The alkoxylates market is enhanced by the increasing demand for these coils in various industries like the chemical industry, personal care industry etc
Covid-19 Impact & Market Status
Due to travel prohibitions and business closures, the COVID-19 has had a negative impact on economies and businesses in a number of countries. The closure of various plants and factories has had a severe influence on global supply chains, negatively affecting manufacturing, delivery schedules, and product sales in the worldwide market. Most sectors, with the exception of medical supplies and life support items, had been severely hit, and alkoxylates market had also been severely impacted and the growth of the market was hampered due to the reduced demand for alkoxylates during this period as everything came to a standstill.
Alcohol segment in High Demand
Fatty Acid, Alcohol, Fatty Amine, Glyceride-Based, Methyl Ether are the different types of alkoxylates available in the market. The alcohol segment has currently earned the highest revenue share in the market and is predicted to continue during the analysis period due to its features that make it ideal for use in laundry detergent formulations, including as quick biodegradation, excellent cleaning of man-made fabrics, and water hardness tolerance. The substance is made commercially from both synthetic and natural sources.
Detergents segment to earn Highest Revenue
The detergent segment currently earns the highest revenue share in the market, and it is predicted to continue to rise during the analysis period due to the increased demand for these. When utilised, products infused with naturally derived ethoxylates are gentle and have no impact on human skin. As a result, a growing number of detergent makers are incorporating naturally derived ethoxylates into their formulations. Furthermore, ethoxylates are inert, non-toxic, and non-corrosive, with a high flash point that does not harm marine life, making them environmentally friendly.
Asia-Pacific expected to Dominate
Asia-Pacific currently earns the highest revenue share in the market and is predicted to continue in the same way during the analysis period due to the significant demand for surfactants from various industries and the presence of growing economies. Major prominent players in the alkoxylates market are developing their production facilities in the Asia-Pacific region as part of their strategy development to gain the most market share and gain cost advantages in alkoxylates manufacturing.
North America is the second largest market for alkoxylate consumption after Asia Pacific, and it is predicted to increase during the analysis period due to rising personal care and cleaning product usage. Also, the alkoxylates market will be driven by widespread use of personal care products and high disposal incomes.
Furthermore, the market's expansion is aided by the widespread availability of numerous alkoxylates and their applicability for a variety of applications.
Alkoxylates are substances created through the process of alkoxylation, which involves the reaction of molecules including alcohols, phenols, and amines with alkoxides to produce alkoxylates. Because of its degradability and environmental friendliness, alcohol alkoxylates are most widely employed in end-use industries.
The alkoxylates market is predicted to grow from USD 13.2 million to about USD 19.8 million by 2029 at a Compound Annual Growth Rate (CAGR) of 4 percent during the forecast period 2022-2029.
The market also performs fundamental services such as cleaning, making it indispensable to every enterprise and family. Furthermore, consumer awareness of component formulation and biodegradable options is growing. Alkoxylates manufacturers are also experimenting with novel ways to turn ethylene oxide into new goods. Alkoxylates producers are also boosting product volume to achieve economies of scale.
Furthermore, alkoxylates consumers are willing to pay more for more expensive products in order to create a safer atmosphere. As a result, producers are competing with alternatives to traditional remedies, which may attract new alkoxylates customers. Furthermore, the alkoxylates industry is likely to benefit from rising demand for low foam cleaners and detergents.
During the projected period, the global alkoxylates market will also confront looming hurdles. In many markets, tighter laws have already rendered popular solutions like NPE unviable. In the same way, volatility in crude oil prices is predicted to stymie growth.
The market has intense competition due to the high demand and consists of several big corporations such as KLK OLEO, BASF, AkzoNobel, Kaiser Industries, Stepan Company etc.
Alkoxylates Market Scope
|Revenue forecast in 2028
|USD 19.8 million
|CAGR of 4.0% during 2021-2028
|Type, Application, Regions
|North America, Europe, Asia Pacific, South America, Middle East and South Africa
|Key Players Profiled
|KLK OLEO, BASF, AkzoNobel, Kaiser Industries, Stepan Company & among others.
Latest Innovations in the Alkoxylates Market: A Snapshot
- In March 2021, BASF Care Chemicals North America intended to raise off-list prices for stabiliser and sulphate product lines, polyglycol, fatty Alcohol ethoxylate, block copolymer etc. due to the rising raw materials and transportation costs.
Key Segments of the Alkoxylates Market
Type Overview, 2022-2029 (USD Million)
- Fatty Acid
- Fatty Amine
- Methyl Ether
Application Overview, 2022-2029 (USD Million)
- Cleaning Agents
- Emulsifying Agents
- Dispersing Agents
- Wetting Agents
Regional Overview, 2022-2029 (USD Million)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa