Glycol Ethers Market Market Size
[170+ Pages Research Report] Glycol Ethers Market to surpass USD 11.5 billion by 2032 from USD 6.23 billion in 2021 at a CAGR of 5.7% throughout the forecast period 2022-32
Glycol Ethers are members of the family of the chemical substance comprising Alkyl ethers based on glycols like ethylene glycol or propylene glycol. They are frequently used in paints and cleansers as solvents. They have greater boiling points than ethers and alcohols with lower molecular weights, yet they exhibit acceptable solvent characteristics. Besides being used as solvents, glycol ethers are also a component of cleaning agents, liquid soaps, and cosmetics. Workers who are acutely exposed to high concentrations of glycol ethers develop narcosis, severe liver, pulmonary edoema, and kidney damage. E-Series and P-Series are the key categories of glycol ethers. Glycol diethers and glycol ether acetates are created by undergoing additional chemical reactions using glycol ethers from the E-series and P-series.
Market Highlights
The Glycol Ethers Market is expected to project a notable CAGR of 5.7% in 2032.
Glycol Ethers Market to surpass USD 11.5 billion by 2032 from USD 6.23 billion in 2021 at a CAGR of 5.7% in the coming years, i.e., 2022-32. The demand for glycol ethers is predicted to rise in the personal care, paints & coatings, cleaning, printing, and pharmaceutical industries during the forecast period. The demand for Glycol Ether is also being driven by its increased use in personal care goods and cosmetics for the formulation of hair and skin products, shampoos, bath products, and personal hygiene products.
Figure - Market Analysis of Glycol Ethers Market
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Glycol Ethers Market: Segments
The P-Series segment is expected to grow with a higher CAGR during 2022-32
Glycol Ethers Market is categorized on the basis of Type into E-Series, P-Series. The P-series segment dominated the global Glycol Ethers Market, due to the sudden increase in the demand for personal care products and the public's increased knowledge of healthcare issues and the benefits of personal care products. Body washes, shampoos, and soaps can all benefit from using glycol ethers due to their low surface tension and low toxicity.
The Paints & Coatings segment is expected to grow with a higher CAGR during 2022-32
Glycol Ethers Market is categorized on the basis of End Use Industry into Paints & Coatings, Printing, Pharmaceuticals, Cosmetics & Personal Care, and Others. The global glycol ethers market was driven by the paints and coatings segment due to speedy automation and industrialization. The need for paints and coatings has increased due to the quick growth of infrastructure in developing nations like India, China, and Brazil. The market is growing due to the increasing use of corrosion inhibitor coatings on metal items used in the aerospace, automotive, and defense industries.
Figure - Market Analysis of Global Glycol Ethers Market
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Market Dynamics
Growth Drivers
Attractive Benefits of Printing Inks and their Growing Demand in Multiple Fields
Glycol ethers are widely used in the production of printing inks due to their quick drying characteristics and compatibility with high-speed roll-to-roll yardage printing, therefore rising economic growth is anticipated to drive the demand for printing inks. In many different industries, including publishing print items like books, journals, newspapers, magazines, and technical printed documents, printing inks are used.
The Usefulness of Glycol Ether and Growing Demand as a Raw Ingredient
Glycol ether is a helpful solution in the production of numerous personal care products due to its high boiling point and outstanding solvent properties. Due to the extensive use of personal care products, there is a high demand for glycol ether as a raw ingredient. Over the estimated period, this is anticipated to fuel industry growth. Moreover, during the anticipated period, end users' increasing use and consumption of water-based coatings will promote the Glycol Ethers Market growth.
Restraint
Strict Regulations on the Use of Glycol Ether by Companies and Side-Effects Caused By Glycol Ether
Strict rules established by numerous organizations on the use of glycol ether in consumer goods are the main factor limiting the market's growth. As a result of low level and direct exposure to the substance, people may also experience side effects like upper respiratory tract irritation, conjunctivitis, temporary ocular clouding, headache, and nausea. The market growth is anticipated to be hampered by the growing concern about these negative effects.
Recent Developments
- BASF intends to increase the production of integrated ethylene oxide and ethylene oxide derivatives starting in September 2019, at its Verbund plant in Antwerp. The corporation also states that the investment surpasses €500 million and increases annual production by 400,000 metric tons.
- In September 2021, KPX Chemical and Huntsman Corporation (NYSE: HUN) announced the creation of joint venture, named ‘KPX HUNTSMAN POLYURETHANES AUTOMOTIVE Co Ltd’ for chemical manufacturing The joint venture's primary objective is to develop and supply innovative polyurethane system solutions to Korean automakers.
