(MENAFN- EIN Presswire) EINPresswire/ -- The global glycerol industry was estimated at $4.3 billion in 2021, and is expected to hit $5.1 billion by 2031, registering a CAGR of 1.7% from 2022 to 2031.

Allied Market Research published a report, titled, 'Glycerol Market by Source (Biodiesel, Fatty Alcohol, Fatty Acid, and Others), Product (Refined Glycerin and Crude Glycerin), and End-use Industry (Personal Care, Food & Beverages, Pharmaceuticals, and Others): Global Opportunity Analysis and Industry Forecast, 2022–2031.

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Drivers, restraints, and opportunities-

Increased adoption of natural products and rise in biodiesel production to boost the glycerol supply and demand chain drive the growth of the global glycerol market. On the other hand, fluctuating prices of raw materials impede the growth to some extent. However, surge in demand from emerging economies is expected to create lucrative opportunities in the industry.

Key players in the industry-

Emery Oleochemicals

Kao Corporation

Oleon NV

Wilmar International Ltd.

IOI Oleochemical

Musim Mas Group

Ecogreen Oleochemicals

KLK OLEO

Croda International

Procter & Gamble Chemicals

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Key Findings Of The Study

The report outlines the current glycerol market trends and future scenario of the market from 2021 to 2031 to understand the prevailing opportunities and potential investment pockets.

The glycerol market size is provided in terms of revenue and volume.

On the basis of source, the biodiesel segment is expected to grow at a CAGR of 2.6%, in terms of revenue, during the forecast period.

Depending on product, the refined glycerol segment is expected to grow at a CAGR of 2.4%, in terms of revenue, during the forecast period.

Europe contributed the 22.0% market share in 2021 and is projected to grow at CAGR of 1.7% during the forecast period.

On the basis of end-use industry, the personal care industry has garnered 28.3% of market share and is projected to grow at 2.1% during the forecasted period.

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The biodiesel segment to retain the lion's share-

By source, the biodiesel segment held the major share in 2020, garnering around three-fifths of the global glycerol market. The same segment is also projected to cite the fastest CAGR of 2.0% throughout the forecast period. Increased demand for biofuels and the fact that glycerol is a key by-product in the manufacturing process of biodiesel drive the segment growth.

The refined glycerol segment to dominate by 2030-

By product, the refined glycerol segment contributed to the lion's share in 2020, holding more than three-fourths of the global glycerol market. The same segment is also anticipated to manifest the fastest CAGR of 1.8% from 2021 to 2030. Increased demand for refined glycerol from end-use industries such as pharmaceutical, personal care, and food & beverages propels the segment growth.

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Asia-Pacific, followed by Europe and North America, held the major share in 2020-

By region, Asia-Pacific, followed by Europe and North America, dominated in 2020, garnering around half of the global glycerol market. The same region is also expected to cite the fastest CAGR of 1.9% throughout the forecast period, due to the increased demand from the pharmaceutical and personal care industries. Moreover, the region has a large consumer base for the food industry.

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