The Ethoxylates Market projected to surpass $15 billion by 2027, Says Global Market Insights Inc.
Rising demand for non-ionic surfactants in numerous industries including household & personal care, paints, textiles, leather, agrochemicals, oil & gas, pharmaceuticals, etc. will foster overall ethoxylates market growth, says this report.
SELBYVILLE, Del., May 25, 2021 /PRNewswire/ -- Based on thr Global Market Insights Inc. report, the global Ethoxylates Market was estimated at $12 billion in 2020 and is slated to exceed $15 billion by 2027, registering a CAGR of 4% from 2021 to 2027. The report provides a thorough analysis of the main investment avenues, major winning strategies, drivers and opportunities, wavering industry trends, market estimations as well as size, competitive scenarios.
The rise in consumer spending on personal care products supported by increasing income level and growing demand for industrial & institutional cleaning products and a surge in demand for non-ionic surfactants will provide numerous opportunities for the key industry participants. Product availability in diverse functional profiles such as emulsifier, surfactant, dispersant, wetting agent, emollient, stabilizer, viscosity control agent, and degreasing agent is propelling the overall ethoxylates market share.
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COVID-19 outbreak is anticipated to have an impact on the ethoxylates market. Crude oil demand has significantly lowered and consumer spending on personal care products is expected to reduce. Changing consumer lifestyles in emerging economies coupled with rising demand for low-rinse detergents will fuel the product adoption rate.
According to market analysis, increasing demand for global oilfield services owing to the rising oil & gas exploration activities globally will drive ethoxylates market growth. A positive outlook for the agrochemicals industry accompanied by increasing product usage as emulsifiers and wetting agents will promulgate overall industry size. Also, the increasing popularity of natural ingredients in the pharmaceutical and cosmetics sector for the preparation of novel and environment-friendly products will generate new growth opportunities for the ethoxylate market manufacturers.
The fatty acid ethoxylate segment will emerge as a prominent product in the global ethoxylate market counting for more than USD 1 billion in 2020. Fatty acids ethoxylates are non-ionic surfactants produced by the ethoxylation of fatty acids derived from unsaturated and saturated vegetable & animal fats. These products are used as solubilizers, viscosity regulators, emulsifiers, fabric softeners, dispersing agents, antistatic additives, and plasticizing agents in coating & plastics. Besides, due to their low toxicity and natural base, they find use in textile auxiliaries, pharmaceuticals, cosmetic and crop protection formulations.
Household & personal care application is anticipated to witness gains of over 4.5% by 2027. Factors such as excellent water solubility and emulsification characteristics have enhanced their utilization in personal care products such as cosmetics, shampoos, shower gel, hair conditioners, and toothpaste. Moreover, favorable properties such as emulsifying, degreasing, foaming, anti-foaming, cleaning, wetting, and dispersing are likely to boost its usage in laundry detergents, household cleaners, and institutional & industrial cleaning applications. Also, increasing demand for low foam or low rinse detergents will support the ethoxylates market adoption rate.
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Europe is anticipated to hold a substantial share of over 25% in 2020 owing to the presence of large personal care and cosmetics sector along with high adoption levels in pharmaceuticals and oil & gas applications. Moreover, factors such as increasing surfactant consumption, large ethylene oxide production capacity along the presence of multinational manufacturers and integrated companies will support the ethoxylates market share in the European region.
Increasing inclination towards renewable bio-based surfactants has boosted the product adoption rate in European countries. Besides, strong investments towards product development accompanied by favorable regulatory scenarios will create notable gains.
The ethoxylates market share is competitive with the presence of multinational corporations and growing regional manufacturers such as Oxiteno, Sasol Olefins & Surfactants, BASF SE, Ineos Group, Shell Chemicals, Clariant, India Glycols, and Dow Chemical Company. Key strategies include mergers & acquisitions, capacity expansions, technical collaborations, and new product development for specific applications. For instance, in April 2019, Dow Chemicals announced to expand its ethoxylates production capacity in Spain to cater to diverse industrial segments.
Some of the key market players manufacturing ethoxylates are Oxiteno, The Dow Chemical Company, Sasol Olefins & Surfactants, BASF SE, Ineos Group, Shell Chemicals, Clariant, India Glycols, and Huntsman International.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting, and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
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Ethoxylates Market Outlook - 2027
SOURCE Global Market Insights Inc.
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