Global Alkoxylates market size 2024, Forecast To 2033
28 Feb, 2024
The alkoxylates market size has experienced significant growth in recent years, increasing from $7.25 billion in 2023 to$7.68 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period is attributed to rising demand from various industries, environmental regulations, population growth, urbanization, the shift towards green chemistry, and changing consumer preferences. The market expects strong growth, projecting an increase to $9.71 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The anticipated growth is fueled by customized formulations, innovations in packaging materials, alignment with sustainable development goals (SDGs), growing demand in the healthcare sector, and increased use of alkoxylates in agrochemicals. Major trends anticipated in the forecast period include the influence of e-commerce, adoption of renewable resources, consumer shift towards eco-friendly products, the impact of stricter environmental standards, and growth in water treatment applications.
Global Alkoxylates Market Key Driver
The increasing demand for oil and gas is anticipated to propel the alkoxylates market growth. The oil and gas industry encompasses activities from resource discovery to refining and product processing. Alkoxylates play crucial roles as corrosion inhibitors and co-emulsifiers in this sector. For example, in August 2021, the International Energy Agency reported a global oil demand increase averaging 5.3 million barrels per day, reaching 96.2 million barrels per day in 2021. Furthermore, global gas demand saw a 3.6% rise in 2021, projected to grow by 7% by 2024. Thus, the escalating demand for oil and gas is a key driver behind the alkoxylates market growth.
Get A Free Sample Of The Global Alkoxylates Market ReportGlobal Alkoxylates Market Segments
The global alkoxylates market covered in this report is segmented –
1) By Type: Fatty Acid, Alcohol, Fatty Amine, Glyceride-Based, Methyl Ether
2) By Grade: Natural Ethoxylates, Synthetic Ethoxylates
3) By Application: Cleaning Agents, Emulsifying Agents, Detergents, Dispersing Agents, Wetting Agents
By Geography: The regions covered in the alkoxylates market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
Asia-Pacific was the largest region in the alkoxylates market in 2023. The regions covered in the alkoxylates market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Alkoxylates Industry Players
The Dow Chemical Company, BASF SE, Clariant AG, Croda International Plc., Huntsman International LLC, Solvay S.A., Akzo Nobel N.V., Evonik Industries AG, Kuala Lumpur Kepong Berhad OLEO, Lamberti S.p.A., Stepan Company, Jiahua Chemicals Inc., Royal Dutch Shell PLC, Ineos Group Limited, Ethox Chemicals, Kaiser Industries Ltd., Venus Ethoxyethers Pvt. Ltd., IMCD Group, Indorama Ventures Public Company Limited, Poludniowy Koncern Chemiczny Group, Schärer & Schläpfer AG, Sasol Ltd., Nouryon, Novozymes A/S, Oxiteno, India Glycols Ltd., Chemtura Corporation, Setre Chemical Company, Nippon Shokubai Co. Ltd., Kao Corporation
Get The Full Global Alkoxylates Market Report
Alkoxylates Market Overview
Alkoxylates are chemicals that are produced by alkoxylation by the addition of butylene oxide, propylene oxide, and ethylene oxide to fatty hydrophobes. They are mainly used for the industrial cleaning sector.
Alkoxylates Global Market Report 2023 provides data on the global alkoxylates market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The alkoxylates market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.