Glycol Ether Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DM3242 | Last Updated On: May 23 2022 | Available Formats

> Global Glycol Ether Market Expected to reach a high CAGR By 2029: DataM Intelligence

Global Glycol Ether Market is segmented By Type (E-series, P-series), By Application (Paint & Coatings, Automotive, Cleaners, Others), By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Market Overview:

The Global Glycol Ether Market is expected to grow at a CAGR of 5.2% during the forecasting period (2022-2029).

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 both an ether and alcohol within its make-up and is mainly used to dissolve other substances. Rapidly increasing construction activities are expected to augment the growth of the glycol ethers market. Growing product usage in personal care, automotive, cleaners, and paints & coatings due to its excellent chemical and physical properties proliferate the market expansion. Also, an upsurge in water-based coating demand will spur the demand for glycol as it can be used as a coalescing agent in these coatings. This, in turn, propels the product demand from printing inks and personal care industries. Additionally, the waterborne coating market has witnessed considerable growth in the past few years due to strict regulatory policies favoring the use of the environment-friendly coating in the architectural and industrial sectors.

Market Dynamics

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. The global cosmetics business is likely to surpass $450 million by 2025, with gains at over 4.5%. The rise in per-capita disposable income, changes in lifestyle, and increasing demand for skincare products due to varying climatic conditions are key factors expected to boost the industry growth. The rapid rise in the 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 in the product manufacturers focusing on propylene oxide as a starting material. Volatility in raw materials and utilities adversely constrain the profitability of manufacturers and subsequently act as a negative stimulus on the global pricing scenario.

Increasing economic growth of glycol ethers 

The rising economic growth of the 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 cardboard 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.

The rise in consumer consciousness 

Growth in consumer consciousness and changing sociological perceptions towards environment sustainability is likely to boost glycol ether market demand in the automotive sector. In 2018, China accounted for about 30% of global vehicle sales. Rising demand for nontoxic coatings & shifting consumer perceptions towards improved technological changes and vehicle colour coupled with growing automobile business will stimulate the paints and coating business demand.
They are widely used in protection against external environmental factors such as UV radiation and acid rain which will further stimulate market growth.

COVID-19 Impact Analysis

The major applications of glycol ether are in paints & coatings, cleaners, automotive sectors. The coronavirus pandemic has severely hit the automotive sector with declining sales of new automobiles and reduced maintenance activities, thus affecting the demand for glycol ether. Also, the paints & coatings industry has witnessed a brunt due to limited raw material availability and the shutdown of production facilities, further affecting the glycol ether market growth.

Segment Analysis

Based on the type, the glycol ether market has been classified into E-series and P-series.

E-series type segment accounted for the highest market share in the global glycol ether market

E-series comprises ethylene glycol butyl ether, ethylene glycol propyl ether, and ethylene glycol butyl ether acetate as key products which are used extensively owing to their strong compatibility with diverse organic solvents and water. They also possess low volatility and strong solvent properties which diversifies their applications in cosmetics, pharmaceuticals, electronics, personal care and others. Hence, the E-series type segment accounted for the highest market share in the global glycol ether market due to rapid industrialization. This will increase product demand for the coating industry where it improves coatings flow and gloss.

Based on the application, the glycol ether market has been classified into paints & coatings, cleaners, automotive, and others.

The paints & coatings segment dominated the global glycol ether market during the forecast period

Glycol ethers and acetates are used to improve the flow and levelling characteristics of paints and to lengthen the wet edge, which provide for smoother lapping while eliminating brush marks. The recent uptick in construction starts across the world and positive infrastructure investment scenario has uplifted the demand for glycol ethers in paints. Hence, the paints & coatings segment dominates the global glycol ether market during the forecast period.

 

Geographical Analysis

Based on geography, the study analyzes the global glycol ether market, including North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.

Asia-Pacific holds the largest share in the global glycol ether market throughout the forecast period

Asia-Pacific occupies the major share in the global glycol ether market due to the growing industrial and construction activities in developing nations. Other than that, the high demand for personal care products is also growing in the market in this region. The growth in this region is propelled by the growing demand for paints, adhesives, coatings, printing inks, cleaners, and electronics & semiconductors. Some of the key contributors in the region are China, India, and Japan which hold a significant regional market share. The rise in renovation and housing activities offers lucrative opportunities for the paints & coatings market players, which, in turn, boosts the product demand growth in the coming years. Furthermore, favorable government initiatives will augment the residential construction activities in the rural and semi-urban areas further intensifying the product demand. Also, significant e-commerce industry in the region with increasing internet penetration drives the demand for packaging of products, thus augmenting the demand for printing inks, which in turn, drives product consumption.

Competitive Landscape

The glycol ether market is highly competitive, due to the presence of a 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.

The Dow Chemical Company

Overview: The Dow Chemical Company is an American multinational chemical corporation headquartered in Michigan, United States, and a subsidiary of Dow Inc. It manufactures plastics, chemicals, and agricultural products. Dow’s portfolio of plastics, industrial intermediates, coatings and silicones businesses provides a broad range of differentiated science-based products and solutions for its customers. The company operates under the following business segments: Packaging & Specialty Plastics, Industrial Intermediates & Infrastructure, and Performance Materials & Coatings. It has a presence in about 160 countries with 109 production sites and employs around 54,000 people worldwide.

Product Portfolio: The Company’s portfolio comprises plastics, chemicals and agricultural products.

Why Purchase the Report?

  • Visualize the glycol ether Market segmentation composition by type, application, and region, highlighting the critical commercial assets and players.
  • Identify commercial opportunities in the glycol ether market by analyzing trends and co-development deals.
  • Excel data sheet with thousands of data points of glycol ether market - level 2 segmentation.
  • PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
  • Product mapping in excel for the key product of all major market players

The global glycol ether market report would provide access to an approx. 48 market data table, 43 figures, and 180 pages.

Target Audience

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  • Emerging Companies
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