The Global Glycidol Market was valued at USD 8,190.2 Million in 2019 and is projected to reach USD 13,205.5 Million by 2027, expanding at a CAGR of 7.8% during the forecast period. Glycidol is an organic compound which contains alcohol and epoxide functional groups. Glycidol has a variety of industrial uses because it is bifunctional. The compound is a slightly viscous liquid that is slightly unstable and is not often encountered in pure form.
Market Dynamics
Rapid industrialization and urbanization are boosting the need for additives used in the paint industry. Moreover, the growth of the middle-class population in emerging economies is fueling the global paint industry. This fuels the global glycidol market, as the paint industry requires glycidol, as an additive.
Key players focus on launching cost effective paint products using glycidol as an active ingredient, thus boosting market growth. Moreover, mergers & acquisitions and other expansion activities by companies are driving the market in various regions.
The growth of the construction industry in developing countries is fueling the demand for plastics, which in turn, is driving the glycidol market growth. Moreover, the expansion of the market can be attributed to the rise in foreign investment (FDI) requirements and norms for better industrial and public infrastructure, is boosting the need for additives such as glycidol. However, strict government regulations on the use of glycidol, due to its environmental effect are hampering the growth of the market in some countries across the globe.
Segmental Outlook
Based on types, the Global Glycidol Market can be segmented into glycidol 96%, glycidol 97%, glycidol 98% and other. The glycidol 96% segment is anticipated to expand at a CAGR of 6.5% during the forecast period due to increasing industrial applications. Moreover, this segment held a significant share of the market in 2019, as it is a highly preferred compound used for paint preparation.
Regional Outlook
In terms of regions, the global Glycidol market has been fragmented into Europe, North America, Latin America, Asia Pacific and Middle East & Africa. North America is a promising region for the market. The region constituted significant share of the market in 2019. Significant market share of North America is attributed to the presence of advanced technologies in the chemical industry. New energy infrastructure and radical changes in chemical industry, towards renewable energy sources, creates opportunities for industrial growth in Europe. The market in Asia Pacific region is expected to grow at a significant rate during the forecast period. Rationalization of capacity will gain traction in this market. Glycidol has its wide application in pre-engineered buildings for material, and structures frameworks. Rising demand for consumer durables and capital goods is supporting market growth in Latin America.
Key Benefits for Industry Participants & Stakeholders
- Industry drivers, restraints, and opportunities covered in the study
- Neutral perspective on the global glycidol market performance
- Recent industry trends and developments
- Competitive landscape & strategies of key players
- Potential & niche segments and regions exhibiting promising growth covered
- Historical, current, and projected market size, in terms of value
- In-depth analysis of the global glycidol market
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