Press release
Alkoxylates Market - Current and Future Plans
The global alkoxylates market is mainly driven by the increasing demand from end use industries such as chemical, personal care and detergent, among others. Demand for the alkoxylates has witnessed a steady growth, primarily, owing to two factors namely the ease of availability of different kind of alkoxylates and their suitability in a multitude of applications. Also, the use of biodegradable raw material in the manufacturing of alkoxylates produces environment-friendly alkoxylate compounds, which is a major boon since it is useful to cater to the industrial demand in developed countries such as those in Europe, U.S., etc. Furthermore, a drop in raw material prices and other feedstock prices has imparted an additional profit margin, thus stimulating the production of alkoxylates.
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Some alkoxylates are, however, hazardous in nature and thus, special care is needed during the manufacturing process, which can create space for the production of alternative materials. Also, government regulations have in turn acted as impediment to growth of alkoxylates market. Moreover, the production of biodegradable alkoxylate compounds is relatively less than that of synthetic alkoxylate compounds. With rising environment concerns and focus of end use industries to support sustainable development, the demand for biodegradable chemicals is growing; which in turn is forecasted to open new avenues for the alkoxylates market and generate opportunities for growth of the market over the forecast period. Also, relative cost effectiveness of the alkoxylates is also anticipated to create a growth opportunity for the global alkoxylates market.
The Asia-Pacific region dominates the global alkoxylates market owing to strong demand for surfactants from end use industries and the presence of emerging economies such as India and China. As a part of strategic development, major key players in alkoxylates market are expanding their production facilities in the Asia-Pacific region to acquire the maximum market share and avail cost benefits in alkoxylates production. After Asia Pacific, North America is a large market in terms of consumption of alkoxylates and it is expected to grow with a steady CAGR over the forecast period. In Europe, government regulations for the use of biodegradable chemicals have considerably impacted the alkoxylates market; the alkoxylates market in the region is forecast to grow with a healthy
CAGR over the forecast period. MEA and Latin America regions are expected to witness steady growth over the forecast period.
Examples of some market participants in the global alkoxylates market, identified across the value chain include KLK OLEO, The Dow Chemical Company, BASF SE, Clariant, Croda International Plc, Huntsman International LLC., Ineos Group Limited, Solvay S.A., Jiahua Chemicals Inc, Royal Dutch Shell, Akzo Nobel N.V., Venus Ethoxyethers Pvt. Ltd., Evonik Industries AG, Ethox Chemicals and Kaiser Industries Ltd, among others.
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