Glyoxal Market Size, Top Global Key Players Analysis till 2023- BASF SE, Zhonglan Industry Co. Ltd, Amzole India Private Ltd.

Market Overview:

Glyoxal is known for its cross linking abilities. Additionally, this application includes usage as a cross-linking agent linked with cellulose in order to avoid cellulosic swelling. The other characteristic of this compound is owing to its low moisture retention. With these reasons, glyoxal is used in various industries including oil & gas, paper packaging, leather, textiles, cosmetics, furniture.

Some of the prominent factors that increase the growth of glyoxal market are rapid industrialization, rising middle class population and their spending, and construction industry. Rapid urbanization and increasing construction activities in order to house the expanding population are predicted to increase the market for glyoxal in the forecast period. Moreover, rising middle class population and their spending to enhance their standards of living is likely to propel the market in the forecast period.

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Major Key Players:
The Major Players operating in the Glyoxal Market are:

• BASF SE (Germany),
• Silver Fern Chemical Inc. (The U.S.),
• Eastman Chemical Company (The U.S.),
• The Dow Chemical Company (The U.S.),
• Huntsman Corporation (The U.S.),
• Formosa Plastics Corporation (Taiwan),
• Royal Dutch Shell plc (The Netherlands),
• Amzole India Private Limited (India),
• Hubei Hongyuan Pharmaceutical Technology Co., Ltd (China),
• Zhonglan Industry Co., Ltd (China)

Market Segmentation:
The Global Glyoxal Market is categorized on the basis of Application, End Use:

On The Basis Of Application:
• Paper,
• Cross-Linking Polymer,
• Sulfur Scavenger,
• Wood Hardening
On The Basis Of End Use:
• Oil & Gas,
• Paper Packaging,
• Leather,
• Textiles,
• Cosmetics,
• Furniture

Regional Analysis:
Geographically, Glyoxal Market is segmented across Five Regions in the world namely:

• Asia Pacific,
• North America,
• Europe,
• Latin America,
• Middle East & Africa.

Asia Pacific is the largest market accounted for glyoxal production. Rapid growth in the usage of cross-linking polymers in the textile industry is anticipated to drive the market growth.
Increasing oil consumption in North America has consequently opened up the market and it is anticipated to increase in the forecast peiod for secondary petroleum products such as glyoxal where this compound is used as a sulfur scavenging agent in the oil & gas industry. After the recent shale gas recovery, the import of raw materials is likely to reduce over the forecast period.

In the Middle East region, nations like the U.A.E, and Saudi Arabia has situated themselves as a travel and tourism industry focus. Also, there are new proposed developments extends in the forecast period. It is foreseen that as there is developing interest for glyoxal in this area, setting up new capacities in the forecast period will guarantee development of glyoxal market in this region. After the 2009 recession crisis, Latin American countries are picking up the market trend slowly. As a consequence of the crisis, domestic prices continue to rise in this region. People will be looking for economic stability and also consumer spending is least expected in the forecast period.

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