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Ethers Market Size Expected to Reach $11.5 Billion by 2030

 

Report Code : A10775

quote Rapidly growing modernization and industrialization across the globe have led to increase in the demand for the variety of raw materials to manufacture the products; hence also increasing the need for glycol ether. The increase in the investment and development of infrastructure in the developed and developing countries has positive impact on the glycol ethers market. The growing awareness among the people in regards with health and personal care after the pandemic outbreak has boosted the demand for glycol ether. The increase in the investment to develop renewable raw materials for the production of the glycol ether from agriculture is expected to create potential opportunities for the growth of glycol ethers market during the forecast period. quote

Eswara Prasad
Manager, Chemicals and Materials at Allied Market Research

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According to a new report published by Allied Market Research, titled, "glycol ethers market by type, by application and by end use: global opportunity analysis and industry forecast, 2020–2030," the global glycol ethers market size was valued $6.5 billion in 2020, and is projected to reach $11.5 billion by 2030, at a CAGR of 5.9% from 2020 to 2030.

Glycol ether is a group of solvents based on alkyl ethers of ethylene glycol or propylene glycol commonly used in paints and cleaners. Glycol ethers are either E-series or P-series glycol ethers, depending on the materials that are made from ethylene oxide or propylene oxide. Typically, E-series glycol ethers are found to be used in the automotive industry such as in brake cleaners, anti-freeze, and tire repair products.

In addition to this, they are found majorly applicable in the production of textile dyes, printing inks, and paints & coatings. P-series glycol ethers have lower toxicity as compared E-series, hence, they find their application in consumer daily life products such as in pharmaceuticals, personal care, in agriculture, and the production of chemical intermediates.

Rapid industrialization and modernization have led to increase in demand for raw materials to manufacture various glycol-based products such as cleaning agents, soaps, paints, and coatings. In addition, increase in influence of western culture on developing countries has propelled the growth of the textile industry. In addition, increase in national disputes among the neighbouring countries such as Pak–India–China has led to and rise in investment to deploy aircraft for national security.

This, in turn, has increased the demand for glycol ethers, as they are used in the production of aerosol coatings and anti-icing additives for jet fuel. Moreover, increase in application of electronic gadgets in various sectors has escalated the demand for semiconductors, which, in turn, boosts the need for glycol ethers which replace the Ethoxyethyl acetate in photoresist.

Moreover, increase in awareness among people in regards with health and personal care has led to increase in demand for pharmaceutical & personal care products, thus augmenting the market growth. Furthermore, rise in trend of automation and increase in awareness among people in regards with environment led to increase in demand for electric vehicles, which, in turn, fostered the demand for glycol ethers, as they are used in the production of paints and coatings that are resistant to water and UV radiations.

However, implementation of stringent policies in regards with the export & import of petroleum materials for the production of raw materials and rise in awareness among people in regards with environment have decreased the utilization of products that are harmful to the environment. Thus, the abovementioned factors hamper the development of the glycol ethers market.

The global glycol ethers market is segmented into type, application, end use, and region.

On the basis of type, the global glycol ethers market is bifurcated into E-series and P-series. By application, it is segregated into solvent, anti-icing, hydraulic & brake fluid, and chemical intermediate. Depending on end use, it is fragmented into paints & coatings, printing, pharmaceuticals, cosmetics & personal care, and others.

Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, Asia-Pacific accounts for the largest share of the market, followed by Europe and North America.

The major companies profiled in this report include BASF SE, Dow Chemical Company, Eastman Chemical Company, FBC Chemical, Hannong Chemicals, Henan GP Chemical, Huntsman Corporation, INEOS, India Glycols Limited, Jangsu Yida Chemical, Kemipex, KN Neochem, Lyondellbasell, Nippon Nyukazai, Oxiteno, Recochem, Royal Dutch Shell, SABIC, Sasol, Sadar, and Solvay Production capacities, acquisition, partnership, and joint venture are the key strategies adopted by major players to strengthen their foothold in the global glycol ethers market.

 

Impact Of Covid-19 On The Global Glycol Ethers Market

  • The COVID-19 pandemic has affected the global economy of various industries, which includes oil & gas, manufacturing, and chemicals.
  • This pandemic has disrupted the supply chain of the oil & gas industry, which has influence on the glycol ether manufacturing industry. The outbreak of pandemic had led to partial or complete shutdown of production facilities, which are not related to essential goods.
  • China produces major share of the glycol ether production. The outbreak of novel coronavirus originated from the China, which has caused major impact for the manufacturing firms and vendors due to shut down of manufacturing plant and improper transportation of the petroleum-related raw materials to the manufacturing facilities.
  • Increase in awareness among the people regarding global warming during the outbreak lead to the increase in the demand for products that are manufactured using renewable and green resources led to a negative impact on the development of market. 
  • Surge in demand for electric vehicles in automotive industry and government support policies to develop green energy vehicles positively impact the glycol ethers market.

Key findings of the study

  • Region wise, the Asia-Pacific is projected to witness growth at the highest CAGR in terms of revenue, during the forecast period.
  • As per glycol ethers market analysis, by type, the P-series segment accounted for the largest share in 2020.
  • On the basis of application, the solvent segment was the major share contributor in 2020.
  • On the basis of end use, the paints and coating market segment was the major share contributor in 2020.

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quote Glycol Ethers Market by Type (E-series and P-series), Application (Solvent, Anti-icing, Hydraulic and Brake Fluid, and Chemical Intermediates), End Use (Paints & Coatings, Printing, Pharmaceuticals, Cosmetics & Personal Care, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030 quote

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