San Francisco, California, Nov. 4, 2014 (GLOBE NEWSWIRE) -- The global market for glycerol is expected to reach USD 2.52 billion by 2020, according to a new study by Grand View Research, Inc. Biodiesel emerged as the leading source of glycerol, accounting for over 1,400 kilo tons of glycerol production in 2013. Growing application market coupled with increased production of oleochemicals in Asia Pacific is expected to augment glycerol demand over the forecast period.
Personal care and pharmaceuticals were the largest application segment, with glycerol consumption exceeding 870 kilo tons in 2013. However, food & beverage is expected to be the fastest growing application segment at an estimated CAGR of 8.4% from 2014 to 2020, owing to improving lifestyle in emerging economies leading to increased consumption of processed and packed foods.
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Further key findings from the study suggest:
- Global glycerol demand was 2,247.2 kilo tons in 2013 and is expected to reach 3,469.2 kilo tons by 2020, growing at a CAGR of 6.4% from 2014 to 2020.
- Biodiesel was the largest source for production of glycerol accounting for 62.96% of the market in 2013. However, fatty alcohols are expected to be the fastest growing source for glycerol production at an estimated CAGR of 8.3% from 2014 to 2020.
- Alkyd resins and foods & beverages followed personal care & pharmaceuticals accounting for a market volume of 12.94% and 12.22% respectively.
- Asia Pacific was the leading regional market and accounted for 37% of market volume in 2013. It is also expected to be the fastest growing market for glycerol at an estimated CAGR of 7.8% from 2014 to 2020.
- The global glycerol market is highly concentrated with the top four companies including IOI Group, KL Kepong, Emery Oleochemicals and Wilmar International accounting for over 65% of market revenue in 2013. Other companies operating in the market include P&G, Kao Corporation, Cremer Gruppe and Oleon.
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For the purpose of this study, Grand View Research has segmented the glycerol market on the basis of source, application and downstream opportunities:
Global Glycerol Market Source Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
• Fatty acids
• Fatty alcohols
• Soap industry
Global Glycerol Market Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
• Personal care & pharmaceuticals
• Alkyd Resins
• Foods & beverages
• Polyether polyols
• Tobacco humectants
Global Glycerol Downstream Opportunities Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
• Propylene Glycol
• 1,3 Propanediol
Glycerol Market Regional Outlook (Volume, Kilo tons; Revenue, USD Million, 2012 - 2020)
• North America
• Asia Pacific
Browse Press Release of Glycerol Market: http://www.grandviewresearch.com/press-release/global-glycerol-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. For more information, visit http://www.grandviewresearch.com/
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Source:Grand View Research