Glycol Ethers Market Share, Size, Global Industry Analysis, Key Growth Drivers Trends, Segments, Opportunity and Forecast 2029

The global glycol ethers market size is likely to witness healthy growth owing to rapid industrialization and constructional activities. Fortune Business Insights, in its latest report, titled "Glycol Ethers Market Size, Share & Industry Analysis, By Type (E-series glycol ethers, P-series glycol ethers), By Application (Paints & Coatings, Cleaners, Pharmaceutical, Cosmetics & Personal Care, Inks & Dyes, Adhesives, Others) Others and Regional Forecast, 2022-2029.", predicts huge growth opportunities for the market during the forecast period.

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Glycol ethers are primarily a group of solvents derived from alkyl ethers that have been used since the 1960s in several industrial, household, and personal products. They are either ethylene glycol or propylene glycol that can be commonly found in materials such as paints, and cleaners. Furthermore, glycol ethers have a high boiling point and are characterized into two types; the e-series and p-series. The p-series glycol ethers are extensively used in cleaners, adhesives, aerosol paints, and other materials. The e-series, on the other hand, are commonly found in cosmetics, sunscreens, pharmaceuticals, and dyes. Moreover, glycol ethers are used as solvents owing to their water-soluble properties to manufacture several materials such as resins, varnishes, gum, perfumes, and as a constituent for majority cleaning compounds.

What does the Report Include?

The market report includes a detailed evaluation of several aspects such as the drivers, restraints, challenges, and the opportunities that the market may witness during the forecast period. In addition to this, the regional analysis has been discussed that provides information on the growth for the market across several regions that are helping the market to expand. Furthermore, the competitive landscape includes market developments by the key players that will contribute to the growth of the market during the projected horizon. Moreover, the market report includes in-depth information on the adoption of strategies such as merger and acquisition, product development, collaborations, partnerships, and others by the companies operating in the market between 2019 and 2029.

Drivers and Restraints:

Rising Cosmetics Industry to Propel the Market

In 2020, the ongoing global pandemic, COVID-19, has resulted in drastic impact on the world in several ways. Additionally, it has highly influenced consumer behavior by shaping the buying and spending habits largely. Furthermore, the cosmetics industry is witnessing increasing demand for reliable products owing to the ongoing effects of the virus across the globe. For instance, Clare Hennigan, a senior beauty analyst at Mintel, says, "COVID-19 has largely impacted the consumers approach towards beauty and personal care products as they are now consider safety, cleanliness, and long shelf-life of the ingredients." Moreover, beauty products that are considered safe and preventative is anticipated to witness surge in demand amid the pandemic that will have long-lasting effect on the growth of cosmetics in the near future.

According to the market report, several companies operating in the market are expanding their product offerings to gain major glycol ethers market revenue during the projected horizon. Adoption of strategies such as merger and acquisition, product launches, and partnerships by the companies to maintain market stronghold will bode well for the growth of the market in the forthcoming years. Furthermore, the companies that manufacture glycol ethers and other solvents are introducing several new products ranging from bio-based to synthetic and from solvents to different surfactants. Moreover, they are trying to produce cost-efficient, robust, and eco-friendly products. For instance, a leading additives manufacturer, in April 2020, announced its launch of a new portfolio of additives to make formulation work easier. Moreover, the company states that the new additives are cost-effective and offer good dispersibility and reduction in viscosity levels with improved color acceptance.

Regional Analysis:

Increasing Construction Activities in Asia-Pacific to Boost Demand

Among the regions, the market in Asia-Pacific is expected to lead during the forecast periods. This is ascribable to factors such as rising industrial sector and increasing construction activities in countries such as India, Indonesia, Vietnam, and the Philippines. Furthermore, increasing demand for personal care products in Asia-Pacific will bode well for the growth of the market during the projected horizon. North America, on the other hand, is likely to witness surge for the market owing to strict regulations on fuel emissions by the government during the forecast period. Europe is expected to rise backed by rising cosmetics industry, and increasing awareness for personal beauty products in the forthcoming years. Overall, in the Middle East and Africa the market will expand owing to increasing demand from paint and coating industry between 2019 and 2026.

List of the Companies Proliferating in the Market:

BASF SE
The Dow Chemical Company
Royal Dutch Shell
LyondellBasell Industries
Ineos Oxide
India Glycols Ltd.
SABIC
Nippon Nyukazai Co., Ltd.
Sasol
FBC Chemicals
KH Neochem Co, Ltd.
Among others
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This release was published on openPR.