Chemical Auxiliary Agents Global Market 2024 - Latest Research, Industry Insights, Emerging Opportunities And Future Outlook By 2033

The Business Research Company recently released a comprehensive report on the Global Chemical Auxiliary Agents Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, 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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Market Drivers and Trends:

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.

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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Major Key Players of the Market:

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.

Chemical Auxiliary Agents Market 2024 Key Insights:

• 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%.
• Growing Demand For Personal Care Products Fuels Expansion Of The Chemical Auxiliary Agent Market
• Product Innovation Drives Growth In The Chemical Auxiliary Agent Market
• Asia-Pacific was the largest region in the chemical auxiliary agents market in 2023

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