Insights on the Glycol Ethers Global Market to 2026 – Featuring BASF, Eastman Chemical and Sasol Among Others – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Glycol Ethers Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” report has been added to ResearchAndMarkets.com’s offering.
The market for glycol ethers is expected to register a CAGR of more than 5.5%, during the forecast period.
Companies Mentioned
- BASF SE
- Eastman Chemical Company
- FBC Chemical Corp.
- Ineos Group Limited
- KH Neochem Co. Ltd
- LyondellBasell Industries NV
- Nippon Nyukazai Co. Ltd
- Oxiteno
- Recochem, Inc. (H.I.G. Capital)
- Royal Dutch Shell PLC
- Sasol Limited
- Dow
- India Glycols Ltd
Key Market Trends
Paints and Coatings Segment to Dominate the Market
- Glycol ether helps in the formation of a proper film during coating cure and acts as an active solvent in resins. It helps in optimizing the evaporation rate of the solvent in a coating. It is also helpful in improving the flow out characteristics of the paint, and in eliminating brush marks during painting.
- The paints and coatings industry is the largest consumer of glycol ethers. Paints and coatings are extensively used in various industries, such as construction, automotive, and packaging.
- Residential and commercial construction has been increasing significantly across the world, which is driving the demand for glycol ethers, for their application in the production of architectural paints and coatings.
- According to the World Bank, the construction industry expenditure in 2020 is likely to witness a growth of about 4.2% from 2019. This, in turn, is likely to increase the demand for glycol ether over the forecast period.
- Asia-Pacific has been witnessing a growth of residential and commercial construction projects, due to growing housing needs, and noticeable growth opportunities prevailing in the region.
- In the Middle East, the government’s efforts to develop non-oil industries are leading to investments in industries, such as tourism, hospitality, healthcare, further driving the demand for, and investments in the commercial infrastructure.
- North America also witnessed a noticeable increase in residential construction and renovation projects in the country. Steady economic recovery in Europe has triggered the construction activities in the region.
- Additionally, in the global automotive industry, though production declined in 2018 by 1.1%, factors, such as increasing investments in the sector to increase production, continuous efforts of automakers to develop and launch new cars, and efforts toward development and promotion of electric vehicles of the industry, are likely to drive the growth of the automotive industry.
- Hence, the aforementioned trends are likely to increase the demand and production in the paints and coatings market, which may further drive the demand for raw materials, like glycol ethers.
Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region dominated the market share. The demand for products, such as paints, coatings, and adhesives, has been increasing from the end-user industries, such as automotive, construction, electronics, and packaging.
- Countries, such as India, China, the Philippines, Vietnam, and Indonesia, have numerous construction projects and investments planned, which may increase the demand for architectural paints, coatings, and adhesives.
- Countries, such as India, Thailand, Vietnam, Pakistan, and Malaysia, have recorded noticeable growth in automotive production. China, the world’s largest automotive producer, has plans to increase the production of electric vehicles (EVs) to 2 million a year, by 2020, and 7 million a year by 2025.
- Furthermore, in the cosmetics and personal care industry, the demand is increasing at a noticeable rate in the region, owing to the influence of western culture and increased cosmetic demand from the youth population. With this, the market players are increasing investments and production, thereby driving the demand for raw materials, including glycol ethers.
- The pharmaceutical industry in India, South Korea, and ASEAN countries are witnessing huge investments from foreign countries, in order to exploit the market opportunities, which may increase the demand for glycol ethers in the region, during the forecast period.
- Hence, such favorable market trends are likely to drive the growth of the glycol ethers market in the region, during the forecast period.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Increasing Use in Cosmetics and Personal Care Products
4.1.2 Accelerating Use in Paints and Coatings Industry
4.2 Restraints
4.2.1 REACH and EPA Regulations Regarding Glycol Ether Use
4.2.2 Emergence of New Products, like Cellulosic Ethanol, to Use as a Solvent for Cleaning Agents
4.3 Industry Value Chain Analysis
4.4 Porter’s Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Type
5.2 Application
5.3 End-user Industry
5.4 Geography
6 COMPETITIVE LANDSCAPE
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growing Awareness Leading to Excess Demand for P-series Glycol for Low Emission Oxygenated Diesel Fuel
For more information about this report visit https://www.researchandmarkets.com/r/h2ujdg.
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