Global Glyoxal Market is Segmented By Grade (Pharmaceutical Grade, Industrial Grade, Others), By Application (Crosslinking, Intermediate, Others), By End-User (Oil and Gas, Textiles, Leather, Oil and Gas, Paper and Packaging, Others), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030
Glyoxal Market Overview
The global glyoxal market reached USD YY Million in 2021 and is expected to reach USD YY million by 2028, growing at a CAGR of YY% during the forecast period 2021-2028.
Glyoxal with the chemical formula OCHCHO is an organic compound and belongs to a chemical group dialdehyde, with two aldehyde groups. Glyoxal is the smallest dialdehyde and exists as a crystalline solid that's white at low temperatures and yellow as it gets close to melting. The glyoxal vapors are green and since it generates hydrates, which oligomerize, pure glyoxal is rarely obtained.
Bulk glyoxal is manufactured and reported as a 40% solution in water by weight. Glyoxals are employed in various industrial sectors as intermediates and crosslinkers. The glyoxals also find application in biomarkers linked to aging and the onset or progression of various degenerative diseases, including diabetes, atherosclerosis, chronic kidney disease and Alzheimer's. Further Hydrated oligomers of glyoxal are employed as a precursor to various items.
The Laporte process or gas-phase oxidation of ethylene glycol in the presence of a silver or copper catalyst and the liquid-phase oxidation of acetaldehyde with nitric acid are the most common production techniques utilized to manufacture commercial glyoxal. BASF SE's plant in Ludwigshafen, Germany, is the single largest commercial production source of glyoxal, producing roughly 60,000 tons per year. Similar manufacturing facilities are present across U.S. and China.
Source: DataM Intelligence Analysis (2022)
Global Glyoxal Market Dynamics
The growing demand for packaged food and packaging products employed to contain these food products acts are a major driver for the global glyoxal market. However, health problems associated with the inhalation of glyoxals limit its production and act as a market restraint.
Growing demand for food-grade packing products
The popularity of packaged food is growing day by day and its demand in the market is skyrocketing. For instance, as per the data, the global import value of prepared foods obtained from unroasted cereal flakes or mixtures of unroasted cereal flakes and roasted cereal flakes or swelled cereals rose from 938,699 tons in 2018 to 934,169 tons in 2019. The respective value increased to 956,624 tons by 2020.
As the demand for packaged food rises exponentially, the requirement for safe and economical packaging products that could be employed to deliver them to the consumer while maintaining the food quality also tends to increase. Since the Federal Institute for Risk Assessment (BfR) in Germany and the Food and Drug Administration (FDA) in U.S. both identify glyoxal as an approved chemical compound for manufacturing paper for food packaging, the growing demand for packed food and the associated demand for food packaging products is expected to boost the demand for glyoxals. The witnessed growth in demand tends to boost the production and sales of the respective products, thereby acting as a major market driver for the global glyoxals market.
Health problems associated with the production
Though glyoxals are identified as safe ingredients for applications in the manufacture of food packaging products and don't tend to directly impact the food products or health of the consumers of such food products, the manufacturing of glyoxals is a different scenario. As per European Commission Health & Consumer Protection Directorate-General, glyoxals in pure form have acute respiratory and oral toxicity. The respective fact means that if the product is inhaled or taken orally directly by accident, it could cause stomach irritation and renal damage, as well as respiratory tract irritation through aerosol inhalation.
As the respective products have toxic implications on the worker's health and welfare, stringent regulations are enacted by governments and regulatory bodies to abide by during the production process. Since such regulations tend to increase the cost of production in terms of investments as special safety harnesses, the final product price tends to be higher than products without any health safety implications. Further, since the laws associated with worker's safety are complex and require proper enactment and close observation, many new entrants in the market tend to stay away from such sectors where these laws are concerned.
Since the health problems associated with glyoxals tend to limit the manufacturers into the market along with rising the complexity of manufacturing the respective product, the respective factor could be considered a major market restraint that affects the market prospects of the global glyoxals market.
COVID-19 Impact Analysis
Because of the following aspects, COVID-19 had a negative influence on the global glyoxals market:
- The lack of raw materials, skilled workers and production disruptions in the manufacturing process, which have been hampered by industry lockdowns and a demand for social isolation, have hampered the production of glyoxals.
- The lockdown in response to the COVID-19 outbreak hampered the supply of finished items, causing significant disruptions in the market's supply-demand dynamics.
Despite disruptions in the glyoxals market's production process as well as the supply chain of raw materials and finished products, the market is expected to boom in the post-COVID-19 era owing to increasing demand for packed food and food packaging products along with the growth of plastic, paper and leather industries as glyoxals as crosslinkers and intermediates in these respective industries.
