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Glycerin Market Analysis

The Global Glycerin Market is projected to register a CAGR of over 6% during the forecast period.

The COVID-19 pandemic impacted the cosmetics industry, one of the major industries of glycerin consumption. As a result of months of lockdowns, international travel bans, and retail business closures; sales, purchases, and usage fell across many beauty segments. However, the demand for glycerin increased for end-user industries like pharmaceutical and personal care during the pandemic, owing to its increased usage in hand sanitizers, soaps, handwash, and detergents.

• In the short term, the strong demand from the pharmaceutical industry coupled with increasing usage in the personal care and cosmetics industries are expected to drive the market studied.
• On the flip side, the availability of substitutes is expected to hinder the market's growth. Some substitutes include diethylene glycol, ceramides, oils, and butter.
• Nevertheless, the antifreeze and de-icing applications as substitutes for propylene and ethylene glycols will likely create lucrative growth opportunities for the global market.
• Asia-Pacific is likely to dominate the market during the forecast period owing to the rapid growth of countries like China, India, and Japan.

Glycerin Industry Segmentation

Glycerin is a polyol compound with a simple structure. It is a colorless, odorless, viscous liquid with a sweet flavor that is also non-toxic. The glycerol backbone is found in glycerides, lipids with a glycerol backbone. The glycerin market is segmented by grade, source, application, and geography. By grade, the market is segmented into crude and refined glycerin, By source, the market is segmented into biodiesels, fatty acids, fatty alcohols, and other sources. By application, the market is segmented into pharmaceuticals, food and beverage, alkyd resins, personal care and cosmetics, industrial chemicals, polyether polyols, tobacco humectants, and other applications. The report also covers the market size and forecast for the glycerin market in 16 countries across major regions. For each segment, the market sizing and forecast have been done based on volume (kiloton).