LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global glyoxal market is projected to grow to USD 1,867.2 million by 2021, at a CAGR of nearly 6% over the forecast period.
This research report titled ‘Global Glyoxal Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
Glyoxal is almost colorless or pale yellow and nearly odorless organic compound. It is a good crosslinking agent for starch, polyacrylamide, polyvinyl alcohol, proteinaceous materials. The increasing demand for plastics, the economic growth in APAC, and the increasing demand for cosmetics and personal care products are some of the key factors driving the glyoxal market growth.
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Based on the applications, the report categorizes the global glyoxal market into the following segments:
- Oil and gas
- Textile
- Resin and polymer
- Paper packaging
- Cosmetics
- Leather
- Other applications
The top three revenue-generating application segments in the global glyoxal market are discussed below:
Oil and gas
“Glyoxal is commonly used in oil recovery in the oil and gas industry. It helps in increasing the viscosity of the fracturing fluid by crosslinking the polymers it contains. The viscous fracturing fluids can transport the proppant sand or the small beads that are added to it,” says Hitesh Bhatia, a lead analyst at Technavio for specialty chemicals research.
The recent shale gas discovery in North America has led to an increase in oil refining activities in the US as well as Mexico is anticipated to have a positive effect on the global glyoxal market. There is also an expanding demand for processed oil products in countries with improving economies such as China, India, Thailand, Vietnam, South Korea, and the other countries in Southeast Asia.
Textile
The global textile market is flourishing across the globe, induced by the emerging economies of China, Bangladesh, India, and Mexico. The decline in cotton prices in India is anticipated to act as a favorable factor for textile manufacturing in this region. Also, the production of wool using the non-mulesed method in Australia is also projected to improve access to raw materials.
Glyoxal is used to bind cellulose by avoiding swelling in the textile industry. It is used in producing soft and wrinkle-free textile materials by cross-linking cellulose. In manufacturing textile, glyoxal decreases the uptake of water in crosslinking cellulose. The growth in the textile industry with the growing sense of fashion in both developed and developing nations are expected to drive the market.
Resin and polymer
Polymers are widely used in the packaging, construction, electrical and electronics, and automotive industries. Polyethylene (PE), polypropylene (PP), polyvinyl chloride (PVC), polyethylene terephthalate (PET), polystyrene, and engineering plastics are most commonly used across various end-user industries such as construction, transportation, and packaging.
“Glyoxal is used in linking a wide range of polymers such as starch, cellulose, proteinaceous material, polyacrylamide, and polyvinyl alcohols. Glyoxal can alter physio-chemical properties of polymers, which increases the viscosity of the polymer solutions and decreases water uptake of the polymer,” says Hitesh.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Amzole
- BASF
- Hubei Hongyuan Pharmaceutical Technology
- CginaChemNet
- Silver Fern Chemicals
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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