Global Glyoxal Market Report and Forecast 2024-2032

Global Glyoxal Market Outlook

The global glyoxal market reached a value of about USD 304.49 million in 2023. The market is further estimated to grow at a CAGR of 4.60% in the forecast period of 2024-2032.

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Rising Utilisation of Glyoxal in Paper Packaging to Propel the Market Growth of Glyoxal

Based on end use, the growing demand for paper packaging segment is driving the market growth of glyoxal. The application of glyoxal as a cross-linking agent to enhance the paper dry strength and as an efficient paper coating additive for high-quality papers is fuelling the market for glyoxal. The rising inclination of consumers towards paper packaging owing to its eco-friendly nature is playing a critical role in the market expansion of glyoxal. The expanding food packaging sectors and the utilisation of glyoxal as a chemical substance in the production of paper for food packaging owing to its accreditation by the Federal Institute for Risk Assessment (BfR) in Germany and by the Food and Drug Administration (FDA) in the U.S are accelerating the market development. The emergence of e-commerce, home deliveries and the increasing use of paper packaging in them are likely to aid the market for glyoxal over the forecast period.

Market Segmentation

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Glyoxal is an important component used in various chemical applications due to its diverse properties. It is a crystalline solid that is white at low temperature, pale yellow at the melting point, and evaporates to give a green coloured gas. The organic compound has a weak sour odour and is miscible with water and all water-miscible organic solvents.

The market for glyoxal, by application, is divided into:

• Crosslinking
• Intermediates
• Others

Based on end use, the market is segmented into:

• Textiles
• Leathers
• Resins and Polymers
• Cosmetics
• Paper Packaging 
• Oil and Gas
• Others

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The regional markets for glyoxal can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Growing Use of Glyoxal in Various End Use Sectors to Drive the Market Growth of Glyoxal

The rising utilisation of glyoxal in various end use sectors such as oil and gas, leather, and cosmetics is contributing to the market development of glyoxal. The growing textiles industry and the utilisation of glyoxal as a crosslinking agent to soften the textiles and reduce the wrinkles are fuelling the market development. In addition, the growing concerns over the hygienic environment and the application of glyoxal as a co-biocide for disinfectants used in the health and veterinary clinics are expanding the market of glyoxal. The limited availability of petrochemicals and the toxicity are leading to reduced use of petrochemicals in wood adhesives, resulting in the use of glyoxal cross-linked polyvinyl alcohol- microcrystalline cellulose blends for improved thermo-mechanical properties, thereby propelling the market.

The sustainability of glyoxal as it is readily biodegradable is leading to its broader adoption in various applications, which is invigorating the market expansion of glyoxal. Moreover, the government initiatives in manufacturing alcohol-based products like glyoxal to meet the growing demand are providing impetus to the market growth of glyoxal. The strong presence of market players offering a reliable supply of glyoxal is expected to augment the market over the forecast period.

Key Players in the Global Glyoxal Market

The report gives a detailed analysis of the following key players in the global glyoxal market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• WeylChem International GmbH
• Haihang Group
• Otto Chemie Pvt. Ltd
• BASF SE
• Amzole India Pvt. Ltd.
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
 

Key Highlights of the Report