London, Dec. 13, 2023 (GLOBE NEWSWIRE) -- The alkoxylates market is poised for substantial growth, projecting a robust CAGR of 5.2% from 2023 to 2030, elevating its valuation from US$7.3 Bn attained in 2022 to an impressive revenue of US$10.4 Bn by the end of the forecast period.
The surge in the market’s performance is attributed to the widespread applications in industries such as oil and gas, personal care, consumer goods, and agrochemicals. The momentum is further fuelled by the simplicity of raw material availability, and the adaptability of alkoxylates across various sectors.
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REPORT SCOPE
| Report Attributes | Details | |
| Base Year | 2022 | |
| Forecast Year | 2023 – 2030 | |
| Market Size in 2022 | US$7.3 Bn | |
| Estimated Market Size in 2030 | US$10.4 Bn | |
| CAGR | 5.2% | |
| Growth Drivers |
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| Segmentation |
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| Regional Coverage |
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| Key Players | Akzo, Solvay, PCC Group, Dow, Clariant AG, IMCD Group, BASF SE, Stepan Company, Croda International Plc, Indorama Ventures Public Company Limited, Lamberti S.p.A, Schärer and Schläpfer AG, VENUS ETHOXYETHERS PVT.LTD., Eastman Chemical Company, Kutnsman International LLC | |
The escalating demand for sustainable energy solutions emerges as a key growth determinant for this industry, with biodegradable and natural ethoxylates gaining stronger traction. The globally escalating demand for eco-friendly solutions, and the flourishing prospects of the personal care sector predominantly drive the growth of this market. The surge in oil and gas exploration activities further solidifies its growth outlook in the years to come.
“The oil and gas industry's increasing adoption of alkoxylates, especially as co-emulsifiers and corrosion inhibitors, will specifically provide the necessary tailwinds for market expansion,” states the company’s analyst. “However, challenges such as raw material pricing uncertainties, and stringent regulations necessitate strategic adaptation by market players to sustain and thrive in this dynamic landscape,” the analyst adds further.
Key Research Insights
- The fatty acid ethoxylates type segment maintains a robust position, offering versatility as viscosity regulators, antistatic additives, dispersants, and emulsifiers.
- The personal care end-user segment retains its leading position, fueled by the growing population and heightened focus on personal care and beauty products.
- The Asia Pacific region leads the global market, driven by a well-established oil and gas industry and a surge in alkoxylates demand.
Insights into Segmentation Analysis
Fatty Acid Ethoxylates Dominate, Surfactants Steal the Show
In 2022, fatty acid ethoxylates emerged as the frontrunner, claiming the title of the biggest revenue producer.
These ethoxylates, derived by ethoxylating fatty acids such as oleic acid, lauric acid, stearic acid, and coconut fatty acid, serve as non-ionic surfactants with high foam capabilities, solubility, and chemical stability. Their widespread adoption across various industries, showcasing excellent detergency properties, cements their leading position.
The projection period also witnesses growth in alkyl phenol ethoxylates, sorbitan ester ethoxylates, and glycerin alkoxylates, driven by escalating demand in consumer goods, agrochemicals, and the oil and gas industry.
Surfactants Maintain an Attractive Stature in Applications
Surfactants take the spotlight in the application segment, securing the highest income in 2022. Serving as fundamental cleaning agents in laundry and personal care products, surfactants play a crucial role in lowering surface tension.
Fatty alcohol ethoxylates, a non-ionic surfactant primarily used in household and commercial laundry detergents, contributes significantly to the sector's revenue.
Moreover, detergents, stabilizers, and wetting agents also experience substantial growth, especially in the oil and gas sector, where alkoxylate derivatives serve as stabilizers.
Personal Care Industry's Unprecedented Appetite for Alkoxylates
The personal care industry emerges as the leading revenue generator in 2022. Alkoxylates play a pivotal role in enhancing potential sales in the personal care and beauty care sector, contributing to the formulation of skincare products, cosmetics, lotions, and creams.
Recognised for their preservative and biocidal properties, alkoxylates are extensively utilised in the industry. Anticipated growth in agrochemicals, paints and coatings, and other end-user segments during the projection period is also expected, driven by the utilisation of alkoxylates in crop protection products.
Key Report Highlights
- While challenges loom large in front of the alkoxylates industry, strategic innovations and a focus on sustainability will be pivotal for industry players.
- The alkoxylates market thrives as fatty acid ethoxylates lead revenue surge and surfactants take the centre stage.
Insights into Regional Analysis
Asia Pacific and North America Take the Front Seat
The Asia Pacific region is forecast to achieve the greatest CAGR during the forecast period, attributing its growth to increased demand for consumer goods, particularly in the oil and gas industry for corrosion protection applications.
Alkoxylate sales in industrial sectors are predicted to rise as a result. Notably, substantial expansion in the agrochemical industry in India contributes to the region's dominance, with the agrochemicals industry expected to grow at an 8% CAGR.
North America Emerges the Most Profitable
North America is anticipated to continue its dominance throughout the predicted period. The region's expansion is propelled by increasing population, the growth of the chemical manufacturing industry, and government initiatives and investments in the pharmaceutical sector. Countries like the US, and Canada showcase significant revenue expansion in the alkoxylates market.
Browse Global Alkoxylates Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030 - (By Product Type Coverage, By Application Coverage, By End-use Industry Coverage, By Geographic Coverage and By Company): https://www.fairfieldmarketresearch.com/report/alkoxylates-market
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