Glycerol Market Analysis

Glycerol Market Analysis

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Based on type, the industry size from the refined segment recorded over USD 4.1 billion in 2023 and will generate over USD 6.7 billion by 2032 due to its high purity and versatility, making it suitable for a wide range of high-value applications. Refined glycerol, characterized by high glycerin content and low impurity levels, is important in the pharmaceutical, food and personal care industries. In the pharmaceutical industry, it acts as a flavor enhancer, and preservative in a variety of medicines for improving the efficacy and safety of the products.

Glycerol market value from the biodiesel segment is expected to reach over USD 5.5 billion by 2032, owing to the substantial volume of glycerol produced as a byproduct during biodiesel manufacturing. The biodiesel industry is growing rapidly due to increasing global emphasis on renewable energy and reducing carbon footprints. The high glycerol yield from biodiesel production reduces the cost and increases the stability of glycerol delivery for facilitating its use in pharmaceutical, cosmetic, food & beverage (F&B) and other industries.

Asia Pacific glycerol market size surpassed USD 1.9 billion in 2023 and is expected to reach over USD 3.1 billion by 2032, attributed to the expanding biodiesel production, particularly in countries like Indonesia and Malaysia, which are major producers of palm oil. Growing pharmaceutical and personal care industries, driven by increasing health literacy and higher disposable incomes are driving the demand for high-purity glycerol. This is expanding the product demand in pharmaceutical, skin care and hair care items, further stimulating the regional market growth.