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Glyoxal Market Analysis

ID: MRFR//3333-HCR | 139 Pages | Author: Priya Nagrale| July 2024

Many factors affect glyoxal demand, growth, and competition. Glyoxal is a versatile chemical molecule used in many goods. Glyoxal's use in textiles, resins, and other chemicals drives the market. It improves wrinkle resistance and colorfastness in textile finishing by crosslinking with proteins and fibers.

Glyoxal market dynamics are driven by the textile and garment sector. Glyoxal-based finishing chemicals are used due to textile functionality and sustainability concerns. As the textile industry prioritizes eco-friendly and high-performance solutions, glyoxal is becoming a popular fabric treatment. Glyoxal's robust and practical coatings meet textile industry needs.

Glyoxal market dynamics are heavily influenced by raw material prices and production costs. Glyoxal is created by oxidizing ethylene glycol, and raw material prices affect production costs. Manufacturers track these economic aspects to make educated decisions, adjust to cost fluctuations, and stay competitive in the glyoxal industry.

Environmental factors influence glyoxal market dynamics. Chemical industry operations and products are being scrutinized for environmental impact. This is prompting glycoxal makers to create eco-friendly formulas. Regulatory actions supporting eco-friendly chemicals and bio-based glyoxal help the sector move toward sustainability.

Technological advances drive glyoxal market dynamics. Research and development create new glyoxal formulations and applications, boosting its use in numerous industries. Technological innovation improves production methods, features, and customized solutions, giving producers tools to meet industry needs.

Industry leaders in the glyoxal market collaborate, merge, and acquire. Partnerships let organizations exchange expertise, harness strengths, and grow product offerings. These strategic actions boost innovation and glyoxal industry growth.

Consumer choices and market developments also influence glyoxal market dynamics. Textile and chemical processors want materials that balance performance, cost, and environmental responsibility. To meet these demands, manufacturers create glyoxal-based goods that are sustainable, useful, and eco-friendly.

Covered Aspects:

Report Attribute/Metric Details

Global Glyoxal Market Overview


The Glyoxal Market Value is expected to grow at a CAGR of 5.20% due to the increased demand in the textiles industry during the forecast period. Glyoxal is a liquid organic substance with a melting point of 15 degrees Celsius. It is a crucial ingredient in organic synthesis processes because it can resist temperatures of up to 150°C. This molecule, on the other hand, is very unstable and polymerizes exothermically. Because glyoxal is easily biodegradable and environmentally acceptable, it has gained a large number of customers. As a result, end-use sectors such as oil and gas, paper packaging, leather, textiles, cosmetics, and furniture have gained access to the market. It is employed in the textile and leather tanning industries because of its good crosslinking polymer properties. It is utilized as a sulfur scavenger in the oil and gas industry to decrease corrosion and other related concerns. This substance is utilized as a cross-linking polymer in the cosmetics sector to increase the viscosity of emulsions. It is used in the wood industry to cover and preserve furniture from moisture. Because of these factors, it is estimated that the Glyoxal Market will develop at a faster CAGR over the forecast period. Because of the large utilization of the compound in this end-use industry, the oil & gas industry is a major driver of the global market. This protects the safety of process equipment.

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



  • BASF SE (Germany) used a variety of organic and inorganic growth tactics to increase its market position. This main player used mergers and acquisitions as one of its key growth strategies to build and expand its regional presence to meet the growing demand for glyoxal from emerging and developed nations alike.

  • In January 2022, Cantabio Pharmaceuticals, Inc. also received an adequate amount of grant from the Michael J. Fox Foundation for the project research on Parkinson's Research. Cantabio's in-house drug development program is focusing on reducing biochemical stress, such as protein aggregation, oxidative, and glyoxal stress, which are the root causes of various aging-related illnesses.


Intended Audience



  • Global Glyoxal Manufacturers

  • Traders and Distributors of Global Glyoxal

  • Research and Development Institutes

  • Potential Investors

  • Raw Material Suppliers

  • Nationalized Laboratory

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