NEWARK, Del, Dec. 12, 2022 (GLOBE NEWSWIRE) -- The global Ethoxylates market size is valued at USD 12.1 billion in 2022 and it is anticipated to achieve a market valuation of USD 12.7 billion in 2023. It is expected to reach a market valuation of USD 17.4 billion by the end of the forecast period while exhibiting a CAGR of 3.2%.
Ethoxylates are utilized across a broad range of applications such as lubricants, cosmetics, soaps & detergents, cleaning chemicals, and solvents. Product consumption in the home & personal care sector is increasing constantly owing to attributes such as rapid surface-wetting, excellent detergency, and low-foaming properties.
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The financial stability of the middle class has also increased spending ability for high-quality personal care products. Growing consumer demand for cosmetics, in addition to rising disposable income, will increase the adoption of ethoxylates in the coming years.
The market is expected to be driven by the consumption of ethoxylates across various industries, including personal care, pharmaceutical, industrial, and household cleaning. The product is extensively used as a foaming and wetting agent in detergent and cosmetic product formulations.
Key Takeaways from the Market Study
- Europe will account for the highest revenue generator in the Ethoxylates market during the forecast period.
- Asia Pacific is anticipated to be the fastest-growing region while exhibiting a CAGR of 4.5% by 2033.
- By product type, Alcohol ethoxylates will dominate the segment while registering the highest CAGR.
- The Alcohol ethoxylates segment is anticipated to be worth USD 13.1 billion by the end of 2033.
- By Application type, household, and personal care is expected to dominate the segment during the forecast period.
- The demand and consumption of ethoxylates across various industries, including personal care, pharmaceutical, industrial, and household cleaning will drive the ethoxylates market.
“The market's expansion may be linked to a paradigm shift toward workflows and process automation across a wide range of businesses and industrial verticals. Enterprises all over the world are eager to embrace effective and smooth business processes that can be executed regardless of location, which is propelling this industry ahead.” comments a Future Market Insights analyst.
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Competitive Landscape
The global ethoxylates market is consolidated with few large and medium-sized players accounting for most of the market revenue. Major players are deploying various strategies, entering into mergers and acquisitions, strategic agreements, and contracts, developing testing, and introducing more effective ethoxylates solutions.
Some of the major companies included in the global ethoxylates market report are-
Dow chemical company, BASF, Royal Dutch Shell PLC, Petroliam Nasional Berhad, Ecogreen Oleochemicals, PT Polychem Indonesia Tbk, Stepan Company, Clariant, Sasol Limited, India Glycols Ltd, Ineos Group Ltd., Solvay, Oxiteno, Galaxy Surfactants, Nouryon, SABIC, Evonik, Mitsui Chemicals Inc., PCC Exol, Arkema Group.
- On 26 May 2022, BASF, which is a Germany-based chemical company announced the BASF hub program in collaboration with AHK Romania. The hub will bring together start-ups and innovators from 11 central and southeast European nations, including Romania. The project’s objective is to serve as a launching pad for new businesses, promoting the best ideas and providing financial assistance.
- On 12 May 2022, Royal dutch shell, a UK-based oil, and gas chemical signed an agreement with Lukoil to sell lubricants and retail business in Russia. The deal includes 411 retail stations mostly in Russia’s northwestern and central regions as well as the lubricants lending factory in Torzhok, located around 200 kilometers north of Moscow. The purchase of the shell’s high-quality business in Russia is in line with LUKOIL’s goal to expand its key sales channels, including retail and the lubricant business.
More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global ethoxylates market, presenting a historical analysis from 2018 to 2022 and forecast statistics for the period of 2023-2033.
Key Segments Profiled in the Ethoxylates market Survey
Ethoxylates Market by Application:
- Household and Personal Care
- Laundry & Dishwashing Detergent
- Industrial & Institutional Cleaning
- Personal Care
- Agrochemicals
- Herbicides
- Fungicides
- Insecticides
- Oil and Gas
- Foam Control & Wetting Agents
- Lubricants & Emulsifiers
- Pharmaceuticals
- Other Applications
Ethoxylates Market by Product:
- Alcohol
- Natural Alcohol Ethoxylates
- Synthetic Alcohol Ethoxylates
- Fatty Amine
- Fatty Acid
- Methyl Ester
- Glyceride
Ethoxylates Market by Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa (MEA)
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About the Chemicals & Materials Division at Future Market Insights
The chemicals and materials team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
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