Glycol Ethers Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033

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What is the Projected Market Size and Growth Rate of the Glycol Ethers Market in 2024?

The glycol ethers market has been making impressive strides over recent years. Expected to grow from $7.31 billion in 2023 to reach $7.94 billion in 2024, the market is recording a compound annual growth rate CAGR of 8.7%. This growth within the historic period has primarily been fueled by industries such as paints and coatings, printing, cleaning and household products, industrial manufacturing, and advancement in the chemical industry.

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What Does the Growth Forecast for the Glycol Ethers Market Look Like?

In the next few years, the glycol ethers market is predicted to maintain strong growth, expected to reach an impressive $11.12 billion by 2028, maintaining a compound annual growth rate CAGR of 8.8%. Factors that are likely to drive this growth during the forecasted period include the rise in green cleaning products, electronics and semiconductor manufacturing, the healthcare and pharmaceuticals industries, renewable feedstock research and development.

Significant trends observed during the forecast period include the growth of low volatile organic compound VOC paints and coatings, advancements in digital printing technologies, further exploration of renewable feedstocks, stricter safety and health regulations, and the surge in aerospace coatings.

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What are the Growth Drivers in the Glycol Ethers Market?

The rapid growth in the personal care and cosmetic industry is anticipated to significantly prop up the growth of the glycol ether market. This industry, which involves the manufacturing of beauty and cosmetics-related products, makes major use of glycol ethers in a variety of personal and cosmetic products. This includes products for hair care, skincare, bath products, and cleanliness products. For instance, according to Exploding Topics, a US-based publishing site, the beauty industry's revenue is projected to surpass $120 billion by 2025. Therefore, the expanding personal care and cosmetic industries are likely to be major drivers for the glycol ether market.

Which Industry Players are Making Significant Contributions to the Glycol Ethers Market?

Prominent companies operating in the glycol ethers market include Dow Chemical Company, HanNong Chemicals Inc., BASF SE, INEOS Group Ltd., India Glycols Limited, Solvay SA, Shell plc, Jiangsu Yida Chemical Co. Ltd., China Petroleum & Chemical Corporation, Huntsman International LLC, Nippon Nyukazai Co. Ltd., Oxiteno LLC, KH Neochem Co. Ltd., Sasol Limited, Eastman Chemical Company, LyondellBasell Industries, Saudi Basic Industries Corporation, CCP Industries, Celanese Corporation, Reliance Industries Limited, Emerald Performance Materials LLC, FBC Chemical Corp, Guangdong Runhua Chemicals Co. Ltd., IGL Coatings, NARCHEM Corporation, NOF Corporation, PetroChina Company Limited, PCC Rokita SA, UBE Industries Ltd., Wujiang Dongang Chemical Co. Ltd.

Are There Any Emerging Trends in the Glycol Ethers Market?

Strategic partnerships have been identified as a key emergent trend in the glycol ether market. Major players are seeking strategic collaborations to help them solidify their market positioning. For example, in March 2022, the Saudi Arabian Oil Company Aramco, through its Saudi Aramco Asia Company Limited SAAC subsidiary, entered a collaboration with China Petroleum and Chemical Corporation. Similarly, in October 2021, US-based Dow Chemicals partnered with Haldor Topsoe in a cooperative effort to sustainably reclaim value from waste plastics and integrate them into circular plastics.

How is the Glycol Ethers Market Segmented?

The glycol ethers market covered in this report is segmented as follows:
1 By Type: E-Series, P-Series
2 By Application: Solvent, Anti-icing, Hydraulic and Brake Fluid, Chemical Intermediates
3 By End User: Paints and Coatings, Printing, Pharmaceuticals, Cosmetics and Personal Care, Adhesives, Other End-Users

What Does the Regional Market Landscape Look Like?

In 2023, North America held the largest share in the glycol ether market. Furthermore, Asia-Pacific is predicted to be the fastest-growing region in the coming years. The glycol ethers market report encompasses regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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