Glyoxal Market Showcases Future Status of Prime Manufacturers Across Major Economies during 2018-202

From: Fact.MR
Published: Wed May 08 2019

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.

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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.

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.

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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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