Wilmington, Delaware, United States, May 26, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – The Global Ethoxylate Market is projected to flourish at a CAGR of 6.2% from 2023 to 2031. As per the report published by TMR, the global ethoxylate market is expected to exceed a value of US$ 32.8 billion by 2031. The market was valued at over US$ 19.0 billion in 2022.
The increasing consumption of ethoxylates in various industries such as personal care, pharmaceuticals, agrochemical, textile & chemicals is expected to drive the growth of the ethoxylates market during the forecast period. Ethoxylates are used as foaming and wetting agents in cosmetics & detergents.
Increasing awareness about personal hygiene and increased use of cleaning and sanitizing products boost the sales of the ethoxylates market during the forecast period. Increasing application of ethoxylates in shampoos, and detergents, owing to their foaming properties, propel the market growth. Ethoxylates are used in ointment in pharmaceuticals.
The increasing consumer spending on personal care and cosmetics products, changing lifestyles and increased disposable income has fueled the demand for ethoxylates in the personal care industry. Ethoxylates are also used as surfactants in dying, scouring, and lubrication in the textile industry due to their high solubility and emulsifying character.
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Increasing consumer inclination towards low foam detergents and increasing application of alcohol ethoxylates owing to the increased sentimental concerns and increased use of eco-friendly products are the major factor boosting the ethoxylates market growth.
Increasing environmental concerns have led to the use of eco-friendly alternatives. Bio-based ethoxylates and ethoxylates derived from renewable sources are gaining popularity.
Increasing investment by market players in research & development activities, and increasing application of detergents in the residential & industrial sectors further expands the ethoxylates market during the forecast period
Key Takeaways from the Market Report
- As of 2023, the ethoxylates market is forecast to reach US$ 20.1 billion
- By product, the alcohol ethoxylates segment is expected to account for key market share in 2023
- Detergent segment to remain popular due to the ethoxylates being highly utilized in soaps, and detergents.
- Based on end-use, the household & personal care segment is expected to lead the ethoxylates market
- North America is projected to be the lucrative market for ethoxylates
Ethoxylates Market: Prominent Drivers and Trends
- Increasing demand for cleaning agents and detergents products, owing to the increasing standard of living to drive the market growth during the forecast period
- Increasing the application of ethoxylates in different agrochemicals such as herbicides, and fungicides offers an opportunity for market expansion.
- Technological innovation and an increase in demand for eco-friendly and bio based ethoxylates derived from natural sources accelerate the growth of the market during the forecast period.
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Ethoxylates Market - Regional Analysis
- North America is a significant market for ethoxylates due to their increasing application in various industries as surfactants, emulsifiers, wetting agents, and dispersants. The presence of end-use industries and increasing demand for eco-friendly surfactant fuels the market for ethoxylates.
- Asia Pacific accounts for the highest share of the ethoxylates market in 2023. The growing pharmaceutical and household personal care industries in the region. The presence of manufacturing industries in China and India also generates demand for ethoxylates in the region.
Competitive Landscape
Transparency Market Research has profiled the following players in its global ethoxylate market report:
- Lubrizol Corporation
- BASF SE
- Evonik Industries AG
- Clariant Corporation
- SABIC
- SEPPIC
- The Dow Chemical Company
- Solvay
- Saibaba Surfactants Pvt Ltd
- Tristar Intermediates
- Ethox Chemicals, LLC
- Rimpro India
- Others
The key ethoxylates market players are engaged in regulatory approvals, the launch of new products, and new and strategic collaborations. Some specific developments are as follows:
- On December 15, 2022 - Clariant is set to expand its Care Chemicals facility in Daya Bay, Huizhou, China, to boost its support for pharmaceutical, personal care, home care, and industrial application customers.
- In October 2022 - BASF and Hannong Chemicals announced to establish a production joint venture for the commercial production of non-ionic surfactants in Asia Pacific
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Ethoxylates Market: Key Segments
Product
- Alcohol Ethoxylates
- Fatty Amine Ethoxylates
- Fatty Alcohol Ethoxylates
- Ethyl Easter Ethoxylates
- Glyceride Ethoxylates
- Others
Function
- Cleaning Agent
- Emulsifying Agent
- Wetting Agents
- Others
Application
- Face Cream
- Lotion
- Detergent
- Shampoo
- Sunscreen
- Pharmaceutical Ointment
- Cleaning Solution
- Herbicides
- Insecticides
- Others
End Use
- Household & Personal Care
- Institutional & Industrial Cleaning
- Pharmaceutical
- Agrochemicals
- Textile
- Chemicals
- Others
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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