Global Glyoxal Market 2017-2021
Glyoxal is an organic compound, which is found in liquid form. It is almost colorless or pale yellow in color, and almost odorless. Glyoxal evaporates giving out a green colored gas. Glyoxal is a good crosslinking agent for starch, polyacrylamide, polyvinyl alcohol, proteinaceous materials such as gelatin and soy protein, and cellulose such as hydroxyethyl cellulose. Glyoxal is used as a crosslinker in oil and gas, textile, paper, cosmetics, leather, and certain other application areas. It is also used in disinfectants. In special epoxy resins and for imidazole, glyoxal is used as a building block. Glyoxylic acid, made from glyoxal, is used as an intermediate for many applications.
Technavio’s analysts forecast the global Glyoxal market to grow at a CAGR of 5.67% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global Glyoxal market for 2017-2021. To calculate the market size, the report considers the sales of glyoxal used in oil and gas, textile, paper packaging, resin and polymer, cosmetics, leather, and other applications.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Glyoxal Market 2017-2021
Technavio recognizes the following companies as the key players in the global glyoxal market: Amzole, BASF, Hubei Hongyuan Pharmaceutical Technology, ChinaChemNet, and Silver Fern Chemicals.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is shale gas boom in North America. Recently, the shale revolution has led to the high production of oil and natural gas in the US. This revolution is the result of technological development in oil and natural gas production, such as, a new combination of horizontal drilling and hydraulic fracturing. This technological advancement has enabled the manufacturing of plentiful oil and gas in the US. Also, the US is benefitted by the accessibility of domestic energy resources, which reduces the country’s dependence on imported energy.”
According to the report, one of the major drivers for this market is positive impact of expanding population on the leather market. The global population is growing exponentially and reached approximately 7.5 billion in 2016. The top 20 countries by population include China, India, the US, Indonesia, Brazil, Pakistan, Nigeria, Bangladesh, Russia, Mexico, Japan, the Philippines, Ethiopia, Vietnam, Egypt, Germany, Iran, Turkey, Congo, and Thailand. By 2050, the global population is expected to reach 9.7 billion. The global population is rising due to several reasons such as reduced rate, better medical facilities, increased lifespan, and decreasing child mortality.
Further, the report states that one of the major factors hindering the growth of this market is shift in manufacturing base from western economies. The economic disputes in Europe, Japan, and the US are spilling over to developing countries, such as India, China, and Brazil, through weak demand for glyoxal for their exports and increased volatility in capital flows and commodity prices. The reduction in export demand from Western Europe has particularly affected the global glyoxal market that is serving the oil and gas, textile, paper packaging, and polymer and resin industries.
Amzole, BASF, Hubei Hongyuan Pharmaceutical Technology, ChinaChemNet, and Silver Fern Chemicals.
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