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Chemical Auxiliary Agents Market Booms with Innovative Trends: Market Size, Segment Analysis, Competitive Insights, and Factors Propelling Industry Growth
Chemical Auxiliary Agents Market
Chemical Auxiliary Agents Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $43.11 billion In 2028 At A CAGR Of 8.3%.
The chemical auxiliary agents market size has grown strongly in recent years. It will grow from $28.7 billion in 2023 to $31.38 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth in the historic period can be attributed to industrialization, growth in manufacturing sectors, rising demand for water treatment chemicals, expanding agricultural activities, globalization of chemical markets.
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.
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Chemical Auxiliary Agents Market Major 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 Driver - 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.
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Prominent Trend - 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.
Chemical Auxiliary Agents Market Players
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.
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the chemical auxiliary agents market in 2023. The regions covered in the chemical auxiliary agents market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Chemical Auxiliary Agents Market Report Structure
3. Chemical Auxiliary Agents Market Trends And Strategies
4. Chemical Auxiliary Agents Market - Macro Economic Scenario
5. Chemical Auxiliary Agents Market Size And Growth
…..
27. Chemical Auxiliary Agents Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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