Market Trends of Glyoxal Industry
This section covers the major market trends shaping the Glyoxal Market according to our research experts:
Increasing Demand for Glyoxal as an Intermediate and Crosslinkers
- Glyoxal has been increasingly used as a chemical intermediate in the production of pharmaceuticals and dyestuffs. The ability of glyoxal to form heterocyclic compounds makes it suitable for the production of resins and for cross-linking functionalized macromolecules such as cellulose, polyacrylamides, polyvinyl alcohol, keratin, and other polycondensates.
- Owing to its viscosity characteristics, glyoxal also has been used in cosmetics. Cosmetic products use hydroxyl-ethyl cellulose R-types in creams, emulsions, lotions, gels, and oils for skin, face masks, tinted bases, different powders, hair-care products, shaving, and sunbathing products.
- According to Cosmetic Europe, European Cosmetics have generated a revenue of 79.8 billion EUR in the year 2019, where Germany holding a share of 35% accounting for around 14 billion EUR.
- The Asia-pacific textile industry witnessed major growth in recent times. Glyoxal is being used in the textile industry as a crosslinker and fiber treating agent. It can increase the spinning of cotton, nylon and can be used for other anti-wrinkle applications.
- Glyoxal, as an intermediate, is used in the production of different chemicals, such as glyoxylate, imidazole, methyl imidazole, metronidazole, and allantoin. Pharmaceutical industries have been largely using these chemicals to produce drugs, such as pyrazinamide and antibiotics.
- All the aforementioned factors are estimated to boost the consumption of glyoxal in the segment studied during the forecast period.
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Asia-Pacific Region to Dominate the Market
- Asia-Pacific is expected to dominate the global market, owing to the highly developed textile sector in China, coupled with the continuous investments done in the region to advance the pharmaceutical and agriculture sectors through the years.
- According to IBEF, the Indian cloth production in the fiscal year 2019 stood at around 70.04 billion square meters, and in the fiscal year 2020 till January, the production was 63.34 billion square meters.
- Moreover, the growing infection issues in the country and with the most population getting affected with various diseases and increased the need for various medical attention in the country is increasing the demand for pharmaceutical industries by using glyoxal as an intermediate.
- According to the Coatings World, Asia-Pacific leads the global paints and coatings market, followed by Europe in recent years. Globally, Asia-Pacific alone occupies more than 40% share of the coatings market.
- Globally, China is a dominant market in the leather manufacturing industry. Glyoxal intermediates help in maintaining leather quality. There has been an increase in the demand for high-quality demand for leather products in the country lately.
- Increasing usage of intermediates and crosslinkers, paints and coatings, and usage in textiles are expected to drive the market for glyoxal in the region through the years to come.
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