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Chemical Auxiliary Agents Global Market Report 2024 - by Demand, Size, Share, Trends, Forecast To 2033
Chemical Auxiliary Agents Market
The chemical auxiliary agents market size is expected to see strong growth in the next few years. It will grow to $43.11 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to growing awareness of environmental sustainability, rising demand for specialty chemicals, expansion of the food and beverage industry, increased use of chemical auxiliaries in the pharmaceutical sector, development of innovative materials. Major trends in the forecast period include increasing focus on green chemistry, demand for bio-based and sustainable chemical auxiliaries, adoption of smart manufacturing processes, emergence of personalized chemical solutions, integration of digital technologies in chemical production.
Market Overview -
Chemical auxiliary agents are substances utilized in the chemical industry to enhance or modify the final product's physical properties, such as its color, texture, or viscosity. They are not the main components of chemical reactions or formulations but play a supporting role in improving efficiency, stability, and other desired properties.
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Growing Demand For Personal Care Products Fuels Expansion Of The Chemical Auxiliary Agent Market
The rising demand for personal care products is expected to propel the growth of the chemical auxiliary agent market going forward. A personal care product refers to a group of self-care items used for personal hygiene, cleaning, and grooming. Chemical auxiliary agents are added to personal care products to prevent the growth of microorganisms and increase the product's shelf life. For instance, in February 2023, according to L'Oréal S.A., a France-based personal care company, sales of consumer products increased from 11.8% to 14.6% and active cosmetics from 28.0% to 30.6% from the 4th quarter of 2022 to December 31, 2022. Further, the Dermatological Beauty Division closed the year with an exceptional growth rate of +21.9% like-for-like and +30.6% based on reported numbers. Therefore, the rising demand for personal care products is driving the growth of the chemical auxiliary agent market.
Competitive Landscape -
Major companies operating in the chemical auxiliary agents market report are BASF SE, The Dow Chemical Company, Sumitomo Chemical Co. Ltd., Evonik Industries AG, Covestro AG, Solvay SA, Arkema SA, Akzo Nobel N.V., Kao Corporation, Eastman Chemical Company, Lanxess AG, Huntsman International LLC, Clariant AG, Lonza Group AG, Lubrizol Corporation, Wacker Chemie AG, Croda International PLC, Ashland Global Holdings Inc., Innospec Inc., Archroma Corporation, Pidilite Industries Limited, Kemin Industries Inc, Fineotex Chemical Ltd., Zschimmer & Schwarz Inc., Camex Ltd., Ethox Chemicals LLC, Fibro Chem LLC, Mitra Auxillary Chemicals Pvt.Ltd., SpringSeal Inc., Crucible Chemical Company.
Product Innovation Drives Growth In The Chemical Auxiliary Agent Market
Product innovation has emerged as a key trend gaining popularity in the chemical auxiliary agent market. Major companies operating in the chemical auxiliary agent market are concentrating on creating innovative products to strengthen their position in the market. For instance, in June 2022, Cosmo Specialty Chemicals, an India-based specialty chemical manufacturer, launched Silky SF, a cationic softener. Silky SF softener is advised as a finishing agent for all types of fabric, mainly cotton, since it gives the cloth a smoother surface. The fabric's physical texture is given a supple, fluffy, soapy, and voluminous surface when used as a finishing treatment. This finishing chemical can be applied using an exhaust and pad technique to boost the fabric's lubricity.
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Key Segments -
The chemical auxiliary agents market covered in this report is segmented -
1) By Agent: Dispersing Agents, Separation Agents, Solvents
2) By Application: Technical Textiles, Home Furnishings, Apparel
3) By Industry: Construction, Paint, Paper, Textile, Other Industries
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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