The global glycol ethers market is expected to post a CAGR of close to 5% during the period 2019-2023, according to the latest market research report by Technavio.
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Technavio has released a new market research report on the global glycol ethers market from 2019-2023. (Graphic: Business Wire)
A key factor driving the growth of the global glycol ethers market size is the increasing demand from the automotive industry. Glycol ethers are extensively used in the automotive industry for applications such as paints and coatings, and brake fluids. Glycol ethers enhance the dispersion of solids and reduce chipping and foaming of paints. In paints and coatings, glycol ether-based solvents also help to improve the evaporation rate, blush resistance, and solubility for coating resins. As a result, it provides automotive parts with protection against chemicals, moisture, high temperature, and abrasion. Thus, the demand for glycol ethers from the automotive industry is increasing, which is expected to fuel market growth during the forecast period.
As per Technavio, the rising demand for cosmetics products will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global glycol ethers market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global glycol ethers market: Rising demand for cosmetics products
The global skin care industry is growing at a significant rate owing to the continuous increase in online beauty spending, and the growing reach of social networks. Glycol ethers are an effective solvent for ingredients used in cosmetics. Glycol ethers have emollient properties, and they can be used as a low-cost replacement for fatty acid isopropyl esters. Thus, the growing demand for cosmetics products is expected to positively impact the glycol ethers market growth during the forecast period.
“Apart from the rising demand for cosmetics products, other factors such as the growing demand for architectural coatings, and the increase in production of natural gas in North America will have a significant impact on the glycol ethers market growth during the forecast period,” says a senior analyst at Technavio.
Global Glycol Ethers Market: Segmentation Analysis
This market research report segments the global glycol ethers market by type (P-series, and E-series), and geographic regions (APAC, Europe, North America, South America, and MEA).
The APAC region led the glycol ethers market in 2018, followed by Europe, North America, South America, and MEA respectively. The growth of the glycol ethers market in APAC can be attributed to factors such as the rise in per capita income in countries such as India, China, Indonesia, the Philippines, and Thailand., The growth of the construction, chemical, and automotive industries in the region is also contributing to market growth.
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Five Forces Analysis
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- Vendors covered
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- Market positioning of vendors
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