Revenue from the global Glycerin Market is projected to reach US$ 24.64 billion in 2024, as revealed in a newly published study by Fact.MR, a market research and competitive intelligence provider. The market has been forecasted to expand at a CAGR of 6.9% from 2024 to 2034.

Glycerin's moisturising qualities for preventing or treating rough, dry, scaly, and minor skin irritations are the reason for its increased demand in the medical, cosmetics, and healthcare sectors. Glycerin's rising use in pharmaceuticals is a result of its antiviral and antibacterial qualities. Nevertheless, the high expense of the glycerin refining process raises the price of the final product, which somewhat restricts its use.
East Asia's dominance in the global market can be attributed to the region's thriving food and beverage sector, which is driving demand for glycerin as a sugar substitute. Furthermore, the region's growing pharmaceutical sector is expanding the range of applications for glycerin because of its advantages in enhancing the flavour and smoothness of medications.
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Key Takeaway from Market Study:

·       Worldwide sales of glycerin are analyzed to reach US$ 48.03 billion by the end of 2034.

·       Global demand for technical-grade glycerin is projected to increase at a CAGR of 6.4% and reach a market value of US$ 24.98 billion by the end of 2034.

·       Sales of glycerin in Canada are projected to rise at a CAGR of 7.8% from 2024 to 2034.

·       East Asia is expected to account for 38.4% share of the global market by 2034.

·       Demand for glycerin in South Korea is approximated to increase at 7.8% CAGR through 2034.

·       North America is forecasted to occupy 29.1% share of global market revenue by 2034-end.

“Investing in the production of pure glycerin, which is undiluted and does not cause any blistering, will be key for companies going forward in this marketplace,” says a Fact.MR analyst.

Leading Players Driving Innovation in the Glycerin Market:

BASF SE, Wilmar International Ltd., LG Household & Healthcare Ltd., DowDupont, SEPPIC S.A., Croda International Plc, Galaxy Surfactants, Huntsman Corporation, Pilot Chemical Company, Shanghai Fine Chemical Co., Ltd., Emergy Oleochemicals, Cargill, Incorporated, Kao Corporation, IOI Corporation Berhad, and Godrej Industries are some of the leading manufacturers of glycerin in the market.

High Demand for Glycerin in Japan for its Taste Improving and Smoothness Attributes in Pharmaceuticals:

By the end of 2034, glycerin sales in Japan are expected to reach US$ 5.08 billion, growing at a compound annual growth rate (CAGR) of 7.8%. The nation has one of the largest pharmaceutical markets in East Asia, which is another factor driving up the use of glycerin as a main ingredient. Additionally, its growing use as a sweetener in syrups and lozenges and as an excipient in eyewash solutions is opening up profitable opportunities for industry participants. Furthermore, glycerin's capacity to enhance the flavour and smoothness of medications is the reason for its increasing usage in pharmaceutical products.
Glycerin Industry News:

·       In December 2022, Oleochemical purchased a blending facility located in Conroe, Texas. This will support the company's efforts to fortify its olechemicals division, which includes glycerin production.

Other Source: https://www.globenewswire.com/news-release/2024/08/29/2937622/0/en/Glycerin-Market-is-Set-to-Surge-at-6-9-CAGR-Reach-US-48-03-Million-by-2034-Fact-MR-Report.html#:~:text=English-,Glycerin%20Market%20is%20Set%20to%20Surge%20at%206.9%25%20CAGR%2C%20Reach,by%202034%20%7C%20Fact.MR%20Report