Global Glycol Ether Revenue Sales to Reach US$ 10.09 Bn by 2024 End - Persistence Market Research

NEW YORK, January 23, 2017 /PRNewswire/ --

In a recently published market research report titled "Global Market Study on Glycol Ether: MEA Region Projected to Grow at a Moderate CAGR over the Forecast Period," a Persistence Market Research analyst concludes, "The US$ 6 Bn glycol ether market is slated to exceed a value of US$ 10 Bn by the end of 2024, expanding at a CAGR of over 6%. Volume-wise, the market will witness a moderate CAGR of 5.4% over the eight-year period. Asia Pacific and Europe will remain the key markets."

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Key Driver Insights 

Growing consumption by various end-use industries will remain the primary factors driving the sales of glycol ether. Rising introduction of new variant products with the help of a wide variety of eco-friendly and renewable technologies will be another key driver to market growth. Development of innovative, cost-effective products is anticipated to further boost the market for glycol ether.

PCE is widely used in degreasing and dry cleaning but is not eco-friendly and is hazardous to human health. Some forms of glycol ether on the market are identified to be the relatively decent alternatives to PCE, eventually fueling their demand in the market over the next few years.

View Full Glycol Ether Market Report Overview@ http://www.persistencemarketresearch.com/market-research/glycol-ethers-market.asp

Key Trend & Opportunity Insights 

Several governments are increasingly promoting the use of P-series glycol ethers over the use of E-series glycol ethers. This trend is likely to present new opportunities for leading players. In addition to paints, coatings & adhesives, cleaners, printing inks, and cosmetic sectors are also registering significant consumption of glycol ethers.

Flourishing cleaners, printing inks and electronics & semiconductor sectors will also continue to bring in new growth opportunities. Moreover, as manufacturing and healthcare industries continue to thrive at pace, the demand for cleaning chemicals will also remain on the rise through 2024. Manufacturers are likely to capitalize over such end-use opportunities in near future.

Key Segment Insights 

By product type, E-series glycol ether segment will witness a decline by 470 BPS over 2016-2024. P-series glycol ether segment will however exhibit significant growth, accounting for a whopping 71.6% revenue share in 2024.