The global glycerol market to grow at a CAGR of 8.73% during the period 2017-2021.
The report, Global Glycerol Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
One trend in market is growth of personal care industry. Glycerol is extensively used as a thickening agent, emulsifier, lubricant, and humectant in cosmetic and personal care applications. Consumers in developed as well as developing countries such as the US, the UK, Australia, Canada, France, China, India, Saudi Arabia, and Germany spend heavily on cosmetics. So, the consumption of cosmetic products is high in these countries, which is attributed to the high disposable income.
According to the report, one driver in market is growing production of biodiesel. Globally, there is a growing interest in alternate fuels on account of the uncertainty in global fuel prices, energy security, and the continuous rise in emission levels. There is a demand for fuels that reduce the carbon emission levels and have commercial possibilities. The gradual depletion of fossil fuel reserves has given rise to renewable biofuels.
The R&D efforts worldwide have led to the use of biofuels, which are gradually moving to large-scale commercialization because their performance is similar to gasoline and diesel. Biofuel blends are now being used in regular vehicles with little or no modification to the engines, which is encouraging the use of blended fuels in vehicles. Biofuels produce lesser greenhouse gas emissions in comparison to conventional fuels depending on the blend. Biofuels also reduce the amount of sulfur and hydrocarbon emissions in the air.