Glyoxal Market Size, Share, Growth Analysis, By Application Insights(Oil & gas is the major application sector and accounted for 30.4% of the overall volume in 2015. Glyoxal is widely used as a cross-linker for oil recovery, and sulfur scavenger in gas sweetening processes. The recent crash in crude oil prices owing to shale gas discoveries in North America has led to higher oil refining activities in the region. Advanced economies such as the U.S. and Canada are likely to dominate the market for glyoxal applications in this field. Additionally), By Regional Insights(Asia Pacific glyoxal market led the global industry and accounted for over 65% of the overall volume share in 2015. Rising demand from key end-use industries such as paper, textile) - Industry Forecast 2024-2031

Segmentation Analysis:

The Glyoxal Market is segmented by Application Insights, Regional Insights. We are analyzing the market of these segments to identify which segment is the largest now and in the future, which segment has the highest growth rate, and the segment which offers the opportunity in the future.

• Based on Application Insights the market is segmented as, Oil & gas is the major application sector and accounted for 30.4% of the overall volume in 2015. Glyoxal is widely used as a cross-linker for oil recovery, and sulfur scavenger in gas sweetening processes. The recent crash in crude oil prices owing to shale gas discoveries in North America has led to higher oil refining activities in the region. Advanced economies such as the U.S. and Canada are likely to dominate the market for glyoxal applications in this field. Additionally, rising energy needs in emerging economies have led to a high demand for processed oil products in various end-use industries across China, India, Thailand, Vietnam, South Korea, and other Southeast Asian countries, Resins & polymers, which accounted for 16.7% of the overall volume in 2015, and is expected to command a greater share by 2024. The chemical finds application as a cross-linking agent in various polymerization processes. The chemical is gaining importance in cross-linking and masking nucleophiles such as sulfites, amides, amino groups, and hydroxy groups., Glyoxal is widely utilized as a crosslinking agent or building block for textiles in order to facilitate softer and less wrinkled clothes. The product is increasingly being utilized across emerging textile industries in Asia Pacific on account of its biodegradable and sustainable nature. Glyoxal displays significant potential as a substitute for aldehydes and is likely to gain a higher market share owing to advantageous product characteristics over the coming years., The global paper packaging market has received an impetus in recent years owing to the increasing problems of land-fill and non-biodegradability of common plastic packaging materials. Slow degradation rates, high prices, and increasing consumption rates of individualized consumer goods are driving the substitution of plastic packaging with eco-friendlier alternatives such as paper.
• Based on Regional Insights the market is segmented as, Asia Pacific glyoxal market led the global industry and accounted for over 65% of the overall volume share in 2015. Rising demand from key end-use industries such as paper, textile, and oil & gas is anticipated to be a major driving factor for the region’s growth. The region is anticipated to maintain its dominance in 2024 as a result of huge demand in the cosmetic industry purposing cosmetic products that include moisturizers, sunscreen creams, and lotions., North America is projected to grow at an estimated CAGR of 7.5% from 2016 to 2024. Increasing activity around oil & gas exploration along with strong demand from the packaged food industry is touted to drive demand in the region. Glyoxal finds wide application scope in end-use industries such as agrochemicals and pharmaceuticals and will subsequently benefit North America industry dynamics., In Europe, increasing demand from end-use industries such as paper packaging, wood adhesives, and leather along with the 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., In the Middle East & Africa, exponential growth in the construction industry is anticipated to witness a growing demand for Glyoxal in this region. In addition, Central & South America is projected to a sluggish growth over the coming years due to rising domestic prices and lower consumer spending., Global Glyoxal Market Share Insights