- In August 2020, Kemipex became a member of the European Lubricants Industry Directory (ELID). They are pioneers in the chemical business, and the products they have designed expressly to meet the needs of every segment of the chemical sector give value to their needs. Kemipex anticipates that by joining the ELID, it would be able to reach a larger audience and provide its unmatched services in turning customer needs into competitive market advantages in the chemical sector.
Glycol Ethers Market: Key Players
- BASF SE
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
- The Dow Chemical Company
- INEOS
- Lyondellbasell
- Eastman Chemical Company
- Huntsman Corporation
- India Glycols Limited
- Oxiteno
- KN Neochem
- HanNong Chemicals
- Kemipex
- FBC Chemical
- Henan GP Chemical
- Nippon Nyukazai
- Jangsu Yida Chemical
- Other Prominent Players
Glycol Ethers Market: Regions
Glycol Ethers Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Asia Pacific currently holds a major share of the Glycol Ethers Market due to the expanding industrial and construction activity in developing countries like India, Indonesia, the Philippines, and Vietnam. Furthermore, the market in this region is growing as a result of the strong demand for personal care goods.
Regulations on fuel emissions have increased the demand for glycol ethers in North America since it is a type of low emission oxygenated diesel fuel. The increased demand for glycol ethers in Europe is due to the region's growing consumer awareness and expanding personal care industry. The rising pharmaceutical industry in Latin America will be a major factor in the Glycol Ethers Market growing in that region. Glycol ethers will also experience growth in the Middle East and Africa due to the region's expanding industries' increasing demand for paints, adhesives, and coatings.
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Impact of Covid-19 on Glycol Ethers Market
The COVID-19 pandemic is affecting several businesses, but the chemical industry was one of the few that was largely affected. The COVID-19 has a significant negative impact on the automobile and construction sectors, which also has an effect on the Glycol Ethers Market. The market is being significantly impacted by the slowdown in construction operations caused by a shortage of personnel and raw material supplies.
Glycol Ethers Market is further segmented by region into:
- North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
- Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
- Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Glycol Ethers Market report also contains analysis on:
Glycol Ethers Market Segments:
- By Type
- E-Series
- P-Series
- By Application
- Solvent
- Anti-Icing
- Hydraulic & Brake Fluid
- Chemical Intermediates
- By End Use Industry
- Paints & Coatings
- Printing
- Pharmaceuticals
- Cosmetics & Personal Care
- Others
- Glycol Ethers Market Dynamics
- Glycol Ethers Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved in the Market
- Value Chain of the Market
- Market Drivers and Restraints
Glycol Ethers Market Report Scope and Segmentation
REPORT ATTRIBUTE |
DETAILS |
|
Market Size Value in 2021 |
USD 6.23 billion |
|
Revenue Forecast in 2032 |
USD 11.5 billion |
|
Growth Rate |
CAGR of 5.7% from 2022 to 2032 |
|
Base Year for Estimation |
2021 |
|
Quantitative Units |
Revenue in USD billion and CAGR from 2022 to 2032 |
|
Report Coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
|
Segments Covered |
Type, Application, End Use Industry, and Region |
|
Regional Scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
|
Key Companies Profiled
|
BASF SE, The Dow Chemical Company, INEOS, Lyondellbasell, Eastman Chemical Company, Huntsman Corporation, India Glycols Limited, Oxiteno, KN Neochem, HanNong Chemicals, Kemipex, FBC Chemical, Henan GP Chemical, Nippon Nyukazai, Jangsu Yida Chemical, and Other Prominent Players. |
Frequently Asked Questions (FAQ):
The Glycol Ethers Market size was estimated at USD 6.23 billion in 2021 and is expected to reach USD 11.5 billion in 2032.
Glycol Ethers are members of the family of the chemical substances comprising Alkyl ethers based on glycols like ethylene glycol or propylene glycol. They are frequently used in paints and cleansers as solvents.
The P-Series and Paints & Coatings segments accounted for the larger share of the Glycol Ethers Market.
Key players in the Glycol Ethers Market are BASF SE, The Dow Chemical Company, INEOS, Lyondellbasell, Eastman Chemical Company, Huntsman Corporation, India Glycols Limited, Oxiteno, KN Neochem, HanNong Chemicals, Kemipex, FBC Chemical, Henan GP Chemical, Nippon Nyukazai, Jangsu Yida Chemical, and Other Prominent Players.
The major drivers of the Glycol Ethers Market are the increasing demand for printing inks and the rising demand for glycol ether in the personal care, paints & coatings, cleaning, printing, and pharmaceutical industries during the forecast period.
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