A Market Transformed by Health, Hygiene, and Industry

Refined glycerine, a high-purity polyol derived mainly from vegetable oils and animal fats, has undergone remarkable demand shifts from 2020 to its projected outlook through 2040. The COVID-19 pandemic was a turning point, with an unprecedented surge in consumption for hand sanitizers, disinfectants, and pharmaceuticals. By 2023, the global refined glycerine market was valued at USD 2.04 billion, and it is expected to reach USD 2.96 billion by 2031, reflecting a steady CAGR of 5.25% between 2024 and 2031.

 

At the center of this transformation, sourcing reliability has become increasingly important. Companies like Tradeasia International, through their strong palm and oleochemical portfolio, play a vital role in ensuring that businesses can access high-quality, sustainably sourced refined glycerine. As the company notes, “palm-based solutions remain the backbone of many industries seeking both performance and sustainability.” This positioning highlights how refined glycerine demand not only meets immediate needs but also aligns with broader sustainability trends in global supply chains.

In terms of sectoral distribution, personal care and cosmetics remain the largest consumer, holding about 40% of market share thanks to glycerine’s moisturizing qualities. Pharmaceuticals represent 25%, integrating glycerine in syrups, drug formulations, and topical medicines. Food and beverages capture 15%, using it as a humectant and sweetener, while industrial applications—including epichlorohydrin (ECH) and polymers—account for 10%, reflecting growing demand in coatings, textiles, and plastics.

Long-Term Outlook and Regional Momentum

The pandemic years (2020–2021) pushed glycerine demand up by more than 30% in sanitizers, while supply was disrupted due to reduced biodiesel production, causing price volatility. Yet this disruption underscored glycerine’s critical role across industries. Looking forward, personal care is projected to expand further, taking about 45% of the market by 2040, driven by consumer demand for natural and sustainable products. Pharmaceuticals are forecasted to grow at a CAGR exceeding 6%, and industrial demand—especially in ECH polymers—is set to increase at 5% annually, fueled by applications in construction and automotive sectors.

By 2040, refined glycerine consumption is expected to reach 1.8 million tons annually, nearly doubling from current levels, with the market value surpassing USD 5 billion. Asia Pacific will continue to be the growth engine, valued at USD 1.5 billion in 2024 and projected to grow at a 7.5% CAGR through 2033, supported by strong pharmaceutical, food, and cosmetic industries. This regional strength, coupled with regulatory pushes for renewable oleochemicals, will ensure that refined glycerine remains a cornerstone in both consumer and industrial markets.

In summary, refined glycerine has transitioned from a pandemic essential to a long-term growth driver across personal care, pharmaceuticals, food, and industrial polymers. Its evolving role underscores not just market resilience but also a deeper shift toward sustainability and health-focused innovation.

 

Sources:

  1. Oleochemicals Asia (oleochemicalsasia.com) — https://www.oleochemicalsasia.com

  2. P&G Chemicals Global Glycerin Market Update — https://www.pgchemicals.com/news/market-insights/global-glycerin-market-update-august-2023

  3. Verified Market Research Refined Glycerine Market Report — https://www.verifiedmarketresearch.com/product/refined-glycerine-market/