12th December 2019 – The Glyoxal
market is anticipated to grow at a staggering CAGR in the forecast
period. Glyoxal is produced by oxidation of organic compounds. Although the
organic compounds are present in low volume in the atmosphere, their presence
can trigger the formation of pollutants like organic aerosol and ozone.
Commercially, glyoxal is known as dialdehyde and obtained from ethylene glycol.
The glyoxal market is highly driven by
increase in industrial activities and rise in oil & gas exploration across
the globe. Increase in application use, disposable income, and change in
lifestyle of people have contributed to the market growth in the bygone years
and will continue to do so during the forecast period.
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The glyoxal industry is segmented by
application that comprises leather, textiles, resin & polymers, oil &
gas, cosmetics, and paper packaging. Oil & gas and cosmetics segment
account for a significant market share owing to frequent demand as an enhancer
to boost end- products.
Product segmentation for glyoxal market
comprises industrial grade and pharmaceutical grade. Industrial grade accounts
for a greater market share in the forecast period, owing to enlarged demand.
Increase in glyoxalin across various verticals is anticipated to boost the
market growth during the forecast period.
Geographical segmentation for glyoxal
industry includes North America, Latin America, Europe, Asia-Pacific, Middle
East and Africa. Asia-Pacific accounts for a significant market share due to
rise in demand from cosmetics and personal care. Additionally, presence of
industrial corridor and ongoing R&D activities are likely to boost the
growth of APAC’s market.
North American and European market
dominated the glyoxal market owing to increase in rate of use in oil & gas
industry. Significant investments by the oil &gas companies made in the MEA
regions triggers the market demand. Urbanization factors have been driving the
market developments in the U.S. owing to versatile use of glyoxal in various
industries. The key players in the glyoxal industry include Dow Chemical Co,
Huntsman Corp, INEOS, ME Global B.V., SINOPEC, Clariant, Alberta& Orient
Glycol, Nan Ya Plastics Corp. B.V. Shell Chemicals, BASF and ME Global B.V.
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