Glycol Ethers Industry Size, Share, Demand & Growth by 2033
The automotive industry is a significant consumer of glycol ethers, using them in paints, coatings, and cleaning agents. As the automotive industry expands, especially in emerging economies, there is an increased demand for glycol ethers to support the production of automotive paints, coatings, and cleaning solutions.
Future Market Insight predicts
that the global glycol
ethers industry is expected to grow significantly, reaching US$ 13.34
billion by 2033. This projection indicates a CAGR of 5.7%. Notably, this estimated
value represents a substantial rise from the projected worth of US$ 7.66
billion in 2023.
The electronics industry
relies on glycol ethers for various applications, such as cleaning agents,
soldering fluxes, and solvents for printed circuit boards. With the rapid
expansion of the electronics industry, including the production of consumer
electronics and telecommunication equipment, there is a higher demand for
glycol ethers to meet the manufacturing needs of these electronic products.
Glycol ethers find
applications in personal care products like lotions, creams, and hair care
products as solvents and fragrance stabilizers. As the focus on personal
grooming and hygiene increases, the demand for personal care products rises.
Consequently, the demand for glycol ethers, which are integral to the
formulation of these products, also grows.
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Key Takeaways from the Glycol Ethers
Market
- The glycol ethers industry in the United
Kingdom is anticipated to rise sizably, exhibiting a CAGR of 3.8% through
2033, primarily driven by the country’s increasing demand for eco-friendly
and sustainable solvents in various industries such as paints, coatings,
and cleaning products.
- In 2022, the United States held a significant
29% share of the global glycol ethers industry, driven by the country’s
robust manufacturing sector and high demand for glycol ethers in
applications such as paints, adhesives, and personal care products.
- India’s glycol ethers industry is projected to
grow rapidly with a CAGR of 5.1% over the forecast period, driven by
expanding manufacturing, industrial activities, and demand from sectors
like automotive, construction, and pharmaceuticals.
- In 2022, Japan accounted for an 8.7% share of
the global glycol ethers industry, driven by the country’s advanced
manufacturing capabilities, strong chemical industry infrastructure, and
high demand for glycol ethers in sectors such as electronics, automotive,
and cosmetics.
- China’s glycol ethers industry is poised for
rapid growth, driven by a strong manufacturing sector, increasing
industrial activities, and growing demand for applications like paints,
coatings, and textiles. It is projected to achieve a 4.5% CAGR over the
forecast period.
- In 2022, Germany held a 9.9% share of the
global glycol ethers industry, driven by a strong chemical manufacturing
sector and high demand in the automotive, pharmaceutical, and electronics
industries.
About the Chemicals and Materials Division
at Future Market Insights (FMI)
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