What Is The Definition Of The Global Glycerol Derivatives Market?
Glycerol derivatives refer to a variety of chemical compounds that are derived from glycerol, also known as glycerin or propane-1,2,3-triol. It is a simple polyol compound with three hydroxyl (OH) groups, and through chemical or enzymatic processes, it can undergo various reactions to yield different derivatives.
Glycerol Derivatives Global Market Report 2024 provides data on the global glycerol derivatives market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The Glycerol Derivatives market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Is The Market Size And Growth Rate Of The Global Glycerol Derivatives Market Projected?
The glycerol derivatives market size has grown strongly in recent years. It will grow from $15.04 billion in 2023 to $16.11 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to increased production of glycerol, increased focus on sustainability and reducing carbon footprint, increased demand from pharmaceuticals and cosmetics, and growth for the utilization of glycerol. The glycerol derivatives market size is expected to see strong growth in the next few years. It will grow to $21.37 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to increasing focus on sustainability and renewable resources, growing industrialization, increasing production of biodiesel, growing demand for environmentally friendly chemicals, and increasing inventories. Major trends in the forecast period include advanced materials, healthcare innovations, advancements in green chemistry techniques, modular and scalable production systems, and collaboration and partnerships.
What Are The Primary Growth Drivers In The Glycerol Derivatives Market?
The growing food and beverage industry is expected to fuel the expansion of the glycerol derivatives market. This industry encompasses the production, processing, distribution, and sale of food and drink products and is expanding due to factors like urbanization, economic growth, rising incomes, health and wellness trends, globalization, and social media influence. Glycerol derivatives play a crucial role in this sector by improving product quality, stability, and consumer appeal. For instance, Atradius NV reported in January 2022 that the UK's food and beverage output increased by over 4.1% in 2021, recovering from a 5.3% contraction in 2020. Thus, the growth of the food and beverage industry is driving the expansion of the glycerol derivatives market.
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What Is The Segmentation Of The Global Glycerol Derivatives Market?
The glycerol derivatives market covered in this report is segmented –
1) By Product: 4-(Hydroxymethyl)-1 3-Dioxolan-2-One, Polyglycerol, Propane-1 2 3-Triyl Triacetate, 1 3 Propanediol, Propylene Glycol, Other Products
2) By Grade: Bio-Based, Petroleum-Based
3) By End-Use: Food And Beverage, Pharmaceuticals, Cosmetics And Personal Care, Construction, Other End-Users
What Emerging Trends Are Shaping The Glycerol Derivatives Market Landscape?
Leading companies in the glycerol derivatives market are developing innovative products like wax-based pearlizers to improve their functionality and appeal. Wax-based pearlizers use glycerol derivatives, such as glycerol oleate, to create opacifying and pearlescent effects in personal care products. For example, in December 2022, BASF SE, a Germany-based chemical company, launched Euperlan NL Pearl, a COSMOS-compliant wax-based pearlizer for rinse-off applications. It is biodegradable and suitable for surfactant-free solutions, made from natural ingredients like hydrogenated vegetable oil, cocamidopropyl betaine, and glyceryl oleate. This product excels in hair care applications, providing excellent performance in wet and dry combing tests, anti-hair breakage measurements, and skin conditioning.
Which Region Has The Fastest Expansion In The Glycerol Derivatives Market?
Asia-Pacific was the largest region in the glycerol derivatives market in 2023. The regions covered in the glycerol derivatives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
