Glycerol Carbonate Market CAGR Status, Growth, Analysis and Forecast (2020-2030)

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Glycerol Carbonate and EP Crucial for Mass Production of Detergents and Paints

Glycerol is a waste product of biodiesel, where the latter is made from natural vegetable oils and fats. Rapid growth of the biodiesel industry has created increasing volumes of glycerol waste. Hence, companies in the glycerol carbonate market are capitalizing on this issue to process waste glycerol, which involves the reaction of carbon dioxide with methanol and other procedures, ultimately creating an important chemical intermediate called glycerol carbonate. As such, glycerol carbonate is being converted into epoxy propanol (EP), which is used in the large-scale production of detergents, healthcare products, and industrial paints & coatings.

Epoxy propanol is being primarily manufactured in Japan and the U.S. This is evident, since the per capita consumption of detergents is surging in countries of Asia Pacific including India, China, and other parts of the world such as Brazil. Thus, manufacturers in the glycerol carbonate market are focusing on capacity additions to meet end user demands.

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Minimal Purification of Glycerol Facilitates Cost-efficient EP Production

The conversion of glycerol to produce epoxy propanol is gaining popularity as a sustainable solution for mass production of detergents and healthcare products. Epoxy propanol is conventionally produced via epoxidation of ally alcohol with hydrogen peroxide or the other method of epichlorohydrin with a caustic agent. However, both these methods generate toxic byproducts such as hydrochloric acid, thus resulting in costly purification processes for EP production to prevent acid residues from entering the environment. Hence, the conversion of glycerol into glycerol carbonate is being highly publicized as a cost-efficient method for the EP production in the glycerol carbonate market.

Glycerol does not require any significant purification prior to combination with dimethyl carbonate (DMC). This has improved economics for the production of EP, thus minimizing waste streams in the glycerol carbonate market.

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Thermochemical Processes Minimize Purification Costs for Glycerol Used in Biodiesel Production

The main asset for economic development of any country is energy. However, in the past two decades, the world has been facing energy and environmental crisis due to the depletion of crude oil reserves and the ever-increasing fuel demand. This has catalyzed bioenergy development, which serves as an environment-friendly alternative to crude oil. As such, companies in the glycerol carbonate market are developing biofuel concerning the disposal or revalorization of byproducts such as glycerol.

Biodiesel is an effective alternative to overcome global petroleum depletion. However, unique challenges in the biodiesel industry such as quality & acceptance issues and issues in waste management are concerning companies in the glycerol carbonate market. Hence, companies should adopt thermochemical processes for the purification of glycerol, which can be further used for the production of biodiesel.

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Energy Generation Industry Revives Market Growth as Coronavirus Pandemic Subsides

Worldwide lockdown norms due to the COVID-19 (coronavirus) outbreak in several countries has affected the sales of biofuel. This has directly impacted the revenue generation activities in the glycerol carbonate market, since crude glycerol is processed to produce biofuel. More than 30% of the energy consumed in the U.S. is via transportation. Due to lockdown regulations and stringent transportation norms by the local and federal agencies, the demand for biodiesel has suffered in the past couple of months. With relaxation in lockdown rules, companies in the glycerol carbonate market can hope to revive market growth.

e-Commerce deliveries have been generating stable revenue streams for glycerol carbonate manufacturers, owing to the large transportation network in the U.S. which demands biofuel. However, plant shutdowns have severely affected the business for glycerol carbonate manufacturers. As the COVID-19 pandemic is beginning to subside in several countries, manufacturers can hope for developments in market growth.

Safe and Environment-friendly Solvents Highly Preferred by Surface Coating Manufacturers

Companies in the glycerol carbonate market are increasing their R&D efforts to manufacture safe and environment-friendly solvents. Such developmental production practices have helped to replace hazardous and highly volatile solvents such as methylene chloride, acetone, and aromatic solvents. As such, the glycerol carbonate market is projected to expand at a favorable CAGR of 7% during the forecast period. Hence, manufacturers are increasing their production capabilities to develop effective glycerol carbonates that serve as excellent solvents for organic and inorganic systems.

Glycerol carbonate manufacturers are casting a laser-like focus in surface coatings and plastic products. On the other hand, intermediates for polyester preparation are in high demand. The trend of VOC (Volatile Organic Compound)-free solvents is gaining prominence in the market landscape. Manufacturers are establishing stable revenue streams in the fuel sector to capitalize on value-grab opportunities.