Global Glyoxal Market Forecasts to 2024 - Leading Players are BASF, Merck, Thermo Fisher Scientific, WeylChem International, and Haihang Group

DUBLIN, Oct. 9, 2019 /PRNewswire/ -- The "Glyoxal Market by Application (Crosslinking, Intermediate), End-Use Industry (Textile, Paper, Derivatives, Oil & Gas, Cosmetic/Personal Care, Leather), Region (North America, Europe, APAC, Middle East & Africa, South America) - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The objective of this study is to define, describe, and forecast the glyoxal market based on various segmentations and strategically analyze these market segments with respect to individual growth trends, growth prospects, and contribution to the overall growth. In this report, the glyoxal market has been segmented based on application, end-use industry, and region.

The report profiles several leading players of the glyoxal market that include BASF SE (Germany), Merck KGaA (Germany), Thermo Fisher Scientific Inc. (US), WeylChem International GmbH (Germany) and Haihang Group (China). The report also includes detailed information about various growth strategies adopted by these key players to strengthen their position in the market.

The glyoxal market size is projected to reach USD 326.4 million by 2024, at a CAGR of 4.3% between 2019 and 2024.

The increasing demand for textiles owing to an increase in urbanization, change in lifestyle, growing population, and increasing disposable incomes in emerging economies are the major drivers for the glyoxal industry.

Another driving factor includes the novel application of glyoxal in packaging and chemical industry in terms of sustainable packaging and as an intermediate for the synthesis of a wide range of organic molecules. However, the fluctuations in the availability and prices of raw material such as ethylene, ethylene glycol, acetaldehyde, and others can hinder the growth of the market.

Intermediate segment is expected to be the fastest-growing application of glyoxal, during the forecast period. 

A chemical intermediate is a molecule that aids to derive other chemicals. The major advantage of glyoxal as an intermediate is its suitability to derive a wide range of chemicals, pharmaceutical products, and agrochemicals. Glyoxal is used for organic synthesis of a wide range of chemicals, such as glyoxylic acid, imidazole, and allantoin, among others.

The growing middle-class population increased consumption of pharmaceuticals as a result of the rising number of cases of non-communicable disease, and high use of fertilizers & pesticides to improve agricultural yield together will drive the demand for glyoxal as an intermediate.

Textile is estimated to be the largest end-use industry of glyoxal, during the forecast period. 

Textile was the largest end-use industry for glyoxal in 2018. Glyoxal is used for crosslinking application in the textile industry to improve crease-resistance of clothing and apparels. The global textile market is dependent on economies, such as Mexico, Peru, China, and India, among others, that offer a high quality of cotton, integrated value chain, and competitive labor cost.

The demand for textiles is growing as a result of the increasing global population, improving organized retailing in emerging markets, and the availability of online ordering. These factors fuel the demand for glyoxal in the textile industry.

APAC is projected to be the largest glyoxal market during the forecast period.

APAC was the most promising market for glyoxal in 2018, and the trend is expected to continue during the forecast period. The growing population, increasing demand for textiles-based products, growth in apparel exports, value chain integration in the textile industry and competitive chemical industry in terms of raw material, labor cost and skilled labor are driving the Asia Pacific glyoxal market.

Shifting demographics such as aging population, rising demand for agricultural products from growing population and industrialization are responsible for the high growth scenarios in the chemical, pharmaceutical, and agrochemical sectors, which in turn, drives the glyoxal market growth. In addition, rapid developments in the field of sustainable packaging necessitate the use of glyoxal as a biodegradable crosslinking agent for paper and other types of eco-friendly packaging.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Glyoxal Market
4.2 Glyoxal Market Size, By Application
4.3 Glyoxal Market Size, By End-Use Industry
4.4 Glyoxal Market, By Major Countries
4.5 APAC Glyoxal Market, By Application and Country, 2018

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rise in Disposable Income and Changing Lifestyle in Emerging Economies Increasing Demand for Textiles
5.2.1.2 Increasing Use of Intermediate in Chemical, Pharmaceutical and Agriculture Industries
5.2.1.3 Growing Use of Glyoxal in Manufacture of Food & Beverage Packaging
5.2.2 Restraints
5.2.2.1 Volatility in the Price of Raw Material
5.2.3 Opportunities
5.2.3.1 Growth in Global Demand for Sustainable Packaging Solutions Such as Bioplastics
5.2.4 Challenges
5.2.4.1 Relative Inefficiency in Sulfide Scavenging Operations Restricting Use
5.2.4.2 Harmful Effects of Overexposure to Glyoxal as It is A Class 3 Mutagen
5.3 Porter's Five Forces Analysis
5.3.1 Threat of New Entrants
5.3.2 Threat of Substitutes
5.3.3 Bargaining Power of Buyers
5.3.4 Bargaining Power of Suppliers
5.3.5 Intensity of Competitive Rivalry

6 Glyoxal Market, By Application
6.1 Introduction
6.2 Crosslinking
6.2.1 Growth of Textile Industry Augmenting the Demand for Glyoxal
6.3 Intermediates
6.3.1 APAC is the Fastest-Growing Market for Glyoxal in Intermediates Application
6.4 Others
6.4.1 Stringent Regulations Regarding Sulfide Scavenging to Fuel the Demand for Glyoxal

