Newark, NJ, Nov. 17, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global alcohol ethoxylates market is expected to grow from USD 6.23 billion in 2020 and reach USD 8.9 billion by 2028, growing at a CAGR of 4.5% during the forecast period 2021-2028.
Rising levels of investment by market players in research and development activities, rising detergent consumption in the industrial and residential sectors, and demand for biodegradable detergents will all contribute to the growth of the alcohol ethoxylates market in the above-mentioned projected timeframe. Increased demand for alcohol ethoxylates from the paint and coatings and oil and gas industries, increased adoption of alcohol ethoxylates by the pharmaceutical industry in the preparation of novel products, rising usages of the product due to its high stabilizing characteristics of oil-water emulsions, increased shelf life of personal care products, and low foaming property are some of the major factors which will likely to accelerate the growth of the alcohol ethoxylates market in the projected timeframe of 2021-2028.
Ethoxylation is a chemical reaction that occurs when ethylene oxide is introduced to a substrate, resulting in the creation of alcohol ethoxylate. Alcohol ethoxylate is widely used as a surfactant in a range of applications. Alcohol ethoxylates are a kind of substance that is used in a wide range of industries. These compounds are made using a fatty alcohol and ethylene oxide method, resulting in a molecule with two large oleophilic, carbon-rich fatty alcohol and hydrophilic polyoxyethylene chain components. Alcohol ethoxylate-based surfactants are non-ionic and need longer ethoxylate chains to be water-soluble than their sulfonated counterparts.
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Over the projected period, the market is likely to rise due to rising demand for high-grade industrial, institutional, and domestic cleaners. In addition, the application industries' increasing need for biodegradable surfactants is likely to propel market expansion. The market is predicted to develop due to the need for lauryl alcohol ethoxylates for cleaning applications in industrial, institutional, and domestic detergents. Over the projected period, there is likely to be a rise in demand for low foam and low rinse products due to rising demand. Furthermore, the product’s beneficial biodegradable nature is projected to lead to rising demand for the product over the forecast years. Because of increased ethylene oxide and fatty alcohol prices, the product's price is likely to rise. The market's growth is projected to be limited by the demand for ethylene oxide in alternative industries. The product price increased due to rising crude palm oil and palm kernel oil prices, as well as upstream instability in the fatty alcohol market. The price of ethylene oxide was steadily rising, with the cumulative impact leading to an increase in production.
Key players operating in global alcohol ethoxylates market include Royal Dutch Shell plc, AkzoNobel N.V., BASF SE, Clariant AG, Dow Chemical Company, SABIC, Evonik Industries AG, Huntsman International LLC, India Glycols Limited, Mitsui Chemicals, Inc., E.I. du Pont de Nemours and Company, Sasol Limited, Solvay S.A., and Stepan Company. To gain a significant market share in the global alcohol ethoxylates market, the key players are now focusing on adopting strategies such as joint-venture, mergers & acquisitions, recent developments, collaborations, product innovations, and partnership. Sovay and Royal Dutch Shell PLC are some of the key manufacturers operating in alcohol Ethoxylates market.
- Royal Dutch Shell PLC stated in September 2015 that its Jurong Island location will treble its manufacturing capacity of high-purity ethylene oxide and ethoxylates (Singapore). This factory will be capable of producing 140,000 tonnes of ethoxylates per year.
Fatty alcohol ethoxylates segment dominated the market and held the largest market share of 30.9% in the year 2020
Based on product, the global alcohol ethoxylates market is segmented into fatty alcohol ethoxylates, lauryl alcohol ethoxylates, linear alcohol ethoxylates and others. Fatty alcohol ethoxylates segment dominated the market and held the largest market share of 30.9% in the year 2020. Fatty alcohol ethoxylates are the most extensively utilized compounds due to their exceptional cleaning capabilities in both domestic and industrial settings. Because of their low toxicity, the goods have a wide range of uses in industry. Over the projection period, the usage of the product in cream bases in the personal care industry is likely to drive growth.
Emulsifier’s segment dominated the market and held the largest market share of 21.1% in the year 2020
Based on application, the global alcohol ethoxylates market is segmented into emulsifier, dispersing agent, wetting agent and others. Emulsifier’s segment dominated the market and held the largest market share of 21.1% in the year 2020. The market for the product for emulsifiers is predicted to see an increase, due to high stabilizing capabilities of oil-water emulsions displayed by the product. The HLB value of such products-based oil-water emulsions may be adjusted for any hydrophobic component, and the chemicals have minimal reactivity with contaminants in both the oil and aqueous phases, such as ion, making them an attractive option.
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Metal Working segment dominated the market and held the largest market share of 19.15% in the year 2020
Based on end-user, the global alcohol ethoxylates market is segmented into cleaning, metal working, textile processing, paper processing, agrochemicals, pharmaceuticals and others. Metal Working segment dominated the market and held the largest market share of 19.15% in the year 2020. Due to its outstanding performance in oil-based emulsions utilized in such formulations, the product is widely employed in metal working fluids. Cutting, drawing, forging, drilling, rolling, and other processes in the metalworking sector need a large amount of fluids. The use of fluids in such operations reduces the amount of damage produced by friction.
Regional Segment of Alcohol Ethoxylates Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
Based on geography, the global alcohol ethoxylates market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Asia Pacific region held the largest market share of 29.87% in the year 2020. Due to the area's rising home and personal care, as well as pharmaceutical sectors, the Asia-Pacific region is expected to be the fastest-growing ethoxylates market. Due to rising demand for ethoxylates in the oilfield industry, the Middle East and African ethoxylates market is also predicted to rise rapidly. Although North America is a big market for ethoxylates, it is growing slowly. In terms of value, the Asia Pacific ethoxylates market is expected to develop at the fastest CAGR between 2021 and 2028.
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About the report:
The global alcohol ethoxylates market is analysed based on value (USD billion). 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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