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Global Glycidol Market size is forecast to reach US$189.2 million by 2027, after growing at a CAGR of 5.4% during the forecast period 2022-2027.

HYDERABAD, TELANGANA, INDIA, January 12, 2023 /EINPresswire.com/ -- The Global Glycidol Market size is forecast to reach US$189.2 million by 2027, after growing at a CAGR of 5.4% during the forecast period 2022-2027. Glycidol is primarily used in the synthesis of glycerol, esters, and amines. Moreover, it is used in the alkylation of 2-methyl quinazoline-4(3H)-one and theophylline to produce diproqualone, and dyphylline respectively. Glycidol is used in a wide range of industries, including pharmaceutical, paints & coatings, building & construction, automotive, packaging, cosmetics & personal care, textile, and other industries. According to Japan Paint Manufacturers Association (JPMA), Japan's total paints and coatings production reached 1,645,960 tons during the year 2019. An increase in paints and coatings production along with the increasing demand from the cosmetics & personal care industry acts as the major driver for the market. On the other hand, health hazards associated with the use of glycidol may act as a major constraint for the market.

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Key takeaways:

This IndustryARC report on the Glycidol market highlights the following areas -

1. Pharmaceutical intermediate application held a significant share in the Global Glycidol Market in 2021, owing to its increasing demand from the pharmaceutical sector across the world. In May 2021, Novartis' Sandoz invested around EUR 150 million (US$ 183.32 million) for the development of antibiotics manufacturing plants in Austria and Spain over the next three to five years.

2. Pharmaceutical industry held the largest share in the Global Glycidol Market in 2021, owing to the increasing production of medical drugs and expansion of healthcare facilities across the world. According to Institute for Healthcare Informatics, the overall volume of medicines used across the globe reached around 4.5 trillion doses in 2020 with an approximate cost of around US$ 1.4 trillion.

3. Asia-Pacific dominated the Global Glycidol Market in 2021, owing to the increasing demand for glycidol from the pharmaceutical sectors of the region. For instance, under Union Budget 2021-22, the Ministry of Health and Family Welfare has been allotted INR 73,932 crore (US$ 10.35 billion) and the Department of Health Research has been allotted INR 2,663 crore (US$ 365.68 billion). The government allotted INR 37,130 crore (US$ 5.10 billion) to the 'National Health Mission' with the aim of improving the country’s healthcare and pharmaceutical sectors.

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Segmental Analysis:

1. Glycidol Market Segment Analysis – By Application : The pharmaceutical intermediate application held a significant share in the Global Glycidol Market in 2021, owing to the increasing production of medical drugs and expansion of healthcare facilities across the world. For instance, Continuous Pharmaceuticals invested around US$ 125 million in order to build a pharmaceutical manufacturing facility in Massachusetts, U.S. in 2021. The development of the new facility began in October 2021 and is scheduled for completion by the end of 2022.

2. Glycidol Market Segment Analysis – By End-Use Industry : The pharmaceutical industry held the largest share in the Global Glycidol Market in 2021 and is expected to grow at a CAGR of 5.5% between 2022 and 2027, owing to the increase in pharmaceutical production across the globe. For instance, in January 2020, Eli Lilly invested around US$ 474 million to build a new pharmaceutical manufacturing facility in North Carolina, U.S.

3. Glycidol Market Segment Analysis – By Geography : Asia-Pacific held the largest share in the Global Glycidol Market in 2021 up to 30%. The consumption of glycidol is particularly high in this region due to its increasing demand from the pharmaceutical sector. For instance, according to the India Brand Equity Foundation, India ranks third for pharmaceutical production by volume across the world. India has an established domestic pharmaceutical industry that consists of approx. 3,000 drug companies along with 10,500 manufacturing units across the country.

Competitive landscape:

The top 5 players in the Glycidol industry are:

1. GC Group
2. HBCChem Inc.
3. Acros Organics
4. Fujifilm Wako Pure Chemical Corporation
5. Nacalai Tesque Inc.

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