Mexico Glycerine Market expansion key development | Emery Oleochemicals, IOI Corporation Berhad, KLK OLEO, Musim Mas, Wilmar International Ltd
Mexico Glycerine Market -Overview
The use of glycerine has increased considerably, especially in cosmetic products, are estimated to promote the market's growth. Reports created by MRFR detail the developments in the industry that can be expected in the market through the forecast period. The Mexico glycerine market is anticipated to reach USD 106.4 USD million with a 5.1% CAGR by 2023.
The increase in production capacities is estimated to enhance the market players' opportunities in the forecast period. The development of the logistics systems is estimated to further enrich the market's development in the near future.
Segmental Analysis
The segmental investigation of the Mexico glycerine market is carried out on the basis of source, grade, application and region. The source segment of the Mexico glycerine market is segmented into synthetic and natural. The Mexico glycerine market segment is segmented into South Mexico, northern Mexico, East Mexico, and West Mexico. The grade segment of the Mexico glycerine market is segmented into refined and crude. The Mexico glycerine market's application segment is segmented into food, tobacco, cosmetics and personal care, pharmaceutical, polyurethane, alkyd resins, and others.
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Detailed Regional Analysis
The Mexico glycerine market's regional assessment is segmented into South Mexico, North Mexico, East Mexico, and West Mexico. The regional market in Mexico for glycerine has been growing greatly, especially in East Mexico, due to increased residents in this region, causing an increase in requirements from the cosmetics & personal care industry. The area of West Mexico is the next major user of glycerine, particularly in terms of food & beverages and cosmetic products. The manufacture of glycerine in Mexico is very little, hence to fulfill the consumption demand, Mexico imports glycerine in mass quantity. It has also been observed there is a remarkable opportunity for new entrants or glycerine producers to cooperate and increase the business to bridge the gap between supply and demand in this sector.
Competitive Analysis
The market is estimated to move forward with caution due to the experiences gained during the pandemic. The surge in innovation and resynchronization of the operation and distribution cycle is estimated to create a constructive situation for the overall market's future. The rise in acquisitions and mergers is estimated to recreate an encouraging environment for the players, leading to several new product offerings. The government support is estimated to have a positive scope for the development in several key areas of the global market. The use of online channels is estimated to gain more precedence as the market comes to terms with the new business realities. The promotion of international trade is predicted to create a promising overall effect on the market, with many companies choosing this period to test new and untapped markets. The advancement in the global distribution chains is estimated to further enrich the market's progress in the coming period.
The key players in the Mexico Glycerine market are Cargil Inc., Kao Chemicals, Quimic SA de CV, Quimica Delta, Pemex, and Oxiteno Mexico SA de CV, to name a few.
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Industry Updates:
Oct 2020 Shrieve Chemical Company announced that it had purchased the styrene business unit and other properties from CLP Chemicals ("CLP"), a leading industrial chemical distributor. CLP concentrates on the delivery of styrene, acetic acid, acrylates, glycerin and other special chemicals. CLP will maintain and carry on to operate its glycerin business unit.
Aug 2020 Lubrizol Advanced Materials has revealed freeze master antifreeze, a patent-pending factory premixed mixture which persists in a protective liquid state to -12°F (-24°C). It can be fitted per its inventorying and serviced in all novel and current fire sprinkler systems for light hazard, residential, ordinary hazard and storage applications, counting volumes up to 500 gallons for 13R Light Hazard Attics and Unoccupied NFPA 13 versus listed alternatives restricted to 40 gallons. NFPA standards necessitate that glycerin and propylene glycol antifreeze solutions consumed in prevailing wet sprinkler systems be substituted with a listed antifreeze solution by September 30, 2022.
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