Selbyville, Delaware, Sept. 10, 2024 (GLOBE NEWSWIRE) -- Alcohol Ethoxylates Market is estimated to surpass USD 9.7 billion by the end of 2032, as per a recent study by Global Market Insights Inc.
The increasing rate of utilization in the agricultural sector will drive the industry growth. Alcohol ethoxylates compounds are largely utilized in a variety of applications including, surfactants in herbicides, pesticides, and fungicides due to their ability to enhance the effectiveness of chemicals by improving spread and penetration. Of late, companies are developing more advanced formulations of alcohol ethoxylates to meet the specific needs of modern agricultural practices. Ongoing innovations are also supporting the evolution of the agricultural sector for providing more efficient and sustainable solutions for crop protection and management. According to the U.S. Department of Agriculture, the agriculture, food, and related industries contributed to about $1.530 trillion to the U.S. GDP in 2023. Rising usage to enhance the effectiveness of agricultural chemicals and improve efficiency will also favor the product demand.
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Linear ethoxylates to gain traction
Alcohol ethoxylates market size from the linear ethoxylates product type segment is expected to expand up to 2032, due to their superior performance in various applications. Linear ethoxylates compounds are integrated into cleaning agents, surfactants, and industrial processes given their effective wetting, emulsifying, and foaming properties. Companies are also developing linear ethoxylates to enhance their functionality and efficiency in specific uses, such as agriculture and manufacturing. Simultaneously, advancements are refining these ethoxylates to improve their environmental compatibility and performance characteristics.
Rising usage in wetting agent applications
The wetting agent application segment is likely to record lucrative expansion in the alcohol ethoxylates market from 2024 to 2032, driven by increasing adoption for optimizing their performance and environmental impacts. Wetting agent compounds are formed by the reaction of alcohols with ethylene oxide for enhancing the spreading and penetration of liquids on surfaces. By reducing surface tension, alcohol ethoxylates improve the effectiveness of cleaning products, agricultural sprays, and paint formulations. This involves developing formulations that are both more effective and sustainable for meeting the evolving needs of various sectors.
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Europe to emerge as a lucrative market
Europe alcohol ethoxylates market is estimated to accrue substantial valuation by 2032 due to the expansion of the personal care and cosmetics sectors. Alcohol ethoxylates compounds are largely integrated into formulations in the region for their excellent surfactant properties for enhancing the effectiveness of products, such as shampoos, lotions, and cleansers. Companies are also developing new and improved alcohol ethoxylates to cater to the evolving preferences for more effective and eco-friendly personal care solutions. According to Cosmetics Europe-The Personal Care Association, the retail sales price of Europe was valued at €96 billion in 2023. This growth is increasing the regional demand for alcohol ethoxylates to improve product performance and sustainability.
Alcohol Ethoxylates Market Participants
Some of the prominent alcohol ethoxylates industry players include BASF SE, Clariant AG, Croda International PLC, Dow Chemical Company, Evonik Industries AG, Huntsman Corporation, India Glycols Limited, Kao Corporation, SABIC, Sasol Limited, Shell Chemicals, Solvay S.A., and Stepan Company. These firms are forming partnerships to boost innovation and meet growing demand. For instance, in September 2023, LanzaTech announced a collaboration with Dow to introduce a biodegradable cleaning solution. This innovation incorporates alcohol ethoxylates for enhancing the product's effectiveness while promoting environmental sustainability in the cleaning sector.
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
