Market Size of Glycerin Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 6.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
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.
