Newark, NJ, Feb. 03, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the is expected to grow from USD 136 million in 2019 and to reach USD 205.57 million by 2027, growing at a CAGR of 5.3% during the forecast period 2020-2027.

The global glycidol market has witnessed significant growth in recent years. This growth is attributed to the increasing plastic consumption and increasing demand for paints from the automotive and construction sector, increasing consumer awareness regarding personal grooming, increasing prevalence of lifestyle disorders like heart problems, cholesterol and obesity, and diabetes. Other factors, including the rapid growth of the plastic industry and increasing applications of the products as a solvent in paint manufacturing, will propel market growth.

An organic compound that contains both alcohol and epoxide functional groups is known as glycidol. Glycidol is used as an important key intermediate for the preparation of pharmaceuticals, chemicals, and bioactive compounds. Glycidol is a slightly colorless, viscous, and odorless liquid cyclic ether. Glycidol is also used as a stabilizer for vinyl polymers and natural oils and an alkylating agent. Glycidol exposure irritates eyes, skin, and mucous membrane and depresses the central nervous system in humans.

The global glycidol market is expected to witness significant growth, owing to the increasing awareness regarding personal grooming, increasing demand for the healthcare sector, and rising occurrences of infection transmitted diseases. The factors hampering the market growth are increasing consumer preference towards natural and chemical-free cosmetic products and the carcinogenic and toxicological nature of glycidol.

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The key players operating in the global glycidol market are Meryer (Shanghai) Chemical Technology, Fujifilm Wako Pure Chemical Corporation, Finetech Industry Limited, Acros Organics, HBCChem, LGC Group, Hangzhou Dayangchem, Kanto Chemical Co. Inc, The Good Scents Company, and Nacalai Tesque. To gain a significant market share in the global glycidol market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.

For instance, in December 2016, Wako Pure Chemical Industries Ltd., a Takeda Pharmaceutical Company subsidiary, was acquired by Fujifilm Corporation. This acquisition helped the company develop new high-functional reagents, including the next-generation products for highly competitive polymerization initiators.

Glycidol 96% segment dominated the market and held the largest share of 32.56% in the year 2019

On the basis of grade, the global glycidol market is segmented into glycidol below 95%, glycidol 96%, glycidol 97%, and glycidol above 97%. Glycidol 96% segment dominated the market and held the largest share of 32.56% in the year 2019. This growth is attributed to the increasing applications in the production of vinyl and epoxy polymers, increasing usage of products as a solvent in the manufacturing of pains, and rising demand for different types of paint from the automotive and construction sector. Glycidol 97% is anticipated to witness significant growth due to increasing applications as an additive in paint manufacturing and plastic manufacturing.

Pharmaceutical segment dominated the market and held the largest market share of 25.9% in the year 2019

On the basis of application, the global glycidol market is segmented into additives in plastics, production of surface-active compounds, paints, photographic chemicals, biocides, pharmaceuticals, and others. Pharmaceutical segment dominated the market and held the largest market share of 25.9% in the year 2019. The production of surface-active compounds segment is further segmented into cosmetic preparations, laundry detergents, and others. This growth is attributed to increasing chronic health disorders like blood pressure, diabetes, heart diseases, obesity, and the growing demand for cardiac drug production.

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Regional Segment of Glycidol Market

On the basis of geography, the global glycidol market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The Asia-Pacific region held a major share of 37.2% in the year 2019. This growth was attributed to the increasing applications of the product as an additive for manufacturing vinyl polymers and increasing production of consumption of vinyl compounds. China holds the largest share from Asia, owing to its expansion in the paints and plastic industries. North America is anticipated to witness significant growth, owing to the rapidly growing pharmaceutical sector across the region. Due to rising consumer awareness towards personal grooming, Europe is projected to grow to look more presentable and increase cosmetic products.

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About the report:

The global glycidol market is analysed on the basis of value (USD million). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, and competitors position grid analysis.

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Fior Markets is a futuristic market intelligence company, helping customers flourish their business strategies and make better decisions using actionable intelligence. With transparent information pool, we meet clients’ objectives, commitments on high standard and targeting possible prospects for SWOT analysis and market research reports. Fior Markets deploys a wide range of regional and global market intelligence research reports including industries like technology, pharmaceutical, consumer goods, food and beverages, chemicals, media, materials and many others. Our Strategic Intelligence capabilities are purposely planned to boost your business extension and elucidate the vigor of diverse industry. We hold distinguished units of highly expert analysts and consultants according to their respective domains. The global market research reports we provide involve both qualitative and quantitative analysis of current market scenario as per the geographical regions segregated and comprehensive performance in different regions with global approach. In addition, our syndicated research reports offer a packaged guide to keep companies abreast of the upcoming major restyle in their domains. Fior Markets facilitates clients with research analysis that are customized to their exact requirements, specifications and challenges, whether it is comprehensive desk research, survey work, composition of multiple methods, in-detailed interviewing or competitive intelligence. Our research experts are experienced in matching the exact personnel and methodology to your business need.

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