PUBLISHER: Allied Market Research | PRODUCT CODE: 1179512
PUBLISHER: Allied Market Research | PRODUCT CODE: 1179512
The global alkoxylates market forecast was valued at $6.9 billion in 2021, and is projected to reach $11.0 billion by 2031, growing at a CAGR of 4.9% from 2022 to 2031.
Alkoxylates are chemical compounds produced by addition of ethylene oxide, propylene oxide, and butylene oxide to fatty hydrocarbon through alkoxylation process. It acts as wetting agent, cleaning agent, surfactants, and stabilizing agents, owing to which it finds applications in various end use industries including cosmetics & personal care, consumer products, paints & coatings, and pharmaceuticals. Furthermore, there are various types of alkoxylates such as fatty acid ethoxylates, alkyl phenol alkoxylates, and sorbitan ester alkoxylates. These types have various application in personal care, oil & gas, and consumer products sector.
Increase in global energy demand has led to rise in crude oil exploration and drilling activities in oil-rich countries where ethoxylate and alkoxylate are widely used as corrosion and scale inhibitors to avoid scale formation in pipelines and other drilling equipment. This acts as one of the key drivers responsible for growth of the alkoxylates market in the growing oil & gas sector. Demand for alkoxylates has witnessed the significant growth owing to its diversified range of applications in various end use industry such as oil & gas, personal care, consumer sector, agrochemicals, and among others. Furthermore, ease of availability of raw material and suitability of alkoxylates in various end use industry has potential drive the market during the forecast period. However, stringent government policies regarding use of nonylphenol may hamper the growth of market.
In addition, some of alkoxylate are hazardous in nature thus, proper care is to be needed during the manufacturing process. Hence, rise in prices of crude oil has resulted in increase in costs of ethoxylation, thereby leading to excessive pressure on product price margins. These factors propel growth of alkoxylates.
However, risk associated with use of alkoxylates products in interior insulation systems is expected to hamper the market growth. For instance, capillary alkoxylates system (type of alkoxylates) is widely preferred for thermal insulation in cleaning agents industry. This alkoxylates system is used mostly for thermal insulation of cultural heritage buildings. However, interstitial condensation risk associated with alkoxylates systems is anticipated to hamper the market growth. Increase in raw material prices and energy costs, rise in competition, and enforcement of regulations on alkoxylates are key factors affecting business sustainability of alkoxylate manufacturers. These factors hamper growth of the alkoxylates market during the forecast period.
Furthermore, rise in awareness regarding eco-friendly products has led to rise in popularity of high sold biodegradable and natural ethoxylates products, owing to its minimal or non-volatile organic compounds (VOCs). In addition, manufacture have put more emphasis on increasing in the production capacities of natural and environment friendly products owing to rise in consumers purchasing power towards expensive alkoxylates products. These factors are responsible for increasing sales of alkoxylates in several end-use sectors; thus creating lucrative opportunities for the market.
The alkoxylates market is segmented on the basis of grade, type, application, end-user industry, and region. On the basis of grade, it is segmented into natural ethoxylates and synthetic ethoxylates. On the basis of type, it is categorized into fatty acid ethoxylates, alkyl phenol ethoxylates, glycerin alkoxylates, sorbitan ester alkoxylates, and others.
On the basis of application, it is divided into wetting agent, cleaning gent, detergent, stabilizer, surfactants, and others. On the basis of end-user industry, it market is bifurcated into agrochemicals, paints& coatings, personal care, pharmaceutical, oil & gas, others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The major companies profiled in this report include Clariant AG, Croda International Plc, DOW, IMCD Group, Indorama Ventures Public Company Limited, Lamberti S.p.A., PCC Group, Scharer & Schlapfer AG, Solvay, and Stepan Company. The global alkoxylates market report provides in-depth competitive analysis as well as profiles of these major players
Key Benefits For Stakeholders
By Grade
By Type
By Application
By End-Use Industry
By Region