Glycol Ether Market to Exceed US$ 10.09 Bn by 2024 End

In a recently published market research report titled “Glycol Ether Market: Global Industry Analysis and Forecast, 2016–2024,” a Persistence Market Research analyst concludes, “The US$ 6 Bn glycol ether market is slated to exceed a value of US$ 10 Bn by the end of 2024, expanding at a CAGR of over 6%. Volume-wise, the market will witness a moderate CAGR of 5.4% over the eight-year period. Asia Pacific and Europe will remain the key markets.”

By the end of 2024, the global market for glycol ether is expected to reach US$ 10.09 Bn. Overall growth outlook remains positive; the report elaborates on various influential factors associated with historic, current, and futuristic market status.

Key Driver Insights

Growing consumption by various end-use industries will remain the primary factors driving the sales of glycol ether. Rising introduction of new variant products with the help of a wide variety of eco-friendly and renewable technologies will be another key driver to market growth. Development of innovative, cost-effective products is anticipated to further boost the market for glycol ether.

PCE is widely used in degreasing and dry cleaning but is not eco-friendly and is hazardous to human health. Some forms of glycol ether on the market are identified to be the relatively decent alternatives to PCE, eventually fueling their demand in the market over the next few years.

Request to sample report https://www.persistencemarketresearch.com/samples/4429

Key Trend & Opportunity Insights

Several governments are increasingly promoting the use of P-series glycol ethers over the use of E-series glycol ethers. This trend is likely to present new opportunities for leading players. In addition to paints, coatings & adhesives, cleaners, printing inks, and cosmetic sectors are also registering significant consumption of glycol ethers.

Flourishing cleaners, printing inks and electronics & semiconductor sectors will also continue to bring in new growth opportunities. Moreover, as manufacturing and healthcare industries continue to thrive at pace, the demand for cleaning chemicals will also remain on the rise through 2024. Manufacturers are likely to capitalize over such end-use opportunities in near future.

Key Segment Insights

By product type, E-series glycol ether segment will witness a decline by 470 BPS over 2016-2024. P-series glycol ether segment will however exhibit significant growth, accounting for a whopping 71.6% revenue share in 2024.

Based on application, paints, coatings & adhesives segment will remain dominant throughout the forecast period, capturing a value share of over 53% by 2024 end. With a gain of over 100 BPS, cleaners will represent the second largest segment, reaching beyond US$ 1.8 Bn in 2024. Other application segments are likely to witness a drop in terms of BPS.

Regional Insights

By region, APAC will retain the leading regional market position and expand at the fastest CAGR of 9.9% over the forecast period. Accounting for over 40% share of the market value in 2024, this segment will experience a massive boost in BPS. This growth is attributed to substantial consumption by paints and printing ink sectors within this region, especially by water-based flexo inks manufacturing companies. Europe, despite a slight decline over the assessment period, will remain the second largest market for glycol ether.

Key Vendor Insights

The Persistence Market Research report profiles some of the top companies competing in the global glycol ether marketplace. A few of the key players are The Dow Chemical Company, BASF SE, LyondellBasell Industries Holdings B.V., Royal Dutch Shell plc., Eastman Chemical Company, Sasol Limited, HANNONG CHEMICALS INC., Dynamic International Enterprises Limited, and Jiangsu Ruijia Chemistry Co., Ltd.

Request Report for TOC @ https://www.persistencemarketresearch.com/market-research/glycol-ethers-market/toc

A few prominent trends among leading manufacturers include increased focus on P-series glycol ethers production. Companies are also seeking inorganic expansion. Through vertical or horizontal expansions and acquisitions, a majority manufacturers are aspiring strong partnerships and long-term contracts with raw material distributors.

About Us
Persistence Market Research (PMR) is a U.S.-based full-service market intelligence firm specializing in syndicated re-search, custom research, and consulting services. PMR boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Con-sumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients’ business needs.

Contact
Persistence Market Research Pvt. Ltd
305 Broadway
7th Floor, New York City,
NY 10007, United States,
USA – Canada Toll Free: 800-961-0353
Email: sales@persistencemarketresearch.com

This release was published on openPR.