As per a recent report published by Fact.MR, the global glyoxal market is poised to grow at a CAGR of 4.4% from 2022 to 2032. The market is likely to close at a valuation of US$ 2.25 Billion. The demand for Glyoxal Market is expected to rise over the forecast period and the market is projected to gain a global market size worth of US$ 1.46 Billion by the end of 2022.
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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. From 2015 to 2021, the market for Glyoxal grew at a CAGR of 5.3%, closing at a value of US$ 1.4 Billion. As of 2022, the industry is likely to reach US$ 1.45 Billion. Applications in plug-in hybrid (PHEV) and electric vehicles (EV). The application of glyoxal as a crosslinking agent has remained traditional across multiple end-user industries and the status quo is expected to continue in the future.
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Key players in the Glyoxal Market
- Dow Chemical Co.
- BASF SE
- Hubei Hongyuan Pharmaceutical technology Co. Ltd
- Zhonglang Industry Pvt. Ltd
- Mitsubishi Chemical Corporation
- Huntsman International LLC
- Celanese Corporation
- Amzole India Pvt. Ltd
Key Takeaways from Glyoxal Market Study
- Global glyoxal market to flourish 1.5x from 2022-2032
- Cross linking polymers to be a top-application category, capturing more than 80% market and flourishing at a 4.7% CAGR until 2032
- By end-use, Glyoxal for the textile industry to expand at a CAGR of 5%
- U.S to emerge as the fastest-growing glyoxal market, documenting a 5% CAGR
- China to be the 2nd most opportunistic market, expected to be valued at US$ 455 Million in 2032