In terms of revenue, Global Glyoxal Market was valued at US$ 1367.7 Mn in 2016 and is anticipated to reach US$ 2328.0 Mn by 2025, expanding at a CAGR of 6.0% from 2017 to 2025.
Glyoxal is an organic compound with two aldehyde groups – a liquid form and a gaseous form. The liquid form is green in color, and gaseous form is yellow in color.
It is extensively used as an antecedent for making a number of chemical products. An exhaustive data collection methodology is followed by our market research reports for the chemicals and materials industry and offer an analysis of fastest growing market segments.
The Global Glyoxal Market is enhanced by factors such as:
- Increasing demand for cosmetics and personal care products.
- Increase in disposable income.
- Growing preference for healthier lifestyles.
Glyoxal acts as a cross-linker and is normally used in oil recovery. It crosslinks the polymers to increase the viscosity of the fracturing fluid.
This generates fractures in oil sediments and releases crude oil. The growing demand for oil will drive the adoption of glyoxal during the forecast period since glyoxal is used as a sulfur scavenger in gas sweetening process.
The increasing number of oil refining activities in North America will positively influence the growth of the market in the oil and gas segment.
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Based on end-user industry segmentation, glyoxal is extensively used in food packaging industry due to its low moisture retention property. The demand for packaged foods or meals is growing because they are portion-controlled, time-saving, and come in convenient packaging with a freeze or thaw stability.
The technological developments in the packaging industry will widen the range of convenience food products that includes frozen, chilled, shelf-stable, microwavable, and prepared mixes.
In the view of geographical analysis, Asia-Pacific is witnessing an increase in the demand for textile and leather products majorly due to increase in population. This will drive the demand for glyoxal since they are highly used as an intermediary chemical in textiles, resins, polymers, and oil and gas industries.
Major end-user industries such as automotive and construction are increasingly witnessing the demand for polymers and resins, which in turn, will increase the adoption of the compound during the estimated period.
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Some of the significant players functioning in the Global Glyoxal Market include Amzole India Pvt. Ltd., BASF SE, Clariant, Emerald Performance Materials, Haihang Industry Co. Ltd., Huang'gang Jinweikang Chemicals Co. Ltd., HUBEI HONGYUAN PHARMACEUTICAL CO. LTD., Luotian Guanghui Chemical Co. Ltd., Sigma-Aldrich Co. LLC., SILVER FERN CHEMICAL INC., T Square Inc., The Dow Chemical Company, WeylChem International GmbH and so on.
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