Glyoxal Market Research Report- Forecast to 2030

Global Glyoxal Market by Application (Paper, Cross-Linking Polymer, Sulfur Scavenger, Wood Hardening and Others), by End Use (Oil & Gas, Paper Packaging, Leather, Textiles, Cosmetics, Furniture and Others) and by Region Forecast till 2030

ID: MRFR/CnM/3333-HCR | February 2021 | Region: Global | 139 pages

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Glyoxal Market Overview

Glyoxal Market is projected to grow at a 5.20% CAGR due to the increasing demand from Textiles Industry.

Glyoxal is an organic compound liquid and it has a melting point of 15°C.  It is an essential compound in organic synthesis processes, which can withstand high temperature up to 150°C. In contrast, this compound is highly instable and can polymerize exothermically. Glyoxal is readily biodegradable and environmental friendly, for this reason it has attracted many consumers. Therefore, it has opened market in end use industries such as oil & gas, paper packaging, leather, textiles, cosmetics, and furniture.  It has excellent crosslinking polymer characteristics, which is used in the textiles and leather tanning industry. In the oil & gas industry, it is used as a sulfur scavenger to reduce corrosion and other related risks. In the cosmetics industry, this compound is used as a cross-linking polymer, which enhances the viscosity of the emulsion. In the wood industry, it is used for coating and protecting the furniture from moisture. Altogether, it is anticipated that the Glyoxal Market is expected to grow at a higher CAGR over the forecast period for these reasons. The oil & gas industry is the key driver of global market owing to high usage of the compound in this end use industry ensures the safety of process equipment.

Rapid urbanization and growth of the middle-class population ensure in increasing the lifestyle standards of the urban population. Cross-linking characteristic of this compound is been widely used in many applications such textiles, paper packaging, leather, cosmetics, and furniture. These applications are parameters for defining the standard of living and it is anticipated that use of these products likely to increase the market growth over the forecast period.  
 

Global Glyoxal Market Share, by End Use 2016 (%):Glyoxal Market


Regional Analysis:


Asia Pacific is the leading market across the globe due to the increased usage of cross linking polymers in the textile industry and growing population. Many countries in this region are adopting a capitalistic ideology and balancing it with democracy. Additionally, paper packaging is replacing the usage of polymeric food packaging due to the environmental concerns. This region holds a major share of the global market and it is anticipated to grow at a higher CAGR due to the rising middle-class population. This middle-class population focuses more on improving their lifestyle by spending on food packaging, textiles, and oil & gas industries end products.


Increasing oil consumption in North America to meet the requirements of energy in various sectors has consequently opened up the market for petroleum secondary consumer products such as Glyoxal which is used as a sulfur scavenging agent in the oil & gas industry. Due to the high human development index of North American countries, the industries are expecting a focus on textiles, cosmetics, and food packaging, which are required to enhance the living standards of the people. Recent shale gas discovery in North America has thus increased the Global Glyoxal Market and simultaneously resolved the issue of raw material imports. They can facilitate their own raw materials without importing them from other countries.


In European countries like the UK, Spain, Italy, and other countries, changing the lifestyle of people and increasing the standard of living had also driven the demand for Glyoxal Market in these developed countries. As Glyoxal is used for the decreasing intake of water in crosslinking cellulose and also as an anti-wrinkling agent for the textiles, it is anticipated to boost the growth of this region. Therefore, there is a chance for the textile industry to grow at a higher CAGR over the forecast period.


In the Middle East region, countries like the U.A.E, and Saudi Arabia has positioned themselves as a travel & tourism industry center. Additionally, there are new proposed construction projects in the forecast period. It is anticipated that as there is growing demand for Glyoxal in this region, setting up new capacities in the forecast period will ensure growth of Glyoxal Market in this region.


After the 2009 recession crisis, Latin American countries are picking up the market trend slowly. As a consequence of the crisis, domestic prices continue to rise up in this region. People will be looking for economic stability and also consumer spending will be least expected in the forecast period.


Segmentation:


The Global Glyoxal Market is segmented on the basis of application, end use industry and region. Based on the application, the market is segmented into paper, cross-linking polymer, sulfur scavenger, wood hardening, and others. On the basis of the end use industry, the Global Glyoxal Market is segmented into oil & gas, paper packaging, leather, textiles, cosmetics, furniture, and others. Based on the region, the market is segmented into Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.


Key Players:


Some of the prominent players in the Global Glyoxal Market are BASF SE (Germany), Silver Fern Chemical Inc. (The U.S.), Eastman Chemical Company (The U.S.), The Dow Chemical Company (The U.S.), Huntsman Corporation (The U.S.), Formosa Plastics Corporation (Taiwan), Royal Dutch Shell plc (The Netherlands), Amzole India Private Limited (India), Hubei Hongyuan Pharmaceutical Technology Co., Ltd (China), Zhonglan Industry Co., Ltd (China), and among others.

Recent Development

Jan 2022 - The Michael J. Fox Foundation for Parkinson's Research has bestowed Cantabio Pharmaceuticals, Inc. a key grant for a project. Cantabio Pharmaceuticals, Inc. is a preclinical phase pharmaceutical company developing disease-modifying therapeutics for Parkinson's disease, Alzheimer's disease, and Type 2 diabetes. This grant will help the business continue its tau protein-targeting small-molecule pharmacological chaperone therapeutic program, which aims to prevent and reduce tau protein aggregation as a therapeutic strategy for treating tauopathies in general. Cantabio is targeting the decrease of biochemical stress, such as protein aggregation, oxidative, and glyoxal stress, which are the fundamental causes of several aging-related disorders, through its in-house drug discovery program.


Intended Audience



  • Global Glyoxal Manufacturers

  • Traders and Distributors of Global Glyoxal

  • Research and Development Institutes

  • Potential Investors

  • Raw Material Suppliers

  • Nationalized Laboratory



Report Scope:
Report Attribute/Metric Details
  Market Size   2030: Significant value
  CAGR   2022–2030: 5.20% CAGR
  Base Year   2021
  Forecast Period   2022 to 2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Application, End-Use Industry and Region
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   BASF SE (Germany), Silver Fern Chemical Inc. (The U.S.), Eastman Chemical Company (The U.S.), The Dow Chemical Company (The U.S.), Huntsman Corporation (The U.S.), Formosa Plastics Corporation (Taiwan), Royal Dutch Shell plc (The Netherlands), Amzole India Private Limited (India), Hubei Hongyuan Pharmaceutical Technology Co., Ltd (China), Zhonglan Industry Co., Ltd (China), and among others.
  Key Market Opportunities   Rapid urbanization and growth of the middle-class population ensure in increasing the lifestyle standards of the urban population.
  Key Market Drivers   The oil & gas industry


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Frequently Asked Questions (FAQ) :

Glyoxal Market is predicted to grow at 5.20% CAGR through forecast period of 2020-2030.

The forecast period for Glyoxal Market research report is 2020-2030.

Glyoxal Market is dominated by APAC region.

Rapid urbanization and growth of the middle-class population ensure in increasing the lifestyle standards of the urban population.

BASF SE (Germany), Silver Fern Chemical Inc. (The U.S.), Eastman Chemical Company (The U.S.), The Dow Chemical Company (The U.S.), Huntsman Corporation (The U.S.), Formosa Plastics Corporation (Taiwan), Royal Dutch Shell plc (The Netherlands), Amzole India Private Limited (India), Hubei Hongyuan Pharmaceutical Technology Co., Ltd (China), Zhonglan Industry Co., Ltd (China)