Due to the combination of physical and chemical properties, glycerin, also known as glycerol, is a technically versatile chemical. Furthermore, superior chemical compatibility and ease of handling are important in many industrial applications. As a result, demand for refined glycerine is growing in food production, chemical manufacture, medicines, personal and home care, and other specialist uses with other oleochemicals such fatty alcohols, fatty acids, and esters. Key competitors in the area industry are investing in new facilities and boosting output to capitalise on such potential prospects. For example, in August 2020, Bojagro SA, a subsidiary of the Bahia Energia Group, opened a production plant in Ramallo, Argentina, with a US$ 15 million investment. The technical and USP grades of glycerol will be produced at the new factory.
COVID-19 IMPACT
The demand for an effective hand sanitizer has surged since the COVID-19 epidemic. Sanitizers have been recommended as an effective tool for combating the global spread of the coronavirus. In order to make hand massages, glycerol is utilised in modest amounts. During the pandemic, the World Health Organization advocated combining glycerol with hydrogen peroxide, ethanol, and other chemicals in hand sanitizers. In addition, in a tropical climate, the WHO has adjusted an EBHR formulation with 0.5 percent glycerol, which has better skin tolerance than the original formulation and hence may provide the greatest balance of skin lenience and microbiological efficiency. As a result, the COVID-19 epidemic boosted demand for glycerine in hand sanitizer manufacturing. According to Fortune Business Insights, the global hand sanitizers market is expected to grow at a CAGR of 6.2 percent over the next several years.
The glycerin market is divided into refined glycerin, crude glycerin, and other grades such natural and blonde glycerin. Technical grade glycerin is used in the production of chemicals but is not suitable for human consumption; USP grade (United States Pharmacopeia) glycerin is suitable for use in food or pharmaceuticals; and Kosher grade glycerin is derived from plant oil sources and is suitable for food and beverages.
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