Market Overview:
Glyoxal is known for its cross linking
abilities. Additionally, this application includes usage as a cross-linking
agent linked with cellulose in order to avoid cellulosic swelling. The other
characteristic of this compound is owing to its low moisture retention. With
these reasons, Glyoxal is used in various industries including oil & gas, paper
packaging, leather, textiles, cosmetics, furniture.
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Some of the prominent factors that increase the growth of
Glyoxal Market are rapid industrialization, rising middle class population and
their spending, and construction industry. Rapid urbanization and increasing
construction activities in order to house the expanding population are
predicted to increase the market for Glyoxal in the forecast period. Moreover,
rising middle class population and their spending to enhance their standards of
living is likely to propel the market in the forecast period.
Key Players:
Some of the prominent players in the Global Glyoxal Market are BASF SE (Germany),
Silver Fern Chemical Inc. (The U.S.), Eastman Chemical Company (The U.S.), The
Dow Chemical Company (The U.S.), Huntsman Corporation (The U.S.), Formosa
Plastics Corporation (Taiwan), Royal Dutch Shell plc (The Netherlands), Amzole India
Private Limited (India), Hubei Hongyuan Pharmaceutical Technology Co., Ltd
(China), Zhonglan Industry Co., Ltd (China), and among others.
Market Segmentation:
The Global Glyoxal Market is segmented on the basis of
application, end use industry and region. Based on the application, the market
is segmented into paper, cross-linking polymer, sulfur scavenger, wood
hardening, and others. Based on the end use industry, the market is segmented
into oil & gas, paper packaging, leather, textiles, cosmetics, furniture.
Among the end use segment, oil & gas industry has share in the Global
Glyoxal Market in the forecast period owing to their efficient solution for
sulfur scavenging applications. The growth in the Glyoxal Market can attributed
to wide utilization of cross linking polymer characteristic which is a major
application in textiles, furniture and paper packaging industry. In textile
industry, cross linking characteristic leads to obtain wrinkle free textile
material whereas in paper packaging it is used for its low moisture retention
characteristic. This moisture retention characteristic is also used for wood
hardening. This cross linking characteristic is the major driver in the Glyoxal
Market for the forecast period. Additionally, the cross linking characteristic
is utilized in cosmetics to better the viscosity of the emulsions and in
leather industry it is used to protect the leather quality.
Regional Analysis:
The global market is segmented into Asia Pacific, North America,
Europe Latin America, and the Middle East & Africa. Among these regions,
Asia Pacific is the largest market accounted for Glyoxal production. Rapid
growth in the usage of cross-linking polymers in the textile industry is
anticipated to drive the market growth.
Increasing oil consumption in North America has consequently
opened up the market and it is anticipated to increase in the forecast peiod
for secondary petroleum products such as Glyoxal where this compound is used as
a sulfur scavenging agent in the oil & gas industry. After the recent shale
gas recovery, the import of raw materials is likely to reduce over the forecast
period. In the Middle East region, nations like the U.A.E, and Saudi Arabia has
situated themselves as a travel and tourism industry focus. Also, there are new
proposed developments extends in the forecast period. It is foreseen that as
there is developing interest for Glyoxal in this area, setting up new
capacities in the forecast period will guarantee development of Glyoxal Market
in this region. After the 2009 recession crisis, Latin American countries are
picking up the market trend slowly. As a consequence of the crisis, domestic
prices continue to rise in this region. People will be looking for economic
stability and also consumer spending is least expected in the forecast period.
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