Glyoxal Market Analysis:
Glyoxal is an organic compound with the chemical formula OCHCHO. Glyoxal belongs to the aldehyde group, with IUPAC name oxaldehyde. Glyoxal is available in liquid form at normal temperature. Glyoxal, also known as dialdehyde, is originated from ethylene glycol. Glyoxal is an essential cross-linking intermediate, which aids in the oil extraction process of the immiscible phase. It is a multi-purpose cross-linker for textile, paper, oil/gas, cosmetics, and leather applications. Cross-linking improves the strength of polymers. In addition, it is used as a building block in special epoxy resins and for imidazoles. Moreover, it is used in several applications such as food packaging, film, toys, food containers, bottles, pipes, antifreeze, carpets, insulation, and house-wares.
COVID-19 impact analysis
- The demand for personal hygiene and homecare products is expected to rise due to the growing consciousness among consumers in the wake of the COVID-19 pandemic. Pandemic has made consumers more aware of need to maintain hygiene, at a personal level as well as at home, to reduce the chances of infection. This is likely to increase market demand for personal care products.
- The COVID-19 pandemic affects the global food industry as governments close down restaurants and bars to slow the spread of the virus. Closures of restaurants led to negative impact on related industries such as food production, liquor, wine, and beer production, food and beverage shipping, fishing, and farming.
- The textiles & apparels industry is one of the largest and the most significant sectors for the economy in terms of output, foreign exchange earnings, and employment. The global health crisis is primarily expected to adversely impact the exports. Moreover, new store openings have stopped and even domestic stores are facing an inventory issue, as they have already buffered stock for pile up. The demands of textile and apparels have been drastically decreased.
Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
On the basis of product type, the glyoxal market is segmented into pharmaceutical grade and industrial grade. Pharmaceutical grade glyoxal is used as a precursor in the manufacturing of a large number of chemical products such as metronidazole, dimetridazole, and imidazole. Industrial grade glyoxal is used in textile, leather, oil & gas, cosmetics & personal care, and other industries as a raw material. increase in intermediate use in the chemical, pharmaceutical, and agricultural industries is the key driver of the global market.
Rise in demand for oil & gas across the globe is expected to boost the demand for glyoxal. Glyoxal used as a cross-linker and increases the thickness of the fracturing fluid to release oil. The oil & gas industry garners largest share in terms of demand.
Furthermore, increase in use of organic composite in food & beverage packaging drives the market growth. Demand for glyoxal is high in the paper packaging industry due to its moisture retention properties. Demand for packaged foods has been increasing, as they are time-saving and available in appropriate packaging with freeze or defrost stability. Increase in technological enlargements in the packaging industry is expected to enlarge the variety of suitability of food products that include frozen, chilled, shelf-stable, microwavable, and prepared mixes. Increasing consumer spending in personal care and hygiene products such as moisturizers and sunscreen creams will boost the market growth.
However, fluctuations in the availability and prices of raw material such as ethylene, ethylene glycol, and acetaldehyde are hindering the growth of the market. Instability in oil prices are further hampers the market growth.
Surge in usage in glyoxal and industrial applications
The global Glyoxal market by region is segmented into North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific accounted for the largest market share in the glyoxal market across the globe. Increase in demand for textile and leather products is expected to boost the market for glyoxal in Asia-Pacific. Moreover, demand for glyoxal is growing in cosmetics and personal care industries in China and India, which is likely to boost the market in Asia-Pacific.
Furthermore, increase in oil refining activities in North America is positively influence the oil & gas segment. Rise in oil & gas exploration activities and strong demand from the packaged food industry in North America and Europe are likely to drive the demand for glyoxal in these regions.
Depending on application, the glyoxal market is categorized into textiles, leather, oil & gas, cosmetics, paper & packaging, and others. To encourage smoother and less wrinkled fabric, Glyoxal is commonly used as a cross-linking agent or building block for textiles. Surge in adoption of sustainable and environment-friendly products will increase the demand for glyoxal, thereby augmenting the growth of the global market.
Key benefits of the report
- This study presents the analytical depiction of the global glyoxal market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global glyoxal market share.
- The current market is quantitatively analyzed to highlight the market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions answered in the global glyoxal market research report:
- Which are the leading players active in the global glyoxal market?
- What are the upcoming trends in the global glyoxal market?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Glyoxal Market Report Highlights
By End-use Industry
Key Market Players
Reliance Industries, Dow Chemical Co., Alberta & Orient Glycol and Nan Ya Plastics Corp., Thermo Fisher Scientific Inc., Shell Chemicals, Huntsman Corp., Eastman Chemical, BASF SE, Formosa Plastics Group, Clariant, ME Global B.V., INEOS, SINOPEC, WeylChem International GmbH, Silver Fern Chemical, Haihang Group