DataM IntelligenceGlobal Glycol Ether Market is expected to grow at a CAGR of 5.2% during the forecasting period (2022-2029).Market Overview:
Glycol ethers are a collection of alkyl ethers-based solvents of propylene glycol or ethylene glycol, typically used in cleaners and paints. It is a liquid that comprises both an ether and alcohol within its make-up and is mainly used to dissolve other substances. Rapidly increasing construction activities are expected to augment the growth of the glycol ethers market. Growing product usage in personal care, automotive, cleaners, and paints & coatings due to its excellent chemical and physical properties proliferate the market expansion. Also, an upsurge in water-based coating demand will spur the demand for glycol as it can be used as a coalescing agent in these coatings. This, in turn, propels the product demand from printing inks and personal care industries. Additionally, the waterborne coating market has witnessed considerable growth in the past few years due to strict regulatory policies favoring the use of the environment-friendly coating in the architectural and industrial sectors.
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Market Dynamics
Glycol ether is widely used in personal care products and cosmetics in the formulation of skin & hair products, shampoos, personal cleanliness products, and bath products. The global cosmetics business is likely to surpass $450 million by 2025, with gains at over 4.5%. The rise in per-capita disposable income, changes in lifestyle, and increasing demand for skincare products due to varying climatic conditions are key factors expected to boost the industry growth. The rapid rise in the personal care sector due to increasing consumer consciousness regarding health hygiene is expected to accelerate the glycol ether market share. The stringent REACH regulations concerning the toxic nature of ethylene oxide-based derivatives is a constraining effect on the industry. This resulted in the product manufacturers focusing on propylene oxide as a starting material. Volatility in raw materials and utilities adversely constrain the profitability of manufacturers and subsequently act as a negative stimulus on the global pricing scenario.
Increasing economic growth of glycol ethers
The rising economic growth of the glycol ethers market is expected to augment printing inks demand owing to its widespread usage in publishing print products such as books, newspapers, journals, technical printed material, and magazines. Global printing inks segment demand is projected to reach $25 billion up to 2025 on account of growing demand from corrugated cardboard and flexible packaging applications. Glycol ether is widely utilized in printing inks manufacturing owing to its quick-drying nature and compatibility with high-speed roll to roll yardage printing.
The rise in consumer consciousness
Growth in consumer consciousness and changing sociological perceptions towards environment sustainability is likely to boost glycol ether market demand in the automotive sector. In 2018, China accounted for about 30% of global vehicle sales. Rising demand for nontoxic coatings & shifting consumer perceptions towards improved technological changes and vehicle colour coupled with growing automobile business will stimulate the paints and coating business demand.They are widely used in protection against external environmental factors such as UV radiation and acid rain which will further stimulate market growth.
COVID-19 Impact Analysis
The major applications of glycol ether are in paints & coatings, cleaners, automotive sectors. The coronavirus pandemic has severely hit the automotive sector with declining sales of new automobiles and reduced maintenance activities, thus affecting the demand for glycol ether. Also, the paints & coatings industry has witnessed a brunt due to limited raw material availability and the shutdown of production facilities, further affecting the glycol ether market growth.
Segment Analysis
- By Type
- Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type Segment
- Market Attractiveness Index, By Type Segment
- By Application
- Introduction
- Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application Segment
- Market Attractiveness Index, By Application Segment
Geographical Analysis
Based on geography, the study analyzes the global glycol ether market, including North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.
Asia-Pacific holds the largest share in the global glycol ether market throughout the forecast period
Asia-Pacific occupies the major share in the global glycol ether market due to the growing industrial and construction activities in developing nations. Other than that, the high demand for personal care products is also growing in the market in this region. The growth in this region is propelled by the growing demand for paints, adhesives, coatings, printing inks, cleaners, and electronics & semiconductors. Some of the key contributors in the region are China, India, and Japan which hold a significant regional market share. The rise in renovation and housing activities offers lucrative opportunities for the paints & coatings market players, which, in turn, boosts the product demand growth in the coming years. Furthermore, favorable government initiatives will augment the residential construction activities in the rural and semi-urban areas further intensifying the product demand. Also, significant e-commerce industry in the region with increasing internet penetration drives the demand for packaging of products, thus augmenting the demand for printing inks, which in turn, drives product consumption.
Competitive Landscape
The glycol ether market is highly competitive, due to the presence of a large number of manufacturers. The key players which are contributing to the growth of the global glycol ether market include The Dow Chemical Company, BASF Se, LyondellBasell Industries Holdings N.V., Royal Dutch Shell plc, Eastman Chemical Company, Sasol Limited, Hannong Chemicals Inc., Dynamic International Enterprises Limited, Jiangsu Ruijia Chemistry Co., Ltd. And FBC Chemicals.
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The Full Report has the below insights.
The report offers a comprehensive evaluation of the market in terms of Market Value (US$)
and Y-o-Y Growth Rates (%). It does so via in-depth qualitative insights, historical data
(2020-2021), and verifiable projections about market size during the forecast period (2022-2029).
Visualize the composition of Glycol Ether Market segmentation By Technology, service, By Application, and country, highlighting the key commercial assets and players.
By Product
By Type
By Application
Identify commercial opportunities in the Market by analyzing trends and co-development deals.
The report also covers data insights on various industry forces such as porter’s five forces, regulations in each country, reimbursement scenario, technological advancements, PEST analysis, and pricing analysis. Excel data sheet with thousands of Market-level 4/5 segmentation data points. PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
Product mapping in excel for the key product of all major market players The report will provide access to approximately 50+ market data tables, 40+ figures, and close to 180 pages.
Additional Benefits Post Purchase:
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