Segment Analysis
The global glyoxal market is classified on the basis of grade, application, end-user and region.
The global growth in the oil and gas and packaging sector boosts the demand for crosslinkers and intermediates such as glyoxal.
Based on end-user, the global glyoxal market is segmented into textiles, leather, oil and gas, paper and packaging and others. The end-user segment of the global glyoxal market is dominated by the oil and gas sector.
In terms of demand, the oil and gas industry is expected to account for most of the glyoxal market. Glyoxal functions as a crosslinker, causing the fracturing fluid's viscosity to increase and releasing oil. As a result, it's mostly employed for oil extraction. Glyoxal demand is expected to rise as demand for oil and gas rises globally. Because of its moisture retention properties, glyoxal has a moderate demand in the paper packaging business.
Packaged foods are in high demand because they are portion-controlled, time-saving and come in convenient packaging that may be frozen or defrosted. Increased technological advancements in the packaging business are predicted to broaden the spectrum of food product applicability, including frozen, chilled, shelf-stable, microwaveable and ready-to-eat mixes.
Source: DataM Intelligence Analysis (2022)
Geographical Analysis
The growth of various end-user verticles in the region allows the Asia-Pacific to dominate the respective market.
The Asia-Pacific is expected to dominate the glyoxal market during the forecast period. The presence of industrial and urbanization in the region is primarily responsible for this rise. Furthermore, the rising domestic demand for textiles and chemicals due to the growing population is propelling the industry forward. For instance, According to IBEF, Indian fabric production in the fiscal year 2019 was roughly 70.04 million square meters and it was 63.34 million square meters in the fiscal year 2020 through January.
Further, according to Coatings World, Asia-Pacific currently leads the global paints and coatings market, followed by Europe in recent years. Asia-Pacific alone accounts for more than 40% of the global coatings market. China is a major player in the leather manufacturing business globally. Glyoxal intermediates aid in the preservation of the leather quality. In recent months, there has been an upsurge in demand for high-quality leather products in the country. The market for glyoxal in the region is predicted to grow due to the increased use of intermediates and crosslinkers, paints and coatings and textiles.
Furthermore, rising exports, a growing middle-class population, government initiatives to support industrial growth and the availability of raw materials contribute to the growth of the chemical, textile and paper industries, which are responsible for this region's high glyoxal market growth. The respective region's glyoxal market is also likely to be driven by rising demand for paper packaging and tissue goods in China and India.
Source: DataM Intelligence Analysis (2022)
Competitive Landscape
The global glyoxal market is quite active and dynamic in terms of the number and strength of global and local competitors. Some of the main market players are BASF SE, INEOS AG, Eastman Chemical Company, Huntsman Global LLC, Evonik Industries AG, LG Chem, LyondellBasell Industries Holdings B.V., SABIC, Dow and Merck KGaA. To achieve competitive advantages and recognition in their particular markets, significant market stakeholders use market techniques such as mergers, acquisitions, product launches, contributions and collaborations.
BASF SE
Overview: BASF SE is a global chemical business that manufactures chemicals for a variety of sectors. It is one of the largest publicly traded firms globally, having over 700,000 stockholders. The company's product line is divided into 13 categories: transportation, chemicals, construction, electronics & electric, energy & resources, furniture & wood, home care and cleaning, agriculture, and other industries. BASF SE has 6 global locations and 241 additional industrial sites spread across more than 90 countries. BASF Group generated around USD 68,625.85 million in the year 2020.
Product Portfolio:
- Glyoxal: Glyoxal has been an essential component in chemical applications since its discovery in 1856. BASF has over 60 years of research and development experience with glyoxal and has created a glyoxal-based product. Glyoxal can be employed in various applications due to its various characteristics. Currently, the company explores diverse novel uses by working closely with various industry leaders and consumers.
Why Purchase the Report?
- To visualize the global glyoxal market segmentation by grade, application, end-user and region, as well as understand key commercial assets and players.
- Identify commercial opportunities in the global glyoxal market by analyzing trends and co-development.
- Excel data sheet with numerous data points of glyoxal market-level with four segments.
- PDF report consisting of cogently put together market analysis after exhaustive qualitative interviews and in-depth market study.
- Product mapping available as excel consisting of key products of all the major market players
The global glyoxal market report would provide approximately 61 tables, 59 figures and almost 180 pages.
Target Audience
- Glyoxal Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
- Logistics companies
- Distributors/ Suppliers
