The market is expected to value 277.21 kilo metric ton in 2017 and projected to reach 343.15 kilo metric ton by 2022, registering a CAGR of 4.36%, during 2017-2022 (the forecast period).
Glycerin is an organic compound composed of carbon, hydrogen, and oxygen. It is a clear, sweet-tasting, colorless thick liquid, which freezes to a gummy paste and has a high boiling point. Glycerin can be dissolved into water or alcohol, but not in oils. Glycerin can dissolve solutes easier than water, or alcohol, therefore, it is considered as a good solvent. It is used as a raw material for the manufacture of different types of chemical intermediates, including plasticizers, surfactants, and solvents. Glycerin is used in various industries such as pharmaceuticals, personal care, food & beverages, tobacco, alkyd resins & polyether polyols, whereas compounds of glycerol are used to preserve lotions, inks, fruits, and lubricants.
Middle-East & North Africa glycerin market is driven by the increasing demand from pharmaceuticals industry, alkyd resin production, and high use in personal care and cosmetics industry. However, the market is restricted by factors such as lack of synchronization between the supply and demand, and the availability of substitutes.
Middle-East & North Africa glycerin market is segmented on the basis of application, grade, and source. Based on application, the market is segmented into pharmaceuticals, food & beverages, alkyd resins, personal care & cosmetics, industrial chemicals, polyether polyols, and others. Personal care & cosmetics sub-segment accounts for the largest segment with market share of 29%, followed by pharmaceuticals. Based on grade, the market is segmented into crude glycerin, and refined glycerin. The market, based on source, is segmented into natural (biodiesel), and synthetic.
In the Middle-East & North Africa glycerin market report, we have considered countries such as Saudi Arabia, UAE, Turkey, Algeria, Egypt, Morocco, Tunisia, Iran, Oman and, rest of the Middle East & North Africa. Turkey is expected to lead the market during 2017-2022 (the forecast period), owing to its increasing usage in personal care, and food & beverage industry.
Opportunities and Major Players
Increasing use of anti-freeze and de-icing applications as a substitute to propylene and ethylene glycols in electronics cooling, along with continuous R&D are expected to boost new opportunities in the market.
