Report Description

Forecast Period

2024-2028

Market Size (2022)

USD1.67 billion

CAGR (2023-2028)

3.72%

Fastest Growing Segment

Ethylene Glycol Butyl Ether

Largest Market

Asia Pacific


Market Overview

Global E-Series Glycol Ether Market has valued at USD 1.67 billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 3.72% through 2028. The E-Series Glycol Ether is a group of ethylene oxide-based compounds that are known for their water-solubility and strong solvent properties. These glycol ethers are derived from alkyl ethers of ethylene glycol or propylene glycol. The E-Series Glycol Ethers includes ethylene glycol butyl ether acetate (EGBEA), ethylene glycol propyl ether (EGPE), ethylene glycol butyl ether (EGBE), ethylene glycol ethyl ether (EGEE), ethyl cellosolve, and others, which are widely used in various industries such as cleaning, pharmaceuticals, automotive, cosmetics, and more.

One of the key advantages of the E-Series Glycol Ether is its superior solvent strength, low volatility, and strong water compatibility, making it suitable for a wide range of applications. In particular, the construction sector has witnessed rapid growth, driving the demand for E-Series Glycol Ethers in water-based paints, varnishes, and other related products.

However, the outbreak of the Covid-19 pandemic has significantly impacted the market. The disruptions caused by halted productions, logistics disruptions, and supply chain gaps, along with various lockdown restrictions, have posed challenges to the market. Nevertheless, with the gradual recovery of industries and the increasing demand, the applications of E-Series Glycol Ether are witnessing growth.

Looking ahead, the E-Series Glycol Ether Market is expected to experience significant growth during the forecast period as industries continue to rebound and the demand for these versatile compounds continues to rise.

Key Market Drivers

Growing Demand of E-Series Glycol Ether from Paints & Coatings Industry

E-Series Glycol Ethers are versatile solvents used in a wide variety of applications, including paints, inks, cleaners, and electronics. Renowned for their excellent solvency, chemical stability, and compatibility with water and numerous organic solvents, these solvents play a vital role in enhancing the performance and functionality of various products.

Among the diverse applications, the paints and coatings industry stands out as a significant end-user of E-Series Glycol Ethers. With their exceptional properties, these solvents are incorporated into paint and coatings formulations to optimize the flow, leveling, and gloss of the final product. Moreover, they effectively prevent the paint from drying too quickly, ensuring a smoother and more uniform application.

In recent years, the global paints and coatings market has experienced remarkable growth, driven by the booming construction and automotive sectors. This surge in demand has subsequently led to an increase in the use of E-Series Glycol Ethers, fueling the expansion of the global market.

In conclusion, the escalating demand for E-Series Glycol Ether from the paints and coatings industry significantly contributes to the growth of the global E-Series Glycol Ether market. As the paints and coatings industry continues its upward trajectory, the demand for these solvents is expected to further intensify, propelling the global market to new heights.

Growing Demand of E-Series Glycol Ether from Pharmaceutical Industry

E-Series Glycol Ethers are versatile solvents widely employed in various industries, including pharmaceuticals, paints, cleaners, and electronics. These solvents are highly valued for their exceptional solvency, chemical stability, and compatibility with both water and numerous organic solvents.

Within the pharmaceutical industry, E-Series Glycol Ethers play a pivotal role as essential components in drug formulations. Their unique ability to dissolve a wide range of substances, regulate viscosity, and control the rate of evaporation make them indispensable in the production of topical creams, gels, lotions, and liquid oral medications.

The global pharmaceutical industry has experienced significant growth in recent years, fueled by factors such as the escalating prevalence of chronic diseases and increased investments in healthcare infrastructure. Consequently, the demand for E-Series Glycol Ethers has surged, facilitating the expansion of the global market.

In conclusion, the ever-growing demand for E-Series Glycol Ether from the pharmaceutical sector acts as a major catalyst for the global E-Series Glycol Ether market. With the pharmaceutical industry projected to continue its upward trajectory, the demand for E-Series Glycol Ether is set to increase, further bolstering the global market. This promising outlook underscores the pivotal role of E-Series Glycol Ethers in driving innovation and advancement across multiple industries. 


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Key Market Challenges

Volatility in Price of Raw Materials

The cost of raw materials is a substantial component of the overall production cost for E-Series Glycol Ethers. These prices can fluctuate due to a variety of factors, including supply disruptions, changes in demand, and currency exchange rates.

For instance, data from June 2022 indicates that raw material prices paid by Canadian manufacturers climbed 37% year over year. Such increases in raw material costs can directly impact the production cost of E-Series Glycol Ethers, making them more expensive to produce and, consequently, more costly for end-users. This can have significant implications for the market dynamics and stakeholders involved.

