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
[129 Pages Report] The global glyoxal market size is projected to grow from USD 265 million in 2019 to USD 326 million by 2024, at a CAGR of 4.3%. The rise in disposable income & changing lifestyle, and growing intermediate use in chemical, pharmaceutical, and agriculture industry are the key factors fueling the growth of the market. In addition, increasing use of the organic compound in food & beverage packaging is also driving the market growth.
By application, the crosslinking segment is expected to account for the largest glyoxal market share during the forecast period.
Major drivers for the crosslinking segment include excellent finishing properties in textile processing, better efficiency in the tanning process, improved wet strength in paper, and hydrocolloids formation in cosmetic/personal care products. The requirement for glyoxal as a crosslinker is expected to grow in the future due to the increasing demand for textiles, paper packaging, footwear, garments, and personal care products.
By end-use industry, derivatives segment is expected to be the fastest-growing segment, in the glyoxal market during the forecast period.
Derivatives segment includes use of glyoxal in chemical, pharmaceutical, and agriculture industries. It is used as an intermediate in the formulation of chemicals such as glyoxylate, imidazole, methyl imidazole, metronidazole, and allantoin, among others. This chemical is a raw material for glyoxylic acid and is an intermediate for different kind of drugs such as pyrazinamide, vitamin A series, and a variety of antibiotics in the pharmaceutical industry. Growing incidences of diseases, increasing demand for a variety of chemicals, and growth in demand for environmentally sustainable agrochemicals are driving the market for glyoxal, globally.
APAC is projected to be the largest market during the forecast period.
APAC is projected to be the largest glyoxal market during the forecast period. This growth is attributed primarily to the presence of industrial and urbanization in the region. In addition, increasing domestic demand for textiles and chemicals owing to the growing population is also driving the market growth. Moreover, rising exports, growing middle-class population, government initiatives to support industrial growth, and availability of raw materials act as significant factors for the growth of chemical, textile, and paper industries, which in turn are responsible for the high growth of this region in the glyoxal market.
BASF SE (Germany), Merck KGaA (Germany), Thermo Fisher Scientific Inc. (US), WeylChem International GmbH (Germany) are some of the key players in the market. These companies have adopted various organic and inorganic growth strategies between 2014 and 2018 to strengthen their position in the market. Merger & acquisition was among the key growth strategies adopted by these leading players to establish and enhance their regional presence to meet the growing demand for glyoxal from the emerging as well as developed economies.
Scope of the report
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Report Metric |
Details |
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Years considered for the study |
2017–2024 |
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Base year |
2018 |
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Forecast period |
2019–2024 |
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Units considered |
Value (USD), Volume (Kiloton) |
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Segments |
Application, End-use Industry, and Region |
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Regions |
North America, APAC, Europe, Middle East & Africa, and South America |
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Companies |
BASF SE (Germany), Merck KGaA (Germany), Thermo Fisher Scientific Inc. (US), WeylChem International GmbH (Germany) |
This research report categorizes the glyoxal market based on application, end-use industry, and region.
By Application:
- Crosslinking
- Intermediate
- Others (Sulfide scavenging, disinfectant)
By End-Use Industry:
- Textile
- Paper
- Derivatives
- Oil & gas
- Cosmetics/personal care
- Leather
- Others (Construction, furniture)
By Region:
- APAC
- Europe
- North America
- Middle East & Africa
- South America
Critical questions the report answers:
- What are the upcoming hot bets for the glyoxal market?
- How are the market dynamics for different applications of glyoxal?
- What are the significant trends in end-use industry influencing the market?
- Who are the major manufacturers of glyoxal?
- What are the factors governing the glyoxal market in each region?
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The study involved four major activities in estimating the current glyoxal market size. The exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, the market breakdown and data triangulation methodologies were used to estimate the market size of segments and subsegments.
Secondary Research
In the secondary research process, various secondary sources such as Hoovers, Bloomberg, UN Comtrade database, World Health Organization database, World Trade Organization database, and BusinessWeek were referred to for identifying and collecting information for this study. These secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, gold standard & silver standard websites, fine &specialty chemicals related organizations, regulatory bodies, and databases.
Primary Research
The glyoxal market comprises several stakeholders such as raw material suppliers, distributors of glyoxal, raw material associations, textile associations, pharmaceutical related associations, end-users, and regulatory organizations in the supply chain. The demand side of this market consists of textile manufacturers, chemical companies, paper manufacturers, oil & gas companies, leather product manufacturers, whereas the supply side consists of glyoxal manufacturers. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.
Following is the breakdown of primary respondents-:
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
Both top-down and bottom-up approaches were used to estimate and validate the total size of the glyoxal market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
- The key players in the industry and markets were identified through extensive secondary research.
- The industry’s supply chain and market size, in terms of value and volume, were determined through primary and secondary research.
- All the percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.
Data Triangulation
After arriving at the overall market size—using the estimation processes as explained above—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the textile, paper, leather, cosmetics, chemical, pharmaceutical, oil & gas, and construction segments.
Objectives of the Study:
- To define, describe, and forecast the size of the glyoxal market in terms of value and volume
- To provide detailed information about the key factors (drivers, restraints, challenges, and opportunities) influencing the market growth
- To analyze and forecast the market by application and end-use industry
- To forecast the market size with respect to five regions, namely, Asia-Pacific, Europe, North America, the Middle East & Africa, and South America along with their key countries
- To strategically analyze micromarkets1 with respect to individual growth trends, growth prospects, and their contribution to the overall market
- To analyze the opportunities in the market for stakeholders and provide a competitive landscape for the market leaders
- To analyze competitive developments such as investment & expansion and merger & acquisition in the market
- To strategically profile the key players and comprehensively analyze their market ranking and core competencies2
Notes: Micromarkets1 are defined as subsegments of the glyoxal market included in the report.
Core competencies2 of the companies are determined in terms of their key developments, SWOT analysis, and strategies adopted to sustain their position in the market
Available Customizations:
With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:
Regional Analysis:
- A country-level analysis of the glyoxal market is provided on the basis of end use industry.
Company Information:
- Detailed analysis and profiles of additional market players.
Growth opportunities and latent adjacency in Glyoxal Market