Global Glycol Ethers Market

Glycol Ethers market Overview

The global Glycol Ethers market is estimated to reach USD 11.9 billion by 2030 and grow at a CAGR of 6.1% from 2022 to 2030. It was valued at USD 7.1 billion in 2022. The high demand for Glycol Ethers in the paints and coating industries will increase future growth. The wide application of glycol ethers in various industries such as Printing, Pharmaceuticals, Cosmetics & Personal, and electronics are the primary factors boosting the demand for glycol ethers. Moreover, the North American region has the largest market share due to the increased use of glycol ethers in the paints and coatings industries. Asia Pacific region is expected to grow significantly due to increasing end-use industries like paints & coatings, cosmetics & personal care, and others.

What are Glycol Ethers?

Glycol ethers refer to a circle of solvents based on the alkyl ethers of ethylene glycol or propylene glycol. These products are widely used as solvents and in cleaning compounds, liquid soaps, and cosmetics. Glycol ethers are colorless liquids with a slight odor and have higher boiling points. Glycol ethers are commonly found in groups, namely E-Series and P-Series. The classification of the series mainly depends upon the reagent from which the glycol ethers are produced, including ethylene oxide and propylene oxide. The glycol ethers are primarily used as solvents for resins, paints, varnishes, gum, perfume, dyes, inks, etc.

Growth Drivers

Increasing demand for glycol ethers among various industry verticals will boost market growth.

The growing demand for glycol ether in the paints and coating industry is the primary factor driving the glycol ether market growth during the forecast period. The glycol ethers are widely used as solvents for resins, paints, varnishes, gum, perfume, dyes, inks, a constituent of paints and pastes, cleaning compounds, liquid soaps, cosmetics, and hydraulic fluids are the other factors increasing the glycol ether market demand among various industry vertical. Glycol ether has wide applications in manufacturing cosmetics and personal care products such as liquid soaps, sunscreens, etc. The growing adoption of cosmetics and personal care products due to the rise in disposable income and the ever-increasing buying power of consumers in developing and developed countries has increased the demand for personal care products. Furthermore, rapid urbanization and the growing construction and automobile industry have increased the demand for paints and coatings, resulting in the high growth of the glycol ether market. With the increasing awareness towards environment-friendly products, the need for P-Series glycol ether has witnessed significant growth due to its lower toxicity level. P-Series glycol ethers find wide applications in the semiconductor industry and can also be used as a solvent for removing solder flux and greasing and cleaning circuit boards.

Pre COVID-19 impact

The rapid expansion of architectural and industrial sectors has positively impacted the growth of the glycol ethers market. The high demand for water-soluble ingredients in various industry verticals such as the printing and personal care industries is expected to grow market. This is the growth driver of the increasing need for environment-friendly paints and coating in the architectural and other industrial sectors such as woodworking, aerospace, and defense. Moreover, the wide application of glycol ethers in cosmetic and personal care products is expected to boost the global glycol market. The growing printing industry is expected to positively impact the growth of the glycol ether market due to its increased use of glycol ethers in the printing industry for quick drying and high printing quality.

Covid-19 impact

The outbreak of the COVID-19 pandemic has severely impacted the growth of the global glycol ether market across the world. The rapid decline in the development of the glycol ether market is attributable to the non-availability of raw materials owing to its high dependence on China and other Asian countries. The decline in the manufacturing and construction activities due to Nationwide lockdown and economic slowdown has drastically decreased the demand for glycol ether worldwide. Furthermore, the rapid decrease in the disposal income among consumers and the low spending on infrastructure and architectural sectors has drastically impacted all end-use industries across the globe. The key market players have faced a decline in the demand for glycol ethers. The nationwide lockdown and stringent regulations on national and international transport have declined the availability of raw materials. The non-availability of the workforce due to the complete shutdown has stopped operations in various industries such as paints and coatings, manufacturing, and printing industries. Moreover, due to the interruptions in the supply chain, fluctuation in the price of glycol ether has been registered, which may be hindering the new players from entering into the glycol ether market.

Post Covid-19 impact

There will be significant growth in the paints and coatings industry due to increasing government spending on architectural and infrastructural activities across the globe. The growing cosmetic and personal care industry will positively impact the demand for glycol ethers in the coming years. The wide applications of glycol ether in various industry verticals such as automotive, manufacturing, pharmaceutical, aerospace, and defense are expected to boost the glycol ethers market growth across the world.

