SWOT Analysis
Strengths: Glycerol is widely available at low prices due to surplus production from biodiesel plants. It has wide industrial applications in personal care, food and beverages, and pharmaceutical sectors.
Weaknesses: Glycerol production is dependent on the supply of raw materials for biodiesel production. Fluctuations in crude oil prices affect the demand-supply dynamics of the glycerol market.
Opportunities: Increasing use of refined glycerol in niche applications like tobacco additives, food preservatives offers new opportunities. Growing research in using glycerol as a feedstock for bioplastics and biofuels also presents opportunities.
Threats: Price fluctuations of raw materials can impact biodiesel and glycerol prices. Strong competition from substitute products poses a threat.
Key Takeaways
The Global Glycerol Market Size was valued at US$ 3.15 billion in 2023. It is expected to witness high growth, exhibiting a CAGR of 8.4% over the forecast period of 2023 to 2030.
The increasing production of biodiesel across the globe due to mandate policies for blending targets is a key driver for the glycerol market. For instance, the biodiesel production in Europe and the U.S. has increased significantly in the last few years.
On a regional basis, Asia Pacific dominates the global glycerol market and is expected to maintain its leading position over the forecast period. This can be attributed to the large production of palm oil-based biodiesel in countries like Malaysia and Indonesia resulting in high crude glycerin supply.
Key players operating in the glycerol market are Proctor & Gamble Chemicals, Dial Corporation, Croda, Dow Chemicals, Godrej Industries Ltd., Emery Oleochemicals, IOI Group, Kuala Lumpur Kepong Berhad, Wilmar International, and Sofiprotéol Group.
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