Glycol Ethers Market Expected to A CAGR of 4.80%by 2028 Profiling...

Glycol Ethers Market Expected to A CAGR of 4.80%by 2028 Profiling Companies and Growth Strategies

Posted 2024-01-22 06:36:36

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A new report by Reports and Data forecasts that the global glycol ethers market will reach USD 8,138.3 million by 2028. Glycol ethers, which contain both alcohol and ether functional groups in the same molecule, are versatile organic solvents with unique solvency properties due to their dual functionality. They have traits like chemical stability, excellent solvency, and compatibility with water, among others. Glycol ethers are used in various applications, including coupling solvents for hard-surface cleaners, chemical reaction solvents, and insecticide solvents, among others. The market is growing due to the increasing demand for products with low toxicity, and P-series glycol ethers, in particular, are seeing growing acceptance among consumers due to their low toxicity rate.

Europe holds a significant market share, thanks to the expansion of the electronics industry, rising demand for paints and coatings from the construction sector, and a well-established cosmetic industry.

The report found that the glycol ethers market held a market share of USD 91 billion in 2018, with a forecasted growth rate of 5.1% during the forecast period. The P-series segment generated higher revenue of USD 3.88 billion in 2018, with a CAGR of 5.4% during the forecast period. The Paints and Coatings segment is leading the market, generating the highest revenue of USD 2.21 billion in 2018, with a growth rate of 5.3% during the forecast period. The Solvent segment generated the highest revenue of USD 2.80 billion in 2018, with a CAGR of 5.4% during the forecast period. North America held 0% of the market in 2018, with a growth rate of 5.2% during the forecast period.

The key participants in the market include The DowDuPont Chemical Company, BASF SE, SABIC, LyondellBasell Industries, N.V., Royal Dutch Shell PLC (Shell), Eastman Chemical Company, Sasol, Nippon Nyukazai Co. Ltd., India Glycols Limited, and FBC Chemical. The report segmented the global glycol ethers market according to Product Type, End-user, Application, and Region.

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Glycol Ethers Market : Drive factors

The global glycol ethers market is expected to grow and reach USD 8,138.3 Million by 2028. Glycol ethers are versatile organic solvents with both alcohol and ether functional groups in the same molecule. These solvents possess excellent solvency, chemical stability, and compatibility with water and various organic solvents. Due to their unique solvency properties, glycol ethers find applications in various industries like hard-surface cleaners, chemical reaction solvents, and solvents for insecticides.

The P-series segment of glycol ethers is expected to generate the highest revenue during the forecast period due to its low toxicity compared to E-series products. The Paints and Coatings segment is leading the market with the highest revenue generated by using glycol ethers as a solvent. The North American region is also supporting the expansion of the market due to the presence of a well-established automotive industry and the growth of the electronics sector.

The increasing demand for products with low toxicity is driving the growth of the glycol ethers market. The market is also expanding due to the expansion of the electronics industry, rising demand for paints and coatings from the construction sector, and a well-established cosmetic industry.

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