Market Synopsis of Mexico Glycerine Market:
The market for Mexico Glycerine Market has been increasing tremendously, specifically in East Mexico, owing to rise in the populations in this region resulting to increasing in demand for cosmetics & Personal Care industry. Additionally, food industry growth typically follows the growth of these key end markets. The demand from cosmetics & personal care industry for glycerine is increasing day by day in Mexico due to the constant innovation of the product in these industry. West Mexico is the second largest consumer of glycerine especially in terms of food & beverages and cosmetic products. However, the production of glycerine in Mexico is very low. To fulfil the consumption demand, Mexico imports glycerine in bulk quantity. In-addition, According to, market research, there is a tremendous opportunity for new comers or glycerine manufacturers to collaborate and expand the business to fulfil the gap between supply and demand in this sector.
Segment Analysis:
Mexico Glycerine Market by type has been segmented into natural & synthetic. Natural glycerine accounted for the largest market share of 90% in 2016, projected to grow at the highest CAGR of 5.13% during the forecast period. Synthetic glycerine accounted 10% of the market share in 2016, projected to grow at CAGR of 4.80%.
On the other hand, the market by application has been segmented into cosmetics & personal care, food, polyurethane, tobacco, alkyd resins and others. Cosmetics & personal care market has been growing with highest CAGR of 5.29% because of the recent advancements and continuous innovations in the products. In-addition, the market for food industry has been increasing with CAGR of 5.20%, due to increasing population in Mexico. Tobacco, polyurethane and pharmaceutical industries are subsequent industries, the glycerine consumption in these industries are growing with CAGR of 4.7%, 4.8% and 5.2% respectively.
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Additionally, glycerine is utilized in resins, oilfield and agricultural sector as well. It is utilized in manufacturing of alkyd resins, fracking application in oilfields industry and feed for the animal in agricultural sectors. The use of glycerine has accelerated the market to many extent due to its property as humectant, lubrication, sweet test, colorless nature. The glycerine derived from natural source mostly as a co product of biodiesel is of highest demand than the synthetic glycerine. Moreover, refined glycerine is on highest demand than crude glycerine. Based on the grade and its applications, 80% of the refined glycerine is consumed however only 20% of the crude glycerine is demanded by the application sectors.
Market Highlights:
Glycerine is major component of triglyceride, found in animal fat, vegetable oil and crude oil. Glycerine is major by-product of biodiesel manufacturing process. Glycerine is a material of outstanding utility with many area of applications. A unique combination of physical and chemical properties of glycerine makes it technically versatile product which is readily compatible with many other substances and easy to handle. Glycerine is also non-toxic to human health and also to environment. Physically, glycerine is a water soluble, clear, colourless, viscous, odourless, hygroscopic liquid with high boiling point. These unique properties enable glycerine to find usage in application such as cosmetics & personal care, food, tobacco, polyurethane, resins and other.
Mexican glycerine market has been increasing tremendously, specifically in East Mexico, owing to rise in the populations in this region resulting to increasing in demand for cosmetics & personal care products, food & beverages due to its excellent property as humectant, sweet test, lubrication and colorless nature. In-addition, the production of glycerine is very less however the consumption is high so there is a huge entrance for the manufacturers to collaborate or expand the production facility to fulfill the gap between the supply and demand.
Regional Analysis:
“East Mexico is projected to be the largest market during the forecast period”
As per MRFR analysis East Mexico dominated the Mexican Glycerine Market and has accounted for the largest share of 40% in 2016 and projected to grow at CAGR of 5.39%. East Mexico market is followed by West Mexico (30%) and South Mexico (20%) with growth at CAGR of 5.20% and 4.5% respectively. Moreover, East Mexico market will witness growth above average with respect to demand of the same throughout the forecast period driven by strong growth in cosmetic & personal care and food industry in the region.
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In terms of volume, West Mexico, South Mexico and North Mexico are expected to witness robust growth during the forecast period. Availability of skilled manpower, cheap labor are some of the factors driving the glycerine consumption market in these regions. Mexican Glycerine Market has been changing constantly in terms of applications, technologies, innovation and performance along with the product innovations and developments and hence the demand for glycerine is also growing with newer applications and growth of end user industries. A large part of demand for glycerine comes from various end-use industries such as cosmetics & personal care, food, tobacco and resin industry.
In 2016, Mexican glycerine consumption was 63 Thousand MT, however it produced 7.9 Thousand MT of glycerine. To fulfill the demand and supply gap, Mexican major consumers and small traders imported the glycerine of 55 Thousand MT. Most of the import done from Germany, brazil, Italy and US.
Key Points from Table of Content:
11 Company Profiles
11.1 Cargill Incorporated
11.1.1 Company Overview
11.1.2 Product/Business Segment Overview
11.1.3 Financial Overview
11.1.4 Key Development
11.2 Kao Corporation
11.2.1 Company Overview
11.2.2 Product/Business Segment Overview
11.2.3 Financial Updates
11.3 QUIMIC SA de CV
11.3.1 Company Overview
11.3.2 Product/Business Segment Overview
11.3.3 Financial Updates
11.4 Quimica Delta
11.4.1 Company Overview
11.4.2 Product/Business Segment Overview
11.4.3 Financial Updates
11.5 Oxiteno Mexico, S.A de C.V
11.5.1 Company Overview
11.5.2 Product/Business Segment Overview
11.5.3 Financial Updates
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