The global glyoxal market size was USD 287.6 Million in 2021 and is expected to register a revenue CAGR of 4.4% over the forecast period, according to the latest report by Reports and Data. Market revenue growth is expected to be driven by the growing use of glyoxal in paint and other coatings.
The chemical compound glyoxal can be used to cure epoxy resins. The substance is found in a variety of products, including paints and other coatings. Construction companies use epoxy resins to create solid adhesives and coatings. As they have good resistance to chemicals and heat, they can be used in a variety of applications. A polymer like epoxy resin is made up of two types of molecules that react with curing agents to produce the final product. This reaction causes the product to harden, forming an adhesive or hard surface. Therefore, glyoxal is mainly used to crosslink epoxy resins containing nitrogen atoms instead of oxygen.
Some of the leading players in the global Glyoxal Market:
BASF SE, Thermo Fisher Scientific, Inc., Dow, Silver Fern Chemical, Synthomer plc, Huntsman International LLC, Reliance Industries Limited, INEOS, Amzole India Pvt. Ltd, and Tokyo Chemical Industry Co. Ltd.
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Some Key Highlights From the Report
- Crosslinking segment is expected to register a rapid revenue growth rate during the forecast period owing to the growing need to increase the crystallinity of polymer networks to improve their mechanical strength. Also, powder coatings, liquid can coatings, and coil coatings use glyoxal to produce glycoluril-based amino crosslinking resins. Glyoxal is widely used to crosslink materials in a variety of industries, including textiles, oil gas, paper packaging, leather, cosmetics, and personal care products. These factors are expected to drive revenue growth of the segment during the forecast period.
- Online segment accounted for the largest revenue share over the forecast period owing to the growing need for time and effort saving. Increasingly, online distribution channels are becoming popular because they provide a wide range of products and allow consumers to compare prices. Increasing convenience for customers and good discounts on products have also contributed to the growth of the segment.
- The cosmetics segment is expected to register a steady revenue growth rate during the forecast period. Glyoxal is used in face and neck cosmetic products, both as basecoats and undercoats. In addition, glyoxal is safe to use in nail care products at 1.25% concentrations. The chemical is an antimicrobial preserving agent that produces formaldehyde in beauty care products. As a result, it is used for cross-linking hydrocolloids in cosmetics to improve their quality.
- Market in Asia Pacific is expected to accounted for the largest revenue share in the global market during the forecast period. Rapid growth rate of the market is attributed to the increasing presence of major market players such as Reliance Industries Limited, Amzole India Pvt. Ltd, and Tokyo Chemical Industry Co. Ltd., among others which are expected to boost market revenue growth in the region. The market dominance of Asia Pacific is also attributed to increased demand for textiles, leather goods, and cosmetics.
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Glyoxal Market Segmentation:
Application Outlook:
- Crosslinking
- Intermediate
- Others
Distribution Channel Outlook:
- Online
- Offline
Industry Vertical Outlook:
- Textile
- Leather
- Resins Polymers
- Cosmetics
- Paper Packaging
- Oil Gas
- Pharmaceutical
- Others
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
Key Attentions of Glyoxal Market Report:
The report offers a complete and broad perspective on the global Glyoxal Market.
The market statistics depicted in the various Glyoxal Market segments give a complete picture of the industry.
The market growth drivers and challenges affecting the development of the Glyoxal Market are analyzed in detail.
The report will aid in the analysis of key competitive market scenarios and Glyoxal Market dynamics.
Major players, Glyoxal Market key companies, investment feasibility, and study of new market entrants are offered.
The scope of development of the Glyoxal Market in each market segment is covered in this report.
The macro and microeconomic factors that influence the Glyoxal Market progress are detailed in this report.
The upstream and downstream components of the Glyoxal Market and a complete value chain are explained.
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