Oil & Gas Industry Pilots Higher Demand for Glyoxal in the Coming Years, reports Fact.MR Study

BASF SE is the front runner in the glyoxal market, with around 80 thousand metric tons of glyoxal annual output and over 30% of the glyoxal market revenues.

Rockville, United States - November 18, 2019 /MarketersMedia/ —

Fact.MR has recently updated a new study that translates the importance of glyoxal in the chemical industry together with its high-end application across diverse sectors including oil & gas. This report is titled “Glyoxal Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2018 to 2027”, which provides an exhaustive discussion centered at the robust research methodology abided during the course of the glyoxal market study. Readers can access a detailed step-wise analysis followed by a thorough discussion on primary and secondary research tactics. The assessment clearly high-points a comprehensive analysis which talks about growth prospects and developments across the glyoxal market during the period until 2027. Based on research findings, the glyoxal market is anticipated to grow at 4.2% volume CAGR by the end of 2027.

In the past few years, major investments in the chemical industry are focused at developing chemical intermediates comprising eminent traits such as higher biodegradability. Glyoxal is marked as one of the imperative chemical intermediates that is used in niche industry verticals due to its higher biodegradability. Keeping a stern outlook towards sustainability as a primary factor across end-user industries, different manufacturers in the glyoxal marketplace are engaging themselves to introduce glyoxal compounds that hold advanced sustainability grades.

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Textile Industry Acquires More Than 51% of Glyoxal Consumption

According to this Fact.MR study, enthusiasm in the textile industry would prove beneficial for glyoxal market since this particular sector acquired over 51% consumption in the global market in 2018. Furthermore, growing rate of urbanization and hike in urban consumers spending on high-standard clothing will lead to profitability for textile sector in the coming years. In addition, higher consumer inclination for non-woven, wrinkle-free and soft clothing, application of glyoxal in the textile and apparel sectors is expected to surge until 2027.

Oil & Gas Sector Likely to Uphold Health Opportunities for Glyoxal

In the last few years, the oil and gas industry is calibrating in order to offset the weak prices. Looking at the rising productivity efficiency, the U.S. oil production has enhanced and is projected to experience an upward growth trend in the near future. This scenario is thereby supporting the demand for improved oil recovery as a result of amplified oil wells development. Glyoxal is regarded as an important crosslinking intermediate that assists in the oil extraction process part of the immiscible phase. Moreover, during the enhanced oil recovery (EOR) stage, fracturing fluids when put in the presence of glyoxal (a chemical intermediate) perform better. In simple words, glyoxal aids the crosslinking between polymers of fracturing fluid; hence, increasing the fluid’s viscosity and permitting to create fracture in oil sediments and eventually releasing the crude.

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Asia Pacific Promises to Deliver Higher Revenue Share during Forecast Period

The study discourses that Asia Pacific excluding Japan (APEJ) accounted more than half the global glyoxal consumption in 2018, and is expected to continue with trend with a 5.2% Y-o-Y growth in 2019. Focusing on the regional consumption, China exhibits the highest consumption rate for glyoxal, especially East China. On the other hand, North America and Europe have been registered as other prominent regions showcasing the largest consumption of glyoxal.

Some of the prime market players as mentioned in the report include names like BASF SE, DowDuPont, Celanese Corporation, Huntsman International LLC, Zhonglan Industry Co. Ltd. and Hubei Hongyuan Pharmaceutical technology Co., Ltd.

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About Fact.MR

Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.

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Source URL: https://marketersmedia.com/oil-gas-industry-pilots-higher-demand-for-glyoxal-in-the-coming-years-reports-factmr-study/88934626

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Release ID: 88934626

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