The Global Glycol Ether Market is expected to grow at a CAGR of 5.2% during the forecasting period (2021-2028).
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 of both an ether and an alcohol within its make-up and is mainly used to dissolve other substances. Rapidly increasing construction activities are expected to augment the growth of glycol ethers market. Growing product usage in personal care, automotive, cleaners, and paints & coatings due to its excellent chemical and physical properties proliferates the market expansion. Also, upsurge in water-based coating demand will spur the demand for glycol as as it can be used as a coalescing agent in these coatings. This, in turn, propels the product demand from printing inks and personal acre industries. Additionally, the waterborne coating market has witnessed considerable growth in the past few years due to strict regulatory policies favoring the use of environment friendly coating in the architectural and industrial sectors.
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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. Global cosmetics business is likely to surpass $450 million by 2025, with gains at over 4.5%. Rise in per-capita disposable income, change in lifestyle , and increasing demand for skin care products due to varying climatic conditions are key factors expected to boost the industry growth. Rapid rise in 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 to the product manufacturers focusing on propylene oxide as a starting material. Volatility in raw materials and utilities adversely constrain profitability of manufacturers, and subsequently act as a negative stimulus on the global pricing scenario.
Increasing economic growth of glycol ethers
Rising economic growth of 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 cardboards 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.
Paint & Coatings
Middle East and Africa
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The glycol ether market is highly competitive, due to the presence of 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.
Sai Kiran Sales Manager at DataM Intelligence Email: [email protected] Tel: +1 877 441 4866 Website: www.datamintelligence.com