Glycol Ethers Market Analysis | 2023-2028
Glycol Ethers Market Size, Share, Trend, Forecast & Industry Analysis: 2023-2028
The Glycol Ethers Market was estimated at US$ 4.95 billion in 2022 and is expected to grow at a CAGR of 5.2% during 2023-2028 to reach US$ 6.75 billion in 2028.
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Glycol ethers are a group of solvents derived from ethylene or propylene oxide, widely used in various industrial and household products. These solvents, classified as E-series (ethylene) or P-series (propylene), serve as effective carriers in paints, cleaning agents, and cosmetics due to their dual water-soluble and water-insoluble characteristics. Commonly found in formulations for their solvent properties, glycol ethers facilitate the dissolution of diverse substances.
Despite their utility, exposure to concentrated forms can pose health risks, with some types linked to potential toxicity. Caution and adherence to safety guidelines are crucial during the handling and use of products containing glycol ethers.
The growing usage of glycol ethers in cosmetics and personal care products, as well as increasing product demand in the paints and coatings industry, are the major factors fueling the growth of the market during the forecast period.
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The glycol ethers market is segmented as paints and coatings, printing, pharmaceuticals, cosmetics and personal care, adhesives, and others. The Paints and Coatings segment is estimated to be the dominating end-user industry in the market owing to the rapid growth in product demand from various industries such as construction, automotive, and packaging, boosting the market growth during the forecast period.
In terms of regions, Asia-Pacific is estimated to be the dominating region in the market owing to growing demand for products such as paints and coatings, and adhesives from various end-user industries such as automotive, electronics, construction, and adhesives during the forecast period. Further, countries such as India, Vietnam, China, and Indonesia being the major countries with growing demand for architectural paints and coatings, adhesives, owing to several construction projects, are expected to accelerate the regional market growth over the forecast period. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
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Some of the major players in the glycol ethers market are-
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The glycol ethers market is expected to witness an impressive growth of 5.3% CAGR during the forecast period.
BASF SE, Eastmen Chemical Company, FBC Chemical Corp., Ineos Group Limited, KH Neochem Co. Ltd., LyondellBasell Industries NV, Nippon Nyukazai Co. Ltd., Oxiteno, Royal Dutch Shell PLC, and Sasol Limited are among the key players in the glycol ethers market.
The Glycol Ethers Market is expected to reach US$ 6.75 billion in 2028.
Asia-Pacific is expected to remain dominant in the glycol ethers market during the forecast period.
The Paints and Coatings segment is expected to remain dominant in the glycol ethers market in the coming years.
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