The market for glyoxal is expected to register a CAGR of about 5% globally during the forecast period. Increasing applications of glyoxal in fabrics and growing demand for glyoxal as an intermediate are driving the market growth. Inhalation risks and associated fire hazards in the manufacture of glyoxal are expected to hinder the growth of the market studied.
Key Market Trends
Increasing Demand for Glyoxal as an Intermediate and Crosslinkers
- Glyoxal has been increasingly used as a chemical intermediate in the production of pharmaceuticals and dyestuffs. The ability of glyoxal to form heterocyclic compounds makes it suitable for the production of resins and for cross-linking functionalized macromolecules such as cellulose, polyacrylamides, polyvinyl alcohol, keratin, and other polycondensates.
- Owing to its viscosity characteristics, glyoxal also has been used in cosmetics. Cosmetic products use hydroxyl-ethyl cellulose R-types in creams, emulsions, lotions, gels and oils for skin, face masks, tinted bases, different powders, hair-care products, shaving, and sunbathing products.
- The Asia-pacific textile industry witnessed a major growth in recent times. Glyoxal is being used in the textile industry as a crosslinker and fiber treating agent. It can increase the spinning of cotton, nylon and can be used for other anti-wrinkle applications.
- Glyoxal, as an intermediate, is used in the production of different chemicals, such as glyoxylate, imidazole, methyl imidazole, metronidazole, and allantoin. Pharmaceutical industries have been largely using these chemicals to produce drugs, such as pyrazinamide and antibiotics.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific is expected to dominate the global market, owing to the highly developed textile sector in China, coupled with the continuous investments done in the region to advance the pharmaceutical and agriculture sectors through the years.
- Moreover, the growing infection issues in the country and with the most population getting affected with various diseases and increased the need for various medical attention in the country is increasing the demand for pharmaceutical industries by using glyoxal as an intermediate.
- According to the Coatings World, Asia-Pacific leads the global paints and coatings market, followed by Europe in recent years. Globally, Asia-Pacific alone occupies more than 40% share of the coatings market.
- Globally, China is a dominant market in the leather manufacturing industry. Glyoxal intermediates help in maintaining leather quality. There has been an increase in the demand for high-quality demand for leather products in the country lately.
- Over 50% of the leather produced currently is estimated to go into leather footwear, followed by furniture, clothing, leather goods, and the automotive industry.
- Increasing usage of intermediates and crosslinkers, paints and coatings, and usage in textiles are expected to drive the market for glyoxal through the years to come.
The global glyoxal market is partially consolidated in nature with a few major players dominating a significant portion of the market. Some of the major companies are BASF SE, The Dow Chemical Company, Weylchem, Thermo Fisher Scientific Inc., and INEOS, among others.
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