USA, Rockville MD, May 16, 2022 (GLOBE NEWSWIRE) — According to a recent report by Fact.MR, the global ethanedial market is poised to grow at a CAGR of 4.4% from 2022 to 2032. The market is likely to close at a valuation of US$2.25 billion. the request Glyoxal Market is expected to grow over the forecast period and the market is expected to reach a global market size of US$1.46 billion by the end of 2022.

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With the continued focus on sustainability in end-user industries, manufacturers in the glyoxal market are actively engaged in introducing glyoxal compounds with higher levels of durability. From 2015 to 2021, the Glyoxal market grew at a CAGR of 5.3%, closing at a value of US$1.4 billion. As of 2022, the industry is expected to reach US$1.45 billion. Applications in plug-in hybrid (PHEV) and electric (EV) vehicles. The application of ethanedial as a cross-linking agent has remained traditional in many end-user industries and the status quo is expected to continue in the future.

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The growth of the aforementioned market is mainly driven by large-scale investments by several governments for the advancement of industrial infrastructure. Moreover, the collective domestic demand for textiles and chemicals due to the increase in population is also driving the market towards positive growth.

How the oil and gas sector is driving demand for Glyoxal Market?

Opportunities for Glyoxal Market with good prospects for the oil and gas sector

Oil and gas is the main application sector and accounted for 30.4% of the global volume in 2021, registering a CAGR of 4.3%. Glyoxal is widely used as a crosslinker for oil recovery and as a sulfur scavenger in gas sweetening processes. The oil and gas industry is realigning after experiencing low prices in recent years.

With increased production efficiency, US oil production has increased and is expected to observe an upward trend in the future. The scenario is also similar in developing economies, which is driving the demand for enhanced oil recovery due to the increase in oil well development.

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Key segments covered by the North America Glyoxal Industry survey

• Glyoxal Market by Application:
  • Glyoxal for cross-linking polymer
  • Glyoxal for sulfur scavengers
• Glyoxal Market by end use:
  • petroleum 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 and Africa

Competitive landscape

The global ethanedial market is characterized by the presence of multiple vendors, aiming to offer extensive consulting and integration services to customers. In addition, companies are looking for specialized service providers, offering tailor-made solutions to meet their business objectives. Also, vendors are likely to leverage product upgrading and differentiation to gain advantage over other competitors in the market.

• In March 2020, BASF completed the acquisition of Solvay’s polyamide business (PA 6.6) on January 31, 2020. Domo Chemicals, Leuna, Germany, has been approved by the European Commission as the buyer of the polyamide business European Union, which could not be acquired by BASF under the conditions imposed by the authorities. The transaction expands BASF’s polyamide capabilities with innovative products.

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The 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

Main takeaways from Glyoxal Market research

• Global Glyoxal Market Expected to Grow 1.5x from 2022 to 2032
• Cross-linking polymers will be a leading application category, capturing over 80% of the market and thriving at a CAGR of 4.7% through 2032
• By end use, Glyoxal for the textile industry will grow at a CAGR of 5%
• US to become fastest growing ethanedial market, documenting 5% CAGR
• China is the 2nd most opportunistic market, expected to be valued at US$455 million in 2032

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