Type Segmental Analysis

Based on the type, the Global Glycol Ethers Market is segregated into E-Series and P-Series. The classification of the series mainly depends upon the reagent from which the glycol ethers are produced, including ethylene oxide and propylene oxide. E-Series include ethylene glycol butyl ether, ethylene glycol propyl ether, and ethylene glycol butyl ether acetate. Also, P-Series contains methyl ether, butyl ether, and methyl ether acetate. Both have broad applications in paints & coatings, personal care & cosmetic products, and various industries. The P-Series segment is expected to have the largest market share due to its lower toxicity level. Propylene glycol butyl ether has the largest market among P-Series glycol ether due to the increased use in treating metal and non-metal surfaces, laboratory products, and water treatment formulations.

Application Segmental Analysis

Based on Application, Global Glycol Ethers Market is divided into Paints & Coatings, Printing, Pharmaceuticals, Cosmetics & Personal Care, Electronics, and others. The paints & Coating segment is expected to have the largest market share due to the increased use of glycol ether as a constituent of paints and pastes. The rapid growth in the construction and infrastructure industry due to rapid urbanization and the growing disposable income of consumers are the primary factors driving the product market growth across the globe. The increasing demand for paints and coatings in the automotive industry is also expected to boost the market growth during the forecast period. The cosmetic & Personal care industry is also expected to significantly grow due to the growing adoption of cosmetic & personal care products across the globe. The rising awareness towards hygiene and personal care will also boost the product market growth during the forecast years. Glycol ethers find wide applications in the semiconductor industry and can also be used as a solvent for removing solder flux and greasing and cleaning circuit boards. These are the other factors increasing the product demand in the electronics industry.

Region Segmental Analysis

Global Glycol Ethers Market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. The Asia-Pacific has the most significant construction market, led by India, China, and various Asian countries. The leading key players in the market are attributed to the growing infrastructure in the developing countries of the Asia Pacific Region. Furthermore, rapidly increasing population and industrialization are expected to drive the Glycol Ethers market in the region. Factors such as the increasing residential and commercial construction have significantly increased the paint & coating industry, driving the demand for glycol ether. The growing demand for cosmetic & personal care products due to rising awareness towards hygiene and personal care are the primary factors increasing the product market demand during the forecast period. North America is expected to remain one of the critical markets for Glycol Ethers due to significant growth in residential and commercial construction. The growing demand for glycol ether among various industry verticals is the primary factor driving the product market growth in the coming years. Europe is also to have significant market growth due to the increased demand for cosmetics & personal care products in the region.

Competitors Analysis

The global Glycol Ethers market is volatile, with many international and regional players in the market. BASF, The Dow Chemical Company, Exxon Mobil Corporation, Royal Dutch Shell, Matrix Chemicals, Eastman Chemical Company, SASOL, LyondellBasell Industries NV, Biesterfeld AG, and Huntsman Corporation are the key players in the Global Glycol Ethers market.

Key Stakeholders

• Market research and consulting firms
• Industry associations
• Global Glycol Ethers technology manufacturing firm
• Research organizations and consulting companies
• Organizations, associations, and alliances related to microarray analysis
• Regulatory bodies
• Suppliers
• Retailers

Scope of the Report

Report Attribute	Details
Growth Rate	CAGR of 5.4% during the forecast period, 2021-2027
Historical data	2017-2019
Forecast period	2021 – 2027
Region covered	America, Europe, Asia-Pacific, South America, and Middle East & Africa
Key companies Profiled	BASF, The Dow Chemical Company, Exxon Mobil Corporation, Royal Dutch Shell, Matrix Chemicals, Eastman Chemical Company, SASOL, LyondellBasell Industries NV, Biesterfeld AG, Huntsman Corporation

Market Modelling

By Type

• E-Series
• E-Series Glycol Ether
• Ethylene Glycol Propyl Ether
• Ethylene Glycol Butyl Ether Acetate
• Others
• P-Series
• Methyl Ether
• Butyl Ether
• Methyl Ether Acetate
• Others

By Application

• Paints & Coatings
• Printing
• Pharmaceuticals
• Cosmetics & Personal Care
• Electronics
• And others

By Region

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

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