Pune, Maharashtra -- (SBWIRE) -- 06/26/2019 -- Multinationals Continue to Consolidate Their Position, Holding Over 80% Share
BASF SE is the front runner in the glyoxal market, with around 80 thousand metric tons of glyoxal annual output and over 30% of the glyoxal market revenues. The company is a prominent provider of glyoxal in the enhanced oil recovery application as well as in the gas industry. DowDuPont and Zhonglan Industry Co. Ltd are close competitors of BASF trying to broaden their consumer base and introduce novel blends with traditional excellence in chemical manufacturing to stand out in the market.
Hubei Hongyuan Pharmaceutical Technology Co., Ltd. and Mitsubishi Chemical Corporation are other important competitors and with DowDuPont and Zhonglan Industry, the four companies collectively hold over 52% of the glyoxal market revenue share. Other leading players in the glyoxal market are Huntsman Corporation, Amzole India Pvt. Ltd. and Celanese Corporation who are also important contenders in the glyoxal marketplace.
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Glyoxal Gains Momentum as a Potential Aldehyde Substitute
Glyoxal's use as a formaldehyde substitute in wood adhesive applications is known for a long time. A number of studies are underway to use glyoxal as an aldehyde substitute. Especially studies are in pipeline to develop glyoxal as a formalin or formaldehyde substitute. Formaldehyde finds extensive application in the production of industrial resins and is an important precursor to multiple chemicals and other materials. However, harmful effects of formaldehyde on human health are well studied and according to the US National Toxicology Program, formaldehyde is classified as a human carcinogen.
Studies have shown that glyoxal can be used as an alternative fixative to formaldehyde in super-resolution microscopy and immunostaining, and acid-free glyoxal can be used as a formalin substitute in tissue sample preservation. Also, one of the industry titan, BASF SE, is engaged in formulating a co-biocide using a blend of glyoxal and glutaraldehyde in disinfectants used in veterinary hygiene and the health industry. Identification of glyoxal as a potential substitute of formaldehyde and glutaraldehyde is likely to generate lucrative opportunities for glyoxal market in the future.
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Glyoxal Demand to Increase as Chemical Industry Emphasizes on Sustainability
Major investments in the chemical industry are aimed at developing chemical intermediates with higher biodegradability. Glyoxal is one of the important chemical intermediates used across niche industry verticals for its higher biodegradability. With the ongoing emphasis on sustainability across end-user industries, manufacturers in the glyoxal marketplace are actively engaged in introducing glyoxal compounds with higher sustainability grades.
Glyoxal provided by BASF SE is readily biodegradable and according to OECD 301C-E & 303A guideline, shows 90% decrease of dissolved organic carbon. Owing to its higher biodegradability, glyoxal is also accredited for its safe use in the food packaging industry. According to the research carried out at Max Planck Institute of Colloids and Interfaces, lignin which is used as a promising materials in sustainable energy storage devices are studied to achieve enhanced charging and electrode stability with the crosslinking of glyoxal.
Glyoxal Demand as a Crosslinking Agent Continues to Grow
Owing to its low moisture retention characteristics, application of glyoxal as a crosslinking agent is highly popular across end-use industries such as textiles, paper & pulp, oil & gas, leather, cosmetics and wood hardening. End-use industries continue to leverage benefits of glyoxal and consistent research and development activities ensure a promising future of the glyoxal marketplace with a number of innovative solutions already in the pipeline.
To deliver application-specific solutions, manufacturers closely work with the industry to align with the specific requirements. As a crosslinking agent, glyoxal provides comprehensive solutions for a huge number of chemical applications and hence is expected to witness significant demand for glyoxal in the coming years.
Opportunities for Glyoxal Market with a Healthy Outlook of Oil & Gas Sector
The oil and gas industry is realigning after witnessing last few years of weak prices. With increased productivity efficiency, the U.S. oil production has increased and is likely to observe an upward growth trend in the future. The scenario is similar in developing economies as well, thereby driving the demand for enhanced oil recovery owing to increased oil wells development.
Glyoxal is an important crosslinking intermediate which aids in the oil extraction process of the immiscible phase. Also, during the process of enhanced oil recovery (EOR), fracturing fluids in the presence of glyoxal as a chemical intermediate perform better. Glyoxal forms the crosslinking between polymers of fracturing fluid, thereby increasing fluid's viscosity and allowing to create fracture in oil sediments and ultimately releasing the crude. The important role of glyoxal in the oil & gas sector is expected to fit well in the sectors optimistic outlook wherein manufacturers will witness industry profitability.
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Textile Industry Prevails a Key End Use Vertical
As a product of choice for a number of applications, glyoxal finds extensive application in the textile industry. In textile manufacturing, the efficient crosslinking property of glyoxal leads to decreased water uptake during cellulose crosslinking. As glyoxal can efficiently bind to cellulose and avoid cellulosic swelling, its utilization in the textile industry continues to grow. Also, with the textile industry witnessing a significant transformation on the back of evolving trends in the clothing landscape with increased demand for softer, non-woven and wrinkle-free fabrics. Increasing urbanization is further opportunities for new textile demand with urban consumers spending more on high-end clothing.
According to the World Trade Statistical Review 2018 by WTO, the world textile and apparel exports witnessed an increase of 4.2% and 2.8% in 2017 over 2016. With China, India and EU 28 at the helm of textile exports, the industry is expected to witness significant growth in the coming years, thereby alluding at industry profitability for glyoxal manufacturers.
Glyoxal Market – Definition
Glyoxal is an organic compound and the smallest dialdehyde with the chemical formula OCHCHO. Glyoxal is a crystalline solid, soluble in water and extremely weak basic compound. At lower temperatures, it appears white, near melting point yellow and glyoxal's vapor is green in color. Glyoxal's IUPAC name is Oxaldehyde and it is derived from ethylene glycol.
Glyoxal Market – About the Report
Fact.MR has published a study on glyoxal market and published a report titled, "Glyoxal Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2018 to 2027." The glyoxal market report covers all the vital aspects of the market that hold significant influence on the growth of the glyoxal market. The glyoxal market report also provides an exhaustive analysis of market drivers, restraints, opportunities and trends prevailing in the marketplace. A comprehensive analysis of the competitive landscape in the glyoxal market can also be found in the report. In addition, inclusion of associated industry analysis, regional analysis and market attractive analysis makes the glyoxal market report assessment most credible.
Glyoxal Market – Segmentation
The glyoxal market is thoroughly studied for the opportunities, demand trends and other forecast factors prevailing in the marketplace and hold significant influence on the future growth trajectory of the glyoxal market. Based on the thorough assessment, the glyoxal market is segmented on the basis of end use and application. In addition, the glyoxal market segmentation also covers regional analysis along with an extensive country-wise assessment of the glyoxal market.
Glyoxal market – Additional Questions Answered
In addition to the above-mentioned insights, the glyoxal market report also answers important questions of the industry as well as non-industry professional alike.
What will be the size of glyoxal market in 2019 in terms of value and volume?
Which region will the most lucrative for the glyoxal market during the assessment period?
Which end-user will garner a significant bulk of the glyoxal demand in the future?
What will be the volume consumption of crosslinking polymer glyoxal in 2019?
Glyoxal Market - Research Methodology
In the section of glyoxal market report, an exhaustive discussion about the robust research methodology followed during the course of the glyoxal market study can be found. In the research methodology, a detailed step-wise analysis followed during the glyoxal market assessment is provided. Within which, a thorough discussion on primary and secondary research approaches is provided along with the list of resources used to carry out the glyoxal market research.
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