Glycerol Market Size

Glycerol Market Size

Glycerol Market was valued at over USD 4.9 billion in 2023 and is expected to record over 4.5% CAGR between 2024 and 2032. On account of its properties of a moisturizing, emollient, and lubricating agent, glycerol has emerged as an important ingredient in skin care, hair care, and oral cleansers. Increased consumer demand for organic natural personal care products is boosting the use of glycerol derived from plant and animal fats. The growing pharmaceutical industry is further employing the product in the manufacture of cough medicines and elixirs.

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Furthermore, glycerol is employed as a flavoring agent, moisturizer and preservative in baked goods, confectionaries, and beverages. Developments in refining technology have led to the growth of new applications in bio-based polymers and anti-freeze agents. The biodiesel sector is also contributing significantly to the market expansion, as it is a by-product of biodiesel production.

However, the volatility of raw material prices and the supply-demand imbalance may deter the product uptake. The sale of glycerol as a by-product of biodiesel production is largely affected by fluctuations in the biodiesel sector, resulting in erratic supply and price volatility. Purification of crude glycerol is complex and expensive, which may further hinder SME from entering the market. The availability of other chemicals that can perform similar functions, such as solvents in the personal care industry will also impose some competitive threat.