Glycerine (sometimes called ‘‘glycerin’’) is the name of the commercial product consisting of glycerol and a small amount of water. Glycerol is actually trihydric alcohol C2H5 (OH) 3, which is more accurately named 1, 2, 3-propanetriol. Much of the naturally produced (as opposed to synthetic) glycerin is a coproduce of saponification of fats using caustic soda.
Glycerine is a trihydric alcohol and, like other alcohols, forms esters, ethers. Amines, aldehydes, and compounds analogous to metallic alcoholates. But, because of its multiple hydroxyl groups, it can be reacted to form an unusually large number of derivatives. One, two or three of these hydroxyls can be replaced with other chemical groups, thus permitting the synthesis of many different derivatives with properties designed for specific applications.
Global glycerin market witnessed a decline in demand in recent years, shadowing the slump in macro economy. The crude glycerin market was largely depressed in comparison to refined glycerin, due to the inability to transform crude glycerin into refined products. Nonetheless, the market has bottomed out of the recession and is displaying early signs of recovery. Operations as well as demand in the overall market for oleo chemicals, including glycerin, improved considerably in 2010. However, increasing prices for feedstock is expected to hinder the market in the near term. Setting up of new plants for conversion of glycerin into polyol including ethylene glycol and propylene glycol is forecast to open a wide range of downstream markets for glycerin.
The worldwide glycerin market is known for its unpredictable and complex nature as it is produced as a co-product of canola methyl ester production and is marketed in refined or crude form. Production of glycerin is directly affected by demand in several end use segments including pharmaceuticals, food and personal care. Demand drivers for glycerin market include a wide range of existing applications, economical new end-uses, loyal end users who are unwilling to use substitutes, and eco-friendly nature of products. Further, as glycerin turns less expensive than other humectants, it stands to be the preferred choice among oleo chemicals.
Increased applications of glycerin in various sectors such as pharmaceuticals, personal care and food & beverages, coupled with lower import duties in the Chinese market is expected to boost demand for glycerin in the Asia-Pacific region. Latin America is projected to register the fastest compounded annual growth rate of 6.75% over the analysis period. This facilitates the development of new technologies and ensures a high quality product.
Few Indian major players are as under
Godrej Consumer Products Ltd.
Godrej Industries Ltd.
Golden Agro-Tech Inds. Ltd.
Gujarat-Godrej Innovative Chemicals Ltd. [Erstwhile]
Micron Chemicals Ltd.
Ruchi Soya Inds. Ltd.
Raj Agro Mills Ltd.
