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Description
Glycol Ethers market size was valued at USD 6.6 billion in the year 2021 and is expected to grow at a CAGR of 5.6%, during the forecast period 2022 to 2028. Some of the key factors influencing the market growth include increasing consumption of water-based coatings, rising use in cosmetics & personal care products, industrialization and infrastructure development in developing economies and growing demand from end user industries. However, strict regulations and fluctuating raw materials are some factors restricting the market growth. There is a harmful stimulus on the global pricing scenario due to fluctuating raw materials and utilities strictly limit profitability of manufacturers. Moreover, strict regulations concerning to the toxic nature of ethylene oxide-based derivatives is further restricting the market. Glycol ethers refer to the group of solvent based on alkyl ethers of ethylene glycol or propylene glycol. These compounds are extensively used as solvents in paints, cleaners and other products. Glycol ethers are classified into two groups namely E-series and P-series. This classification depends on the reagent from which the glycol ethers are produced that includes ethylene oxide and propylene oxide. Global Glycol Ethers market is surging owing to frequent acquisitions and launchings by the market players. For Instance, in Jun 2018: Dow expanded its global glycol ethers production and invests in US alkoxylation facility. This expansion is in addition to various incremental debottlenecking projects being conducted across the company’s global alkoxylation production units.
