E-Series Glycol Ether Market - Forecast(2023 - 2028)

E-Series Glycol Ether Market Overview

The E-Series Glycol Ether Market size is estimated to reach US$2.3 billion by 2027 after growing at a CAGR of 4.2% during the forecast period 2022-2027. The E-Series Glycol Ether is ethylene oxide-based, water-soluble, and a strong solvent. The glycol ether forms solvents that are based on alkyl ethers of ethylene glycol or propylene glycol. The E-Series Glycol Ethers consist of ethylene glycol butyl ether acetate (EGBEA), ethylene glycol propyl ether (EGPE), ethylene glycol butyl ether (EGBE), ethylene glycol ethyl ether (EGEE), or ethyl cellosolve and others that have major demand for applications in cleaning, pharmaceuticals, automotive, cosmetics, and others. The E-Series Glycol Ether offers superior properties such as solvent strength, low volatility, and strong water compatibility thereby having applicability across various end-use industries. Moreover, the rapid growth in the construction sector is propelling the demand for E-Series Glycol Ethers for applicability in water-based paints, varnishes, and others, thereby acting as a driver for the market. The covid-19 outbreak created major disruptions in the market due to factors such as halted productions, logistics disruptions, demand and supply chain gaps, and other lockdown restrictions. However, with the robust demand and recovery in industries, the applications of E-Series Glycol Ether are growing. This is anticipated to boost the growth in the E-Series Glycol Ether Market during the forecast period.

Report Coverage

The report: “E-series Glycol Ether Market Report – Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the E-Series Glycol Ether Market.

Key Takeaways

• Asia-Pacific dominates the E-Series Glycol Ether Market, owing to the flourishing applications of E-Series Glycol Ethers in major sectors such as construction, pharmaceuticals, cosmetics, and others, along with major urbanization and established base in this region.
• The flourishing building and construction industry is driving the E-Series Glycol Ether Market, owing to increasing demand for paints, coatings, lacquers, and others, thereby boosting the growth in the market.
• The bolstering demand for E-Series Glycol Ethers in the cosmetic & personal care sector for applications in face care products, body care, and hair care is increasing, thereby offering major growth in the market.
• However, the hazardous impacts of the E-Series Glycol Ethers such as nausea, respiratory irritations, and others create a major challenge in the market, due to restrictions implemented on the usage of such toxic substances.

 Figure: Asia-Pacific E-series Glycol Ether Market Revenue, 2021-2027 (US$ Billion)

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The paints segment held a significant share in the E-Series Glycol Ether Market in 2021 and is forecasted to grow at a CAGR of 4.5% during the forecast period 2022-2027. The robust growth of E-Series Glycol Ether for paint applications is influenced by its superior features such as favorable solvent properties, high boiling point, water dissolvability, and suitability in different weather conditions. The paints have flourishing applications in the construction and automotive industries. The construction sector is growing rapidly due to factors such as urbanization, increasing spending on infrastructure development, and initiatives for additional housing construction. For instance, according to Oxford Economics, the global construction sector output is projected to reach US$15.2 trillion between 2020 and 2030, with an increase of 42%. The paints also have major demand in the automotive sector. According to the International Organization of Motor Vehicle Manufacturers (OICA), global automotive production saw a growth of 3% in 2021 compared to a fall of 16% in 2020. The total productions increased from 77,621,582 units in 2020 to 80,145,988 units in 2021. With the growth in automotive vehicle production building and construction activities across the globe, the demand for paint application is projected to rise rapidly, which will offer major growth for paint applications in the E-Series Glycol Ether Market during the forecast period.

E-Series Glycol Ether Market Segment Analysis – By End-Use Industry

The Building & Construction segment held a significant share in the E-Series Glycol Ether Market in 2021 and is forecasted to grow at a CAGR of 5.1% during the forecast period 2022-2027. The E-Series Glycol Ether has growing applications in the building and construction industry for water-based paints, lacquers, and others. The rapid growth in the construction sector is due to rising income, urbanization, emphasis on sustainable and green buildings, and rising production for various architectural and infrastructural projects. For instance, according to the US Census Bureau, construction spending in the US rose from US$1524.2 billion in April 2021 to US$1,744.8 billion in April 2022. According to the Make in India, by the government of India, the construction of around 2.95 crores of houses has been set under the ‘Housing for All’ by the year 2024. With the increase in the construction of housing units, buildings, and other projects across the globe, the demand for E-Series Glycol Ethers for applications in paints, lacquers, varnishes, and others is anticipated to rise, which is projected to boost the market growth in the building & construction sector during the forecast period.

