“Global Alkoxylates Market to reach a market value of USD 10.8 Billion by 2031 growing at a CAGR of 5.1%”
The Global Alkoxylates Market size is expected to reach $10.8 billion by 2031, rising at a market growth of 5.1% CAGR during the forecast period. In the year 2023, the market attained a volume of 3,324.5 Kilo Tonnes experiencing a growth of 20.5% (2020-2023).
In 2023, the Asia Pacific region generated 36% revenue share in this market. Agriculture is a significant economic sector in many countries in the Asia-Pacific region. They are widely used in agriculture as adjuvants in pesticide formulations, helping to enhance the effectiveness of agrochemicals. Thus, the Asia Pacific region consumed 1,283.5 Kilo Tonnes in 2023.
As surfactants are one of the primary applications of alkoxylates, the rising demand for surfactants directly translates to increased consumption of alkoxylates. Ethoxylates and propoxates, key alkoxylates, are extensively used in surfactant formulations across industries such as household cleaning, personal care, agrochemicals, and industrial cleaning. The surge in surfactant demand drives manufacturers to produce more alkoxylates to meet the growing market requirements. Thus, increasing demand for surfactants is driving the growth of the market.
Additionally, Specialty chemicals are formulated to address specific performance needs and challenges in various industries, such as personal care, agrochemicals, pharmaceuticals, and industrial applications. They serve as key ingredients in customized formulations of specialty chemicals, providing functionalities such as emulsification, wetting, dispersing, solubilization, and surface modification. The rising demand for specialty chemicals drives the need for tailor-made alkoxylate formulations to meet the exacting requirements of end-users. Hence, the rising need for specialty chemicals propels the market’s growth.
However, Changes in the price of raw materials immediately impact alkoxylate manufacturers. Sudden increases in ethylene and propylene oxide prices lead to higher production costs, squeezing alkoxylate producers' profit margins. Conversely, when raw material prices decrease, manufacturers may face inventory write-downs or reduced revenues if they cannot adjust their selling prices quickly enough to reflect the lower costs. Therefore, volatility in raw material prices hinders the market’s growth.
Based on grade, this market is divided into natural ethoxylates and synthetic ethoxylates. The natural ethoxylates segment procured 36% revenue share in this market in 2023. With growing environmental awareness, there’s a shift towards more sustainable and eco-friendly products. Natural ethoxylates, derived from renewable resources such as plant-based oils, are perceived as more environmentally friendly than synthetic ones. In terms of volume, the segment would register 3,324.5 Kilo Tonnes in 2023.
On the basis of type, this market is segmented into fatty acid ethoxylates, alkyl phenol ethoxylates, glycerin alkoxylates, sorbitan ester alkoxylates, and others. In 2023, the alkyl phenol ethoxylates segment attained 21% revenue share in this market. Alkyl phenol ethoxylates (APEs) are known for their compatibility with harsh chemical and environmental conditions, including high temperatures, extreme pH ranges, and hard water.
Based on application, this market is categorized into wetting agents, cleaning agents, detergents, stabilizers, surfactants, and others. The stabilizers segment witnessed 23% revenue share in this market in 2023. They can stabilize emulsions by reducing the interfacial tension between immiscible phases, such as oil and water. This stabilizing effect prevents coalescence and phase separation, forming stable emulsions with uniform droplet size and distribution. In terms of volume, the segment would register 499.5 Kilo Tonnes in 2023.
Based on end-use industry, this market is divided into agrochemicals, paints & coatings, personal care, pharmaceuticals, oil & gas, and others. In 2023, the agrochemicals segment procured 23% revenue share in this market. They serve as adjuvants in spray solutions to enhance the performance and effectiveness of agrochemicals. They improve the dispersion and stability of active ingredients in tank mixes, preventing settling or separation during storage and application.
Free Valuable Insights: Global Alkoxylates Market size to reach USD 10.8 Billion by 2031
Region-wise, this market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region witnessed 32% revenue share in this market in 2023. North America is home to significant industrial sectors such as personal care, household cleaning, agrochemicals, pharmaceuticals, and oil and gas, all major consumers of alkoxylates. The region’s robust manufacturing base and diverse consumer markets drive substantial demand for these across various industries, supporting a thriving market for these versatile chemicals.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 7.3 Billion |
| Market size forecast in 2031 | USD 10.8 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 5.1% from 2024 to 2031 |
| Quantitative Data | Volume in Kilo Tonnes, Revenue in USD Billion, and CAGR from 2020 to 2031 |
| Number of Pages | 482 |
| Number of Tables | 1010 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Grade, Type, Application, End-use Industry, Region |
| Country scope |
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| Companies Included | BASF SE, Huntsman Corporation, Mitsui Chemicals, Inc., SABIC (Saudi Arabian Oil Company), Shell plc, Solvay SA, The Dow Chemical Company, Croda International Plc, Evonik Industries AG (RAG-Stiftung), and INEOS Group Holdings S.A. |
By Grade (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Type (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Application (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By End-use Industry (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Geography (Volume, Kilo Tonnes, USD Billion, 2020-2031)
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