Predictions for Glycine Market

Category: 

HeBei Donghua Jiheng Aminoacid Sci.& Tec. Co. Ltd are a large-scale professional manufacturer of amino acetic acid (glycine). Glycine is categorised as the smallest possible amino acid, and is present in the pharmaceutical, cosmetic, and food and beverage markets. HeBei Donghua Jiheng’s primary products include pharma-grade glycine, food-grade glycine, and they are the largest aminoacetic acid production base in the world.  

The demand for glycerine has increased internationally which affects key players such as HeBei Donghua Jiheng Aminoacid. According to a recent report, Global Market Study on Glycine conducted by Persistence Market Research, more than 165,000 tons of glycine worth around US$1,192.2 Mn will be consumed globally by the end of 2024.  

The report suggests a moderate pace of growth between 2016 and 2024 with a projected value of CAGR at 3.9%. The decelerated growth is due to a number of factors including downward pricing, imposition of antidumping duties, and volatility in material costs. North America is forecast to remain the world’s largest glycine market with Europe’s revenues expected to rise. Meanwhile the Asia-Pacific glycine market, which HeBei Donghua Jiheng operate in, is expected to soar at the highest CAGR through 2024.  

HeBei Donghua Jiheng Aminoacid Sci.& Tec. Co. Ltd have exhibited at various Fi events including Hi Europe 2018 and Fi Asia Thailand 2017.