According to Custom Market Insights (CMI), The Global Alkoxylates Market Size was valued at USD 7.83 billion in 2021 and is estimated to reach USD 12.32 billion by the end of 2030 at a CAGR of approximately 5.5% during the forecast period 2022-2030.
Alkoxylates are chemical compounds obtained by the addition of ethylene oxide, propylene oxide, and butylene oxide to fatty hydrocarbon through the alkoxylation process. It acts as a wetting agent, cleaning agent, surfactant, stabilizing agent, and others which are used in various end-use industries including cosmetics & personal care, consumer products, paints & coatings, pharmaceuticals, and among others. Furthermore, there are various types of alkoxylates such as fatty acid ethoxylates, alkyl phenol alkoxylates, sorbitan ester alkoxylates, and among others. These types have various applications in personal care, oil & gas, and consumer products sectors.
Browse the full “Alkoxylates Market Size, Trends and Insights By Grade (Natural ethoxylates, Synthetic ethoxylates), By Type (Fatty Acid Ethoxylates, Alkyl Phenol Ethoxylates, Glycerin Alkoxylates, Sorbitan Ester Alkoxylates, Others), By Application (Wetting Agent, Cleaning Agent, Detergents, Stabilizer, Surfactants, Others), By End User (Agrochemicals, Paints & Coatings, Personal Care, Pharmaceutical, Oil & Gas, Others), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032” report at https://www.custommarketinsights.com/report/alkoxylates-market/
Diversified application in various end-use industry
The demand for alkoxylates has witnessed significant growth during the forecast period owing to its diversified range of applications in various end-use industries 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 industries has potentially driven the market in upcoming years.
However, the rising environmental concern regarding the maximum toxicity of some of the fatty alcohol-based ethoxylates has made manufacturer increase their production capacities of biodegradable alkoxylates. For instance, Nonylphenol based ethoxylates are toxic in nature it has been banned in many developed countries.
Rising preference for sustainable products
On the contrary, increasing awareness for eco-friendly products has surged the popularity of biodegradable and natural ethoxylates products owing to their minimal or no volatile organic compounds (VOCs) levels. In addition, manufacturers have put more emphasis on increasing the production capacities of natural and environmentally friendly products owing to the rise in consumers’ purchasing power towards expensive alkoxylate products. These factors are responsible for increasing the sales of alkoxylates in several end-use sectors; thus creating lucrative opportunities for the market.
Over the forecast period, stringent government norms and regulations on using alkoxylates have disturbed the overall growth of the alkoxylates market. These factors will act as a challenging factor for the growth of the alkoxylates market.
Depending upon the grade, the alkoxylates market is segmented into natural ethoxylates and synthetic ethoxylates.
The natural ethoxylates grade segment dominated the market in 2021 and is expected to grow with a total market share of 52% over the forecast period.
Natural ethoxylates find application in personal care and cosmetics due to the high demand for natural, non-toxic, and low organic content products. It is mainly used in the formulation of shampoos, lotions, conditioners, face creams, and among others. Natural ethoxylates have captured the overall market share and escalated the demand for alkoxylates during the forecast period.
The global alkoxylates market is studied across fatty acid ethoxylates, alkyl phenol ethoxylates, glycerin alkoxylates, sorbitan ester alkoxylates, and others. It is expected that the global fatty acid ethoxylates type segment to hold a dominant position during 2022 -2031 with a market share of 45%.
Fatty acid ethoxylates possess various properties such as dispersants, solubilizers, emulsifiers, antistatic additives fabric softeners, lubricants, and viscosity regulators which it is predominately used in the textile industry for the fabrication process. In addition, growing consumer demand, changes in lifestyles, an increase in the disposable income among people, and rising demand for natural and environmentally friendly products have spurred the alkoxylates-based fatty acid ethoxylates market due to its low toxicity and sustainable nature it is mainly used in the cosmetics and pharmaceutical formulations of various skin care products and formulation of drugs in the pharmaceutical sector. These factors are escalating the alkoxylates market.
On the basis of an application, the global alkoxylates market is segmented into wetting agents, cleaning agents, detergents, stabilizers, surfactants, and, others. It is expected that the global surfactant application segment to hold a dominant position during 2022 -2031 with a market share of 28.23%
Various alkoxylate-based surfactants find application in industrial sectors. In addition factors such as growing industrial sectors in both developed and developing economies such as the U.S., China, India, and others, which in turn, lead to the growth of fatty alcohol ethoxylates where it is extensively used in the ethoxylation process of industrial surfactant. These factors are expected to drive the overall market growth.
Depending upon the end user, the alkoxylates market is segmented into agrochemicals, paints & coatings, personal care, pharmaceutical, oil & gas, and others. It is expected that the global personal care ends user segment to hold a dominant position during 2022 -2031 with a market share of 24.56%.
The factors such as the rise in the population, urbanization, improvement in the standard of living, changing lifestyles, and increased focus in the personal care & beauty care industry have surged the demand for natural and synthetic ethoxylates where synthetic fatty alcohol ethoxylates are used as moderate foaming agents in personal care products for the formulation of various skin care products such as body soaps, lotions, face creams, perfumes, and many others. This is augmented to increase the demand for alkoxylate in the cosmetics industry.
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Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific is the dominant region in the alkoxylates market with a total share of 38% during the forecast period.
The utilization of alkoxylates has increased in the sectors such as personal care, pharmaceutical, oil and gas sector, and others. The exponential increase in the world’s population that leads to a rise in the proliferating demand for food and increasing its contribution to the world food trade has led to the growth of the overall agriculture sector. For instance, according to a report published by India-China Trade Brief in the year 2018-19, India’s total export of agricultural and allied commodities to China was of the order of $1999 million, approximately 117% higher than the previous year.
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