Press release
Personal Care And Cosmetic Industry Growth Fuels Glycol Ether Market Expansion: Key Factor Driving The Growth In The Glycol Ethers Market
Glycol Ethers
What Is the Expected Glycol Ethers Market Size During the Forecast Period?
The size of the glycol ethers market has experienced robust growth in the recent past. It will expand from a market worth $7.89 billion in 2024 to $8.55 billion in 2025, indicating a compound annual growth rate (CAGR) of 8.3%. The surge in its historic growth can be credited to sectors such as the painting and coating industry, printing industry, cleaning and household goods, industrial manufacturing, as well as advancements in the chemical industry.
The market size for glycol ethers is projected to experience robust expansion in the following years, with an anticipated valuation of $12.32 billion in 2029, and a compound annual growth rate (CAGR) of 9.6%. Factors driving growth during the projected period include the rise of green cleaning products, the manufacturing of electronics and semiconductors, healthcare and pharmaceuticals, renewable feedstock, and research and development initiatives. The forecast period is also expected to see key trends like the use of low-VOC paints and coatings, advances in digital printing technologies, exploration of renewable feedstock, implementation of safety and health regulations, and development of aerospace coatings.
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What Are the High-Growth Segments in the Glycol Ethers Market?
The glycol ethers market covered in this report is segmented -
1) By Type: E-Series, P-Series
2) By Application: Solvent, Anti-icing, Hydraulic and Brake Fluid, Chemical Intermediates
3) By End User: Paints and Coatings, Printing, Pharmaceuticals, Cosmetics and Personal Care, Adhesives, Other End-Users
Subsegments:
1) By E-Series: Ethylene Glycol Ether Acetates, Ethylene Glycol Ethers
2) By P-Series: Propylene Glycol Ether Acetates, Propylene Glycol Ethers
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What Key Drivers Are Expected to Influence Future Glycol Ethers Market Growth?
The expansion of the glycol ether market is anticipated to be driven by the burgeoning personal care and cosmetic industry. This industry is primarily concerned with the production of beauty and cosmetic goods, wherein glycol ethers are predominantly utilized. They are found in a variety of personal and beauty goods including hair care items, hygiene products, skincare solutions, and bath essentials among others. For example, as per Encouraged Topics, a US-based online publisher, it is projected that by 2025, the beauty industry will surpass $120 billion in revenue. Hence, the growth surge in personal care and cosmetic sectors is fuelling the glycol ether market.
Which Companies Hold the Largest Share Across Different Glycol Ethers Market Segments?
Major companies operating in the glycol ethers market include Dow Chemical Company, HanNong Chemicals Inc., BASF SE, INEOS Group Ltd., India Glycols Limited, Solvay SA, Shell plc, Jiangsu Yida Chemical Co. Ltd., China Petroleum & Chemical Corporation, Huntsman International LLC, Nippon Nyukazai Co. Ltd., Oxiteno LLC, KH Neochem Co. Ltd., Sasol Limited, Eastman Chemical Company, LyondellBasell Industries, Saudi Basic Industries Corporation, CCP Industries, Celanese Corporation, Reliance Industries Limited, Emerald Performance Materials LLC, FBC Chemical Corp, Guangdong Runhua Chemicals Co. Ltd., IGL Coatings, NOF Corporation, PetroChina Company Limited, PCC Rokita SA, UBE Industries Ltd., Wujiang Dongang Chemical Co. Ltd.
What Trends Are Driving Growth in The Glycol Ethers Market?
A salient trend gaining traction in the world of glycol ether market is the formation of strategic partnerships. Top-tier firms in the glycol ethers sector are on a quest for strategic ties in order to consolidate their market placement. For example, in March 2022, the Saudi Arabian Oil Company, commonly known as Aramco, entered into a collaboration with the China Petroleum and Chemical Corporation through its subsidiary, the Saudi Aramco Asia Company Limited. This association is a testament to Aramco and Sinopec's enduring relationship, further strengthening its foothold in the Asian region. The China Petroleum and Chemical Corporation is a renowned firm operating in the energy and chemical sector based in China.
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What Are the Emerging Geographies for The Glycol Ethers Market Growth?
North America was the largest region in the glycol ether market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the glycol ethers market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Glycol Ethers Market?
2. What is the CAGR expected in the Glycol Ethers Market?
3. What Are the Key Innovations Transforming the Glycol Ethers Industry?
4. Which Region Is Leading the Glycol Ethers Market?
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