Glyoxal Market Growth Analysis | 2023-2028

Market Insights

The Glyoxal Market was estimated at US$ 251.12 million in 2022 and is expected to grow at a CAGR of 4.5% during 2023-2028 to reach US$ 327.96 million in 2028.

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What is Glyoxal?

Glyoxal is a small organic compound with the chemical formula C2H2O2. It is a colorless to pale yellow liquid that holds significance in various industrial applications. As an aldehyde, glyoxal is reactive and is commonly utilized as a cross-linking agent in the production of textiles, paper, and resins. It has preservative properties and is used in cosmetics, leather processing, and as a disinfectant. Moreover, glyoxal plays a role in atmospheric chemistry, contributing to air pollution and participating in the formation of secondary organic aerosols.

Market Dynamics

The factors propelling the Glyoxal Market growth include:

• Growing demand across diverse end-use sectors.

• Advancements in coating applications lead to increased demand.

• The versatile properties of glyoxal contribute to its market growth.

• The emergence of innovative applications like bioplastics amplifies market demand.

Segments Analysis

By Application Type

Based on the application type, the glyoxal market is segmented as crosslinking, intermediates, and others. The crosslinking segment dominated the market and is expected to remain dominant during the forecast period. It is widely used as a crosslinking agent in the paper, textile, leather, and cosmetics industries.  As an intermediate, glycol serves for agrochemicals, antibiotics in pharmaceuticals, allantoin and complexing agents, etc.

By End-Use Industry Type

Based on the end-use industry type, the glyoxal market is segmented as derivatives, leather, oil & gas, paper, personal care, textile, and others. Textile and paper are the established markets for glyoxal. It enables softer and less wrinkled textiles and is used as the main agent for finishing clothing, 2D resin, and M2D resin. It also has a good level of acceptance in paper coating applications, it acts as an additive to enhance the quality of premium paper by decreasing the water uptake of the paper. Another important driving factor for consideration is its sustainability which has led to its listing as an accredited chemical substance in the production of paper for food packaging by the Federal Institute for Risk Assessment (BfR) in Germany and by the Food and Drug Administration (FDA) in the U.S.

Regional Analysis

In terms of regions, Asia-Pacific is estimated to be the largest as well as fastest-growing glyoxal market during the forecast period. Increasing disposable income and growing population are leading to the mounting demand for textiles, paper, and chemicals, which is giving an impetus to the growth of the market in the Asia-Pacific region, with China and India being the major growth engines, offering promising growth opportunities during the forecast period.  North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

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Key Players

Some of the major glyoxal market participants include-

• BASF SE
• Dow Chemical Co.
• Eastman Chemical
• Haihang Group
• Merck KGaA
• Reliance Industries
• Silver Fern Chemicals Inc.
• SINOPEC
• WeylChem International GmbH
• Zhonglan Industry Co. Ltd.

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, validation, and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

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Company Profiling

• Detailed profiling of additional market players (up to three players).
• SWOT analysis of key players (up to three players).

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

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