Glycerine is a colorless, odorless, and sweet viscous liquid. The chemical structure of glycerine is completely different from that of carbohydrates and therefore does not belong to the same class of substances. It has a wide range of applications and can be used for gas chromatography stationary liquids and organic synthesis. It can also be used as a solvent, gas meter and hydraulic shock absorber, softener, nutrient for antibiotic fermentation, desiccant, etc.
Overview of Market Development
According to our research data, the global glycerine market revenue reached $2640 million in 2023, an increase of 3.64% compared to 2022. In the coming years, with the continuous development of global industries such as chemical, pharmaceutical, and cosmetics, the demand for glycerine will continue to rise. It is expected that the global glycerine market revenue will continue to increase to $3310 million by 2028.
Competitive Landscape Analysis
From the perspective of market competition, the concentration of the global glycerine market is moderate. Data shows that in 2023, the top three companies in the industry achieved a total revenue of $846 million in the glycerine market, with a total revenue share of 32.06%. The top three companies were Wilmar International, IOI Oleochemicals, and KLK OLEO. In 2023, these three companies accounted for 14.55%, 9.83%, and 7.68% of the global market revenue in the glycerine market, respectively.
Global Glycerine Market Revenue Forecast and Competitive Landscape
Source: www.globalmarketmonitor.com
Segmented Market Analysis
From the perspective of product types, according to different industrial production methods, glycerine can be divided into two categories: natural glycerine and synthetic glycerine. Natural glycerine is made from natural oils and fats, while synthetic glycerine is usually synthesized from propylene. Among the two product types, natural glycerine dominates the market. According to our data, the global natural glycerine segment market revenue in 2023 was $2533 million, with a market share of 95.95%.
From the perspective of downstream application patterns, the application of glycerine involves multiple fields such as cosmetics and personal care, food, tobacco, chemicals, and pharmaceuticals. Among them, the cosmetics and personal care field is the largest downstream application market, with a market share of 34.79% in 2023; Followed by the chemical industry, with an application share of 27.96% in 2023.
Global Glycerine Market Revenue and Share by Type and Application in 2023
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Market Revenue (Million USD)
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Market Share
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Segmented by Type
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Natural Glycerin
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2533
|
95.95%
|
|
Synthetic Glycerin
|
107
|
4.05%
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Segmented by Application
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Cosmetics and Personal Care
|
918
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34.79%
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|
Food
|
312
|
11.80%
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|
Tobacco
|
87
|
3.30%
|
|
Chemicals
|
738
|
27.96%
|
|
Pharmaceuticals
|
313
|
11.85%
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|
Others
|
272
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10.30%
|
Source: www.globalmarketmonitor.com
For more industry information, please refer to our latest released "2023 Global Glycerine Market Analysis Report, Key Competitors, Market Effect Factors, Growth, And Forecast".
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