Personal care industry drives glycerine market
The GIA report also states there has been increased demand from developing markets, including Asia-Pacific, Latin America, Middle East and Africa which are also likely to drive market growth.
Having seen demand for glycerine plummet during 2008 an 2009, the market is expected to recover by 2011 and sustain growth momentum in the ensuing years.
Production of the chemical is directly affected by the demand for various end-use segments, and lower demand during the recession hampered market prospects. which the report sa was clearly evident across all geographies.
The increase in demand is likely to emanate from various end-use areas, such as oral care and personal care, as well as the chemical’s use in novel applications such as propylene glycol, syngas and epichlorohydrin.
Personal care and pharma fastest growing sectors
The personal care and pharmaceuticals category constitutes the largest, as well as the fastest, growing end-use application of glycerine.
In the personal care category glycerine is used mainly as a means of improving smoothness, providing lubrication and as a humectant, found mainly in soaps, toothpastes, mouthwashes, hair care products and skin care products.
Glycerine soap can be used to prevent skin dryness due to its moisturising properties, as it draws moisture up through skin layers and slows excessive drying and evaporation.
Food and beverages represents the second largest end-use segment for glycerine.
APAC displaying largest market growth
According to the report, Asia-Pacific represents the largest growing regional market for glycerine.
It surpassed Europe as the largest market in 2009, driven by increased glycerine applications in the pharmaceuticals, personal care and food and beverage sectors, as well as lower import duties in certain Asian markets.
The Asia-Pacific glycerin market is portended to register the fastest CAGR of about 3.3 per cent over the 2007-2015 period.