The global glycol ether market size is expected to reach around USD 7.5 billion by 2027, and market is projected to register a CAGR of 5.7% during the forecast period 2020 to 2027.
Steady rise in demand for paints and coatings across developing countries is expected to drive the market.
Glycol ethers are unique products that combine the attributes of both alcohols and non-bases. The rise in demand for specialty chemicals has led manufacturers to engage in product innovation to develop offerings that perform the role of solvent along with being miscible in water. Although glycol ethers are obtained from crude oil derivatives, their lower carbon footprint has boosted popularity among application segments.
High demand for water-soluble active ingredients across end-use industries, such as printing and personal care industries is expected to boost market growth. Increasing consumption of water-based coatings that comprise of glycol ether as a coalescing agent has been the major reason for growth across printing and personal care sectors.
The waterborne coating market has witnessed substantial growth in the past few years due regulatory policies favoring the use of environment-friendly coating in the architectural and industrial sectors. Demand from other end-use sectors, such as woodworking, aerospace and defense, and marine shall further augment the demand in the medium-term.
U.S. is a significant part of the paints and coatings industry, with the country employing around 278,000 people in 2017. The paints and coatings industry in U.S. is worth nearly USD 30 billion, wherein nearly 1,000 companies are competing for greater market share. Although U.S. is expected to remain the largest market in North America, the toxicological studies reflecting on human health hazard caused by lower molecular weight glycol ethers shall play a vital role in future developments. The product usage is now restricted in consumer goods due to strict regulations from associations such as European Union (EU) and the U.S. Food and Drug Administration (FDA) across Europe and North America, respectively.
Propylene Glycol Ether Acetates (PGEAs) are industrial solvents used for manufacturing paints, coatings, inks, and cleaners. These products have found widespread acceptance as solvents for new product development and reformulations in various end-uses. One such example would be that of P-series PMA-Electronic, which has replaced ethylene acrylates in photoresist formulations that find application in the semiconductor industry. It can also be used as a solvent for removing solder flux and degreasing and cleaning of circuit boards.
The REACH regulations concerning the toxic nature of ethylene oxide-based derivatives, have a constraining effect on the industry. This has led to manufacturers focusing on propylene oxide as a starting material. Volatility in raw materials and utilities severely constrain profitability of manufacturers, and consequently act as a negative stimulus on the global pricing scenario.
High foreign investment inflows into Asian markets have propelled the regional chemicals industry, providing impetus for glycol ether manufacturers to improve their capabilities. Asia Pacific is the largest consumer - accounting for nearly 50% of the global demand in 2017-and the fastest growing market, with majority of the demand trickling down to key end-uses, such as pharmaceuticals, personal care and cosmetics, and paints and coatings.
Paints and coatings application led the global market, with nearly 800 kilo tons being consumed in the production of architectural and automotive coatings and allied paint categories. In the post-recession era, internal rate of returns in the paints and coatings sector increased from 15.4% in 2009 to 25.1% in 2016, showing signs of stable growth with the sector being valued at over USD 130 billion globally. Concurrent to this trend, glycol ethers are expected to gain tremendous traction over the forecast period.
Glycol ethers product family is made up of more than 30 different types of solvents which can be categorized into two major groups, namely, E-series and P-series, depending upon the starting material used (ethylene or propylene). E-series comprises of ethylene glycol butyl ether, ethylene glycol propyl ether, and ethylene glycol butyl ether acetate as key products are used extensively as they have a strong compatibility with diverse organic solvents and water. They also have low volatility and strong solvent properties which diversifies their applications in cosmetics, pharmaceuticals, electronics, personal care and many more.
The demand for P-series is higher than the counterpart as they are preferred for their lower toxicity level. Propylene glycol butyl ether, whose demand exceeded 400 kilo tons globally, held the largest market share in 2017. It is majorly used in products that are used in treating metal and non-metal surfaces, laboratory products, and in water treatment formulation. Methyl ether acetate is used extensively in inks and coating applications, with its major formulators including DowDuPont and Shell Chemicals.
Glycol ethers and acetates are used to improve the flow and leveling characteristics of paints and to lengthen the wet edge, which provide for smoother lapping while eliminating brush marks. Recent uptick in construction starts across the world and positive infrastructure investment scenario has uplifted the demand for glycol ethers in paints. With promising outlook on automotive production and construction starts, demand for architectural and industrial coatings is projected to rise, further giving impetus for the glycol ethers market over the forecast period.
In the printing industry, multiple substances such as hydrocarbons, alcohols, acetates, and ketones are used as the major solvent. Glycol ether is highly preferred as a tailing solvent that controls evaporation rates. Propylene methyl and Di-propylene methyl acetates are the major compounds used in silkscreen inks.
Whereas in cosmetic formulations, glycol ether is an effective mutual solvent which can also be used as a low-cost replacement for fatty acid isopropyl esters. The compound currently finds use in some personal care products as a preservative and may be used at levels up to an overall concentration of 1.0% by volume.
Steady growth outlook across end-use industries in North America, partly creditable to the signing of a renewed trilateral treaty, USMCA, shall be a key factor while assessing future opportunities for glycol ethers in the region. While U.S. and Canada exhibit the characteristics of a highly advanced industrial landscape governed by the policies of regulatory agencies; Mexico is touted as an emerging manufacturing hub. Currently accounting for 20% of the global consumption levels, North America is projected to register a CAGR of 3.9% in terms of volume until 2027.
Europe, which accounted for 28% of the global consumption in 2017, is one of the largest markets for cosmetics and personal care products. Fluctuating seasonal demand is expected to impede growth in the short-term across the region. However, with supply levels expected to recover and multinationals demanding for high-quality glycol ethers, demand augmentation is plausible over the long-term, with a projected CAGR of 4.9% until 2027.
Glycol Ethers Market Share Insights
Presence of numerous manufacturers reasons for intensive competition amongst companies. The market is characterized by multinationals dominating the marketspace, while regional companies vying to excel in terms of product innovation and implementation of next-gen technologies across the operational sphere. Key companies with global presence include BASF, LyondellBasell, Eastman, and DowDuPont.
The presence of a broad product portfolio that caters to a number of end-use industries has led to these companies cementing their top position in the market. One of the critical aspects covered by these multinationals apart from product innovation is strong market positing of their products to capture a wider potential customer base.
Product Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
E-series Glycol Ether
Ethylene Glycol Propyl Ether
Ethylene Glycol Butyl Ether Acetate
Methyl Ether Acetate
Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
Paints & Coatings
Cosmetics & Personal Care
Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
Central & South America
Middle East & Africa
The Glycol Ether market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Glycol Ether market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Glycol Ether market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Glycol Ether market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Glycol Ether market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Glycol Ether capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Glycol Ether by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Glycol Ether market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Glycol Ether market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Glycol Ether market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Glycol Ether industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Glycol Ether market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Glycol Ether market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Glycol Ether market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Glycol Ether market. These factors have benefited the growth of the global market for Glycol Ether. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Glycol Ether. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Glycol Ether are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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