Top 4 factors driving glycol ether market outlook

11:30 AM, 25th January 2021
Touted as an integral component across a slew of industrial and household applications, the demand for glycol ether has increased over time with the concurrent expansion in the chemicals, personal care, cosmetics, pharmaceutical and paints industries.

Touted as an integral component across a slew of industrial and household applications, the demand for glycol ether has increased over time with the concurrent expansion in the chemicals, personal care, cosmetics, pharmaceutical and paints industries. As most of the products that are manufactured under this segment are water-based, effective solvents are required to ensure their shelf life, stability and performance.

In this regard, a variety of product formulations and element combinations would not be possible without the presence of glycol ethers to support their reactions. Glycol ethers are applicable in the production of rubber and electronic products, while paints and coatings used by automobile manufacturers showcase an integral segment where glycol ether consumption could witness considerable expansion in the years to come.

According to reports, the global glycol ether market size could cross $8.5 billion in terms of total valuation through 2025. Mentioned below are some of the important factors likely to impact the industry size in the near future.

Paints & coatings in automobile sector 

A rise in purchasing power among the people in both developed as well as developing regions has driven the purchase of vehicles. According to the European Automobile Manufacturers Association, over 92.8 million vehicles were produced across the globe in the year 2019. Painting of vehicles represents one of the most important critical coating applications, with end products ranging from passenger vehicles to heavy trucks.

Basecoat and topcoat enamel finishes are used by OEMs during assembly with the help of different painting techniques. Glycol-based solvents are now being used owing to their solvency and evaporation rates.  Suitable coating solutions provide different aesthetic benefits like improved shine and color, coupled with protection against harmful UV rays which can fade the exterior paint of the cars.

Considering the above benefits of these solvent-based coatings along with the growing number of vehicles being produces annually, glycol ether market is sure to witness considerable demand in the near future from the automobile sector.   

Gradual emergence of smart cities  

With aim to enhance the quality of living, governments along with private institutions across various sectors of the economy have invested in the development of smart cities. In November 2014, Singapore announced its smart city initiative called ‘Smart Nation’ which is a nationwide approach that encourages the use of digital innovations and technology to drive sustainability and livability.

The rise in construction and renovation activities has supported the adoption of E series glycol ether. These are commonly used to manufacture paints and coatings due to their favorable properties like miscibility with water, slow evaporation rate, and coalescing characteristics. Strict regulations based on toxicity levels coupled with the changing consumer perceptions towards the use of sustainable construction techniques will boost the use of E series glycol ether.

Robust urbanization in Europe

With respect to geographical revenue terrain, Europe ethylene glycol butyl ether acetate market share from the chemical applications has garnered significant traction. Relatively high disposable income among the people along with supportive government schemes in upgrading and modernizing the chemical sector will complement the need for glycol ether.

Superior characteristics like electrical resistance and high blush, high solvency rate, and biodegradable nature will drive the use of the product across the chemical sector, along with paints, coatings, manufacturing of printing inks, and automotive refinishes.

Competitive market dynamics

Glycol ether companies are constantly working towards improving their portfolio to meet the vast product needs from different sectors of the economy. Firms are entering into mergers and acquisitions to meet their geographical and product expansion needs. German company - Biesterfeld Spezialchemie announced the acquisition of Lindberg and Lund Group – a Norwegian distribution firm in August 2019.

The company focuses on the technical distribution of raw materials and formulated products from areas like composites, adhesives, electronics, and oil and gas lubricants. Through this acquisition, the company aims at extending its geographical footprint. Other leading industry players include BASF SE, Shell, Eastman Chemical, HanNong Chemicals and Dow Chemicals, to name a few.

Evidently, a broad application scope along with a rapidly growing automobile sector will support the consumption of glycol ether-based paints and coatings. Glycol ether market is bound to witness tremendous growth in the years to come due to its favorable properties and its use in various applications.

Get detailed analysis on the glycol ether market: https://www.gminsights.com/request-sample/detail/3269

Contact Info:

Arun Hegde
Corporate Sales USA
Global Market Insights Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Website: https://www.gminsights.com

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