South Korea Technical Grade Glycerin Market was valued at USD 0.4 Billion in 2022 and is projected to reach USD 0.7 Billion by 2030, growing at a CAGR of 6.6% from 2024 to 2030.
The South Korea Technical Grade Glycerin Market is experiencing a significant surge in demand, driven by a variety of industries that rely on this versatile substance for a range of applications. As industries seek to enhance their production processes and meet evolving consumer needs, the importance of high-quality glycerin has never been more critical. In particular, the chemical, pharmaceutical, and cosmetics sectors have contributed greatly to the market's expansion.
Technical grade glycerin, a byproduct of biodiesel production, serves as an essential ingredient in many industries due to its high purity and multi-functional properties. It is widely used as a humectant, solvent, and stabilizer in products ranging from skin care creams to medicines. The pharmaceutical industry, for example, uses it in the formulation of syrups, ointments, and tablets. Glycerin's ability to retain moisture and improve the texture of products makes it highly sought after in personal care formulations.
In addition to the pharmaceutical and cosmetics sectors, the food and beverage industry also demands substantial quantities of technical grade glycerin. It is employed as a sweetener, thickener, and preservative in processed foods, soft drinks, and confections. The demand for glycerin in these products is on the rise as manufacturers seek natural alternatives to artificial additives.
Furthermore, the increasing focus on sustainable and eco-friendly production methods has heightened the demand for glycerin derived from renewable sources. South Korea, with its advanced manufacturing infrastructure, is well-positioned to capitalize on this trend, making technical grade glycerin a valuable commodity. As regulations surrounding environmental sustainability become stricter, industries are turning to glycerin not only for its functionality but also for its eco-friendly profile.
The requirements for technical grade glycerin are becoming more stringent, with industries demanding higher purity and specific quality standards. South Korea's glycerin market must adapt to these demands by ensuring a consistent and reliable supply of high-quality products that meet the evolving needs of its diverse industrial clientele.
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Emery Oleochemicals
Cargill
Vantage Oleochemicals
VVF
PMC Biogenix
Twin Rivers Technologies
CREMER OLEO GmbH＆Co. KG
SABIC
KLK OLEO
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Technical Grade Glycerin Market
Pharmaceuticals
Cosmetics & Personal Care
Food & Beverages
Industrial Applications
Others
Pharmaceutical Grade
Cosmetic Grade
Food Grade
Industrial Grade
Vegetable-based Glycerin
Animal-based Glycerin
Above 99%
Between 95% to 99%
Below 95%
Pharmaceutical Industry
Cosmetic & Personal Care Industry
Food & Beverage Industry
Chemical Industry
Automotive Industry
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Technical Grade Glycerin Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Technical Grade Glycerin Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Technical Grade Glycerin Market, By Type
6. South Korea Technical Grade Glycerin Market, By Application
7. South Korea Technical Grade Glycerin Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Technical Grade Glycerin Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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