Glycidol Market Outlook
The global glycidol market was valued at USD 8,190.2 Million in 2019 and is projected to reach USD 13,205.5 Million by 2027, expanding at a CAGR of 7.8% during the forecast period. Glycidol is an organic compound which contains alcohol and epoxide functional groups. Glycidol has a variety of industrial uses because it is bifunctional. The compound is a slightly viscous liquid that is slightly unstable and is not often encountered in pure form.
Glycidol Market Dynamics
Rapid industrialization and urbanization are boosting the need for additives used in the paint industry. Moreover, the growth of the middle-class population in emerging economies is fueling the global paint industry. This fuels the global glycidol market, as the paint industry requires glycidol, as an additive.
Key players focus on launching cost effective paint products using glycidol as an active ingredient, thus boosting market growth. Moreover, mergers & acquisitions and other expansion activities by companies are driving the market in various regions.
The growth of the construction industry in developing countries is fueling the demand for plastics, which in turn, is driving the glycidol market growth. Moreover, the expansion of the market can be attributed to the rise in foreign investment (FDI) requirements and norms for better industrial and public infrastructure, is boosting the need for additives such as glycidol. However, strict government regulations on the use of glycidol, due to its environmental effect are hampering the growth of the market in some countries across the globe.
Glycidol Market Segmental Outlook
Based on types, the Global Glycidol Market can be segmented into glycidol 96%, glycidol 97%, glycidol 98% and other. The glycidol 96% segment is anticipated to expand at a CAGR of 6.5% during the forecast period due to increasing industrial applications. Moreover, this segment held a significant share of the market in 2019, as it is a highly preferred compound used for paint preparation.
Glycidol Market Segment Insights
Glycidol 96% has been used in the synthesis of hyperbranched polyglycerol (HPG) via ring opening reaction. These HPGs are being considered as alternatives to PEGs for developing antifouling surfaces due to their thermal and oxidative stability. It can also be used in the synthesis of ethoxy ethyl glycidol ether. Glycidol 96% may also be used in the preparation of chelating polymers for borate removal.
Glycidol 97% is used as stabilizer in manufacturing of vinyl polymers, intermediate in synthesis of amines, glycerol, and glycidol ethers. Also, Glycidol 97% is employed in the synthesis of chiral (E)-allylic alcohol sidechains for introduction into prostacyclin and prostaglandin frameworks by cross-metathesis.
Glycidol 98% is used as an intermediate for preparing of fluoromisonidazole. It can also be used as a starting material in the synthesis of glycerophosphocholines
Glycidol’s purity range also includes purity range less than 96% and more than 98. These are sensitive to moisture and sensitive to light. They can be polymerized by heating above room temperature. These may darken on storage. Glycidols if stored for two weeks protected from light indicated definite decomposition at 140° F, and strongly indicated instability at 77° F. They are incompatible with strong oxidizers and nitrates. These will attack some forms of plastics, rubber and coatings.
Based on applications, the market can be divided into epoxy resin thinner, modifier, stabilizer, and others. The epoxy resin thinner segment is expected to hold the significant share of the global market as it is having high degree of chemical resistance, toughness, rigidity and has outstanding adhesion over a variety of substrates, which makes it useful in coatings and adhesives.
Glycidol Market Regional Outlook
In terms of regions, the global Glycidol market has been fragmented into Europe, North America, Latin America, Asia Pacific and Middle East & Africa. North America is a promising region for the market. The region constituted significant share of the market in 2019. Significant market share of North America is attributed to the presence of advanced technologies in the chemical industry.
New energy infrastructure and radical changes in chemical industry, towards renewable energy sources, creates opportunities for industrial growth in Europe. The market in Asia Pacific region is expected to grow at a significant rate during the forecast period. Rationalization of capacity will gain traction in this market. Glycidol has its wide application in pre-engineered buildings for material, and structures frameworks. Rising demand for consumer durables and capital goods is supporting market growth in Latin America.
Key Benefits for Industry Participants & Stakeholders
- Industry drivers, restraints, and opportunities covered in the study
- Neutral perspective on the global glycidol market performance
- Recent industry trends and developments
- Competitive landscape & strategies of key players
- Potential & niche segments and regions exhibiting promising growth covered
- Historical, current, and projected market size, in terms of value
- In-depth analysis of the global glycidol market
- Glycidol 96%
- Glycidol 97%
- Glycidol 98%
- Epoxy Resin Thinner
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- Acros Organics
- Meryer (Shanghai)Chemical Technology
- KANTO CHEMICAL
- LGC Group
- Key players in the market include HBCChem, Acros Organics, Meryer (Shanghai)Chemical Technology, Wako, NacalaiTesque, KANTO CHEMICAL, LGC Group, and Atomaxchem.
- These companies are considered as prominent players in global glycidol market based on their research development (R&D) activities, revenue, product offering, regional presence, and supply chain management system.
- Key players in the market are principally engaged in mergers & acquisitions of regional players to increase their sales and footprint across the globe.
- Companies can withstand competition in the glycidol market by adopting latest technologies, increasing consumer awareness, and partnerships with other companies in glycidol market.