Global Alkoxylates Market Size to Reach USD 12.34 Billion in 2032 | Emergen Research
Increase in Research & Development (R&D) activities is a major factor driving market revenue growth
Vancouver, Sept. 04, 2023 (GLOBE NEWSWIRE) — The 2022 valuation of the worldwide alkoxylates market stood at USD 7.60 Billion. Based on the most recent analysis conducted by Emergen Research, it is projected that the market will maintain a consistent Compound Annual Growth Rate (CAGR) of 4.9% throughout the forecast period. The upswing in Research & Development (R&D) endeavors, coupled with the demand upsurge from the detergent sector, alongside the expanding utility of alkoxylates within the realms of industrial and institutional cleaning, collectively underpin the surge in market revenue.
Alkoxylates are progressively finding their way into diverse sectors, including industrial, personal care, and the Oil & Gas (O&G) industry. These compounds are created through alkoxylation, a process involving the addition of ethylene oxide, propylene oxide, and butylene oxide to fatty hydrophobic substances. The market is now witnessing the production of various types of alkoxylates, such as fatty alcohol alkoxylates, fatty acid alkoxylates, and fatty amine alkoxylates. These versatile compounds are employed as wetting agents, emulsifying agents, cleaning agents, stabilizers, and detergents, showcasing their multifaceted utility.
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Notably, these alkoxylates stand out for their eco-friendly nature, attributed to their biodegradability. The application scope expands further with their increased use in oilfield operations, accompanied by advancements in alkoxylate production techniques. Companies tailor alkoxylate products according to specific customer requirements, considering factors like cloud point, hydroxyl value, pH, and Hydrophilic-Lipophilic Balance (HLB).
Collaborative efforts between prominent enterprises and organizations to drive research and development initiatives also contribute to the market’s growth trajectory. This is reinforced by the significance of alkoxylates in essential applications, such as serving as rheology modifiers for vinyl chloride emulsion polymerization and as solubilizers in the personal care industry. The significance of alkoxylation can’t be understated, as it plays a pivotal role in manufacturing surfactants on an industrial scale. For instance, Scientific Designs’ alkoxylation process offers a notably efficient method for producing surfactants, polyglycols, and polyether polyols.
Nevertheless, market growth does face certain headwinds. Factors like volatile raw material costs and geopolitical issues, including trade barriers, could impede revenue expansion. Escalating costs of raw materials are particularly affecting sectors like personal care and home goods, resulting in inflation. These challenges reverberate across the supply chain, impacting domestic businesses and key suppliers to the personal care and home goods sectors, such as surfactant manufacturers.
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Scope of Research
|Market Size in 2022||USD 7.60 Billion|
|Revenue Forecast To 2032||USD 12.34 Billion|
|Base Year For Estimation||2022|
|Quantitative Units||Revenue in USD Million and CAGR in % from 2023 to 2032|
|Report Coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments Covered||Grade, product type, application, end-use, and region|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Country Scope||U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa|
|Key Companies Profiled||BASF SE, The Dow Chemical Company, Stepan Company.., CLARIANT., OXITENO, Nouryon, ROBOKITS INDIA, Sasol Limited., S&P Global, Inc., and NIPPON SHOKUBAI CO., LTD.|
|Customization Scope||10 hours of free customization and expert consultation|
Major Companies and Competitive Landscape
The global alkoxylates market is fairly fragmented, with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective alkoxylates solutions. Some major players included in the global alkoxylates market report are:
- BASF SE
- The Dow Chemical Company
- Stepan Company.
- Sasol Limited.
- S&P Global, Inc.
- NIPPON SHOKUBAI CO., LTD.
- On 7 December 2022, Nouryon, a Dutch chemical business, announced the acquisition of a specialty surfactant alkoxylation unit on Singapore’s Jurong Island petrochemicals cluster. The new facility will improve Nouryon’s capacity to meet rising regional customer demand in end sectors such as home and personal care, natural resources, paints and coatings, agriculture and food, and paints and coatings.
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Some Key Highlights From the Report
- The natural segment accounted for largest revenue share in the global alkoxylates market in 2022. This is due to increasing number of consumers are becoming more aware about the need to choose products carefully, leaning toward natural ingredients, preferably those derived from vegetables. Various ethoxylated alcohol structures and characteristics are possible due to differences in the distribution of carbon chains in natural fatty alcohols, depending on the plant from which they were extracted. Narrow range ethoxylates are a type of specialized surfactants that are commercially available natural sources of bio-based substance. Narrow range ethoxylates have low toxicity and are easily biodegradable. Companies, such as Nouryon, have invested heavily in research to create natural ethoxylates based on naturally occurring hydrophobes that perform and operate similarly to their petroleum-derived counterparts.
- The Alkyl Phenol Ethoxylates (APE) segment is expected to register steadily fast revenue growth rate in the global alkoxylates market during the forecast period. This is because APEs are frequently used as surfactants in cleaning solutions for commercial and institutional settings. APEs have been used as inert components in pesticide formulations to improve effectiveness. In addition, these are employed in the manufacture of paper, processing of leather and textiles, metalworking, as oilfield chemicals and for cleanup of oil spills, as well as in the manufacture of paints, adhesives, personal care items, and spermicidal lubricants. These are primarily utilized in the processing of textiles and leather as washing and cleaning agents (i.e. surfactants).
- The North America market accounted for largest revenue share in the global alkoxylates market in 2022. This is attributed to rising number of key strategic initiatives and funding in the field of alkoxylates, as well as increasing consumer interest and rapid adoption of alkoxylates applications such especially in the U.S.. For instance, on 22 April 2022, Dow announced that it would enhance its global alkoxylation capacity in the U.S. to meet rising demand across a wide range of fast-growing end-markets, from home and personal care to industrial and institutional cleaning solutions and pharmaceuticals. These investments are anticipated to go live in 2024 and are being made in the U.S. with the support of distribution agreements with clients, including top consumer brands.
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Emergen Research has segmented the global alkoxylates market on the basis of grade, product type, application, end-use, and region:
- Grade Outlook (Revenue, USD Billion; 2019-2032)
- Product Type Outlook (Revenue, USD Billion; 2019-2032)
- Fatty Acid Ethoxylates
- Alkyl Phenol Ethoxylates
- Sorbitan Ester Alkoxylates
- Alcohol Alkoxylates
- Glycerin-based alkoxylates
- Application Outlook (Revenue, USD Billion; 2019-2032)
- Cleaning Agents
- Emulsifying Agents
- End-use Outlook (Revenue, USD Billion; 2019-2032)
- Personal Care
- Paints and Coatings
- Oil & Gas (O&G)
- Regional Outlook (Revenue, USD Billion; 2019-2032)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- North America
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