Technological innovations and widening scope across consumers will also have a positive market impact. Alcohol ethoxylate is mainly used to make detergents and industrial, household, and institutional cleaning products. Changing consumer lifestyles and demand across end-users, especially in Asia Pacific, will also fuel the alcohol ethoxylate market.
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Alcohol ethoxylate is biodegradable. It is preferred due to environmental concerns. Strict environmental regulations in North America and Europe are contributing to its use in detergents. Globally, manufacturers are doing extensive research to develop environment-friendly, yet affordable products. This could create new market opportunities.
However, fluctuating prices of raw materials may inhibit the alcohol ethoxylate market. Personal care & household, with more than 39% market share, is the largest end-user. Agrochemicals, textiles, and leather processing are anticipated to be the key market consumer industries in the forthcoming years.
According to geography, the market is segmented into North America, Asia Pacific, Latin America, and MEA – Middle East and Africa. Europe captures the largest share in terms of volumes and revenues. The adoption of environmentally-safe household and personal care products would drive growth in this region.
Asia Pacific will grow the fastest in the near future. Agriculture and personal care will be the leading end-users of this region. India, Japan, and China are foreseen to generate high demand in the aforementioned segments. The worldwide alcohol ethoxylate market is highly fragmented. Manufacturers compete by raising their capacities and using natural sources like coconut, tallow, and palm oils.
Mergers and acquisitions are the other competitive strategy. Some of the notable market participants are BASF SE, Clariant AG, Shell Chemicals, Huntsman International LLC, and Stepan Company. Other players in the alcohol ethoxylate market include Sasol Ltd., India Glycols Ltd., Ineos Group, The Dow Chemical Company, and Chemicals Inc.