NEWARK, Del, June 02, 2022 (GLOBE NEWSWIRE) -- The glycol ethers market is expected to escalate at a CAGR of 5.0% from USD 7.3 Billion in 2022 to USD 11.9 Billion through 2032. High demand for water-soluble active ingredients is projected to drive glycol ethers market expansion in end-use sectors such as printing and personal care. The increasing adoption of glycol ethers as a coalescing agent in water-based coatings has been a major driver of growth in the printing and personal care industries.
The global glycol ethers market is predicted to increase due to rising demand for glycol ethers in the personal care, cleansers, paints & coatings, pharmaceutical, and printing industries over the forecast period. It is widely utilized in the formulation of skin and hair products, shampoos, personal hygiene products, and bath products in personal care and cosmetics.
Furthermore, rising demand for printing inks as a result of increased economic growth is likely to propel the glycol ethers market size, as these are employed in the manufacture of printing inks because of their quick-drying properties and compatibility with high-speed roll-to-roll yardage printing. Printing inks are utilized in a variety of industries, including the publication of books, newspapers, journals, technical printed documents, and magazines.
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The global market is estimated to reach US$ 25 billion by 2025, according to Future Market Insights, due to rising demand for corrugated cardboard and flexible packaging applications. This is likely to change the glycol ethers market outlook.
Rapid urbanization, repairs of aging structures, and many smart city initiatives are the primary drivers of the construction industry's growth. The construction industry's rapid expansion is predicted to boost the growth of the paints and coatings industry, which will force the worldwide demand for glycol ethers forward.
On the other hand, REACH and EPA rules concerning the use of glycol ethers, as well as the advent of new products, such as cellulosic ethanol, as a solvent for cleaning agents, are limiting the adoption of glycol ethers.
Key Takeaways:
- Due to strong growth in the pharmaceutical and personal care industries, the Asia Pacific region held the highest share of the glycol ethers market in 2020, accounting for more than 35%.
- The P-series sector dominated the global glycol ethers market, owing to a rapid increase in demand for personal care products and increased public awareness of the benefits of personal care products.
- The US glycol ethers market size is predicted to reach a valuation of US$ 4.2 Billion by 2032.
- Paints and coatings segment is expected to grow at a rate of 4.9% throughout the forecast period.
- In Asia, China glycol ethers market is anticipated to rise at a CAGR of 4.4% from 2022 to 2032.
Competitive Landscape:
Companies are merging and forming joint ventures to expand their presence and product line, as well as expanding their research potential to acquire a competitive advantage in the glycol ethers industry. Furthermore, in order to promote overall growth of sales of glycol ethers, producers are focusing on economically sustainable and high-quality products.
The glycol ethers industry is fragmented, with many competitors owning insignificant market share and hence having little influence on market dynamics. BASF SE, Eastman Chemicals Company, Royal Dutch Shell, and Dow are just a few of the notable participants in the market.
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Recent Development:
BASF plans to boost production of integrated ethylene oxide and ethylene oxide derivatives at its Verbund facility in Antwerp in September 2019. The investment surpasses €500 million, according to the firm, and adds 400,000 metric tonnes per year to the company's production. Non-ionic surfactants and glycol ethers for automotive applications are examples of ethylene oxide derivatives.
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Summary of Statistics
1.3. Key Market Characteristics & Attributes
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Risks and Trends Assessment
3.1. Risk Assessment
3.1.1. COVID-19 Crisis and Impact on Glycol Ethers
3.1.2. COVID-19 Impact Benchmark with Previous Crisis
3.1.3. Impact on Market Value (US$ Mn)
3.2. Key Trends Impacting the Market
3.3. Formulation and Product Development Trends
4. Market Background
4.1. Glycol Ethers Market, by Key Countries
4.2. Glycol Ethers Market Opportunity Assessment (US$ Mn)
4.2.1. Total Available Market
4.2.2. Serviceable Addressable Market
4.2.3. Serviceable Obtainable Market
4.3. Market Scenario Forecast
4.3.1. Demand in optimistic Scenario
4.3.2. Demand in Likely Scenario
4.3.3. Demand in Conservative Scenario
4.4. Investment Feasibility Analysis
4.4.1. Investment in Established Markets
4.4.1.1. In Short Term
4.4.1.2. In Long Term
4.4.2. Investment in Emerging Markets
4.4.2.1. In Short Term
4.4.2.2. In Long Term
4.5. Forecast Factors - Relevance & Impact
4.5.1. Top Companies Historical Growth
4.6. Market Dynamics
4.6.1. Market Driving Factors and Impact Assessment
5. Key Success Factors
5.1. Manufacturers’ Focus on Low Penetration High Growth Markets
5.2. Banking on with Segments High Incremental Opportunity
5.3. Peer Benchmarking
6. Global Glycol Ethers Market Demand Analysis 2015-2021 and Forecast, 2022-2032
6.1. Historical Market Analysis, 2015-2021
6.2. Current and Future Market Projections, 2022-2032
6.3. Y-o-Y Growth Trend Analysis
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