H1 2023: The largest consumer of Glycol Ether in H1 2023 was the Asia Pacific region. In the first half of 2023, the price trend of glycol ether in the Asian region revealed mixed feelings. India's prices decreased from mid- February 2023 due to lowering of the upstream costs and slow offtake from downstream sectors. In contrast, South Korea maintained stable pricing. But in March 2023, there were swings in the pricing trend. Prices in India increased due to low production rates, more quotes from local suppliers, and strong demand from paint manufacturers. Prices increased in May 2023 in China as a result of higher trade activity n China ahead of the Labor Day holidays. Following that, the market saw a fall in prices after May 2023 as a result of improved product availability and hazy paint and coating industry offtakes brought on by a decline in building sector consumption rates in China and India. Orders for Glycol Ether, meanwhile, were not very high by the downstream sectors in the Indian market in June 2023. The decrease in orders from downstream paint sectors caused the prices to drop in the South Korean market. In April 2023, Glycol ether prices climbed in India as a result of strong demand from paint & coatings sectors, while they fell in Southeast Asia as a result of stable supply.
The global Glycol Ether market stood at approximately 4700 thousand tonnes in 2022 and is anticipated to grow at a CAGR of 5.4% during the forecast period until 2032.
The main functional groups of ether and alcohol, which make up glycol ether. Given their great solubility in water and other organic liquids, glycol ether is considered as adaptable solvents for a range of industrial and household applications. Conventionally, ethylene oxide or propylene oxide is created by catalytically reacting it with alcohols such as butanol or ethanol in an isothermal and adiabatic process to make glycol ethers. Glycol ether is mostly consumed as a solvent in many other compositions, including paints, inks, and cleaning solutions. It is utilized in brake fluids, chemical intermediates, and anti-icing agents in addition to solvent uses. Glycol ether is used as a solvent in the production of many personal care products due to its high boiling point and exceptional solvent properties.
The paint and coatings industry's widespread use of glycol ethers is the main cause of the market's expansion. Glycol ether usage is rising due to rising urbanization and construction activity, which is driving up paint and coating demand and propelling the market's growth throughout the forecast period. A recent global upsurge in building starts and a favorable environment for infrastructure investment have increased demand for glycol ethers in paints. Glycol ethers are predicted to be increasingly adopted during the forecast period as demand for architectural and industrial coatings is anticipated to rise as the outlook for automotive production and construction activities hike in the future. Additionally, glycol ethers are used in a variety of personal care items, including sunscreens and cosmetics. Also, since the personal care products are so widely used, there is a significant need for glycol ether as a basic ingredient. Over the projected term, this is anticipated to fuel industry expansion. The global Glycol Ether market is anticipated to reach nearly 7700 thousand tonnes by 2032.
Asia Pacific was the major consumer of the global market for Glycol Ether in 2022. In terms of global glycol ethers market share, Asia-Pacific leads. The existence of densely populated nations in this region of the world has increased demand for a wide range of goods. Furthermore, quick industrialization and rising per capita income improved living standards, which increased the need for glycol ether in the personal care sector. The demand for cosmetics and personal care products is rising noticeably in the region due to the influence of western culture and rising youth demand for cosmetics. As a result, the market's participants are raising their production and investment levels, which is fueling the need for raw materials like glycol ethers. Furthermore, the demand for architectural paints, varnishes, and adhesives may rise in response to an increase in investments made in building projects in countries like India and China are also contributing to market expansion.
Based on Type, the Glycol Ether market is divided into E-series and P-series. based on the initial substance (ethylene or propylene) that is used. Since they work well with a variety of organic solvents and water, the main products in the E-series—ethylene glycol butyl ether, ethylene glycol propyl ether, and ethylene glycol butyl ether acetate—are used widely. Additionally, their strong solvent characteristics and low volatility broaden their applications in a variety of industries, including electronics, cosmetics, pharmaceuticals, personal care, and many more. P-series are more in demand than their counterparts because of their lower level of toxicity.
Based on the end-user industry, the global Glycol Ether market is divided into Paints and Coatings, Pharmaceutical, Printing inks, Cosmetics and Personal Care, and Others. Among these, Paints and Coatings is the major segment and held about 38% of the global Glycol Ether market in 2022.
Major players in the Global Glycol Ether market are BASF SE, The Dow Chemical Company, Eastman Chemicals Company, FBC Chemical, Huntsman corporation, INEOS, India Glycols Limited. Jangsu Yida Chemical, Kemipex, Lyondellbasell, Nippon Nyukazai, Royal Dutch Shell, SABIC, Sasol, Sadara Chemical, Solvay SA, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Glycol Ether which covers production, demand and supply of Glycol Ether market in the globe.
• To analyse and forecast the market size of Glycol Ether
• To classify and forecast Global Glycol Ether market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Glycol Ether market in the globe.
To extract data for Global Glycol Ether market, primary research surveys were conducted with Glycol Ether manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Glycol Ether market over the coming years.
ChemAnalyst calculated Glycol Ether demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce Glycol Ether. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Glycol Ether manufacturers and other stakeholders
• Organizations, forums and alliances related to Glycol Ether distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Glycol Ether manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Glycol Ether market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
4700 thousand tonnes
Market size Volume in 2032
7700 thousand tonnes
Growth Rate
CAGR of 5.10% from 2023 to 2032
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by Type, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Paints and Coatings, Pharmaceutical, Printing inks, Cosmetics and Personal Care, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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What was the net market size of Glycol Ether in terms of volume in 2022?
Ans:
The global market size of Glycol Ether has reached approximately 7500 thousand tonnes in 2022.
Q2.
Which region is the major consumer of Glycol Ether?
Ans:
Asia Pacific region is the leading consumer of Glycol Ether globally.
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