High Demand For Biodiesel Around The Globe Is Accelerating The Growth Of The Glycerin Market

Glycerin Market


 Glycerin is basically simple sugar alcohol. It's a clear colorless, tasteless, non-irritating liquid that is sweet-tasting and non-volatile. The glycerin backbone is typically found in the fatty tissues, which are referred to as triglycerides. Because of its antimicrobial and antioxidant properties, it's widely being used in FDA-approved burn and wound therapies because of its ability to heal and relieve burns quickly. It is also used to produce soap which is made from fats and oils obtained from plants and animals. The process of making this soap is by boiling the fats and oils together with water and then adding certain flavorings such as oils and herbs. The resulting product is glycerin soap.  Glycerin has become very popular in the soap industry because of its benefits and uses.

High demand for the product from the food, pharmaceutical, and nutraceutical industries is fueling the growth of the glycerin market. Increasing consumption of condensed milk, processed meat, and bakery products is also propelling the growth of the glycerin market. According to TheWorldCounts, by 2050, global meat consumption is projected to reach between 460 million and a staggering 570 million tons. Moreover, the growing demand for biodiesel around the globe as it is obtained as a byproduct during the biodiesel manufacturing process is again anticipated to foster the growth of the glycerin market. According to the Food and Agriculture Organization, global biodiesel production is expected to reach 41.4 Bln L by 2025 corresponding to a 33% increase from the 2015 level.

The Asia Pacific is projected to gain significant growth over the forecast period and this is attributed to the expanding end-user industries such as nutraceutical, pharmaceutical, personal care, and cosmetics in the region. The growth mainly depends on the factor such as increasing population and growing disposable income of consumers across emerging countries such as India and China. According to the United Nations, The current population of Asia is 4,667,191,609 as of February 28, 2021. Asia's population is equivalent to 59.76% of the total world population.

Key Developments:

1.      In January 2019, Aemetis, Inc. announced that its Universal Biofuels subsidiary has completed a two-year upgrade of the Kakinada, India biodiesel and glycerin plant

2.      In March 2020, bio-based chemical company Advanced Biochemical (Thailand) Co., Ltd (ABT) has announced a capacity increase at its plant in Map Ta Phut by 20 000 tonnes per annum (tpa). The plant will now produce 120 000 tpa of bio-based epichlorohydrin (ECH) – a chemical used in the manufacture of epoxy resins.

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