E-Series Glycol Ether Market Segment Analysis – By Geography

The Asia-Pacific region held the largest share in the E-Series Glycol Ether Market in 2021 up to 42%. The robust growth of E-Series Glycol Ether in APAC is influenced by a flourishing production base for glycol ethers, high demand from major industries such as construction, automotive, and others, and booming urbanization and rapid advancements in this region. The building & construction sector in APAC is growing rapidly due to factors such as the government’s initiative on infrastructural and building projects, urbanization, and demand for residential housing. According to the International Trade Administration (ITA), the cumulative private construction in South Korea was valued at US$120.3 billion in 2020, showing an increase of 20.4% compared to 2019. According to the National Investment Promotion & Facilitation Agency, the construction sector in India is forecasted to reach US$1.4 trillion by 2025 and the real estate sector is estimated to reach US1 trillion by 2030. Thus, with the growing Infrastructural and construction developments, the demand for E-Series Glycol Ether for various applications in paints, lacquers, varnishes, and others is anticipated to grow, which will boost the share of the Asia-Pacific region in the E-Series Glycol Ether industry during the forecast period.

Bolstering Growth of the Cosmetic & Personal Care Industry

The E-Series Glycol Ether has flourishing demand in the cosmetic and personal care industry for various applications in skin care products, hair care, body care, and others. The cosmetic and personal care sector is flourishing due to factors such as a rise in beauty and hygiene trends, changing lifestyles, and increasing demand for color cosmetics across the globe. For instance, according to the International Trade Administration, the revenues of the beauty and personal care sector in Thailand reached US$4.2 billion in 2021 and is estimated to grow at a rate of 5.5% through 2025, with the largest share of 42% by skincare, 12% by dental care, 14% by soaps and hygiene, and 15% by hair care. According to the L'OREAL annual report in 2021, the worldwide growth of the cosmetics sector rose by 8.2% in 2021 after showing a decline of 8.1% in 2020. With the rise in skin care, hair care, and others in the cosmetics & personal care industry, the demand for E-Series Glycol Ether is rising, which is offering a drive and major growth opportunities in the E-Series Glycol Ether Market.

Rising Demand from the Pharmaceuticals Industry

The E-Series Glycol Ethers such as ethylene glycol propyl ether (EGPE), ethylene glycol butyl ether (EGBE), and others have major demand in the pharmaceutical industry for applications in medicines, laxatives, ointments, eye drops, and others. The pharmaceutical industry is growing rapidly due to emerging medical conditions, the development of new medicines, and advancement in the medical infrastructure. For instance, according to the India Brand Equity Federation (IBEF), the pharmaceuticals sector in India was valued at US$42 billion in 2021 and is projected to reach US$120-US$130 billion by 2030. According to the European Federation of Pharmaceutical Industries and Association (EFPIA), the total production of pharmaceuticals rose from 293213 in 2019 to 310000 in 2020. With the rise in pharmaceutical production and growth, the applications of E-Series Glycol Ether in ointments, medications, and other drugs are growing. Thus, the flourished demand from pharmaceuticals is driving and offering major growth in the E-Series Glycol Ether industry.

E-Series Glycol Ether Market Challenges

Hazardous Nature of E-series Glycol Ether

The ethylene glycol e-series ethers are toxic and create major hazardous impacts on the environment and human health. The low molecular E-Series Glycol Ethers such as ethylene glycol ethyl ether (EGEE) or ethyl cellosolve and ethylene glycol methyl ether (EGME) release toxic gases into the environment. Various restrictions and regulations are implemented for limiting the usage of such hazardous glycol ethers from REACH, PNEC, and others. Moreover, the European Union and Canada have adopted regulations for limiting the use of E-Series Glycol Ethers in consumer goods. For instance, Annex XVII to REACH restricts the toxic substances in consumer products, including various glycol ethers. Thus, owing to such restrictions and toxic effects, the demand and applications of E-Series Glycol Ethers face major impact and slowdown, thereby creating a challenge in the market.

E-Series Glycol Ether Industry Outlook

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the E-Series Glycol Ether Market. E-Series Glycol Ether top 10 companies are:

1.  BASF SE
2. Eastman Chemicals
3. The Dow Chemical Company
4.  Basic Industries Corporation (SABIC)
5. LyondellBasell Chemical Company
6. Huntsman Corporation
7. Shell Chemicals
8. Sasol Limited
9.  India Glycols Limited
10. INEOS

E-Series Glycol Ether Market Recent Developments

• In November 2021, the SABIC announced the initial startup activities of the ethylene glycol plant-3 at Jubail United Petrochemical Company. The new plant uses innovative technologies and reduces emissions and offers sustainability in the market.
• In July 2021, the India Glycols and Clariant formed a new joint venture, with a 49% stake by IGL and 51% by Clariant. The venture aimed to boost the manufacturing of ethylene oxide derivatives and other green ethylene oxide derivatives, thereby offering expansion in the market.
• In September 2019, the BASF announced the expansion of the integrated ethylene oxide and derivatives complex at the Verbund site. The derivatives include E-Series Glycol Ethers and p-series glycol ethers, non-ionic surfactants, and others for application in automotive, thereby boosting growth in the market.

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