Glyoxal Market Report, By Application, End Use Industry (Cosmetics/Personal Care, Derivatives, Leather, Oil & Gas, Paper, Textile) and Geography - Global Market Share, Trend Analysis & Forecast

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 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.

Glyoxal Market Trends

• Huge investments made by the oil & gas companies in E&P activities, particularly in the countries of the Middle East & Africa such as Nigeria and South Africa are touted to drive demand
• The key function of glyoxal is oil recovery and gas sweetening, both of which play an essential role in making both the oil and gas modifiable and usable as per the requirements of end-use
• 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

Glyoxal Market Outlook

• 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 Market COVID-19 Impact

• The chemical industry has observed a relatively sluggish growth due to the COVID-19 pandemic unlike other industries
• Furthermore, China, a chief supplier of chemicals to the world, registered a considerable decline in manufacturing in the first quarter of 2020, following the trajectory unfolded by coronavirus acceleration to a pandemic
• This has led to an imbalance in supply-demand dynamics, forcing manufacturers and customers similar to renegotiate supply agreements

Glyoxal Market Regional Trends

The global market is studied for the key regions such as, North America, Europe, Asia Pacific and Rest of the World. North America comprises of U.S., Canada and Mexico. Whereas, Europe covers UK, France, Germany, Italy, Spain and Rest of Europe. The key countries included under Asia Pacific are China, India, Japan and Rest of Asia Pacific. The Rest of the world include Latin America and Middle East & Africa. Asia Pacific accounted for the major share of the glyoxal market in 2019 across the globe. Rise in demand for textile and leather products is projected to boost the market for glyoxal in Asia Pacific in the near future. Demand for glyoxal is increasing in cosmetics and personal care industries. This is predicted to boost the market in the region. In Europe, increasing demand from end-use industries such as paper packaging, wood adhesives, and leather along with recovery of economic growth is anticipated to drive market growth in the region over the forecast period. Increasing glyoxal usage in the production of glycolic acid which serves as an intermediate for agrochemicals, antibiotics, vanillin, and allantoin is another key driving factor for regional market growth.

Glyoxal Market Segmental Highlights

• The report analyses the global glyoxal market based on application, end use industries and geography
• Various application studied in this report are crosslinking, intermediate and others (sulfide scavenging, disinfectant)
• The major end use industries of the market are cosmetics/personal care, derivatives, leather, oil & gas, paper, textile and others (construction, furniture)
• The oil & gas segment is anticipated to account for major share of the glyoxal market in 2019 in terms of demand; rise in demand for oil & gas across the globe is anticipated to boost the demand for glyoxal

Glyoxal Market Key Players

The key companies in the Glyoxal market are BASF SE, Amzole India Pvt. Ltd., Cangzhou Goldlion Chemicals Co., Ltd., Finetech Industry Limited, Fuyang Fengchi Chemical Co., Ltd., Haihang Group, Huang'gang Jinweikang Chemicals Co., Ltd., Hubei Hongyuan Pharmaceutical Technology Co., Ltd., Hubei Shunhui Bio-Technology Co., Ltd., Merck KGaA, Novochem, Oakwood Products, Inc., Onichem, Oswal Udhyog Group, Otto Chemie Pvt Ltd, Penta Manufacturing Company, Sancai Industry Co., Ltd., Spectrum Chemical Mfg. Corp., Taicang Guangze Fine Chemical Co., Ltd., Thermo Fisher Scientific Inc., Tokyo Chemical Industry Co., Ltd., Toronto Research Chemicals, WeylChem International GmbH, Zehao Industry Co., Ltd. And ZL Chemical (Jinan) Co., Ltd.