Glycol Ether Market Outlook 2031
The global glycol ether market size was USD 7.29 Billion in 2022 and is expected to reach USD 12.21 Billion by 2031 register a substantial CAGR 5.9% during the forecast period, 2023–2031. The growth of the market is attributed to the increasing demand for personal care and cosmetics products. Moreover, expanding use of chemical compound in paint & coating industry is expected to drive the market growth.
Glycol ethers are class of solvents based of alkyl ethers of propylene or ethylene glycol. Depending on their formation, ethylene oxide and propylene oxide are divided into P-series and E-series. They are generally used as solvents in different industries such as coatings and paints. P-series glycol ethers are generally used in aerosols and cleaners, while E-series glycol ethers are used as coalescing aids in paint formulation. Other applications include ink, textile, agriculture, and adhesive products.
The demand for P-series is more than the E-series due to their low toxicity level. Methyl ether acetate are extensively used in ink application. Propylene glycol butyl ether demand is high owing to its usage in laboratory products, treatment of metals & non-metals, and in water treatment formulation.
Glycol Ether Market Trends, Drivers, Restraints, and Opportunities
- Rapid growth in the commercial and residential sector is expected to drive the market growth.
- According to World Bank, the expenditure on the construction industry is increasing at a rapid pace, spurring the demand for glycol ether during the forecast period.
- Stringent REACH and EPA guidelines with respect to the utilization of glycol ethers and rising number of alternatives, such as cellulosic ethanol, to use as a dissolvable for cleaning agents can restrain the development of the market.
- Improving flow characteristics of glycol ether can create lucrative opportunities for market players in the projected timeline.
Scope of The Glycol Ether Market Report
The report on the global glycol ether market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Glycol ether market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Types (P-series [Propylene Glycol Monomethyl Ether, Dipropylene Glycol Monomethyl Ether, and Tripropylene Glycol Monomethyl Ether] and E-series [Methyl Glycol Ether, Ethyl Glycol Ether, and Butyl Glycol Ether]), Applications (Hydraulic and Brake Fluid, Solvents, Chemical Intermediates, and Anti-icing Agents), End-User Industries (Adhesives, Printing, Pharmaceuticals, Cosmetics and Personal Care, Paints & Coatings, and Other End-user Industries)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Royal Dutch Shell; Eastman Chemical Company; Lyondell Basell Industries NV; BASF SE; and Dow
Glycol Ether Market Segment Insights
series segment to account for a large market share
Based on types, the market is bifurcated into P-series and E-series. The P-series segment is sub-segmented into propylene glycol monomethyl ether, dipropylene glycol monomethyl ether, and tripropylene glycol monomethyl ether. On the other hand, the E-series segment is divided into methyl glycol ether, ethyl glycol ether, and butyl glycol ether. Growing awareness regarding low discharge oxygenated diesel fuel is substantially providing opportunity for the P-series market segment.
Hydraulic and brake fluid segment is anticipated to expand at significant pace
In terms of applications, the market is classified as hydraulic and brake fluids, solvents, chemical intermediates, and anti-icing agents. The hydraulic and brake fluid segment is estimated to account for a significant market share in the projected timeline. Growing demand for hydraulic fluid in the construction industry is driving the growth of the market segment.
Paint & coating segment is expected to grow at a rapid pace
Based on end-user industries, the market is segmented into adhesives, printing, pharmaceuticals, cosmetics and personal care, paints & coatings, and others end-user industries. The paint & coatingsegment is anticipated to grow at a rapid pace during the forecast period owing to rising demand for automobiles and growing construction activities across the globe.
Asia Pacific is anticipated to constitute a key market share
In terms of regions, the glycol ether market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in Asia Pacific is expected to constitute a key share of the market during the forecast period as government state bodies in countries such as India and China are focusing on industries such as automotive, construction, paints & coatings, and packaging.
The Glycol ether market has been segmented on the basis of
- Propylene glycol monomethyl ether
- Dipropylene glycol monomethyl ether
- Tripropylene glycol monomethyl ether
- Methyl glycol ether
- Ethyl glycol ether
- Butyl glycol ether
- Hydraulic and Brake Fluids
- Chemical Intermediates
- Anti-icing Agents
- Cosmetic and Personal Care
- Paints and Coatings
- Other End-user Industries
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
Key players competing in the Glycol ether market are Royal Dutch Shell; Eastman Chemical Company; Lyondell Basell Industries NV; BASF SE; and Dow.
Some of these players are adopting several business strategies, which includes acquisitions, mergers, collaborations, partnerships, capacity expansion, and product launches to enhance their market share.