7 Glyoxal Market, By End-Use Industry
7.1 Introduction
7.2 Textile
7.2.1 Growth in Disposable Income in Emerging Economies to Fuel the Demand for Glyoxal
7.3 Derivatives
7.3.1 Rise in Use of Glyoxal for Organic Synthesis to Drive the Market in Derivatives Segment
7.4 Paper
7.4.1 Growing Demand for Sustainable Packaging Solutions to Drive the Demand for Glyoxal
7.5 Oil & Gas
7.5.1 Growing Extraction of Oil & Gas to Propel the Demand for Glyoxal
7.6 Leather
7.6.1 APAC Accounts for Largest Share of Glyoxal Market in Leather Industry
7.7 Cosmetic/Personal Care
7.7.1 APAC to Be the Largest Consumer of Glyoxal in Cosmetics Industry
7.8 Others

8 Glyoxal Market, By Region
8.1 Introduction
8.2 North America
8.2.1 US
8.2.1.1 Growing Demand for Sustainable Packaging Solution to Fuel the Glyoxal Market
8.2.2 Mexico
8.2.2.1 Rising Textile Exports to Propel the Demand for Glyoxal
8.2.3 Canada
8.2.3.1 Surging Demand for Comfortable Clothing to Boost the Demand for Glyoxal
8.3 Europe
8.3.1 Germany
8.3.1.1 Investments in Chemical Sector to Increase Demand for Glyoxal
8.3.2 France
8.3.2.1 Growing Domestic Demand for Cosmetics to Propel the Demand for Glyoxal
8.3.3 Italy
8.3.3.1 Intermediates Application is the Fastest-Growing Consumer of Glyoxal in Italy
8.3.4 Russia
8.3.4.1 Growing Chemical and Oil & Gas Industries to Drive the Market
8.3.5 UK
8.3.5.1 Growing Use as an Intermediate to Boost the Demand for Glyoxal
8.3.6 Rest of Europe
8.4 APAC
8.4.1 China
8.4.1.1 Rapid Economical Growth and Increasing Industrial Base to Boost the Demand for Glyoxal
8.4.2 India
8.4.2.1 Rapid Growth in the Chemical Industry to Propel the Glyoxal Market
8.4.3 Japan
8.4.3.1 Growing Demand for Pharmaceuticals to Drive the Glyoxal Market
8.4.4 Vietnam
8.4.4.1 Rising Influx of Foreign Brand in Clothing to Augment the Demand for Glyoxal
8.4.5 Rest of APAC
8.5 Middle East & Africa
8.5.1 Saudi Arabia
8.5.1.1 Refinery Integration Activities to Drive Growth of Glyoxal Market in Saudi Arabia
8.5.2 South Africa
8.5.2.1 Industrial Development to Drive the Glyoxal Market in South Africa
8.5.3 Rest of Middle East & Africa
8.6 South America
8.6.1 Brazil
8.6.2 Brazil
8.6.2.1 Textile Industry Growth to Drive the Glyoxal Market
8.6.3 Peru
8.6.3.1 Growing Agricultural Activities to Drive the Glyoxal Market In
8.6.4 Rest of South America
8.6.4.1 Skilled Labor and Urbanization to Drive Glyoxal Market

9 Competitive Landscape
9.1 Overview
9.2 Competitive Leadership Mapping, 2018
9.2.1 Visionary Leaders
9.2.2 Innovators
9.2.3 Dynamic Differentiators
9.2.4 Emerging Companies
9.4 Competitive Benchmarking
9.4.1 Strength of Product Portfolio
9.4.2 Business Strategy Excellence
9.5 Market Ranking of Key Players
9.5.1 BASF SE
9.5.2 Merck KGaA
9.5.3 Thermo Fisher Scientific Inc.
9.5.4 Haihang Group
9.6 Competitive Situation & Trends

10 Company Profiles
10.1 BASF SE
10.1.1 Business Overview
10.1.2 Products Offered
10.1.3 SWOT Analysis
10.2 Merck KGaA
10.3 Thermo Fisher Scientific Inc.
10.4 Weylchem International GmbH
10.5 Haihang Group
10.6 Amzole India Pvt. Ltd.
10.7 Onichem
10.8 Taicang Guangze Fine Chemical Co., Ltd.
10.9 Tokyo Chemical Industry Co., Ltd.
10.10 Toronto Research Chemicals
10.11 Other Companies
10.11.1 Cangzhou Goldlion Chemicals Co., Ltd.
10.11.2 Finetech Industry Limited
10.11.3 Fuyang Fengchi Chemical Co., Ltd.
10.11.4 Huang'gang Jinweikang Chemicals Co., Ltd.
10.11.5 Hubei Hongyuan Pharmaceutical Technology Co., Ltd.
10.11.6 Hubei Shunhui Biotechnology Co., Ltd.
10.11.7 Novochem
10.11.8 Oakwood Products, Inc.
10.11.9 Oswal Udhyog Group
10.11.10 Otto Chemie Pvt Ltd.
10.11.11 Penta Manufacturing Company
10.11.12 Sancai Industry Co., Ltd.
10.11.13 Spectrum Chemical Mfg. Corp.
10.11.14 Zehao Industry Co., Ltd.
10.11.15 ZL Chemical (Jinan) Co., Ltd.

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