Glycol Ethers Market - Growth, Trends, and Forecast (2019 - 2024)

The Market is Segmented by Type (E-series and P-series), Application (Solvent, Anti-icing Agent, Hydraulic and Brake Fluid, and Chemical Intermediate), End-user Industry (Paints and Coatings, Printing, Pharmaceuticals, Cosmetic and Personal Care, Adhesives, and Others End-user Industries), and Geography.

Market Snapshot

Glycol Ethers Market - Market Summary
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

Key Players:

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Market Overview

The market for glycol ethers is expected to register a CAGR of around 5.6%, during the forecast period (2019-2024). The major factors driving the growth of the market studied are the increasing usage in cosmetics and personal care products, and accelerating demand in the paints and coatings industry. On the flipside, REACH and EPA regulations regarding the usage of glycol ethers, and emergence of new products, like cellulosic ethanol, to use as a solvent for cleaning agents are restraining the growth of the market studied.

  • The paints and coatings segment dominated the market in 2018. It is expected to grow during the forecast period, with an anticipated robust demand for paints and coatings from various industries, such as construction, automotive, and packaging.
  • The growing awareness leading to excess demand for P-series glycol, for low emission oxygenated diesel fuel, is likely to provide opportunities for the market studied, during the forecast period.
  • Asia-Pacific dominated the market across the globe due to the significant growth in demand and thereby, production in industries, such as paints & coatings, adhesives, and cosmetic & personal care.

Scope of the Report

The scope of the glycol ethers market report includes:      

Type
E-series
Methyl Glycol Ether
Ethyl Glycol Ether
Butyl Glycol Ether
P-series
Propylene Glycol Monomethyl Ether (PM)
Dipropylene Glycol Monomethyl Ether (DPM)
Tripropylene Glycol Monomethyl Ether (TPM)
Other Propylene Glycol Ethers
Application
Solvent
Anti-Icing Agent
Hydraulic and Brake Fluid
Chemical Intermediate
End-user Industry
Paints and Coatings
Printing
Pharmaceuticals
Cosmetics and Personal Care
Adhesives
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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Key Market Trends

Paints and Coatings Segment to Dominate the Market

  • Glycol ether helps in the formation of a proper film during coating cure, and acts as an active solvent in resins. It helps in optimizing the evaporation rate of the solvent in a coating. It is also helpful in improving the flow out characteristics of paint, and in eliminating brush marks during painting.
  • The paints and coatings industry is the largest consumer of glycol ethers. Paints and coatings is extensively used in various industries, such as construction, automotive, and packaging.
  • Residential and commercial construction has been increasing significantly across the world, which is driving the demand for glycol ethers, for their application in the production of architectural paints and coatings.
  • Asia-Pacific has been witnessing a growth of residential and commercial construction projects, due to growing housing needs, and noticeable growth opportunities prevailing in the region.
  • In the Middle East, the government's efforts to develop non-oil industries are leading to investments in industries, such as tourism, hospitality, healthcare, further driving the demand for, and investments in the commercial infrastructure.
  • North America also witnessed noticeable increase in the residential construction and renovation projects in the country since 2018. Steady economic recovery in Europe has triggered the construction activities in the region.
  • Additionally, in the global automotive industry, though production declined in 2018 by 1.1%, factors, such as increasing investments in the sector to increase production, continuous efforts of automakers to develop and launch new cars, and efforts toward development and promotion of electric vehicles of the industry, are likely to drive the growth of the automotive industry.
  • Hence, the aforementioned trends are likely to increase the demand and production in the paints and coatings market, which may further drive the demand for raw materials, like glycol ethers.
Glycol Ethers Market - Segmentation

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Asia-Pacific Region to Dominate the Market

