August 19, 2019
Global glycol ether market is anticipated to surpass US $8.5 billion by the year 2025, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2019-2025.
The global market of glycol ether is majorly divided in two segments, E-series and P-series, based on the product type. The E-series glycol ether is known to have properties such as steady evaporation rate, solubility in water, miscibility in organic solvent, and easy coalescing which are beneficial in the manufacturing of coatings and paints. Rapid urbanization together with several advancements have led to the construction of smart cities and robust renovation activities, which in turn is propelling the demand for E-series glycol ether.
Considering the P-series glycol ether, the tripropylene market is anticipated to cross US $375 million from coating application by 2025. The market growth can be attributed to its use in automotive sector for protection against environmental threats such as acid rains, oxidation of vehicle body, UV radiations, and dry & wet depositions. Evolving consumer demands like automated vehicles and improved breaking & safety systems along with strict environmental regulations about fume levels will further fuel the growth of TPM market.
Another P-series product, dipropylene glycol methyl ether (DPM) market from adhesives applications is projected to witness a growth rate of 5% over the forecast timeframe, owing to its extensive use across the automotive industry as lighter substituent for nuts & bolts. The compatibility of the product with aqueous solutions and its wide working temperature range enables it to be used for external as well as internal applications in automobile industry. The growing demand for lightweight electrical and hybrid vehicles with lesser emissions and high fuel efficiency will foster the DPM market growth.
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In terms of regional contribution, ethylene glycol butyl ether acetate (EGBEA) market of Europe is predicted to surpass US $35 million from chemicals application by 2025, pertaining to the initiatives taken by the government to modernize chemical industry and rapid urbanization in the region. The product possesses properties such as high solvency rate, biodegradability, electrical resistance, and slow evaporation rate. It is also used in manufacturing paints, inks, coatings and automobile refinishes, thereby enhancing the market share.
The key contenders of glycol ether market are constantly focusing on developing new products and improving their regional outreach. SABIC, Biesterfeld AG, BASF SE, Sasol, Matrix Chemicals, Huntsman Corporation, Eastman Chemical, Shell, and HanNong Chemicals are some of major players in the product market.