Alkoxylates Market is expected to grow at a CAGR of 4.25% by 2030
According to ChemAnalyst report, “Global Alkoxylates Market Analysis: Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, End-User Industries, Distribution Channel, Regional Demand, 2015-2030”. Global Alkoxylates market witnessed a strong demand in the past five years and is anticipated to achieve a healthy CAGR of 4.25% during the forecast period owing to its wide range applications in various areas including cleaning agents, emulsifying agents, detergents, stabilizers, dispersing agents, and wetting agents etc.
Alkoxylates are produced by the chemical process i.e., alkoxylation, where alkylene oxides such as Ethylene oxide, Propylene oxide etc. are reacted to hydrophobes to form Alkoxylates. Alkoxylates are of different types depending upon the chemical undergoing alkoxylation process. They are alcohol alkoxylates, fatty acid alkoxylates, fatty amines alkoxylates etc. Among the different type of alkoxylates, alcohol alkoxylates dominate the global market. There are wide range of end use industries for Alkoxylates such as Paints and coatings, Pulp and Paper, Agrochemicals, textiles, Personal care, Pharmaceuticals, Detergents etc. As they are biodegradable and ecofriendly in nature their demand is continuously growing and expected to offer great opportunities for the expansion of Alkoxylates market in the forecast period.
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The COVID-19 pandemic has impacted numerous industries and its operations due to nationwide lockdowns across the globe, thus also affected the demand and supply of various chemicals including Alkoxylates. Several end use industries like Chemical, Textile, Paints and Coatings etc. faced a decline in production and sales due to the pandemic situation which consequently affect the Alkoxylates market. However, there is sudden increase in its demand amidst the COVID crisis as it is employed to manufacture cleaning agents and detergents. Also, there is an incline towards environment friendly products globally due to the rising concern for environment that is also going to drive the demand for Alkoxylates in the forecast period.
Region wise, Asia pacific region holds the major share of global demand for Alkoxylates due to the presence of numerous end use industries in the region such as Chemicals, Pharmaceuticals, Personal Care, Detergents, Paints and Cleaners coupled with the large consumer base in China, India, South Korea, and Japan. Moreover, increasing demand of environment friendly biodegradable materials is also an influencing factor supporting the expansion of markets size of Alkoxylates in not only in Asia pacific but also in Europe, U.S. and Brazil in the forecast period.
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According to ChemAnalyst report, “Global Market By Global Alkoxylates Market Analysis: Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, End-User Industries, Distribution Channel, Regional Demand, 2015-2030”, Major players for Alkoxylates globally include The Dow Chemical Company, Croda International Plc., BASF SE, Ineos Group Limited, Clariant, Huntsman International LLC., Solvay S.A., Royal Dutch Shell, Akzo Nobel N.V., Jiahua Chemicals Inc, Venus Ethoxyethers Pvt. Ltd., Evonik Industries AG, Ethox Chemicals and Kaiser Industries Ltd.
“Being linked to the Chemical, Textile, Personal Care and Pharmaceuticals which are continuously growing sectors owing to growing population and rapid industrialization, the demand for Alkoxylates is consequently increasing globally. Various chemical manufacturers are investing in the production of biodegradable alcohol Alkoxylates, fatty acid Alkoxylates, fatty amines Alkoxylates because of their wide range applications. This, in turn, is projected to drive the demand for Alkoxylates in the coming years. Additionally, factors such as relative cost effectiveness of the Alkoxylates coupled with the easy availability of raw material for their productions, are also expected to boost the global market for Alkoxylates in the forecast period” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
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