Global Ethoxylates Market size to exceed $15 billion by 2027
Published Date: May 24, 2021 Authors: Kunal Ahuja, Amit Rawat
According to a new research report by Global Market Insights, Inc., the global Ethoxylates Market size is estimated to surpass USD 15 Billion by 2027. Increasing consumer inclination towards naturally sourced and environmentally friendly products will favor business expansion.
Ethoxylates are obtained through the reaction of ethylene oxide and a substrate compound. Wide application scope of ethoxylates particularly in home & personal care, pharmaceuticals, agrochemicals, and oil & gas industry is driving the ethoxylates market expansion. The product is extensively utilized as a wetting agent, degreaser, foaming agent, surfactant, and an emulsifier in these industries. Besides, these products are also found in laundry & dishwashing detergents, and industrial & institutional cleaning products.
The willingness of consumers to spend more on premium biodegradable non-ionic surfactants will boost product adoption rate in pharmaceuticals and cosmetic formulations. The global cosmetics & personal care industry is projected to grow at an average of 5% annually up to 2027. Besides, key benefits such as range of obtainable hydrophilic-lipophilic balance, cost-effectiveness, and widescale availability will boost the ethoxylates market expansion.
Alcohol, fatty amine, and fatty acid-based ethoxylates are majorly used products in the overall industry. Alcohol ethoxylates tend to have lower foam stability, which is generally an advantage in industrial surfactants. Fatty alcohol ethoxylates are an effective replacement of nonylphenol ethoxylates (NPEs), thus supporting its adoption in numerous applications.
Large-scale manufacturers have focused on backward integration by producing ethylene oxide as well as ethoxylates to reduce the variations in raw material prices and gain competitive advantage. However, stringent environmental regulations pertaining to use of ethylene oxide & derivatives in various applications may restrain the ethoxylates market growth.
Large application base of fatty amine ethoxylates will foster product demand
Fatty amine ethoxylates accounted for over 500 Kilo Tons in 2020 and is forecasted to witness a substantial growth of 4% at the end of 2027 owing to superior foam-forming properties, excellent stability and, miscibility in acidic & alkali solution. These products are non-ionic surfactants with diverse functionalities including excellent solvency, absolute chemical stability, outstanding foam-forming ability, and overall good detergency properties. Hence, they find applications in industries such as oil & gas, textile, agrochemical, paper, among others. Commonly used products include stearyl amines, oleyl amines, coco amines, and tallow amines.
Fatty amine ethoxylates are useful as an intermediate for synthesis of anionic surfactants. It functions as dye leveling agents and wetting agents in industrial detergents and textile industries. Moreover, it acts as adjuvant or emulsifiers in agrochemicals, and as a solubilizer in textile processing industry. Growing product utilization in petroleum refinery processes owing to its corrosion inhibitory properties will instigate the overall ethoxylates market share.
Browse key industry insights spread across 340 pages with 148 market data tables & 67 figures & charts from the report, “Ethoxylates Market Size By Product (Alcohol [Natural Alcohol Ethoxylates, Synthetic Alcohol Ethoxylates], Fatty Amine, Fatty Acid, Methyl Ester, Glyceride), By Application (Household & Personal Care [Laundry & Dishwashing Detergent, Industrial & Institutional Cleaning, Personal Care], Agrochemicals [Herbicides, Fungicides, Insecticides], Oil & Gas [Foam Control & Wetting Agents, Lubricants & Emulsifiers], Pharmaceuticals) Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
Rise in crude oil production will generate new growth prospects for ethoxylates market growth
Oil & gas applications segment accounted for over USD 1.4 billion in 2027, owing to increasing product utilization as emulsifiers, foam control, and wetting agents to ensure smooth functioning and stability of oil well. Moreover, increasing crude oil production across globe has enhanced the demand for drilling fluids containing ethoxylated ingredients. These products are utilized in well stimulation operations and for the removal of paraffin and asphaltene. In addition, the ability of product to work in extreme conditions along with its cost-effectiveness will further escalate adoption rate.
“As per the analysis, Oil & gas application is forecasted to grow over 4.5% by 2027 owing to strong demand for emulsion breakers along with rising oil recovery activities globally”
Strong growth of the oil & gas, pharmaceuticals and personal care sectors in North America will foster product demand
North America observes the second-largest demand for ethoxylates after Asia Pacific majorly due to surging crude oil production and shale gas boom in the region. Moreover, steady growth of pharmaceuticals, and personal care sector has positively influenced regional growth.
North America has shifted from a net crude importer to a major crude oil exporter over the past few years. Over 25% of the regional ethylene oxide demand comes from ethoxylates. Also, the presence of large-scale manufacturers and end-use industries in the region is supporting the industry advancement.
The global ethoxylates market is competitive owing to presence of multinational corporations along with a considerable share of regional manufacturers. Key players in the ethoxylates industry include Oxiteno, Sasol Olefins & Surfactants, BASF SE, Ineos Group, Shell Chemicals, Clariant, India Glycols, The Dow Chemical Company, and Huntsman International. Prominent strategies observed among the industry participants include new product development, strategic acquisitions, and geographic expansion to gain a competitive advantage.