Market Size of Glyoxal Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Glyoxal Market Analysis
The market for glyoxal is projected to register a CAGR of around 5% during the forecast period (2021-2026).
COVID-19 has negatively affected the glyoxal market. The governments in most of the countries have declared that the non-essential businesses must be closed during the lockdown and the toll on the paints & coatings and oil industries was acutely felt in the manufacturing and retail sales. This, in turn, has affected the glyoxal market negatively. The relaxation of lockdowns and the market's opening is an encouraging sign for the glyoxal market.
- Increasing applications of glyoxal in fabrics and growing demand for glyoxal as an intermediate are driving the market growth.
- Inhalation risks and associated fire hazards in the manufacture of glyoxal are expected to hinder the growth of the market studied.
- Asia-Pacific dominated the market across the world, with the largest consumption from countries, such as China and India.
Glyoxal Industry Segmentation
Glyoxal is an organic crystalline solid, white at lower temperatures, yellow at melting point. The chemical formula for glyoxal is OCHCHO. The Market is Segmented by Application and geography. By application, the market is segmented into adhesives and sealants, intermediates, oil and gas exploration, textile, paints and coatings, and other applications. The report also covers the market size and forecasts for the glyoxal market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of volume (kilo tons).
| Application | |
| Adhesives and Sealants | |
| Intermediates | |
| Oil and Gas Exploration | |
| Paints and Coatings | |
| Textile | |
| Other Applications |
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Glyoxal Market Size Summary
The glyoxal market is experiencing a resurgence as it recovers from the setbacks caused by the COVID-19 pandemic, which had a significant impact on non-essential industries like paints, coatings, and oil. The market is driven by the increasing applications of glyoxal in textiles and its growing demand as a chemical intermediate in pharmaceuticals and dyestuffs. Despite challenges such as inhalation risks and fire hazards during manufacturing, the market is poised for growth. Asia-Pacific leads the global market, with China and India being major consumers due to their developed textile and pharmaceutical sectors. The region's dominance is further supported by continuous investments aimed at advancing these industries.
Glyoxal's versatility as a cross-linker and fiber treating agent in the textile industry, along with its use in cosmetics and pharmaceuticals, is expected to boost its consumption. The chemical's ability to form heterocyclic compounds makes it valuable for producing resins and cross-linking various macromolecules. In the pharmaceutical industry, glyoxal is used to produce important drugs, enhancing its demand. The global market is consolidated, with key players like Hubei Hongyuan Pharmaceutical Technology Co., Ltd., Zhonglan Industry Co., Ltd., and WeylChem International GmbH leading the industry. The increasing use of glyoxal in intermediates, cross-linkers, and coatings is anticipated to drive market growth in the coming years.
Glyoxal Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Applications of Glyoxal in Fabrics
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1.1.2 Growing Demand for Glyoxal as an Intermediate
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1.2 Restraints
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1.2.1 Associated Health Issues
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1.2.2 Unfavorable Conditions Arising due to the Impact of COVID-19
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1.2.3 Other Restraints
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION
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2.1 Application
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2.1.1 Adhesives and Sealants
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2.1.2 Intermediates
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2.1.3 Oil and Gas Exploration
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2.1.4 Paints and Coatings
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2.1.5 Textile
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2.1.6 Other Applications
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2.2 Geography
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2.2.1 Asia-Pacific
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2.2.1.1 China
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2.2.1.2 India
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2.2.1.3 Japan
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2.2.1.4 South Korea
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2.2.1.5 Rest of Asia-Pacific
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2.2.2 North America
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2.2.2.1 United States
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2.2.2.2 Canada
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2.2.2.3 Mexico
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2.2.3 Europe
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2.2.3.1 Germany
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2.2.3.2 United Kingdom
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2.2.3.3 Italy
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2.2.3.4 France
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2.2.3.5 Rest of Europe
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2.2.4 South America
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2.2.4.1 Brazil
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2.2.4.2 Argentina
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2.2.4.3 Rest of South America
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2.2.5 Middle-East & Africa
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2.2.5.1 Saudi Arabia
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2.2.5.2 South Africa
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2.2.5.3 Rest of Middle-East & Africa
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Glyoxal Market Size FAQs
What is the current Glyoxal Market size?
The Glyoxal Market is projected to register a CAGR of 5% during the forecast period (2024-2029)
Who are the key players in Glyoxal Market?
WeylChem International GmbH, Thermo Fisher Scientific, Zhonglan Industry Co.,Ltd, Hubei Hongyuan Pharmaceutical technology Co.,Ltd. and Amzole India Pvt are the major companies operating in the Glyoxal Market.
