Global glycol ethers market, which is slated to accrue revenue worth 9.52 (USD Billion) by 2026, is set to record the CAGR of nearly 5.8% over the period from 2020 to 2026.
New York, United States - November 3, 2020 /MarketersMedia/ —
Analysts at Zion Market Research carried out a comprehensive analytical study regarding the global glycol ethers market, based on which the market value had reached nearly USD 6.7 billion in 2019 and is likely to grow at a CAGR of about 5.8%. The report illustrates that the global glycol ethers market value is anticipated to reach around USD 9.52 billion by 2026.
The leading players that are efficiently regulating the global glycol ethers market are The Dow Chemical Company, Sasol, BASF SE, Shell, Biesterfeld, SABIC, Matric Chemicals, Exxon Mobil, LyondellBasell Industries, Eastman Chemical, HanNong Chemicals, and Huntsman Corporation. The industries are dedicated to attaining the dominating position in the global market by enhancing their product portfolios and by extending their geographical footprints through mergers, collaborations, and acquisition of competing industries and startups.
Diverse Applications Of Glycol Ethers Likely To Push The Global Market During The Forecast Period
Glycol ethers are broadly used as organic solvents, cleaners, coating agents, adhesives, and aerosol paints, among others in the pharmaceutical, automotive, and commercial sectors. Such vast applications of the product are expected to drive the global glycol ethers market and generate a wide range of business opportunities in the forthcoming years. On the contrary, acute exposure to concentrated glycol ethers may cause severe kidney & liver damage, pulmonary edema, and narcosis in humans. Chronic exposure may generate neurological disorders, causing tremor, fatigue, anemia, and nausea-like symptoms.
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Glycol ethers are used as a coating material in the automotive sector, as the chemical reflects heat and UV radiation falling on the automobiles. Bearing the current scenario in mind, the glycol ethers market is likely to observe considerable demand due to the rising production of hybrid and electric vehicles. Moreover, the paint manufacturers are also demanding more glycol ethers to lubricate and improve their products' flow properties. The growing glycol ethers demand is attributed to increasing construction and renovation activities.
The global glycol ethers market report illustrates a comprehensive market analysis by categorizing it based on the raw material, application, and region. By raw material, the latest report segments the market into E-series and P-series glycol ethers. By applications, the global market is divided into printing, electronics, paint & coatings, cosmetics & personal care, pharmaceuticals, and others. By geography, the report segregates the global market into renowned regions. The glycol ethers manufactured from two different types of raw materials, E-series and P-series, have different applications. The glycol ethers manufactured from E series raw material are used in water-based paints, personal care products, inks, and pharmaceuticals, while glycol ethers manufactured from P series are primarily used in aerosol paints, adhesives, cleaners, and coatings.
Strict Emission Regulation Set By EU Urging The European Glycol Ethers Market To Propel
Based on regional market growth analysis, Europe is likely to grow remarkably during the projected period and attain a significant position at the global level. Since 2019, the emission standards set by the commission across the region have become even stricter, encouraging the expansion of the global electric and hybrid vehicles, which will eventually boost the demand for glycol ethers in the region.
The ZMR-published market research report segments the global glycol ethers market as follows:
By Raw Material:
E-Series
Ethylene Glycol Butyl Ether Acetate
Ethylene Glycol Propyl Ether
E-series Glycol Ether
Others
P-Series
Methyl Ether Acetate
Butyl Ether
Methyl Ether
Others
By Application:
Printing
Electronics
Paints & Coatings
Cosmetics & Personal Care
Pharmaceuticals
Others
By Region:
North America
The U.S.
Canada
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
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