What Has Been The Historical And Current Growth Of The Ethoxylates Market?
The ethoxylates market has seen considerable growth due to a variety of factors.
• Over the past few years, the ethoxylates market has experienced consistent growth. It is projected that it will expand from $14.22 billion in 2024 to $14.89 billion in 2025, with a compound annual growth rate (CAGR) of 4.7%. The increase in the historic period is primarily due to demand from various sectors such as surfactant applications, the textile and leather industry, the agricultural sector, and other industrial applications.
What Are The Predictions for The Ethoxylates Market?
The Ethoxylates market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for ethoxylates is anticipated to witness a robust growth in the coming years. The market is projected to reach $18.7 billion by 2029, at a compound annual growth rate (CAGR) of 5.9%.
The growth during this forecasted period can be credited to factors such as the availability of raw materials, usage in the energy sector, trade and globalization, innovations and research development, and the regulatory landscape. Key trends during this period are likely to be product innovation and differentiation, supply chain resilience, versatility in household cleaning, use of environmentally friendly formulations, and increasing demand in the personal care sector.
Which Drivers Are Accelerating Growth In The Ethoxylates Market?
The boost in the growth of the ethoxylates market is expected to stem from an increase in demand by the oil and gas industry. Engaged in the excavation and production of oil and gas, this particular industry's rising need for ethoxylates is mainly attributed to its use in drilling fluid. For instance, as reported in September 2024 by the International Energy Agency (IEA), a France-based intergovernmental organization, the growth of global oil demand is experiencing a significant slowing down. The year-on-year increase for the first half of 2024 is noted to be the lowest since 2020, at 800 kb/d. The annual average gain is expected to drop to 900 kb/d in 2024, from 2.1 mb/d in 2023, culminating nearly 103 mb/d by the end of the year. Hence, the ethoxylates market is experiencing growth driven principally by increased demand from the oil and gas industry.
What Are The Core Segments Of The Global Ethoxylates Market?
The ethoxylates market covered in this report is segmented –
1) By Product: Alcohol, Fatty Amine, Fatty Acid, Ethyl Ester, Glyceride, Other Products
2) By Application: Household And Personal Care, Institutional And Industrial Cleaning, Pharmaceutical, Agrochemicals, Oilfield Chemicals, Other Applications
3) By End-Use: Detergents, Personal Care, Ointments And Emulsions, Herbicides, Insecticides, Foam Control And Wetting Agents, Lubricants And Emulsifiers, Other End-Uses
Subsegments:
1) By Alcohol Ethoxylates: Linear Alcohol Ethoxylates, Branched Alcohol Ethoxylates
2) By Fatty Amine Ethoxylates: Primary Fatty Amine Ethoxylates, Secondary Fatty Amine Ethoxylates
3) By Fatty Acid Ethoxylates: Saturated Fatty Acid Ethoxylates, Unsaturated Fatty Acid Ethoxylates
4) By Ethyl Ester Ethoxylates: Ester Ethoxylates From Natural Oils, Synthetic Ethyl Ester Ethoxylates
5) By Glyceride Ethoxylates: Glycerol Monoesters, Glycerol Diesters
6) By Other Products: Sugar Ethoxylates, Surfactant Blends
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Which Emerging Trends Are Reshaping The Ethoxylates Market Size?
In the ethoxylates market, product innovation is quickly becoming a prevalent trend. Key players in the ethoxylate market are engaging in the development of innovative products to enhance their market standing. For example, INEOS OXIDE, a specialty chemicals company based in the U.S., introduced Bio-Attributed Ethylene Oxide (EO), a bio-based source that doesn't interfere with food production, in July 2022. This new product is entirely renewable from a mass balance perspective, and it offers more than 100% Greenhouse Gas savings in comparison to traditional EO production methods. The Bio-Attributed Ethylene Oxide (EO) enables customers to substantially lower their carbon footprint and provide innovative solutions to meet the growing demands of their markets for sustainable solutions.
Who Are the Key Players In The Ethoxylates Market?
Major companies operating in the ethoxylates market include:
• BASF SE
• Huntsman International LLC
• Clariant AG
• Sasol Limited
• Ineos Group Ltd.
• Nouryon
• Evonik Industries AG
• Mitsui Chemicals Inc.
• Stepan Company
• The Dow Chemical Company
• India Glycols Ltd.
• Solvay S.A.
• Arkema S.A.
• Saudi Basic Industries Corporation (SABIC)
• PJSC Nizhnekamskneftekhim
• Akzo Nobel N.V.
• Croda International PLC
• Procter & Gamble Company
• Unilever PLC
• Lubri-Graph Corporation
• PTT Global Chemical Public Company Limited
• Galaxy Surfactants Pvt. Ltd.
• Tianjin Bohai Chemical Industry Group Corporation
• Aarti Industries Limited
• Indorama Ventures Public Company Limited
• Reliance Industries Limited
• Jiahua Chemicals Inc.
• Kao Corporation
• DuPont de Nemours Inc.
• Taiwan NJC Corporation
What Are The Regional Insights Into The Ethoxylates Market?
Asia-Pacific was the largest region in the ethoxylates market in 2024, and is expected to be the fastest-growing region in the forecast period. The regions covered in the ethoxylates market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
