LOS ANGELES, May 15, 2019 (GLOBE NEWSWIRE) -- The Global Glycol Ethers Market is estimated to grow at CAGR above 5.2 % over the forecast time frame 2019-2026 and reach the market consumption around 3 Million Tons by 2026.
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A high level of demand is expected to increase market growth for water-soluble active ingredients in end-use industries, such as printing and personal care industries. Increased use of water-driven coatings consisting of glycol ether as a coalescing agent was the main reason for growth in the press and personal care sectors. Due to regulatory policies that favor the use of environmentally-friendly coating in the architectural and industrial sectors, the waterborne coating market has seen significant growth in recent years. In the medium term, the requirements of other end-users such as woodwork, aerospace and defense as well as the maritime industry will further increase.
The United States is an important part of the painting and coating industry with around 278,000 employees in 2017. The U.S. paints and lacquers industry is close to USD 30 billion, with almost 1,000 companies competing for greater market share. While U.S. is expected to remain the biggest market in North America, future developments will be driven by toxicology studies that reflect human health hazards due to lower molecular weight glycol ethers. The use of the product in consumer goods is now restricted by strict regulations from associations such as the European Union (EU) and the United States Food and Drug Administration (FDA) throughout Europe and North America, respectively.
PGEAs are industrial solvents for the production of paints, lacquers, inks and cleansers. Ether acetates Propylene Glycol are a product of high quality. These products have been widely accepted for the development and reformulation of a new product in different end uses as solvents. A such example would be the P-serial PMA-Electronic, in photoresist formulations that are used for the semi-conductor industries, that has replaced ethylene acrylates. The solvent can also be used for the degradation and cleaning of circuit boards.
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There is a restricting effect on the industry in REACH regulations regarding the toxicity of ethylene oxide-based derivatives. This has led to producers concentrating as a starting matter on propylene oxide. Raw material volatility and utility volatility severely limit manufacturers ' profits, thus acting as a negative boost to world pricing.
Product Outlook
There are 30 different solvent types in the glycol ethers product family, which can be classified according to the material used (propylene or ethylene), into two major groups, namely, the e-series and the P series. The E-series includes ethylene glycol butyl ether, ethylene glycol propyl ether and ether acetate as key products because they are highly compatible with various organic solvents and water. They also have low volatility and strong solvent characteristics, which diversify applications in cosmetics, medicines, electronics, personal treatment and many others.
Regional Snapshot
Stable growth prospects across North America's end-use industries, partially credible for the signing of a renewed trilateral Treaty, USMCA, will play a key role while evaluating future opportunities for glycol ethers across the region. While the United States and Canada display the characteristics of a highly-developed industrial landscape governed by regulatory agencies policies, Mexico is known as an emerging production hub.
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Key Players & Strategies
Global market shares are divided between major players in industry such as BAS Food and Food Safety, Sasol, Huntsman Corporation, Shell, Lyondell Basell, Matric Chemicals and Biesterfeld AG. Mergers & Joint Enterprises are involved in increasing their presence & expanding product portfolio and increasing their research potential to achieve greater benefits. Merge & Joint Enterprise is a major contributor of the company. Moreover, manufacturers focus on high quality products to promote the overall growth of industry that are economically sustainable.
The presence of a wide range of products covering several end-use industries has allowed these companies to consolidate their top market position. Apart from product innovation, a strong marketing of their products is one of the key aspects covered by those multinationals, which captures a wider customer base.
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