The global glycol ether market size is projected to reach USD 7.1 billion by
2025, according to a new report by Grand View Research, Inc. It is projected to
register a CAGR of 5.4% during the forecast period. Steady rise in demand for
paints and coatings across developing countries is expected to drive the
market.
Glycol ethers are unique products that
combine the attributes of both alcohols and non-bases. The rise in demand for
specialty chemicals has led manufacturers to engage in product innovation to
develop offerings that perform the role of solvent along with being miscible in
water. Although glycol ethers are obtained from crude oil derivatives, their
lower carbon footprint has boosted popularity among application segments.
High foreign investment inflows into Asian
markets have propelled the regional chemicals industry, providing impetus for
glycol ether manufacturers to improve their capabilities. Asia Pacific is the
largest consumer - accounting for nearly 50% of the global demand in 2017— and
the fastest growing market, with majority of the demand trickling down to key
end-uses, such as pharmaceuticals, personal care and cosmetics, and paints and
coatings.
Paints and coatings application led the
global market, with nearly 800 kilo tons being consumed in the production of
architectural and automotive coatings and allied paint categories. In the
post-recession era, internal rate of returns in the paints and coatings sector
increased from 15.4% in 2009 to 25.1% in 2016, showing signs of stable growth
with the sector being valued at over USD 130 billion globally. Concurrent to
this trend, glycol ethers are expected to gain tremendous traction over the
forecast period.
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https://www.grandviewresearch.com/industry-analysis/glycol-ethers-market
https://www.grandviewresearch.com/industry-analysis/glycol-ethers-market
Further key findings from the report suggest:
· In terms of volume E-series product family
accounted for 37% of the overall consumption in 2017. However, regulations
surrounding its carcinogenicity and mutagenicity shall act as key restraint
factors over the forecast period
· China is a major player in the global
arena, with its consumption accounting for nearly a quarter of the global
shipments. Demand for glycol ether products in the country is projected to
expand at a CAGR of 5.7% from 2018 to 2025
· In the P-series product family, butyl
glycol ether accounted for nearly 35% of the global market share in terms of
volume in 2017. Positive demand outlook as a solvent in paints and coatings,
cleaners, and inks shall propel the product at 5.5% CAGR over the forecast
period
· The glycol ether market is marked by
mergers and acquisitions and strategic joint ventures in global space. For
instance, Sadara Chemical Company, a joint venture between Dow Chemical Company
and Saudi Aramco, was a single phase largest chemical complex which was built
for the production of commercial butyl glycol ether substances, which was later
on refined to produce multiple specialty chemicals.
Grand View Research has segmented the
global glycol ether market on the basis of product, application, and region.
Glycol Ether Product Outlook (Volume,
Kilotons; Revenue, USD Million, 2014 - 2025)
·
E-Series
·
P-Series
Glycol Ether Application Outlook (Volume, Kilotons;
Revenue, USD Million, 2014 - 2025)
·
Paints & Coatings
·
Printing
·
Pharmaceuticals
·
Cosmetics & Personal Care
·
Electronics
·
Others
Glycol Ether Regional Outlook (Volume,
Kilotons; Revenue, USD Million; 2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle East & Africa
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