Price volatility of raw materials can have several impacts on the E-Series Glycol Ether market. Firstly, it can lead to increased production costs, which can reduce profit margins for manufacturers. As a result, manufacturers might face challenges in maintaining competitiveness or investing in further innovation. This could potentially discourage new entrants into the market, limiting competition and hindering the overall growth of the industry.

Secondly, if manufacturers pass these increased costs onto customers, it could lead to reduced demand for E-Series Glycol Ether, negatively impacting the market's growth. Higher prices may deter potential consumers from purchasing the product, especially when more affordable alternatives are available. This could potentially cause a shift in consumer preferences and affect the market share of E-Series Glycol Ethers.

On the other hand, if manufacturers choose to absorb these increased costs, it could lead to decreased profitability, which could impact their financial stability and ability to invest in research and development or expansion efforts. This may limit their capacity to stay competitive in the long run and hinder the introduction of new and improved products to the market.

In conclusion, the price volatility of raw materials for E-Series Glycol Ethers can have far-reaching consequences on various aspects of the market. From affecting production costs and profit margins to influencing consumer demand and market competition, it is crucial for industry players to closely monitor and adapt to these fluctuations to ensure sustainable growth and success.

Growing Environmental and Regulatory Concerns

E-Series Glycol Ethers are a diverse group of solvents widely used in various industries and applications. They find their utility in paints, cleaners, pharmaceuticals, and electronics, offering versatile solutions for different formulation requirements. However, it is important to be aware that these chemicals, like any other, come with certain environmental and health considerations.

Some glycol ethers, particularly those classified under the E-series, have been associated with potential adverse health effects, such as skin irritation and possible reproductive toxicity. These concerns have prompted further research and regulatory attention to ensure the safe use of these substances. Additionally, it is worth noting that the manufacturing process of glycol ethers can contribute to greenhouse gas emissions, which in turn can impact climate change.

The growing recognition of these environmental and health risks has led to increased regulatory scrutiny worldwide. Various regions have implemented regulations to restrict the use of certain glycol ethers and control their emission levels. These measures aim to safeguard human health and minimize the ecological impact associated with these chemicals.

Navigating the regulatory landscape can pose significant challenges for the E-Series Glycol Ether market. Compliance with these regulations often entails substantial costs, including investments in cleaner production technologies, implementation of rigorous safety protocols, and regular compliance checks. Manufacturers and businesses operating in this market must adapt to meet these requirements while ensuring the continued availability of effective solvents for their applications.

Moreover, these environmental and regulatory concerns have also influenced consumer behavior. Many individuals and businesses are increasingly inclined towards greener and safer alternatives, seeking products that align with their sustainability goals. This shift in consumer demand can potentially impact the growth and market dynamics of the E-Series Glycol Ether industry, prompting manufacturers to explore innovative solutions and develop more sustainable options.

In summary, the utilization of E-Series Glycol Ethers in various industries brings both benefits and considerations. It is crucial to strike a balance between the advantages they offer and the need to address potential environmental and health risks. Through ongoing research, regulatory measures, and market-driven demand for greener alternatives, the E-Series Glycol Ether market continues to evolve, aiming for safer and more sustainable practices.

Key Market Trends

Shift Towards Water-Based Formulations

Water-based formulations, which are characterized by water being the primary solvent, have gained substantial momentum across various industries. The key driving factor behind their growing popularity lies in their lower Volatile Organic Compound (VOC) content compared to solvent-based alternatives. This reduction in VOCs not only minimizes the environmental impact but also enhances safety profiles, making these formulations highly appealing to both industries and consumers alike.

In the realm of water-based formulations, E-Series Glycol Ethers play a pivotal role owing to their exceptional solvency, coalescing abilities, and compatibility with water. These properties have significantly contributed to the surging demand for E-Series Glycol Ethers, consequently fueling the growth of the global market.

A noteworthy trend that has emerged in this market is the increasing shift towards water-based coatings, primarily driven by mounting environmental concerns and regulatory pressures. Notably, E-Series Glycol Ethers are extensively utilized as solvents in these water-based coatings, thereby propelling their demand to new heights.

As industries strive to prioritize sustainability, the trend towards water-based formulations is expected to persist and even intensify in the foreseeable future. This enduring trend is anticipated to continue driving the demand for E-Series Glycol Ethers. Furthermore, the development of bio-based and eco-friendly glycol ethers holds promising potential for creating additional growth opportunities within the market.

To conclude, the shift towards water-based formulations stands as a significant and transformative trend in the global E-Series Glycol Ether market. As industries continue to prioritize sustainability and regulatory compliance, this trend is poised to further propel the growth and expansion of this dynamic market.

