Glycerin Market: Explained with Uses
Glycerin or glycerol (the three-carbon backbone of a triglyceride) is a natural compound extracted from animal fats and vegetable oils. It is categorized as a carbohydrate known as sugar alcohol or polyol. It’s a colorless, odorless syrupy liquid that has a sweet taste. It is a humectant, a moisturizing agent that attracts water in the skin’s outer layer.
Glycerin is extensively used in skin care products, usually used with occlusives, which is another kind of moisturizing agent to trap moisture.
Glycerin’s use has many advantages hydrating the skin’s outer layer and relieving dry skin, improving the barrier function of skin, providing protection against skin irritants, and revving the quickening the wound-healing processes. It can help remedy conditions like chronic angina and chest pain due to heart disease. It can be used to treat psoriasis, cuts, wounds, scars, bedsores, rashes, and blisters.
Glycerin Industrial Applications
Glycerin has extensive use as a sweetener in the food and beverage industries. In addition, it is used in medical and cosmetic formulations as an emollient. Glycerin has water-absorbing properties due to the hydroxyl groups as well as antiviral and antibacterial properties, which makes it an ideal ingredient in pharmaceutical, cosmetic and personal care products as it helps enhance the skin’s smoothness and suppleness while healing skin damage. In the pharmaceutical industry, it is used for allergen immunotherapies, in elixirs, cough syrups, and expectorants, as well as other products like glycerine soaps and water-based lubricants.
Production of Glycerin from Epichlorohydrin Method: During the method, propylene is chlorinated, which along with hypochlorite, is oxidized to dichlorohydrines and powerfully responds in order to produce epichlorohydrin. This epichlorohydrin gets hydrolyzed further, finally yielding glycerol or glycerin.
Glycerin Market Key Players and Competitive Landscape
- Wilmar International
- Emery Oleochemicals
- IOI Group
- KLK Oleo
- Croda International
- Kao Corporation
- Cargill Inc.
- Godrej Industries
Glycerin Price Trend
European Glycerin (Excipient) prices saw a steady market sentiment. All through the last few months of 2022, the prices of feed palm and other edible oils stayed steady in the European market due to low demand from downstream industries. ; the end-user sectors, offtakes, food, pharmaceutical, and cosmetics, also contributed to the price hike of Glycerin. The declining demand and satisfactory existing stock held the market at ease. Also, the market was positively influenced by the low manufacturing cost and steady production rate.
Over the previous months of 2022, Glycerin saw a price incline due to higher prices of feed palm oil and other edible oil as a result of geopolitical conflict and logistic issues. Glycerin prices are steadily distending and lightly drift on the higher side. Despite the firm’s demand from the downstream cosmetics, pharmaceuticals, and food industries, there was a marginal rise in price due to currency fluctuation and the inflated economy, recently. In addition, increased manufacturing prices and inflated raw material market sentiments also had an impact on Glycerin prices in the North American region.
Glycerin prices saw a downward trend in the last months of 2022 because of dwindling demand and persistent geopolitical tensions. In the Asia Pacific region, prices of Glycerin abruptly dropped due to stable demand and existing inventories. The raw material palm oil and other edible oil prices also saw a downtrend in the regional market that impacted the Glycerin prices. Additionally, the end-user demand from the downstream sector, along with lower production rates and manufacturing costs, impacted the Glycerin prices. At the beginning of September, domestic market players began stockpiling inventories for future demand. Higher prices of raw materials led to a minimal rise in Glycerin prices.
Glycerin is an important ingredient added to several end-user products owing to its moisture-locking and healing properties. Due to its benefits, it is used in many cosmetic, pharmaceutical, and personal care products, which makes its procurement vital. As it is difficult to find the right product, supplier, and prices while starting with any product sourcing, it is important to have an industry expert by your side. That’s when the team of experts at Procurement Resource helps you with all your business and procurement-related queries, where leading industry experts help you with your various business needs.