Diethylene Glycol Monoethyl Ether Market Worth $538.8 Million by 2025

Grand View Research, Inc.

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- ...