Segmental Insights

Type Insights

Based on the category of type, the ethylene glycol butyl ether segment emerged as the dominant player in the global market for E-Series Glycol Ether in 2022. Ethylene Glycol Butyl Ether (EGBE), also known as ethylene glycol butyl ether, is a compound synthesized from n-butyl alcohol and ethylene oxide. It finds extensive application as a solvent in various industries, including paints and surface coatings, detergents, surface cleaners, inks, and dyes. The growing demand for EGBE in paints and coatings can be attributed to its slow evaporation rate, high flash point, and excellent viscosity control properties, which contribute to the overall growth of the E-series glycol ether market.

Notably, paints and coatings account for nearly 60% of EGBE usage in Europe, highlighting its significance in this sector. Additionally, approximately 11% of EGBE is utilized in detergents and cleaners, while about 0.5% is employed in cosmetics and personal care products. These insights emphasize the diverse range of applications for EGBE across multiple industries, further solidifying its position as a versatile and indispensable solvent.

Application Insights

The paints and coatings segment is projected to experience rapid growth during the forecast period. The growth of e-commerce channels and the increasing focus on digitalization in the Paints and Coatings Industry have created a significant opportunity for key players to invest more in the glycol ether market. Manufacturers are recognizing the importance of research and development (R&D) as they strive to meet growing customer expectations for improved sustainability. Additionally, the industry is facing mounting environmental regulations, intensified competition, and cost pressures in mature economies. Furthermore, the expansion of the middle class in emerging markets is contributing to the overall growth of the market. These factors are driving manufacturers to make substantial investments in R&D and explore innovative solutions to stay competitive in this dynamic industry landscape.

 

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Regional Insights

Asia Pacific emerged as the dominant player in the Global E-Series Glycol Ether Market in 2022, holding the largest market share in terms of value. The robust growth of E-Series Glycol Ether in the Asia-Pacific (APAC) region can be attributed to several factors. Firstly, APAC has witnessed a flourishing production base for glycol ethers, driven by the high demand from major industries such as construction, automotive, and others. Additionally, the region's rapid urbanization and advancements have further contributed to the increased demand for E-Series Glycol Ether.

One of the key drivers for the growth of the building and construction sector in APAC is the government's initiative on infrastructural and building projects. This has led to a surge in construction activities, particularly in countries like South Korea and India. For instance, according to the International Trade Administration (ITA), the cumulative private construction in South Korea reached a value of US$120.3 billion in 2020, marking a significant increase of 20.4% compared to the previous year. Similarly, the construction sector in India is projected to reach a staggering US$1.4 trillion by 2025, while the real estate sector is estimated to hit the US$1 trillion mark by 2030, as per the National Investment Promotion & Facilitation Agency.

With the increasing infrastructural and construction developments in the region, the demand for E-Series Glycol Ether is anticipated to witness substantial growth. This versatile chemical compound finds applications in various sectors, including paints, lacquers, varnishes, and others. As a result, the Asia-Pacific region is expected to gain a larger share in the E-Series Glycol Ether industry during the forecast period.

Recent Developments

  • In November 2021, the Saudi Basic Industries Corporation (SABIC) announced the commencement of initial startup activities for the ethylene glycol plant-3 at Jubail United Petrochemical Company. This state-of-the-art plant incorporates innovative technologies that not only enhance production efficiency but also significantly reduce emissions, thereby contributing to sustainability and environmental stewardship in the market.
  • In July 2021, India Glycols (IGL) and Clariant joined forces to establish a new joint venture, with IGL holding a 49% stake and Clariant holding a 51% stake. This strategic collaboration aims to bolster the manufacturing of ethylene oxide derivatives and other green ethylene oxide derivatives. By harnessing sustainable production processes, the venture seeks to offer a wide range of high-quality products, while fostering market expansion and meeting the growing demand for eco-friendly solutions.
  • In September 2019, BASF, the world's leading chemical company, unveiled plans for the expansion of its integrated ethylene oxide and derivatives complex at the Verbund site. This expansion initiative encompasses the production of various derivatives, including E-Series Glycol Ethers and p-series glycol ethers, as well as non-ionic surfactants and other specialty products. With a primary focus on automotive applications, this expansion effort aims to drive growth and innovation in the market, catering to the evolving needs of the automotive industry.

Key Market Players

  • Eastman Chemical Co
  • Huntsman Corporation
  • Saudi Basic Industries Corporation (SABIC)
  • LyondellBasell Chemical Company
  • India Glycols Limited
  • Shell Chemical LP
  • Exxon Mobil Corporation
  • Sasol Ltd.
  • BASF SE
  • Dow Inc.

