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Alkoxylates Market Research Analysis 2024-2033: Growth, Size, Demand, and Insights
Alkoxylates Market Research Analysis
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According to The Business Research Company's, The alkoxylates market size has grown strongly in recent years. It will grow from $7.25 billion in 2023 to $7.68 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to rising demand from diverse industries, environmental regulations, population growth and urbanization, shift towards green chemistry, changing consumer preferences.
The alkoxylates market size is expected to see strong growth in the next few years. It will grow to $9.71 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to customized formulations, innovation in packaging materials, sustainable development goals (sdgs), growing demand in healthcare sector, increasing use of alkoxylates in agrochemicals. Major trends in the forecast period include e-commerce influence, adoption of renewable resources, consumer shift to eco-friendly products, stricter environmental standards impact, water treatment applications growth.
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Market Drivers and Trends:
The increased demand for personal care products is anticipated to propel the growth of the alkoxylates market going forward. Personal care products refer to a category of consumer goods designed for personal hygiene and grooming, which includes skincare, haircare, and oral care products. Alkoxylates are used in personal care products in cleansing agents such as shampoos, body washes, and facial cleansers to help in emulsifying oils and dirt. For instance, in September 2023, according to the Bureau of Labor Statistics, a US-based government agency, the average consumer expenditure on personal care products increased by 12.3 percent, which was $866 in 2022, up from $771 in 2021. Therefore, the increased demand for personal care products is driving the growth of the alkoxylates market.
Product innovations are a key trend gaining popularity in the alkoxylates market. Major companies operating in the alkoxylates market are focused on developing new and innovative solutions to strengthen their market position. For instance, in June 2022, Oxiteno, a US-based producer of surfactants and specialty chemicals launched a new dispersant agent OXITIVE 8000. The new agent reduces the viscosity, maximizing the pigment load and tinting strength. It is compatible with waterborne and alkyd solvent-borne decorative systems. They present a lower impact on final coating properties for pigment concentrates prepared with OXITIVE 8000.
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Major Key Players of the Market:
The Dow Chemical Company, BASF SE, Clariant AG, Croda International Plc., Huntsman International LLC, Solvay S.A., Akzo Nobel N.V., Evonik Industries AG, Kuala Lumpur Kepong Berhad OLEO, Lamberti S.p.A., Stepan Company, Jiahua Chemicals Inc., Royal Dutch Shell plc, Ineos Group Limited, Ethox Chemicals, Kaiser Industries Ltd., Venus Ethoxyethers Pvt. Ltd., IMCD Group, Indorama Ventures Public Company Limited, Poludniowy Koncern Chemiczny Group, Schärer & Schläpfer AG, Sasol Ltd., Nouryon, Novozymes A/S, Oxiteno, India Glycols Ltd., Chemtura Corporation, Setre Chemical Company, Nippon Shokubai Co. Ltd., Kao Corporation
Alkoxylates Market 2024 Key Insights:
• The alkoxylates market size is expected to see strong growth in the next few years. It will grow to $9.71 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%.
• Surging Oil And Gas Demand Drives Growth In Alkoxylates Market
• Oxiteno Oxitive 8000 Revolutionizing Alkoxylates Market With Advanced Dispersant For Enhanced Pigment Performance
• Asia-Pacific was the largest region in the alkoxylates market in 2023
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