The market is expanding as a result of rising demand for glycine from different end users. The demand for fast food, easy to prepare meals, and processed foods is likely to drive up glycine demand in the expanding processed food sector. In the near future, it is anticipated that new culinary ideas like "free food," "rush-hour foods," and others would increase demand for glycine. Because of the growing demand for foods high in protein, there will likely be an increase in the consumption of animal products like milk, eggs, and meat worldwide. As a result, the need for glycine in animal feed will rise, driving the glycine market's expansion. In the cosmetics sector, glycine is frequently used. Therefore, the glycine market will develop as a result of rising demand for cosmetic items brought on by changes in consumer lifestyle. For example, it is estimated that approximately 30% of glycine is utilised as an additive in cosmetics and personal care items in the United States, primarily deodorants and antiperspirants.
According to Coherent Market Insights, The global market for Glycine, which was expected to be worth US$ 1460 million in 2022, is anticipated to increase to US$ 1644 million by 2029, at a CAGR of 3.09% from 2023 to 2029.
Key Companies in the Glycine Industry:
1. Evonik Industries
The business is situated in Essen, Germany, and was established in 2007. Evonik Industries AG manufactures specialty chemicals. The company provides a range of products in the areas of consumer goods, animal nutrition, and pharmaceuticals. Evonik added ELATUR® TM to its line of plasticizers in April 2023. The biobased methacrylates used in VISIOMER® Terra were certified by Evonik in April 2023. A new levelling agent for premium automobile clear coatings, TEGO® Flow 380, was introduced by Evonik in March 2023.
2. GEO Specialty Chemicals, Inc.
The firm was established in 1993 and has its main office in Pennsylvania, United States. Chemicals are manufactured and supplied by GEO Specialty Chemicals, Inc. The company sells acrylic monomers, dispersants, surfactants, lubricants for oil well drilling, paints and coatings, chemicals for water treatment, additives, and lubricants. Globally, GEO Specialty Chemicals conducts business.
3. Showa Dekno KK
The business was started in 1939 and is located in Tokyo, Japan. Chemical manufacturer Showa Denko K. K. creates both consumer and industrial goods. Products from SDK are used in a broad range of industries, including heavy industry, electronics, and computers. Hitachi Chemical changed its name to Showa Denko Materials in June 2020. Showa Denko K.K. and Showa Denko Materials Co., Ltd. unite to establish Resonac in January 2023. In order to extend the life of LIBs and lower CO2 emissions, Showa Denko has chosen to increase VGCFTM production capacity by 30% in December 2022.
4. The Dow Chemical Company
The company was founded in 1897 and is based in Michigan, United States. The company manufactures rubber, plastics, specialty chemicals, and agricultural science. The packaging, building, food, and personal care industries are just a few of the industries that Dow Chemical serves globally. For the microirrigation market, Dow introduced a new FINGERPRINTTM grade in March 2023. To meet the sustainable transition in the construction insulation business, Dow introduced V PLUS PerformTM next in December 2022.
*Definition: The simplest amino acid, glycine, is a colourless, crystalline solid with a sweet flavour. In contrast to being insoluble in ethanol and ethyl ether, it is only slightly soluble in acetone. Due to its abundant availability in nature, it aids in the healthy functioning of the kidney and liver.
