Glycerin Market Scenario:
Glycerin is mainly a carbon-based compound that finds applications in products offered by various industries owing to attributes such as viscous liquid, sweet taste, colorless and odorless. Glycerin finds application in various body care products such as soaps, toothpastes, shaving creams and other. Application of glycerin in these products enhances product quality and makes product component smooth and thin. Edible glycerin, synthetic glycerin, natural glycerin and animal glycerin are a few types of glycerin to mention.
Applications And Benefits
Mainly, application of glycerin offers a range of benefits to products and customers on consumption. Application of glycerin in various food products add sweet flavor to food product to it. Furthermore, glycerin finds application in various beverages owing to its sweet flavor, which enhances taste of beverages. Owing to its attribute such as thickener, solvent and humectant, glycerin finds application in various sauces and products that needs to be thickened or dissolved accordingly.
Moreover, glycerin finds application in various drug products as a levigating agent as it decrease particle size of drugs, which are composed of glycerin. It is added in various cough syrups to provide relief to patients who are victims of cough and cold. In volume terms, global consumption of glycerin is expected to stand at 3,859 KT by the end of 2016. The global glycerin market is expected to register a volume CAGR of 4.0% over the forecast period (2016–2024).
Glycerin provides another range of benefits owing to its application in products related to body care, as it enhances skin quality, skin tone and gives it a healthy look and feel. Furthermore, glycerin is used to freeze various vegetable and fruit products in order to preserve for future application and consumption.
Glycerin finds application in various automobiles and other system related products that need servicing. For instance, glycerin is increasingly used in cars that are stuck owing to heated engines. Application of engine-coolant glycerin can help customer to cool engine and help it start again.
Owing to these beneficial application in various products, the market of glycerin is expected to witness a boost in sales and market growth. Moreover, natural glycerin provides a range of benefits in terms of consumption and production. Products such as cheese, milk, cream, yogurt, whey powder and clotted cream are potential source of glycerin and increasingly find application in production and manufacture of various products. However, various fruits and vegetables such as precooked vegetables, canned vegetables and processed fruits are not potential source of glycerin.
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Disadvantages When Disregarded
Disregarding glycerin for application of natural products could result in sticky hair, while, application of glycerin makes product smooth and thin. Owing to attributes of sugar alcohol, glycerin when consumed helps various customers in losing weight. List of benefits owing to attributes and applications of glycerin have witnessed no limit due to which, glycerin is significantly dominating the market.
Some disadvantages of pure glycerin owing to heavy water loss could lead to dry skin type as it takes away all moisture of skin. Glycerin is heavy in humectant, due to which moisture is pulled into the hair of body and retains the moisture of body, however, if used in improper proportion, it could affect customer’s body adversely.
Another significant factor that could lead to a downfall for products that disregard glycerin is owing to its attributes of enhancing product quality. When added to various product, it smoothens and makes component of product thinner relatively, owing to which, customers prefer using such product with relatively better quality. If disregarded in product, their sales could witness a sharp downfall. Therefore, glycerin is an imperative component dominating the market globally. Majority of production and manufacture procedure in various aspects are incomplete without glycerin.
Leading market players
Croda International Plc, Kuala Lumpur Kepong Berhad, Archer Daniels Midland Company, Procter & Gamble Chemicals, Kao Corporation, The Dow Chemical Company, Godrej Industries Ltd., Emery Oleochemicals, and Sakamoto Yakuhin kogyo Co. Ltd. are the leading companies currently dominating the global glycerin market.