Glycidol is organic compound which contains both epoxide and alcohol functional groups which can be obtained through chlorine free as well as chlorine based methods. It has wide application potential in end user industries such as paints and plastics. Growing application potential in healthcare and pharmaceutical sector along with rising occurrence of infected transmitted diseases will promote product demand. Glycidol plays a vital role as an additive for preparation of pharmaceuticals, bioactive compounds and chemicals which will further positively favour market growth.
With the evident spread of infectious diseases global pharmaceutical market is expected to reach USD 1.3 trillion at the end of 2020. Greater pressure on healthcare budgets along with rising incidences of hospitalization due to chronic diseases, growing demand for effective medicines in emerging economies along with product innovation with high investments will escalate pharmaceutical industry growth with high volume of productions, thus driving product demand. Glycidol is widely used in the synthesis of antiviral drugs. Recent COVID 19 outbreak has led to large number of clinical trial and development of antiviral drugs will further enhance market growth.
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GLYCIDOL MARKET SEGMENTAL OVERVIEW
The report analyses the global glycidol market based on grade, application and geography.
GLYCIDOL MARKET BY APPLICATION
Various application considered in this study includes production of surface active compounds, additives in plastics, paints, pharmaceuticals, biocides and photographic chemicals. Wide application scope of glycidol in manufacturing cardiac drugs which lower high blood pressure, restore the heart rhythm and improve the overall work of the heart muscle will promote product demand. Increasing prevalence of heart diseases supported by huge investments in research for drug development will have positive impact on product demand.
GLYCIDOL MARKET BY GEOGRAPHY
The global market is studied for the key regions such as, North America, Europe, Asia Pacific and Rest of the World. Asia pacific region will register robust gains owing to growing vinyl compounds consumption and production. Chin is a major market for paints and coatings and plastics owing to huge development in end user industry including construction and automotive. Automotive industry is one of the leading sectors in India owing to high growth in production as well as sales volume. Large amount of younger population surge, economic growth, and increase in financial assistance through various institutions supported by availability of technology has increased vehicle sale, thus promoting automotive industry. These factors will drive demand for glycidol demand.
GLYCIDOL MARKET COMPETITOR ANALYSIS
The key players operating in this market includes HBCChem, Inc, Acros Organics, FUJIFILM WAKO PURE CHEMICAL CORPORATION, Meryer (Shanghai) Chemical Technology Co., Ltd., Nacalai Tesque Inc., KANTO CHEMICAL CO. INC, LGC Group, Hangzhou Dayangchem Co.,Ltd, FINETECH INDUSTRY LIMITED.
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