The global alcohol ethoxylates market is estimated to garner noteworthy revenue by growing at a CAGR of ~5% CAGR over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to factors, such as, the rising demand for cleaners in multiple industries, and the growing awareness of personal care. The major utilization of cleaners can also be seen for domestic chores. For instance, the size of the home & laundry industry is projected to reach approximately USD 160 billion over the forecast period. The constantly growing beauty & personal care industry is also anticipated to boost the growth of the market during the forecast period. As of 2022, the revenue of the beauty & personal care industry is projected to be valued at about USD 550 billion. Alcohol ethoxylates are also utilized in the manufacturing of soaps and detergents. The soap market is projected to grow exponentially during the forecast period. For instance, the soap industry revenue amounted to about USD 20 billion in 2021, which is further estimated to reach over about USD 25 billion over the forecast period. All these factors are projected to influence the growth of the market positively during the forecast period.
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The market is segmented by application into cleaners, cosmetics, and detergents, out of which, the cosmetics segment is anticipated to hold the notable share in the global alcohol ethoxylates market during the forecast period on account of its significant utilization in the manufacturing of cosmetics. Regardless of gender, in modern times, everyone uses some sort of cosmetics. Hence, the segment is estimated to grow exponentially during the forecast period.
The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, the Chemical industry in the U.S. accounted for 16.43% of manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in the future. According to UNEP (United Nations Environment Programme), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, which accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. The easy availability of low-cost raw materials & labor, as well as government subsidies and relaxed environmental norms, have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for investment in businesses in Asia Pacific countries in the upcoming years.
Regionally, the global alcohol ethoxylates market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in the Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of rapid growth in multiple industries such as personal care, textile, laundry cleaning, and others. Furthermore, the growth of the market in the region is also ascribed to the developing beauty & personal care industry, as alcohol ethoxylates are highly utilized in cosmetics. As of 2022, the value of the beauty & personal care industry is estimated to be approximately USD 200 billion in the region.
Furthermore, the global alcohol ethoxylates market is also anticipated to grow at a significant pace in the North America region during the forecast period. the growth of the market in the region can be ascribed to factors, such as, rising awareness of personal care, and increasing investment in various related industries such as, textile, agriculture, personal care, and others.
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The global alcohol ethoxylates market is further classified on the basis of region as follows:
North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of the Middle East and Africa) Market size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
Our in-depth analysis of the global alcohol ethoxylates market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Increasing demand for cleaners in multiple industries and developing personal care industry are the major factors driving the growth of the alcohol ethoxylates market.
The market is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2022 - 2031.
The major players in the market are Sasol Limited, Huntsman International LLC., BASF SE, Nouryon Chemicals Holding B.V., Clariant AG, Royal Dutch Shell plc, Akzo Nobel N.V., Dow Chemical Company, Arkema S.A., and Evonik Industries AG.
The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue-generating capacity as well as the new products being launched into the market by the company.
The market is segmented by product type, application, end-user industry, and by region.
The cosmetics segment is anticipated to hold the largest market size in value over the forecast period and display significant growth opportunities.
The presence of alternative products in the market is estimated to hamper market growth.
Asia Pacific region will provide more business opportunities for the growth of the alcohol ethoxylates market in the future on the back of the growth of various growing related industries in the region.
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