Glycerin Market is expected to reach 6,261.75 thousand metric tons by 2024 from 3,551.00 thousand metric tons in 2016, at a CAGR of 7.80%. The new market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
The major factors driving the growth of this market are bio-renewable chemicals, growth in biodiesel production and wide range of application in various industrial sectors. On the other hand, availability of substitutes and low profitability may hinder the growth of the market.
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Market Segmentation: Global Glycerin Market
The Global glycerin market is segmented on the basis of grade, source, application and downstream. On the basis of grade, the glycerin market is segmented into ; refined glycerin, crude glycerin, natural glycerin and blonde glycerin. In 2017, crude glycerin segment is expected to dominate the Global glycerin market with 49.1% market share and is expected to reach 2,783.10 thousand metric tons by 2024, growing with the highest CAGR of 6.0% in the forecast period 2017 to 2024.
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Key Drivers: Global Glycerin Market
The major factors driving the growth of this market are bio-renewable chemicals, growth in biodiesel production and wide range of application in various industrial sectors.Availability of substitutes and low profitability may hinder the growth of the market.
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