Glycerol Formal Market Size, Segments, and Growth by 2031

MARKET ANALYSIS

Glycerol formal stabilized is a slightly viscous, clear, colorless liquid with little odor. It is recommended for special pharmaceutical applications, including emulsifiers for parenteral formulations. Glycerol formal is a vegetal product used as an emulsifying excipient, carrier, and solubilizer. It is used in various injectable formulations of veterinary products to control ectoparasites and endoparasites in medium and large animals. It is used in product preparation based on abamectin, moxidectin, ivermectin, etc.

GROWTH DRIVERS AND CHALLENGES

The glycerol formal market is surging owing to its increasing demand from the food and beverage, pharmaceutical and nutraceutical, personal care, and cosmetics industries. The product is widely used in several food products, including processed meat, condensed milk, and bakery. It is also used in personal care and cosmetics as a fragrance ingredient, hair conditioning agent, oral care agent, oral health-care drug, skin protectant, skin conditioning agent, and viscosity-decreasing agent. Glycerol formal is non-toxic and has excellent nutritional value. These properties have increased the consumer preference for glycerol formal. It can be derived from petrochemical feedstock as well as naturally. The demand for this product will likely boost globally in the coming years as it does not harm the environment and is easy to store. These factors will likely positively affect the market's growth for glycerol formal over the forecast period.

REPORT SEGMENTATION AND SCOPE

The "Global Glycerol Formal Market Analysis to 2031" is a specialized and in-depth study focusing on the global glycerol formal market trends and growth opportunities. The report aims to provide an overview of the global glycerol formal market with detailed market segmentation by purity level, end-use industry, and geography. The global glycerol formal market has witnessed high growth over the recent past and is expected to continue this trend during the forecast period. The report provides key statistics on the consumption of glycerol formal worldwide, along with their demand in major regions and countries. In addition, the report provides a qualitative assessment of various factors affecting glycerol formal market performance in major regions and countries. The report also includes a comprehensive analysis of the leading players in the glycerol formal market and their key strategic developments. Several analyses on the market dynamics are also included to help identify the key driving factors, market trends, and lucrative glycerol formal market opportunities that would, in turn, aid in identifying the significant revenue pockets.

Further, ecosystem analysis and Porter's five forces analysis provide a 360-degree view of the global glycerol formal market. This helps understand the entire supply chain and various market growth factors.

SEGMENTAL ANALYSIS

The global glycerol formal market is segmented based on purity level and end-use industry. Based on purity level, the glycerol formal market is segmented as 99% purity and 99.5% purity. Based on the end-use industry, the market is classified as pharmaceutical and nutraceuticals, food and beverage, personal care and cosmetics, and others.

Based on purity level, the 99% purity level of glycerol formal accounted for a significant market share which can be attributed to its popularity across the globe and wide availability. 99% purity level glycerol formal is used as a solvent, sweetener, preservative, anti-freezing agent, and thickening agent in liqueurs and humectants in the food industry. It is also used to prepare pharmaceutical and personal care products, thereby improving smoothness and providing lubrication; based on the end-use industry, pharmaceuticals and nutraceuticals accounted for a significant glycerol formal market share. In the pharmaceutical industry, glycerol is used as a sweetener in syrups and tablets and as an excipient in eyewash solutions. It may also be found in jellies, eardrop products, and creams for topical use, in expectorants for congestion, suppositories, and gel capsules.

REGIONAL ANALYSIS

The report provides a detailed overview of the global glycerol formal market concerning five major regions: North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America. Asia Pacific is estimated to account for a significant glycerol formal market share globally. This is attributed to the growing consumption of convenience foods, changing lifestyle patterns, and the rising number of working women in the region. These factors surged the demand for glycerol formal from various end-use industries such as food and beverage, personal care and cosmetics, etc.

INDUSTRY DEVELOPMENTS AND FUTURE OPPORTUNITIES

Partnerships, acquisitions, and new product launches were the major strategies the players operating in the global glycerol formal market adopted.

In April 2021, Merz Pharma introduced Belotero Revice, which contains hyaluronic acid and glycerol. The product is designed to make skincare products, which protect the skin from dryness, and provide aesthetic solutions.

IMPACT OF COVID/IMPACT OF GEOPOLITICAL SCENARIO/IMPACT OF RECESSION

The covid-19 pandemic led to a decline in the progress of many industries across the globe. The shutdown of manufacturing plants and restricted trade across the globe led to supply chain constraints for manufacturers across the globe. Glycerol formal market experienced a slump during the pandemic owing to the limited production activities in various end-use industries such as food and beverage, pharmaceutical and nutraceutical, personal care, and cosmetics across the globe. However, after vaccination drives and relaxation in restrictions, the production of glycerol formal restarted. Therefore, the glycerol formal market has recovered quite well from the aftermath of the pandemic and is expected to grow over the coming years.

COMPETITIVE LANDSCAPE AND KEY COMPANIES

Some of the key players operating in the glycerol formal market include Fengchen Group Co., Ltd; Glaconchemie GmbH; Haihand Industry Co., Ltd; Lambiotte and Cie; McGean-Rohco Inc.; Parchem fine and specialty chemicals.; Shanghai Haisun Chemtech Co. Ltd.; Stobec Inc; TCI Chemicals; and Wenzhou Opal Chemical Industry Co. Ltd.

Glycerol Formal Report Scope