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The glycidol market size is estimated to grow by USD 41.31 million at a CAGR of 5.06% between 2022 and 2027. The burgeoning real estate and construction sector significantly propel market expansion. The global upsurge in real estate and construction activities fuels the development of office spaces, commercial complexes, and residential structures. Consequently, there is an increased need for paints, particularly architectural paints favored for construction and structural purposes. This, in turn, is fueling the demand for Glycidol for interior and exterior finishing applications. Therefore, the increasing demand for paints in the construction industry will drive the market during the forecast period.
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This market report extensively covers market segmentation by type (glycidol 96%, glycidol 97%, glycidol below 95%, and glycidol more than 97%), application (production of surface-active compounds, additives in plastics, paints, pharmaceuticals, and others), and geography (North America, APAC, Europe, South America, and Middle East and Africa).
The market share growth by the glycidol 96% segment will be significant during the forecast period. Glycidol 96% is used in the synthesis of hyperbranched polyglycerol (hPG), which is a nonionic surfactant, via a ring-opening reaction. It can also be used in the synthesis of ethoxy ethyl glycidyl ether, which is used to manufacture adhesives, sealants, and paints. In addition, they can be used in the preparation of chelating polymers for borate removal.
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The glycidol 96% segment was valued at USD 44.61 million in 2017. The rise in the geriatric population has increased the incidence of various chronic diseases, such as heart disease. As a result, public healthcare professionals rely on medication regime management to maintain the quality of life of patients. This increases the demand for APIs for drug manufacturing. Thus, the growing application in drug manufacturing and API manufacturing will drive the segment during the forecast period.
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APAC is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The growth of the market in APAC is attributed to factors such as the increasing use of these in various applications, such as manufacturing paints, plastics, and active pharmaceutical ingredients (APIs). The presence of numerous pharmaceutical companies, especially in the US, will increase the demand for drug manufacturing. The increasing number of construction projects across the US will drive the demand for plastics and plastic additives during the forecast period. This, in turn, will drive the market in the region during the forecast period.
The market is experiencing significant growth, driven by its diverse applications in personal grooming, cosmetic formulations, and the healthcare and pharmaceutical sectors. Glycidol is also utilized in the plastic manufacturing industry and finds applications in various end-use sectors such as automotive, consumer electronics, and residential appliances. However, there are concerns regarding its safety, as it is listed on the Special Health Hazard List due to its carcinogenic and mutagenic properties. Despite this, consumer preference for natural ingredients is expected to drive market opportunities. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The Global Glycidol Market presents opportunities amidst the backdrop of challenges posed by infection-transmitted diseases. Industries such as automotive, consumer electronics, residential appliances, and packaging sectors drive demand, reflecting changing consumer preferences influenced by factors like cholesterol and obesity concerns. Additionally, glycidol finds applications in various products, including laundry detergents and disinfectants, serving critical roles in maintaining hygiene standards. Amid growing awareness about health and wellness, the significance of glycidol extends to promoting eye and lung health, further enhancing its market potential.
The growing real estate and construction industry is notably driving market growth. The growth of the global real estate and construction industry has resulted in the rise in the construction of office spaces, commercial complexes, and residential buildings. This, in turn, has led to a surge in demand for paints such as architectural paints, which are preferred in construction and structural applications.
Rapid urbanization and high investments in infrastructure development are driving the growth of the construction industry in developing countries such as India and China. This growth is also influenced by factors such as personal grooming, cosmetic formulations, the healthcare sector, the pharmaceutical sector, infection-transmitted diseases, the plastic manufacturing industry, end-use sectors, glycidol market opportunities, lifestyle disorders, diabetes, and heart problems. The increasing global population is driving the demand for infrastructure such as housing. This, in turn, is fueling the demand for paint for interior and exterior finishing applications. Therefore, the increasing demand for paints in the construction industry will drive the market during the forecast period.
Innovation in the manufacturing process of glycidol is a significant trend in the market. This was traditionally produced using petrochemically derived and hazardous materials. However, the manufacturing processes used were inefficient and dangerous, which increased the price. One of the methods included the epoxidation of allyl alcohol with hydrogen peroxide or the reaction of epichlorohydrin with a caustic agent. However, allyl alcohol is highly toxic, and epichlorohydrin is made from hydrocarbon feedstocks such as propylene. Expensive purification steps are needed to stop the acid residues from entering the environment.
companies are focusing on replacing the hazardous and inefficient processes of manufacturing. For instance, carbon dioxide and methanol can be combined to produce dimethyl carbonate (DMC), which is used in the clean production of glycidol. Therefore, innovation in manufacturing techniques, which includes the use of clean production of glycidol, will support the growth of the market during the forecast period.
Fluctuations in the prices of raw materials for glycidol may impede the market. This is generally obtained from glycerol, which is a byproduct obtained during the synthesis of biodiesel. Therefore, changes in biodiesel prices negatively impact the prices of raw materials. This significantly affects the profit margins of companies, which has a harmful influence on small-scale businesses.
They contain epoxide, which is derived from petroleum. A demand-supply imbalance in the global crude oil market leads to strong fluctuations in crude oil prices and their derivatives. This, in turn, can adversely affect production costs and lower profit margins. Such fluctuations can pose a major threat to companies and decrease the demand from end-user industries. These factors will hinder the growth of the global market during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
FUJIFILM Corp. - The company offers glycidol standard for food analysis, through its subsidiary FUJIFILM Wako Pure Chemical Corp.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market report forecasts market growth by revenue at global, regional, and country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
The market is driven by its diverse applications in various sectors, including the automotive, consumer electronics, residential appliances, and packaging sectors. Despite its versatility, there are concerns regarding its potential health risks, such as skin, eye, nose, throat, and lung irritation, along with symptoms like headache, dizziness, and lightheadedness. Regulatory bodies like OSHA, ACGIH, DOT, NIOSH, NTP, and IARC monitor its use due to its potential harm. However, with the increasing demand for bio-based cosmetic products and high-grade glycidol above 97%, the market presents growth opportunities, especially in pharmaceutical applications for cardiac agents, antibiotics, and biochemical probes.
The market is influenced by various factors, including its applications in the automotive, consumer electronics sector, residential appliances sector, packaging sector, and residential appliances. While it presents growth opportunities, concerns remain regarding its impact on health, especially skin creams, moisturizing lotions, and shampoos, and its use as a stabilizer in vinyl polymers and photographic chemicals. Regulatory bodies monitor its use due to potential health risks, including eye and lung irritation, and symptoms like passing out. However, in the pharmaceutical sector, it finds applications in cardiac drugs and antiarrhythmic medications for chronic health disorders like high blood pressure and heart disease. Online availability, discounts, and distribution channels also play a role in the market dynamics.
Market Scope |
|
Report Coverage |
Details |
Page number |
172 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.06% |
Market growth 2023-2027 |
USD 41.31 million |
Market structure |
Concentrated |
YoY growth 2022-2023(%) |
4.69 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 38% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading companies, market positioning of companies, competitive strategies, and industry risks |
Key companies profiled |
Aggarwwal Exports, Biosynth Ltd., BOCSCI Inc., Changzhou Huaren Chemical Co. Ltd., FUJIFILM Corp., Kanto Chemical Co. Inc., LGC Science Group Holdings Ltd., Merck KGaA, Otto Chemie Pvt. Ltd., Santa Cruz Biotechnology Inc., Spectrum Laboratory Products Inc., Synthesis with Catalysts Pvt. Ltd., Thermo Fisher Scientific Inc., and Tokyo Chemical Industry Co. Ltd. |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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