Glycol Ethers Market to Garner $11.5 Billion, Globally, By 2030 at 5.9% CAGR, Says Allied Market Research

Increase in application of glycol ethers in paints & coatings and expansion of the pharmaceutical, cosmetic and personal care sectors drive the growth of the global glycol ethers market.

PORTLAND, Ore., Feb. 22, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Glycol Ethers Market by Type (E-series and P-series), Application (Solvent, Anti-icing, Hydraulic and Brake Fluid, and Chemical Intermediates), End Use (Paints & Coatings, Printing, Pharmaceuticals, Cosmetics & Personal Care, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030." According to the report, the global glycol ethers industry was estimated at $6.5 billion in 2020, and is anticipated to hit $11.5 billion by 2030, registering a CAGR of 5.9% from 2021 to 2030.

Drivers, restraints, and opportunities-

Increase in application of glycol ethers in paints & coatings and expansion of the pharmaceutical, cosmetic and personal care sectors drive the growth of the global glycol ethers market. On the other hand, fluctuations in prices of raw materials and negative effect of glycol ethers on health impede the growth to some extent. However, rise in investment for expansion of facilities and innovation toward application of renewable raw materials are expected to create lucrative opportunities in the industry.

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Covid-19 scenario-

• Increase in awareness among people regarding global warming during the outbreak has led to surge in demand for products that are manufactured by using renewable and green resources, impacting the global glycol ethers market negatively.
• Also, the pandemic gave way to partial or complete shutdown of production facilities, which are not related to essential goods. This factor again had a negative impact on the market.

The P-series segment to dominate by 2030-

Based on type, the P-series segment held the major share in 2020, accounting for more than four-fifths of the global glycol ethers market. The same segment would also register the fastest CAGR of 6.2% from 2021 to 2030. Rapid surge in demand for personal care products and increase in awareness among people in regards to healthcare boost the segment growth.

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The paints and coating segment to maintain the dominant share-

Based on end-use, the paints and coating segment contributed to around two-fifths of the global glycol ethers market revenue in 2020, and is projected to lead the trail throughout the forecast period. This is due to rise in application of corrosion inhibitor coatings in metal products used in the automotive, aerospace, and military sectors. However, the pharmaceuticals segment is projected to grow at the fastest CAGR of 6.7% from 2021 to 2030.

Asia-Pacific, followed by Europe and North America, garnered the highest share in 2020-

Based on region, the market across Asia-Pacific, followed by Europe and North America, contributed to the highest share in 2020, accounting for nearly two-fifths of the global glycol ethers market. The same region is also expected to showcase the fastest CAGR of 6.7% during the forecast period. This is because rapid modernization and increase in per capita income have led to huge improvement in lifestyle, which, in turn, increases the demand for glycol ethers in the province.

Key players in the industry-

• Dow Chemical Company
• Chemical Company
• Hannong Chemicals
• BASF SE
• Huntsman Corporation
• INEOS
• India Glycols Limited
• Solvay SA
• FBC Chemical
• Royal Dutch Shell
• Jangsu Yida Chemical
• Kemipex
• KN Neochem
• Henan GP Chemical
• Lyondellbasell
• Nippon Nyukazai
• Oxiteno
• Recochem
• SABIC
• Sasol
• Sadar.

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