Hard Coatings Market
Overview:
The global market for ethoxylates is slated to score past a volume of 7,431 KT by 2023 at a 3.36% CAGR during the forecast period of 2018 to 2023. Market Research Future (MRFR) dug deep into various aspects of the market to understand how the market may flow in the coming days. These factors are the rising inclusion of the product in the development of various personal care products, the growing inclusion of alcohol ethoxylates in the development of household items, a surge in intake of the product in the pharmaceutical industry, and others. Value-wise, the market has a chance to surpass 3.6% CAGR during the forecast period. However, the global market may suffer from the toxic nature of the product.
Competitive Landscape:
DowDuPont Inc., BASF SE, Arkema SA, Roya Dutch Shell PLC, AkzoNobel N.V., Huntsman International LLC, Solvay SA, Evonik Industries AG, SABIC, Sasol Ltd., Ineos Group Limited, Mitsui Chemicals, Inc., and others, these are some of the major companies taking part in the progress of the global market. Their strategic moves are also improving their market position. Merger, innovation, spurring the investment for research and development sector, acquisition, tie-ups, innovative branding and marketing strategies, launching of new products, and others are expected to make sure the market stays on its course. MRFR documented several changes that took place in recent years to understand how the market is going to get impacted by trends. On the other hand, these companies have the potential to trigger new trends, which will increase the growth rate of the market.
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Segment Overview
Alcohol Ethoxylate to Witness the Most Extensively Use
The key types of ethoxylates in the market are Fatty Amine Ethoxylates, Alcohol Ethoxylates, Methyl Ester Ethoxylates, Fatty Acid Ethoxylates, Glyceride Ethoxylates, Ethyl Ester Ethoxylates, Polyethylne Glycol, Glyceride Ethoxylates, and more. Alcohol ethoxylate is one of the most significant chemicals in surfactant manufacturing, and offers properties like excellent cleaning of man-made fibers, tolerant with respect to water hardness and rapid biodegradation, which boosts their use in laundry detergent formulations. In short, the strong demand for ethoxylates surfactants will translate into robust growth of the alcohol ethoxylate segment over the next few years.
Personal Care to Secure the Leading Position
Some of the top application areas of ethoxylates are agrochemicals, household & personal care, pharmaceuticals, oilfield chemicals, and others. Personal care products enjoy a huge demand in developed countries, since the lifestyle of people here steer them towards products that ensure personal hygiene. Another key reason for the heightened demand for household and personal care products in Europe and North America is the significant disposable income, while personal care products are increasingly gaining favor among consumers in Asia Pacific in view of the rapid economic growth. Moreover, rising burden of chronic diseases, triggered by environmental negligence and degradation affecting hygiene and health fosters the demand for effective personal care products with ethoxylates formulations. Therefore, in 2016, the household and personal care application segment seized the highest share of 34.7% in the global market.
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Regional Analysis
Asia Pacific Takes the Lead
In terms of production and consumption, Asia Pacific is the top market for ethoxylates and can continue to lead throughout the evaluation period. Value-wise, the APAC market can touch USD 5,500 Million by 2023-end, and procure a growth rate of 4.36% in the coming years. The rapidly growing personal care, cleaning and pharmaceutical industries in India, Japan, South Korea and China, and the fact that the region is one of the highest exporters and producers of palm oil favors the market. Malaysia and Indonesia constitute close to 60 percent of the total global export of palm oil, which is a key raw material that helps develop amines and fatty alcohols, which in turn help make ethoxylates. Stable supply of major raw materials combined with the accelerated demand for various cleaners fuel the product demand and consumption in the region.
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By application, the global study of the ethoxylates market has been segmented into agrochemicals, pharmaceuticals, oilfield chemicals, household & personal care, and others. The personal care segment is witnessing rapid growth due to the product’s use as supporting components in the manufacturing of skin and hair-related products. In household applications, the product is expected to gain support from the detergent industry.
Regional Analysis:
In Asia Pacific, the ethoxylates market may surpass a valuation of USD 5,500 million by the end of 2023, with a 4.36% CAGR during the forecast period. This is due to the rising intake of the product in China, Japan, South Korea, India, and others to boost their various industries. In North America and Europe, the market may witness slackening pace due to various safety regulations.
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