SELBYVILLE, Delaware - September 17, 2020 - (Newswire.com)
Based on Global Market Insights Inc.'s report, the global glycidol market was estimated at $130 million in 2019, and valuation is slated to surpass $180.52 million by 2026, registering a CAGR of 4.9% from 2020 to 2026. The report provides an in-depth analysis of the wavering industry trends, key winning strategies, competitive scenarios, market estimations, as well as size, drivers and opportunities, and key investment avenues.
The demand for global glycidol products is increasing rapidly due to the increasing occurrences of infection transmitted diseases like COVID-19. Furthermore, the rapidly increasing product applications in manufacturing surface-active compounds like shampoos, moisturizers, and skin creams among many others are likely to boost the glycidol market demand over the coming years.
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In terms of grade, glycidol with a purity of 97% and 96% is slated to grow at a CAGR of more than 5.1% over the forecast time period. This growth is ascribed to its increasing applications in the production of epoxy and vinyl polymers. Moreover, increasing usage of the product as a solvent in manufacturing paints will further drive the glycidol market growth. Furthermore, rising demand for different kinds of paint from the construction and automotive sectors is expected to also boost the segmental growth.
With respect to the distribution channels, the online distribution channel is likely to witness substantial growth over the coming years. Consumers prefer online channels for purchasing these products due to the options online channels offer that help consumers compare prices of various products and the simplicity of the purchase process. Consequently, numerous distributors have registered themselves across online trading sites for facilitating a much better shopping experience for customers.
Meanwhile, the ongoing COVID-19 pandemic has led to changing consumer perception towards the importance of personal health & hygiene. This is further expected to increase the demand for disinfectants and detergents, thereby increasing glycidol market growth opportunities.
Key reasons for glycidol market growth:
- Rising adoption in the paints application segment.
- Rapidly growing personal care sector in Europe.
- Increasing demand from the pharmaceutical sector.
2026 estimates anticipate the 'biocides' application segment showing appreciative growth:
In terms of application, the biocides application segment is likely to reach a valuation of approximately $5.5 million by the end of the analysis time period. Rapidly increasing applications of the product in the production of biocides and pharmaceutical drugs is likely to drive the industry growth over the coming years. Moreover, rising cases of healthcare-related infections and the growing need to utilize antiseptics for treating infections in mucous membranes and damaged skin is further propelling the demand for biocides, ensuring industry growth.
North America and Europe to witness remunerative growth:
The glycidol market in North America is likely to reach a valuation of approximately $50 million by the end of the analysis time frame. The region is slated to grow at a CAGR of more than 5.0% over the forecast time period to reach the valuation. North America is likely to witness this strong growth due to the rapidly growing pharmaceutical sector across the region.
Europe's glycidol market is slated to reach a valuation of nearly $35 million by the end of the analysis timeline. This growth is ascribed to the rising consumer awareness towards personal grooming to look much more presentable. This trend is further highlighted by the fact that, in 2019, the European cosmetics and personal care market was the largest across the globe, with a valuation of nearly $94.46 billion. Subsequently, the surging use of cosmetic products especially among women over the last few years is expected to prominently contribute towards the growth of the market in Europe.
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Leading market players:
Prominent market players analyzed in the market report include LGC Group, FUJIFILM WAKO PURE CHEMICAL CORPORATION, HBCChem, Acros Organics, Meryer (Shanghai) Chemical Technology, KANTO CHEMICAL CO. INC., and Nacalai Tesque among many others. They have incorporated several strategies including partnerships, expansions, collaborations, joint ventures, and others to heighten their stand in the industry.
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About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting, and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision-making.
GMIPulse, our business analytics platform, offers an online, interactive option of exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top-level categories and hundreds of industry segments within them, covering regional, company level, and cross-sectional statistics that make our offering a stand-out for decision-makers.
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Original Source: Global Glycidol Market Projected to Exceed $180.52 Million by 2026, Says Global Market Insights Inc.
