Commercialization of these new applications is expected to enhance the economics of biodiesel production. In the coming years, new applications that are on the brink of commercialization such as environmentally-sustainable epichlorohydrin, propylene glycol and 1,3-propanediol will pump growth in the market. While epichlorohydrin is being used as a component of resins, UV coatings and paper reinforcement; 1,3-propanediol is being used for the production of laminates, adhesives, UV curings and polyesters.

Increased investments in biotechnology research and growing trend towards stem cell preservation are helping boost growth in the market. Companies are focusing on technologies that would help in the generation of biochemicals from glycerin. Government initiatives in various countries are also being targeted towards the development of oleochemicals, bio-fuels, bio-fertilizers, livestock feed, biomass products, nutraceuticals, and specialty food, all of which are expected to raise demand for glycerin. New applications will help tackle issues related to surplus glycerol, obtained as a by-product during biodiesel production. Rising use of glycerol across newer and innovative applications is thus likely to liberate the glycerin market from price volatility issues linked to oversupply.

As stated by the new market research report on Glycerin, Asia-Pacific represents the largest as well as the fastest growing market worldwide, driven by rapidly growing demand from various end-use industries in India, China, and South Korea. The region is expected to surge at a CAGR of 9.4% over the analysis period. Other factors driving demand include economic prosperity, consumer disposable income, and rising production activities.

Major players covered in the report include Archer Daniels Midland Company, BASF SE, Cargill Inc., Peter Cremer Holding GmbH & Co KG, Croda International Plc, Ecogreen Oleochemicals (Singapore) Pte Ltd., Emery Oleochemicals Group, FPG Oleochemicals Sdn Bhd, Godrej Industries Ltd., IOI Group, Kao Corporation, Pacific Oleochemicals Sdn Bhd, Palm-Oleo Sdn Bhd, PMC Biogenix, Procter & Gamble Chemicals, PT. Cisadane Raya Chemicals, PT. SOCIMAS, PT. Sumi Asih Oleochemical Industry, Sakamoto Yakuhin Kogyo Co Ltd., Solvay SA, The Dow Chemical Company, Twin Rivers Technologies Inc., Vantage Oleochemicals Inc., VVF Ltd. and Vitusa Products, among others.

The research report titled "Glycerin: A Global Strategic Business Report" announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, regulations, issues, challenges, mergers, acquisitions, and other strategic industry activities of major players worldwide. The report provides market estimates and projections for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Middle East & Africa, and Latin America (Brazil, Mexico and Rest of Latin America). End-use applications analyzed include Pharmaceuticals & Personal Care, Food & Beverages, Tobacco, Polyether Polyols, Alkyd Resins and Others.

About Global Industry Analysts, Inc. (GIA)

Global Industry Analysts, Inc. (GIA) is a reputed publisher of off-the-shelf market research. Recognized as one of the most consistently accurate forecasting company in the world, GIA currently serves more than 8,500 companies from 36 countries worldwide. The company was founded in 1987, initially recognized globally as a research boutique specializing in the medical industry. Over the past 23 years, the company expanded its coverage and now publishes extensively upon more than 180 major industries.

Source: Global Industry Analysts

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