Home > Chemicals & Materials > Specialty Chemicals > Custom Synthesis > Global Glycidol Market
Global Glycidol Market size was over USD 130 million in 2019 and is estimated to grow over 4.9% CAGR between 2020 and 2026 owing to increasing awareness regarding personal grooming and use of cosmetic formulations. Increasing demand from healthcare and pharmaceutical sector coupled with rising occurrences of infection transmitted diseases to promote market growth.
Growing demand for glycidol as an additive in the plastic manufacturing industry is likely to raise the product demand. Increasing use of plastics from different end-use sectors such as automotive, consumer electronics, residential appliances, packaging, among others is expected to further escalate the product demand.
The rapid growth of the plastic industry is justified by the fact that the global production of plastics had increased to nearly 360 million metric tons in 2018. The increasing applications of the product as a solvent in paint manufacturing may further promote the glycidol market growth.
Report Attribute | Details |
---|---|
Base Year: | 2019 |
Glycidol Market Size in 2019: | 130 Million (USD) |
Forecast Period: | 2020 to 2026 |
Forecast Period 2020 to 2026 CAGR: | 4.9% |
Historical Data for: | 2015 to 2019 |
No. of Pages: | 210 |
Tables, Charts & Figures: | 312 |
Segments covered: | Grade, Application, Distribution Channel |
Growth Drivers: |
|
Pitfalls & Challenges: |
|
The increasing consumer awareness regarding personal grooming coupled with the rising use of cosmetic products to look more presentable in personal & professional life is likely to provide promising glycidol market opportunities in cosmetic preparations. Furthermore, the increasing prevalence of lifestyle disorders such as diabetes, heart problems, cholesterol and obesity coupled with the growing occurrence of pandemics such as COVID-19 may attract consumer attention towards the importance of personal health and hygiene, raising the demand for products like laundry detergents and disinfectants, which contain glycidol.
However, glycidol is listed in the Special Health Hazard List by governing bodies such as OSHA, ACGIH, DOT, NIOSH, NTP and IARC. The carcinogenic and mutagenic nature of glycidol may irritate skin, eyes, nose, throat and lungs and can cause headache, dizziness, lightheadedness and passing out. Also the changing consumer preference towards the use of natural, bio-based cosmetic products may challenge the demand for chemical-based cosmetic preparations containing glycidol.
The market is segmented by grade into Glycidol below 95%, Glycidol 96%, Glycidol 97% and Glycidol above 97%. Glycidol 96% dominate the market and is expected to reach USD 67.63 million by 2026 owing to its increasing applications in preparation of surface-active compounds such as laundry detergents, disinfectants and cosmetic preparations. The increasing applications in skin creams, moisturizing lotions and shampoos may raise the glycidol market demand in the next few years.
The demand for Glycidol 97% is expected to rise significantly during the assessment period owing to its increasing applications as an additive in plastic manufacturing and solvent in paint manufacturing. Furthermore, the increasing use of Glycidol 97% as a stabilizer in manufacturing vinyl polymers is likely to further raise the glycidol market share.
On the basis of application, it is bifurcated into production of surface-active compounds, additives in plastics, paints, photographic chemicals, pharmaceuticals, biocides, others. The increasing use of glycidol as a sterilant in the pharmaceutical industry is expected to boost the growth of the market. Furthermore, increasing applications of the product in the production of cardiac agents, antibiotics, biochemical probes, pharmaceutics with different applications may propel the glycidol market growth.
The pharmaceutical application is expected to reach USD 21.87 million by 2026 growing at a CAGR of 4.7% over the forecast period. The increasing demand for production of cardiac drugs which lower high blood pressure, restore the heart rhythm (anti-arrhythmitic) and improve the overall work of the heart muscle is likely to further raise the glycidol market demand. The increasing cases of chronic health disorders such as diabetes, blood pressure, heart diseases and obesity may raise the demand for the product in pharmaceutical drugs.
The glycidol market growth is attributed towards choice from a wide variety of different brands by comparing their prices online. Moreover, online sites also provide discounts on the purchase of these products, which is likely to attract customers. Moreover, distributors of the product such as Sigma Aldrich have started their own online portal for ease of purchase of customers.
Furthermore, many distributors of the product register themselves on online selling sites such as Molbase to enhance their reach of customers, thus boosting the growth of online distribution channel. Online distribution channel is expected to reach USD 109.29 Million by 2026 growing at a CAGR of 5.3% over the forecast period.
Glycidol market in Asia Pacific is expected to witness a strong growth during the forecast period owing to increasing application of the product as an additive in manufacture of vinyl polymers and as a stabilizer in manufacture of epoxy resins. The increasing production and consumption of vinyl compounds in the Asia Pacific is justified by the fact that Northeast Asia was the largest consumer of vinyl chloride monomer, accounting for over half of the world’s vinyl chloride monomer demand in 2018.
The increasing construction activities coupled with the changing consumer preference towards the purchase of cars with more vibrant colors in Asia Pacific is expected to raise the glycidol market demand from the paint industry in the region.
Key players operating in the glycidol industry are:
The market may witness consolidation in the form of acquisitions & joint ventures, and partnerships which may enhance the client reach of the company. Players are also focusing on new product development to enhance their existing product portfolio.
In December 2016, FUJIFILM Corporation acquired Wako Pure Chemical Industries, Ltd., a subsidiary of Takeda Pharmaceutical Company Limited. This strategic acquisition enabled the company to develop new high-functional reagents including glycidol and the next generation products for highly competitive polymerization initiator to expand the chemical business in the glycidol market.
The global glycidol market report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons & revenue in USD Million from 2015 to 2026 for the following segments:
Click here to Buy Section of this Report
The above information has been provided for the following countries: