Glyoxal Market is Expected to Generate Huge Profits by 2028

Glyoxal Market: Introduction

Glyoxal is an organic compound that belongs to the aldehyde group and has the chemical formula OCHHO (CAS Number: 107-22-2). Its IUPAC name is Oxaldehyde. It is yellow in color and is available in liquid form at normal temperatures and is highly reactive in nature. Glyoxal can be prepared by oxidizing ethanol or acetaldehyde with nitric. Glyoxal, owing to its versatile properties, is widely employed in various applications and as an intermediate in several industries, such as oil & gas, packaging, paper and textile & leather industries, along with oil & gas industries. Owing to its low moisture retention characteristic, glyoxal is also used in food packaging and paper manufacturing. In the textile industry, glyoxal is used as a cross-linking agent with cellulose to avoid cellulose swelling, thereby enhancing product quality and resulting in soft and wrinkle-free textiles. In the oil & gas industry, glyoxal is an important chemical intermediate that enhances oil recovering and an efficient solution for scavenging applications, such as sulfide scavenging in gas sweetening, etc. Furthermore, according to the OECD guidelines, glyoxal is considered to be an environment-friendly compound owing to its biodegradable nature.

Glyoxal Market: Market Dynamics

The glyoxal Market is expected to witness significant growth in near future. The boom in demand for glyoxal from various end-use industry, such as textile, oil & gas, paper and packaging, is expected to be one of the key drivers set to augment the market in the near future. Furthermore, owing to increasing environmental concerns and increasing preference for paper packaging over polymer food packaging are the two factors expected to drive the growth of glyoxal market over the forecast period.

Besides known applications, glyoxal will show significant potential for new applications, some of which are still in the early stages of development. For instance, glycol shows high potential in the substitution of aldehydes, e.g. formaldehyde or glutaraldehyde. Further, prominent players are investing in research and development activities. For example, BASF is working on formulating a Glyoxal disinfect for co-biocide applications.

Glyoxal Market: Segmentation

On the basis of application, the global glyoxal market can be categorized as:

Cross-Linking Polymer

Sulfur Scavenger

On the basis of end-use industry, the global glyoxal market can be categorized as:

Oil & Gas

Textile

Paper & Packaging

Leather

Personal Care

Others

Glyoxal Market: Regional Outlook

The global glyoxal market, by region, is segmented into North America, Latin America, Eastern Europe, Western Europe, South East Asia & Pacific (SEAPAC), China, Japan and MEA. China leads the global glyoxal market and is followed by North America and South East Asia & Pacific. Rise in demand from oil and gas sector and textile industry is projected to boost the glyoxal market in China over the forecast period. South East Asia & Pacific is projected to offer immense growth opportunities for the growth of the glyoxal market over the forecast period. The glyoxal market in the region is expected to benefit from various, factors such as rapid industrialization and urbanization, leading to growing number of manufacturing activities. North America is expected to witness steady increase in demand for glyoxal over the forecast period. Increasing oil & gas exploration activities and boom in shale gas reserve along with strong demand from food packaging industry in the region are projected to drive the growth of the glyoxal market over forecast period. Europe is expected to witness average growth compared to the other regions. Growth in demand for glyoxal owing to increasing demand from textile industry and growth of packaging industry will add to the growth of the glyoxal market during the forecast period. Middle East & Africa is expected to grow at a steady rate over the forecast period owing to recovery in economic conditions and increasing foregoing direct investment in the manufacturing sector in Mexico and Brazil. Latin America glyoxal market is expected to create significant opportunities for the glyoxal manufactures in the region.

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Glyoxal Market: Key Participants

Examples of some of the market participants operating in the global glyoxal market are as follows:

BASF SE

Eastman Chemical Company

Astro Chemicals, Inc.

AMZOLE INDIA PVT. LTD.

Zhonglan Industry Co.,Ltd.

Huntsman Corporation

SILVER FERN CHEMICAL, INC.

Hubei Hongyuan Pharmaceutical technology Co.,Ltd.

The Nippon Synthetic Chemical Industry Co., Ltd.

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