Global Glycerol Market to Grow at Almost 9% CAGR Through 2021: Technavio

LONDON–(BUSINESS WIRE)–#Biochemicals—Technavio
analysts forecast the global
glycerol market to reach USD 3,099.2 million by 2021
during the forecast period, according to their latest report.

The research study covers the present scenario and growth prospects of
the ‘Global
Glycerol Market for 2017-2021’. The report further segments the
market based on application (personal care and pharmaceuticals, alkyd
resins, foods and beverages, polyether polyols, and tobacco humectants),
source (biodiesel, fatty acids, fatty alcohols, and soap industry), and
geography (the Americas, APAC, EMEA, and ROW).

Owing to increasing demand for sustainable and biodegradable chemicals,
the global market for glycerol is witnessing considerable growth. The
low-cost and eco-friendly factors of glycerol are helping it to replace
traditional petrochemicals in biolubricants and biopolymers. The growing
demand for personal care and pharmaceuticals, soap and detergents, food
and beverages, polymers, chemical synthesis, and lubricants and greases
industries will drive this market during the forecast period.

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Technavio analysts highlight the following three factors that are
contributing to the growth of the global glycerol market:

• Growth in food and beverage industry
• Growing production of biodiesel
• Positive attitude of government agencies toward environment-friendly
  products

Growth in food and beverage industry

There has been a significant increase in the global food production, and
the growth is mainly driven by the Asian and African regions. The global
food production has increased by over three times in the past 50 years.
Over the next five years, the beverage industry is expected to grow at a
CAGR of over 3%.

Ajay Adikari a lead bio-chemicals
and bio-materials research analyst at Technavio, says, “Minimal
growth in sales in the soft drinks and beer categories will be
experienced by developed regions such as North America and Europe. There
has been a shift in consumption pattern in the developed countries. It
has been seen that consumers prefer functional beverages compared to
carbonated drinks. Food and beverage industry makes wide use of glycerol
as an additive. Thus, the growth in the food and beverage industry is
expected to propel the demand for glycerol.”

Growing production of biodiesel

Because of uncertainty in global fuel prices, energy security, and the
continuous rise in emission levels, there has been an increasing
interest in the adoption of alternate fuels. There has been a rise in
demand for renewable biofuels with the gradual depletion of fossil
fuels. The R&D efforts worldwide have led to the use of biofuels, which
are gradually moving to large-scale commercialization because their
performance is like gasoline and diesel.

“The use of blended fuels in vehicles is increasing as these fuels
can be used in regular vehicles and the modifications needed to the
engines are minimal or null. Biofuels produce lesser greenhouse gas
emissions in comparison to conventional fuels depending on the blend.
Biofuels also reduce the amount of sulfur and hydrocarbon emissions in
the air,” adds Ajay.

Positive attitude of government agencies toward environment-friendly
products

The increase in green practices is primarily driven by the diverse
benefits, which includes increased cost saving and favorable regulations
by government agencies. The primary focus of the green industry is to
make profit with minimal or negligible effect on the environment. Past
decades have seen some major environmental concerns emerging from the
chemical industries that includes acid rains, increase the level of
greenhouse gasses, hole in the ozone layer, increasing air pollution,
and effect of chemical fertilizers and pesticides on streams and rivers.

Top vendors:

• Emery Oleochemicals
• IOI Group
• Kuala Lumpur Kepong Berhad
• Oleon
• Wilmar International

Browse Related Report:

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is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
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value chain, including vendors, service providers, distributors,
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