The global alcohol ethoxylates market size is expected to reach USD 7.45 Billion by 2025, according to a new report by Grand View Research, Inc. The market is expected to witness growth at 4.2% CAGR. Rising demand for fatty alcohol ethoxylates owing to their biodegradable properties is expected to drive the market growth over the forecast period. The use of the product in the production of advanced detergents, emulsions and pharmaceutical products is expected to drive growth.
The price of the product closely follows the raw material cost thereby imparting a volatility in the prices. In addition, rising substitution of other ethoxylates by environmentally friendly alcohol ethoxylates is expected to drive growth over the forecast period.
Presence of a large number of companies involved in product manufacturing is expected to benefit the industry growth. Major players in the market are involved in implementing new product introduction and capacity increases as the major strategies driving market growth. In addition, the production of advanced formulation solutions is expected to provide the necessary impetus to the market growth.
The product use is expected to be advocated by the softening stand of the regulatory agencies towards the use of the product in applications that involve direct human contact. Presence of minimal regulations in high consuming economies such as India and China is expected to drive the market growth over the forecast period.
U.S. alcohol ethoxylates market revenue, by product, 2014 – 2025 (USD Million)
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Further key findings from the report suggest:
- Fatty alcohol ethoxylates segment emerged as the largest segment accounting for 37.4% of the global revenue in 2016 on account of superior properties that aid in cleaning in household and industrial applications
- The demand for the product for emulsifiers is expected to register a growth of 4.5% from 2017 to 2025 due to high stabilizing characteristics of oil-water emulsions provided by the such products
- The demand for alcohol ethoxylates for cleaning applications accounted 53.2% of the revenue in 2016 and is expected to register growth on account of industrial development coupled with heightened adoption by major players
- The market for alcohol ethoxylates in North America is expected to grow at a CAGR of 4.4% from 2017 to 2025 on account of the rising demand for low rinse and low foam detergents in industrial and household applications
- Key market players lay high emphasis on the development of advanced product and employ price discrimination as a strategy to attract consumers
For more information: http://www.grandviewresearch.com