August 14, 2019 by Steve Blade
Fact.MR has published a recent study on the glyoxal market and published a report titled, “Glyoxal Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2018 to 2027.” The eight year outlook of the glyoxal market provides a comprehensive analysis of the glyoxal market which covers all the vital facets of the industry landscape. The glyoxal market report covers important market insights starting from market research summary to an exhaustive discussion on the research methodology followed during the course of the glyoxal market research analysis. Important market drivers, restraints, opportunities and trends in glyoxal market are covered that hold significant influence on the growth of the glyoxal market during the period of assessment.
Glyoxal Demand as a Crosslinking Agent Continues to Grow
Owing to its low moisture retention characteristics, application of glyoxal as a crosslinking agent is highly popular across end-use industries such as textiles, paper & pulp, oil & gas, leather, cosmetics and wood hardening. End-use industries continue to leverage benefits of glyoxal and consistent research and development activities ensure a promising future of the glyoxal marketplace with a number of innovative solutions already in the pipeline.
To deliver application-specific solutions, manufacturers closely work with the industry to align with the specific requirements. As a crosslinking agent, glyoxal provides comprehensive solutions for a huge number of chemical applications and hence is expected to witness significant demand for glyoxal in the coming years.
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Glyoxal Market – Segmentation
The glyoxal market is thoroughly studied for the opportunities, demand trends and other forecast factors prevailing in the marketplace and hold significant influence on the future growth trajectory of the glyoxal market. Based on the thorough assessment, the glyoxal market is segmented on the basis of end use and application. In addition, the glyoxal market segmentation also covers regional analysis along with an extensive country-wise assessment of the glyoxal market.
Textile Industry Prevails a Key End Use Vertical
As a product of choice for a number of applications, glyoxal finds extensive application in the textile industry. In textile manufacturing, the efficient crosslinking property of glyoxal leads to decreased water uptake during cellulose crosslinking. As glyoxal can efficiently bind to cellulose and avoid cellulosic swelling, its utilization in the textile industry continues to grow. Also, with the textile industry witnessing a significant transformation on the back of evolving trends in the clothing landscape with increased demand for softer, non-woven and wrinkle-free fabrics. Increasing urbanization is further opportunities for new textile demand with urban consumers spending more on high-end clothing.
According to the World Trade Statistical Review 2018 by WTO, the world textile and apparel exports witnessed an increase of 4.2% and 2.8% in 2017 over 2016. With China, India and EU 28 at the helm of textile exports, the industry is expected to witness significant growth in the coming years, thereby alluding at industry profitability for glyoxal manufacturers.
Multinationals Continue to Consolidate Their Position, Holding Over 80% Share
BASF SE is the front runner in the glyoxal market, with around 80 thousand metric tons of glyoxal annual output and over 30% of the glyoxal market revenues. The company is a prominent provider of glyoxal in the enhanced oil recovery application as well as in the gas industry. DowDuPont and Zhonglan Industry Co. Ltd are close competitors of BASF trying to broaden their consumer base and introduce novel blends with traditional excellence in chemical manufacturing to stand out in the market.
Hubei Hongyuan Pharmaceutical Technology Co., Ltd. and Mitsubishi Chemical Corporation are other important competitors and with DowDuPont and Zhonglan Industry, the four companies collectively hold over 52% of the glyoxal market revenue share. Other leading players in the glyoxal market are Huntsman Corporation, Amzole India Pvt. Ltd. and Celanese Corporation who are also important contenders in the glyoxal marketplace.
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