The size of the worldwide ethoxylates market is estimated at USD 12.1 billion in 2022, and it is predicted to reach US$ 12.7 billion in 2023. By the end of the projected period, it is anticipated to have a market value of US$ 17.4 billion and a CAGR of 3.2%.

Ethoxylates are used in a wide range of products, including solvents, soaps and detergents, lubricants, cosmetics, and cleaning agents. Due to qualities like quick surface-wetting, good detergency, and low-foaming properties, product usage in the home and personal care industry is constantly rising. The ability to purchase high-end personal care goods has expanded along with the middle class's financial security. In the upcoming years, the use of ethoxylates will expand due to rising disposable income and growing consumer demand for cosmetics.

The need for ethoxylates across a range of sectors, including personal care, pharmaceuticals, industrial, and household cleaning, is anticipated to drive the market. The ingredient is widely utilised in detergent and cosmetic product formulations as a foaming and wetting agent.

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Key Takeaways from the Market Study

·        Europe will account for the highest revenue generator in the Ethoxylates market during the forecast period.

·        Asia Pacific is anticipated to be the fastest-growing region while exhibiting a CAGR of 4.5% by 2033.

·        By product type, Alcohol ethoxylates will dominate the segment while registering the highest CAGR.

·        The Alcohol ethoxylates segment is anticipated to be worth USD 13.1 billion by the end of 2033.

·        By Application type, household, and personal care is expected to dominate the segment during the forecast period.

·        The demand and consumption of ethoxylates across various industries, including personal care, pharmaceutical, industrial, and household cleaning will drive the ethoxylates market.

“The market's expansion may be linked to a paradigm shift toward workflows and process automation across a wide range of businesses and industrial verticals. Enterprises all over the world are eager to embrace effective and smooth business processes that can be executed regardless of location, which is propelling this industry ahead.” comments a Future Market Insights analyst.

Competitive Landscape

The global ethoxylates market is consolidated with few large and medium-sized players accounting for most of the market revenue. Major players are deploying various strategies, entering into mergers and acquisitions, strategic agreements, and contracts, developing testing, and introducing more effective ethoxylates solutions. Some of the major companies included in the global ethoxylates market report are-

Dow chemical company, BASF, Royal Dutch Shell PLC, Petroliam Nasional Berhad, Ecogreen Oleochemicals, PT Polychem Indonesia Tbk, Stepan Company, Clariant, Sasol Limited, India Glycols Ltd, Ineos Group Ltd., Solvay, Oxiteno, Galaxy Surfactants, Nouryon, SABIC, Evonik, Mitsui Chemicals Inc., PCC Exol, Arkema Group.

·        On 26 May 2022, BASF, which is a Germany-based chemical company announced the BASF hub program in collaboration with AHK Romania. The hub will bring together start-ups and innovators from 11 central and southeast European nations, including Romania. The project’s objective is to serve as a launching pad for new businesses, promoting the best ideas and providing financial assistance.

·        On 12 May 2022, Royal dutch shell, a UK-based oil, and gas chemical signed an agreement with Lukoil to sell lubricants and retail business in Russia. The deal includes 411 retail stations mostly in Russia’s northwestern and central regions as well as the lubricants lending factory in Torzhok, located around 200 kilometers north of Moscow. The purchase of the shell’s high-quality business in Russia is in line with LUKOIL’s goal to expand its key sales channels, including retail and the lubricant business.

Key Segments Profiled in the Ethoxylates market Survey

Ethoxylates Market by Application:

• Household and Personal Care
  • Laundry & Dishwashing Detergent
  • Industrial & Institutional Cleaning
  • Personal Care
• Agrochemicals
  • Herbicides
  • Fungicides
  • Insecticides
• Oil and Gas
  • Foam Control & Wetting Agents
  • Lubricants & Emulsifiers
• Pharmaceuticals
• Other Applications
  
  

Ethoxylates Market by Product:

• Alcohol
  • Natural Alcohol Ethoxylates
  • Synthetic Alcohol Ethoxylates
• Fatty Amine
• Fatty Acid
• Methyl Ester
• Glyceride
  
  

Ethoxylates Market by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa (MEA)

Source: https://www.globenewswire.com/en/news-release/2022/12/12/2571605/0/en/With-a-CAGR-of-3-2-the-Ethoxylates-market-will-be-Driven-by-the-Growing-Demand-from-the-Personal-Care-and-Pharmaceutical-Industry-Future-Market-Insights-Inc-Study.html