 By Type

By Application

By Region

  • Ethylene Glycol Propyl Ether
  • Ethylene Glycol Butyl Ether
  • Ethylene Glycol Butyl Ether Acetate
  • Others
  • Paints & Coatings
  • Cosmetics & Personal Care
  • Pharmaceutical
  • Automotive
  • Others
  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa
Report Scope:

In this report, the Global E-Series Glycol Ether Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • E-Series Glycol Ether Market, By Type:

o   Ethylene Glycol Propyl Ether

o   Ethylene Glycol Butyl Ether

o   Ethylene Glycol Butyl Ether Acetate

o   Others

  • E-Series Glycol Ether Market, By Application:

o   Paints & Coatings

o   Cosmetics & Personal Care

o   Pharmaceutical

o   Automotive

o   Others

  • E-Series Glycol Ether Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe

§  France

§  United Kingdom

§  Italy

§  Germany

§  Spain

o   Asia-Pacific

§  China

§  India

§  Japan

§  Australia

§  South Korea

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East & Africa

§  South Africa

§  Saudi Arabia

§  UAE

§  Kuwait

§  Turkey

§  Egypt

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global E-Series Glycol Ether Market.

Available Customizations:

Global E-Series Glycol Ether Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Global E-Series Glycol Ether Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Product Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1.    Markets Covered

1.2.2.    Years Considered for Study

1.2.3.    Key Market Segmentations

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Overview of the Market

3.2.  Overview of Key Market Segmentations

3.3.  Overview of Key Market Players

3.4.  Overview of Key Regions/Countries

3.5.  Overview of Market Drivers, Challenges, Trends

4.    Global E-Series Glycol Ether Market Outlook

4.1.  Market Size & Forecast

4.1.1.    By Value

4.2.  Market Share & Forecast

4.2.1.    By Type (Ethylene Glycol Propyl Ether, Ethylene Glycol Butyl Ether, Ethylene Glycol Butyl Ether Acetate, Others)

4.2.2.    By Application (Paints & Coatings, Cosmetics & Personal Care, Pharmaceutical, Automotive, Others)

4.2.3.    By Region

4.2.4.    By Company (2022)

4.3.  Market Map

4.3.1.    By Type

4.3.2.    By Application

4.3.3.    By Region

5.    Asia Pacific E-Series Glycol Ether Market Outlook

5.1.  Market Size & Forecast

5.1.1.    By Value

5.2.  Market Share & Forecast

5.2.1.    By Type

5.2.2.    By Application

5.2.3.    By Country

5.3.  Asia Pacific: Country Analysis

5.3.1.    China E-Series Glycol Ether Market Outlook

5.3.1.1.        Market Size & Forecast

5.3.1.1.1.           By Value

5.3.1.2.        Market Share & Forecast

5.3.1.2.1.           By Type

5.3.1.2.2.           By Application

5.3.2.    India E-Series Glycol Ether Market Outlook

5.3.2.1.        Market Size & Forecast

5.3.2.1.1.           By Value

5.3.2.2.        Market Share & Forecast

5.3.2.2.1.           By Type

5.3.2.2.2.           By Application

5.3.3.    Australia E-Series Glycol Ether Market Outlook

5.3.3.1.        Market Size & Forecast

5.3.3.1.1.           By Value

5.3.3.2.        Market Share & Forecast

5.3.3.2.1.           By Type

5.3.3.2.2.           By Application

5.3.4.    Japan E-Series Glycol Ether Market Outlook

5.3.4.1.        Market Size & Forecast

5.3.4.1.1.           By Value

5.3.4.2.        Market Share & Forecast

5.3.4.2.1.           By Type

5.3.4.2.2.           By Application

5.3.5.    South Korea E-Series Glycol Ether Market Outlook

5.3.5.1.        Market Size & Forecast

5.3.5.1.1.           By Value

5.3.5.2.        Market Share & Forecast

5.3.5.2.1.           By Type

5.3.5.2.2.           By Application

6.    Europe E-Series Glycol Ether Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value

6.2.  Market Share & Forecast

6.2.1.    By Type

6.2.2.    By Application

6.2.3.    By Country

6.3.  Europe: Country Analysis

6.3.1.    France E-Series Glycol Ether Market Outlook

6.3.1.1.        Market Size & Forecast

6.3.1.1.1.           By Value

6.3.1.2.        Market Share & Forecast

6.3.1.2.1.           By Type

6.3.1.2.2.           By Application

6.3.2.    Germany E-Series Glycol Ether Market Outlook

6.3.2.1.        Market Size & Forecast

6.3.2.1.1.           By Value

6.3.2.2.        Market Share & Forecast

6.3.2.2.1.           By Type

6.3.2.2.2.           By Application

6.3.3.    Spain E-Series Glycol Ether Market Outlook

6.3.3.1.        Market Size & Forecast

6.3.3.1.1.           By Value

6.3.3.2.        Market Share & Forecast

6.3.3.2.1.           By Type

6.3.3.2.2.           By Application

6.3.4.    Italy E-Series Glycol Ether Market Outlook

6.3.4.1.        Market Size & Forecast

6.3.4.1.1.           By Value