  • The Asia-Pacific region dominated the market share, in 2018. The demand for products, such as paints, coatings, and adhesives, have been increasing from the end-user industries, such as automotive, construction, electronics, and packaging.
  • Countries, such as India, China, the Philippines, Vietnam, and Indonesia, have numerous construction projects and investments planned, which may increase the demand for architectural paints, coatings, and adhesives.
  • Countries, such as India, Thailand, Vietnam, Pakistan, and Malaysia, have recorded noticeable growth in automotive production. China, the world’s largest automotive producer, has plans to increase the production of electric vehicles (EVs) to 2 million a year, by 2020, and 7 million a year by 2025.
  • Furthermore, in the cosmetics and personal care industry, the demand is increasing at a noticeable rate in the region, owing to the influence of western culture and increased cosmetic demand from youth population. With this, the market players are increasing investments and production, thereby driving the demand for raw materials, including glycol ethers.
  • The pharmaceutical industry in India, South Korea, and ASEAN countries is witnessing huge investments from foreign countries, in order to exploit the market opportunities, which may increase the demand for glycol ethers in the region, during the forecast period.
  • Hence, such favorable market trends are likely to drive the growth of the glycol ethers market in the region, during the forecast period.
Glycol Ethers Market - Regional Trends

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Competitive Landscape

The glycol ethers market is fragmented, with numerous players holding insignificant market share to affect the market dynamics individually. Some of the noticeable players in the market include BASF SE, Eastman Chemicals Company, Royal Dutch Shell, and Dow, among others.

Major Players

  1. BASF SE
  2. DowDuPont
  3. Eastman Chemicals Company
  4. Royal Dutch Shell
  5. LyondellBasell Industries NV

* Complete list of players covered available in the table of contents below

Glycol Ethers Market - Market Concentration

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Use in Cosmetics and Personal Care Products

      2. 4.1.2 Accelerating Use in Paints and Coatings Industry

    2. 4.2 Restraints

      1. 4.2.1 REACH and EPA Regulations Regarding Glycol Ether Use

      2. 4.2.2 Emergence of New Products, like Cellulosic Ethanol, to Use as a Solvent for Cleaning Agents

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porters Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 E-series

        1. 5.1.1.1 Methyl Glycol Ether

        2. 5.1.1.2 Ethyl Glycol Ether

        3. 5.1.1.3 Butyl Glycol Ether

      2. 5.1.2 P-series

        1. 5.1.2.1 Propylene Glycol Monomethyl Ether (PM)

        2. 5.1.2.2 Dipropylene Glycol Monomethyl Ether (DPM)

        3. 5.1.2.3 Tripropylene Glycol Monomethyl Ether (TPM)

        4. 5.1.2.4 Other Propylene Glycol Ethers

    2. 5.2 Application

      1. 5.2.1 Solvent

      2. 5.2.2 Anti-Icing Agent

      3. 5.2.3 Hydraulic and Brake Fluid

      4. 5.2.4 Chemical Intermediate

    3. 5.3 End-user Industry

      1. 5.3.1 Paints and Coatings

      2. 5.3.2 Printing

      3. 5.3.3 Pharmaceuticals

      4. 5.3.4 Cosmetics and Personal Care

      5. 5.3.5 Adhesives

      6. 5.3.6 Other End-user Industries

    4. 5.4 Geography

      1. 5.4.1 Asia-Pacific

        1. 5.4.1.1 China

        2. 5.4.1.2 India

        3. 5.4.1.3 Japan

        4. 5.4.1.4 South Korea

        5. 5.4.1.5 Rest of Asia-Pacific

      2. 5.4.2 North America

        1. 5.4.2.1 United States

        2. 5.4.2.2 Canada

        3. 5.4.2.3 Mexico

      3. 5.4.3 Europe

        1. 5.4.3.1 Germany

        2. 5.4.3.2 United Kingdom

        3. 5.4.3.3 France

        4. 5.4.3.4 Italy

        5. 5.4.3.5 Rest of Europe

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle East & Africa

        1. 5.4.5.1 Saudi Arabia

        2. 5.4.5.2 South Africa

        3. 5.4.5.3 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 BASF SE

      2. 6.4.2 Eastmen Chemical Company

      3. 6.4.3 FBC Chemical Corp.

      4. 6.4.4 Ineos Group Limited

      5. 6.4.5 KH Neochem Co. Ltd

      6. 6.4.6 LyondellBasell Industries NV

      7. 6.4.7 Nippon Nyukazai Co. Ltd

      8. 6.4.8 Oxiteno

      9. 6.4.9 Recochem, Inc. (H.I.G. Capital)

      10. 6.4.10 Royal Dutch Shell PLC

      11. 6.4.11 Sasol Limited

      12. 6.4.12 DowDuPont

      13. 6.4.13 India Glycols Ltd

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Growing Awareness Leading to Excess Demand for P-series Glycol for Low Emission Oxygenated Diesel Fuel

**Subject to Availability

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