According to the latest report by Global Market Insights, Inc., ethoxylates market size is projected to surpass USD 15 billion by 2027.
Major industrial sectors such as oil & gas, agrochemicals, pharmaceuticals, personal care & cosmetics, textiles involve the application of variety of chemicals that form a crucial part of their manufacturing processes. One such chemical compound is- ethoxylate, which is predominantly used in these industry verticals.
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It serves as a surfactant, emulsifier, dispersant, emollient, wetting agent, stabilizer, degreasing agent, and viscosity control agent. Its diverse functionality is driving the product demand in cosmetics & personal care companies to a great extent. The expansion of this particular sector on account of increasing consumer expenditure and growing awareness about personal hygiene is providing lucrative opportunities for ethoxylates market.
The industry is making significant progress with the heightened product application in oil & gas exploration activities. Besides, the growing popularity of natural ingredients in cosmetics & pharmaceutical sector for the preparation of novel and eco-friendly products is also creating ample growth opportunities for ethoxylates market.
Rising ethoxylate application is encouraging the industry players to focus on increasing their production capacity as well as developing new offerings to strengthen their market position. For instance, in 2021, specialty chemical manufacturer Clariant and India Glycols announced their joint venture to produce ethoxylated surfactants in India using biobased ethylene oxide.
Ethoxylates are available in various types such as alcohols, fatty acid, fatty amine, glyceride, and methyl ester. Fatty acid ethoxylate is, however, emerging as a highly preferred product in global ethoxylate market. In 2020, the market had generated a substantial revenue of over USD 1 billion from fatty acid segment. This can be ascribed to the high product application as viscosity regulators, solubilizer, emulsifiers, dispersing agents, fabric softeners, antistatic additives, and plasticizing agents. Its low toxicity and natural base are impelling its application in textile auxiliaries, cosmetic, pharmaceuticals, and crop protection formulations.
Speaking of applications, ethoxylates are extensively used in household & personal care products. They are known to have superior water solubility and emulsification properties which makes them suitable for personal care products like shampoos, hair conditioners, shower gel, and toothpaste. In addition, their degreasing, anti-foaming, foaming, cleaning, dispersing and wetting characteristics have increased their application in laundry detergents, household cleaners, and institutional & industrial cleaners. With their increasing demand, household & personal care segment is expected to observe a notable CAGR of over 4.5% through 2027.
Based on the regional landscape, the industry is observing meritorious growth in Europe owing to the strong presence of large personal care and cosmetics companies in the region. In 2020, the regional market had accounted for a sizeable share of 25%. This can be ascribed to the increasing product demand in oil & gas and pharmaceutical applications. Besides, increasing adoption of surfactants, large production capacity for ethylene oxide along with the presence of multinational manufacturers is as well fueling the product adoption in the region. The higher product demand coupled with growing consumer preference for renewable bio-based surfactants and favorable regulatory scenarios is accelerating the business expansion in Europe.
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A wide range of industrial applications especially in cosmetics & personal care sector is offering lucrative growth prospects for ethoxylates market. The diverse characteristics of the product have instigated its adoption in pharmaceutical, agrochemical, and oil & gas industries which are complementing the business growth further.
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