Mexico Glycerine Market Analysis

Mexico Glycerine Market Overview

Mexico glycerine market is expected to grow CAGR 5.10% during the forecast period. Mexico Glycerine Market has outranged its productivity and has shown the highest demand in East Mexico. This has happened due to the population rise in the region as the increasing population has increased the demand for cosmetics and skincare products and thus, opening a bigger market for the cosmetic and skincare industry. After East Mexico, West Mexico is the region with the highest glycerin consumers. The decrease in the price of glycerin can be seen from the year 2018 due to a decrease in demand in a huge country like China. Also, the Glycerin price decreased in Europe by 20% at the start of this year. Moreover, Glycerin is formed by animal fats and people around the world has issues using it as many people have adopted the idea of vegan over the period and also, Believers of certain religions prohibit the use of glycerin due to its formulation and the process involved in the manufacturing of the glycerin. But speaking of Mexico Glycerine market, North Mexico holds the highest share of the glycerin market.

Competitive Landscape:

The glycerin Market is incorporated with top players who hold the majority of shares of the Glycerin Market. The Mexico Glycerine Market trends rely on top players as the distribution is larger on their part. The top companies that hold the Glycerin Market are:

• Emery Oleochemicals


• IOI Corporation Berhad


• KLK OLEO


• Musim Mas


• Wilmar International Ltd

Glycerin is being used to manufacture many industrial products and is sold in pure form at a feasible price. Mexico Glycerine Market might be growing and is projected to increase in 2023 but there is no increase in the rice of the Glycerin as such. The top companies are finding new scopes and doing research to develop the Glycerin Market. As per the data and report, the demand and supply of glycerin observe high in Mexico.

COVID-19 Analysis:

The pandemic has hit the different markets in different ways. Some have shown a major downfall while some are moderately affected by the outbreak of the virus. Some companies in the market have been profited much more due to COVID-19. During the lockdown, consumers are forced to sit inside, and hence, a downfall is noticed in the sale of glycerin in the market. People are not going outside unnecessarily and are avoiding unnecessary purchase that also includes using glycerin for skin care and personal use. On the brighter side, the pandemic has also given a boost to Mexico Glycerine Market as glycerin has major applications in the pharmaceutical field such as in soaps, sanitizer, etc.

Market Dynamics:

Drivers: Various factors and reasons work as drivers that derive the value of the product in the Mexico Glycerine Market. Asia-Pacific region has outgrown to be the largest region to use glycerin and glycerin-based products. Mexico Glycerine Market trends have been affected due to the following reasons in the recent years and will be derived over upcoming years:

• 
  Usages of Glycerin as a Personal Care Product: Certain chemical properties of glycerin make it a good lubricant. It nourishes skin by helping it retain moisture. Hence, helps the skin to stay hydrated and fresh. Due to these properties, a lot of consumers are attracted to buy glycerin as a daily product for skincare routine.


• 
  Usage of Glycerin in the Pharmaceutical Field: Glycerin holds certain cleansing properties that make it a necessary element or ingredient of hygiene products such as soap, hand sanitizer, toothpaste, shaving creams, etc. The virus outbreak has then contributed to the sale of these products and thus derived the face of these industries producing glycerin and other sanitary products.


• 
  Use of Glycerin in cosmetic Products: The emerging demand for glycerin due to its many uses and especially in the range of cosmetics had derived from the increase in demand for Glycerin.


• 
  Increase in Population: The increase in population has increased the demand for glycerin and thus has derived the manufacturing and sale of the product.

Opportunities: The population growth has opened a wide range of opportunities for the Mexico Glycerine Market as the increase in population has increased the demand for the product.

• 
  In Healthcare: As glycerin plays a role of a key element in many health care products such as sanitizer, few skin lubricants, etc. People are coming to know the use of glycerin in hygiene due to virus outbreaks and this can be taken as an opportunity to develop more glycerin-based products during this period.


• 
  Collaboration and Manufacturing Industries: Many opportunities are observed for new emerging cosmetic or personal care and food manufacturing companies. These companies can collaborate to form new useful formulations.

Restraints:

• 
  Production and Consumption Gap: The amount of glycerin and glycerin-based products produced every day is higher than its consumption on that day which creates a gap between production and consumption which leads to slower growth of the industry.


• 
  Price Fluctuation of Biodiesel: Fluctuation of the price of Biodiesel also affects the price of glycerin. As glycerin is the by-product formed during the manufacturing process of biodiesel, no consistent pattern of price is formed for glycerin.

Challenges:

• 
  Expansion of Market: Around all glycerin-based products are formed and it will take longer for research and for new glycerin-based products to step into the Mexico Glycerine Market. The uses of Glycerin are limited and are not performed at a bigger level which creates the biggest challenge and that is market expansion.


• 
  Limited Product Service: Glycerin has few applications for a market product. It is more valuable when added as an element to a product. Though, glycerin is a useful product alone.

Value Chain Analysis:

Glycerin is a by-product formed during the biodiesel manufacturing process. It is also extracted from animal fat and another form is made of plants. It is a carbon source that is extracted from animals and plants using technology and scientific processes. The extracted glycerin is then used in the Pharmaceutical field, Cosmetics, food, and beverages, personal care products, etc. With the expansion of the biodiesel industry, a lot of crude glycol or glycerin is formed. The crude glycerin is then filtered and purified finely to form Technical Grade Glycerin. This form of glycerin is highly filtered and purified.

Segment Overview:

By Grade- The Mexico Glycerine Market is segmented into two parts by grade. The first is Crude Glycerin that is produced during the manufacturing of Bio-diesel which is then purified and filtered to produce refined glycerin. The refined and processed glycerin is then considered as the second segment by grade.

By Source- Glycerin is divided into two segments that are natural and synthetic. The natural source includes bio-diesel, and the synthetic source includes fatty acids produced from animal fat, fatty alcohols produced from plants. Few other sources are also included in the list.

By Application- There are several applications of glycerin in different fields. The product finds its usages in the Pharmaceutical field, Food, and Beverages, personal care and cosmetics, Industrial chemicals, Alkyd Resins, and many other applications.

By Geography- By geography, the Mexico Glycerine Market is segmented into different regions which are Asia-Pacific, North America, South America, Middle and East Europe, and Some parts of Africa.

Regional Analysis:

The Market finds its highest number of consumers in the Asia-Pacific region which consists of five major countries, namely- India, China, Japan, Australia, South Korea, and the rest of other countries in the region. The Mexican Market is divided into four parts, namely- East Mexico, West Mexico, northern Mexico, and South Mexico. East Mexico has registered the highest number of consumers while North Mexico holds the highest share among the four.

Recent Developments (Global):

• In 2018, Unilever Indonesia invested USD 500 in its two main branches- Home and Personal care and Food & Refreshment Glycerin and glycerin-based products hold a significant share in these products.


• In recent years this market has seen a boom due to the increasing demand of this product in the food industry and related applications. 
  

Report Overview:

Globally the glycerin Market has shown tremendous growth but Mexico being a smaller country by area has shown a moderate rate of growth. Glycerin is a by-product formed during the manufacturing of bio-diesel and other than this there are many other sources of Glycerin. The Mexico Glycerine Market Report covers the detailed analysis of the glycerin market. The product finds its application in many industries and fields.