SAN FRANCISCO, Jan. 27, 2020 /PRNewswire/ — The global diethylene glycol monoethyl ether market size is projected to reach USD 538.8 million by 2025, expanding at a CAGR of 5.3%, according to a new report by Grand View Research, Inc. Increasing penetration of the product in floor polish and paints, coatings, and inks application is expected to drive the industry over the coming years.
Rising preference of diethylene glycol monoethyl ether market for manufacturing water-based coatings is a major factor contributing to the growth of the overall market for DEGEE. Moreover, there is growing use of the product in formulation of variety of cleaning agents for industrial, household, and institutional cleaners. This factor has positively affected the product demand in cleaning agents. Asia Pacific and Eastern Europe are characterized by rapid urbanization, which is anticipated to propel the demand for residential, commercial, and industrial construction, thereby positively affecting the market for DEGEE.
Key suggestions from the report:
- Floor polish application was the largest consumer of the product owing to its excellent solvent properties and accounted for 35.4% of total market size, in terms of volume, in 2018
- The paints, coatings, and inks segment is expected to exhibit highest growth rate of 5.5%, in terms of revenue, over the forecast period on account of growing demand of the product in water based and solvent based paints
- High absorbency characteristic of DEGEE market is anticipated to increase its demand as a chemical intermediate in variety of chemical blending processes
- Asia Pacific dominated the industry with a volume share of 54.1% in 2018
- Europe is expected to witness a CAGR of 5.2%, in terms of revenue, from 2019 to 2025 due to the presence of major personal care product manufacturing companies, particularly in U.K., France, and Germany and high investment in production of innovative and effective personal care products.
Read 100 page research report with ToC on “Diethylene Glycol Monoethyl Ether Market Size, Share & Trends Analysis Report By Application (Paints, Coatings, & Inks, Chemical Intermediate, Pharmaceutical & Personal Care), By Region, And Segment Forecasts, 2019 – 2025” at: https://www.grandviewresearch.com/industry-analysis/diethylene-glycol-monoethyl-ether-degee-market
The product is majorly used in skin treatment formulations in the form of topical creams or gels. Diethylene glycol monoethyl ether is considered to be a safe and tolerable pharmaceutical-grade glycol ether when used at 99.9% purity. It also acts as an intracutaneous depot for multiple drugs to reach different layers of the skin. The solvent is massively gaining demand in dermatology sector as it has the ability to penetrate through the eisoderm of the skin and aid in healing the root cause. Owing to these factors, the product is anticipated to witness high growth in pharmaceutical and personal care application in near future.
Ethylene oxide, which is precursor in manufacturing of DEGEE, is highly regulated by multiple regulatory authorities such as U.S. EPA. These regulations impact the production and industrial consumption of ethylene oxide, thus affecting the entire manufacturing cycle of ethylene oxide-based products. Currently, U.S. is one of the major producers of ethylene oxide owing to abundant availability of feedstock. However, increased restrictions on ethylene oxide plants are anticipated to hinder its production, which, in turn, is expected to have a negative impact on diethylene glycol monoethyl ether manufacturers.
Royal Dutch Shell plc; Ineos; Sinopec; and Mitsui Chemical America, Inc. are the key raw material suppliers to the diethylene glycol monoethyl ether producers. Key product manufacturers are Advance Petrochemicals Ltd., Eastman Chemical Company, Dow, Solventis, LyondellBasell Industries Holdings B.V., and Huntsman Corporation. These players work in collaboration with oil and gas companies in order to ensure uninterrupted and long term procurement of raw materials.
Grand View Research has segmented the global diethylene glycol monoethyl ether market based on application and region:
- DEGEE Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
- Paints, Coatings & Inks
- Chemical intermediate
- Floor Polish
- Pharmaceutical & Personal Care
- Other Applications
- DEGEE Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
- North America
- Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Latin America
- Middle East and Africa
Find more research reports on Paints, Coatings & Printing Inks Industry, by Grand View Research:
- Silicone Coating Market – The global silicone coating market size was valued at USD 4.07 billion in 2016 and is expected to be growing at a CAGR of 5.9% during the forecast period.
- Chemical Indicator Inks Market – The global chemical indicator inks market size was valued at USD 39.4 million in 2015. The market is expected to witness growth at a CAGR of around 8% over the forecast period.
- Colorants Market – The global colorants market size was estimated at 2,025 kilo tons in 2015. It is expected to witness a significant growth on account of increasing demand for dyes and pigments.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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