New York, March 29, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Glycol Ethers Global Market Report 2023" - https://www.reportlinker.com/p06311735/?utm_source=GNW
Ltd., Oxiteno, KH Neochem Co. Ltd., and Sasol Limited.
The global glycol ethers market grew from $6.74 billion in 2022 to $7.36 billion in 2023 at a compound annual growth rate (CAGR) of 9.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The glycol ethers market is expected to grow to $9.72 billion in 2027 at a CAGR of 7.2%.
The glycol ether market consists of sales of butyl glycol and butyl di glycol.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The glycol ethers are used as solvents and stabilizers in a variety of personal, household, and industrial products.Glycol ethers are a large group of solvents that are colorless liquids with a higher boiling point, a slight odor, and a lower molecular weight compared to other solvents.
The ether groups would introduce additional sites for hydrogen bonding with improved hydrophilic solubility performance.
North America was the largest region in the glycol ether market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the glycol ether market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of glycol ethers are e-series and p-series.P-series glycol ethers are commonly utilized in degreasers, cleaners, aerosol paints, and adhesives.
These are applicable insolvent, anti-icing, hydraulic and brake fluid, and chemical intermediates, and are used in paints and coatings, printing, pharmaceuticals, cosmetics and personal care, adhesives, and other end-users.
Rapid growth in the personal care and cosmetic industry is expected to propel the growth of the glycol ether market going forward.The personal care and cosmetic industry involve the manufacturing of products related to beauty and cosmetics.
The glycol ethers are majorly used in different personal and cosmetics products, such as hair care products, cleanliness products, skincare products, bath products, and others.For instance, according to Exploding Topics, a US-based internet publishing site, the beauty industry’s revenue is expected to exceed $120 billion by 2025.
Therefore, the rise in growth of the personal care and cosmetic industries drives the glycol ether market.
Strategic partnerships are a key trend gaining popularity in the glycol ether market.Major companies operating in the glycol ethers sector are searching for strategic alliances to help them strengthen their position in the market.
For instance, in March 2022, Saudi Arabian Oil Company (Aramco), through its Saudi Aramco Asia Company Limited (SAAC) subsidiary, a Saudi Arabia-based petroleum and natural gas company, collaborated with China Petroleum and Chemical Corporation.This collaboration reinforces the long-standing relationship with Sinopec and enhances its presence in Asia.
China Petroleum and Chemical Corporation is a China-based energy and chemical company.Further, in October 2021, Dow Chemicals, a US-based company operating in glycol ether solvents, partnered with Haldor Topsoe.
With this partnership, Dow and Topsoe have formed a new cooperative to efficiently transform waste plastics into circular plastics, keeping them out of the environment and returning their value sustainably. Haldor Topsoe is a Denmark-based company specializing in carbon reduction technologies.
In January 2020, Indorama Ventures, a Thailand-based producer of intermediate petrochemicals, acquired Huntsman’s chemical intermediate and surfactant business for an amount of $2.1 billion. This acquisition would enhance Indorama’s higher-margin integrated oxides and derivatives and specialty chemicals segments. Huntsman Corporation is a US-based manufacturer of chemical products, including glycol ethers.
The countries covered in the glycol ether market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The Glycol Ethers Market Research Report is one of a series of new reports that provides glycol ethers market statistics, including glycol ethers industry global market size, regional shares, competitors with a glycol ethers market share, detailed glycol ethers market segments, market trends and opportunities, and any further data you may need to thrive in the glycol ethers industry. This glycol ethers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06311735/?utm_source=GNW
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