A recent Fact.MR report projects that the global glyoxal market will grow at a CAGR of 4.4% from 2022 to 2032. The market will presumably close the day with a $2.25 billion USD valuation.
Glyoxal demand is likely to rise throughout the forecast period, with the market expected to reach a value of US$1.46 billion by the end of 2022. As a result, glyoxal will be more in demand in the electrical and other end-use industries. The market is expected to increase 1.5 times between 2022 and 2032.
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Key players in the Glyoxal Market
- Dow Chemical Co.
- BASF SE
- Hubei Hongyuan Pharmaceutical technology Co. Ltd
- Zhonglang Industry Pvt. Ltd
- Mitsubishi Chemical Corporation
- Huntsman International LLC
- Celanese Corporation
- Amzole India Pvt. Ltd
Key Takeaways from Glyoxal Market Study
- Global glyoxal market to flourish 1.5x from 2022-2032
- Cross linking polymers to be a top-application category, capturing more than 80% market and flourishing at a 4.7% CAGR until 2032
- By end-use, Glyoxal for the textile industry to expand at a CAGR of 5%
- U.S to emerge as the fastest-growing glyoxal market, documenting a 5% CAGR
- China to be the 2nd most opportunistic market, expected to be valued at US$ 455 Million in 2032
Competitive Landscape
The global market for glyoxal is characterized by the presence of multiple vendors, aiming to offer extensive consulting and integration services to clients. Additionally, enterprises are seeking out, specialized service providers, offering solutions tailor-made to suit their business objectives. In addition, the vendors are likely to leverage up-gradation and product differentiation to gain an edge over other competitors in the market.
- In March 2020, BASF closed the acquisition of Solvay’s polyamide business (PA 6.6) on January 31, 2020. Domo Chemicals, Leuna, Germany, was approved by the E.U. Commission as the buyer of the European polyamide business, which could not be acquired by BASF under the conditions imposed by the authorities. The transaction broadens BASF’s polyamide capabilities with innovative products.
Industry Survey
- Glyoxal Market by Application:
- Glyoxal for Cross-Linking Polymer
- Glyoxal for Sulfur Scavengers
- Glyoxal Market by End Use:
- Oil & Gas
- Textiles
- Paper & Packaging
- Leather Manufacturing
- Personal Care
- Furniture
- Other End Uses
- Glyoxal Market by Region:
- North America
- Latin America
- Europe
- APEJ
- Japan
- Middle East & Africa
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