Glycol Ethers Market - Growth, Trends, and Forecast (2019 - 2024)

SKU ID : INH- 13517516

Publishing Date : 01-May-2019

No. of pages : 105

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  • Market Overview

    The market for Glycol Ethers is expected to grow at a CAGR of around 5.6% during the forecast period of 2019 – 2024. The major factors driving the growth of market studied are increasing use in cosmetics and personal care products, and accelerating demand in paints & coatings industry. On the flipside, REACH & EPA regulations regarding use of glycol ethers, and emergence of new products, like cellulosic ethanol, to use as a solvent for cleaning agents are the restraints hampering growth of the studied market.

    - Paints & coatings segment dominated the market in 2018 and is expected to grow during the forecast period with anticipated robust demand for paints & coatings from the industries, such as construction, automotive, and packaging.
    - The growing awareness leading to excess demand for P-series glycol for low emission oxygenated diesel fuel is likely to provide opportunities for the studied market during the forecast period.
    - Asia-Pacific dominated the market across the globe due to the significant growth in demand and thereby, production in industries, such as paints & coatings, adhesives, and cosmetic & personal care.

    Key Market Trends

    Paints & Coatings Market Segment to Dominate the Market

    - Glycol ether helps in the formation of a proper film during coating cure and acts as an active solvent in resins. It helps in optimizing the evaporation rate of the solvent in a coating. It is also helpful in improving the flow out characteristics of a paint and in eliminating brush marks during painting.
    - Paints & coatings industry stands to be the largest consumer of glycol ethers. Paints & coatings is extensively used in industries, such as construction, automotive, and packaging.
    - Residential & commercial construction has been increasing significantly across the globe, which is further driving the demand for glycol ethers for application in architectural paints & coatings production.
    - Asia-Pacific has been witnessing huge residential and commercial construction projects due to growing housing needs, and noticeable growth opportunities prevailing in the region.
    - In Middle East, the government efforts to develop non-oil industries is leading to investments into industries, such as tourism, hospitality, healthcare, which has further driven the demand and investments into commercial infrastructure.
    - North America has also witnessed noticeable increase in the residential construction and renovation projects in the country since 2018, and steady economic recovery in Europe has triggered the construction activities in the region.
    - Besides in global automotive industry, though production declined in 2018 by 1.1%, factors such as increasing investments into the sector to increase production, continuous efforts of the automakers to develop and launch new cars, and efforts towards development & promotion of electric vehicles of the industry are likely to drive the growth of automotive industry.
    - Hence, all such trends are likely to increase demand and production in paints & coatings market, which is further anticipated to drive the demand for raw materials, like glycol ethers.

    Asia-Pacific Region to Dominate the Market

    - Asia-Pacific region dominated the global market share in 2018. The demand for products, such as paints, coatings, and adhesives have been increasing from the end-user industries, such as automotive, construction, electronics, and packaging.
    - Countries, such as India, China, Philippines, Vietnam, and Indonesia have numerous construction projects and investments planned, which is expected to increase the demand for architectural paints, coatings, and adhesives.
    - Countries, such as India, Thailand, Vietnam, Pakistan, and Malaysia have recorded noticeable growth in automotive production. China, the world’s largest automotive producer, has plans to increase the production of electric vehicles (EVs) to 2 million a year by 2020, and 7 million a year by 2025.
    - Besides, in cosmetic & personal care industry, the demand is increasing at a noticeable rate in the region, with the influence of western culture, increased cosmetic demand from youth population. With this, the market players in this market are increasing investments and production, which is further driving the demand for raw materials, including glycol ethers.
    - Pharmaceutical industry in India, South Korea, and ASEAN countries, is further witnessing huge investments from foreign country in order to exploit the market opportunities, which is projected to increase the demand for glycol ethers in the region during the forecast period.
    - Hence, all such favorable market trends are likely to drive the growth of glycol ethers market in Asia-Pacific during the forecast period.

    Competitive Landscape

    The glycol ethers market is a fragmented market, where numerous players holds insignificant share of the market to affect the market dynamics individually. Some of the noticeable players in the market include BASF SE, Eastman Chemicals Company, Royal Dutch Shell, and Dow, amongst others.

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