The increasing application scope of the ethoxylates market across a number of high-income industries is likely to fuel the global ethoxylates market share over the coming years. Ethoxylates are witnessing a mounting demand from the pharmaceutical, personal care, as well as the oil and gas industry, which is set to drive its growth graph in the forthcoming future.
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In addition, ethoxylates and the compounds developed through them are also used extensively across a plethora of industrial cleaning systems including leather processing, agriculture, metal working, as well as pulp and paper production. The product is also heavily used as an ingredient in domestic cleaning agents as well as co-formulants in biocides and pesticides. Apart from these factors, the continued use of ethoxylates to fix chrome dyes in the process of wool dyeing would likely further push its demand over the forthcoming timespan.
Speaking of the product segment, the ethoxylates market is bifurcated into a fatty amine, alcohol, fatty acid, glyceride, and methyl ester. The fatty acid ethoxylates segment is witnessing a growing demand owing to its use as a cleaning agent, wetting agent, dispersant, and emulsifying softeners. In fact, due to the aforementioned applications, the product finds massive use in the global textile market, which is projected to positively impel the segment share through 2026.
Apart from fatty acids, the methyl ester segment is also slated to record substantial gains through the forthcoming timeframe as methyl esters can effectively work as exceptional detergents and emulsifiers. The product also helps in developing viscosity at low active formulations, which is likely to impel its adoption and considerably propel the overall market size.
With reference to the application segment, the ethoxylates market is divided into personal and household care, pharmaceuticals, oil & gas, agrochemicals as well as other segments that include textiles, paints, and leather. The pharmaceutical sector is set to observe the heaviest product adoption rate through the forthcoming timespan. This growth can be ascribed to the extensive use of ethoxylates in the pharmaceutical industry for producing creams, lotions, and ointments.
Geographically, the rapidly growing oil & gas production the Middle East & Africa region is slated to provide a positive growth trajectory to the MEA ethoxylates market share through the analysis period. Ethoxylates are heavily used across the sector as a surfactant, which when coupled with cost the effectiveness of the product, would greatly complement the overall industry outlook in the region over the coming years.
Further speaking on the similar lines of the regional landscape, Latin America ethoxylates industry is set to observe a highly lucrative growth trend over the forthcoming years. Primarily, this projected rise in the adoption of ethoxylates in the region can be attributed to a momentous rise in household detergent demand, which is projected to drive substantial industry profits over the forecast timespan.
Lately, major ethoxylates market players are putting immense efforts towards implementing various growth strategies like collaborations, acquisitions, and investment rounds to set themselves apart of the rising competition in the industry. Citing an instance, in January 2019, INEOS Oxide, a subsidiary of INEOS acquired a Wilmar ethoxylation facility located in France to bolster its business outlook in the region.
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The competitive landscape of the global ethoxylates market is inclusive of players such as Ineos Group Limited, India Glycols Limited, Sasol Limited, E.I. du Pont de Nemours and Company, Clariant AG, Stephan Company, Huntsman International LLC, Royal Dutch Shell, BASF SE, and Dow Chemical Company among others.
All in all, based upon the aforementioned determinants and growth trends, Global Market Insights, Inc., projects that the global ethoxylates market is likely to go through a period of remunerative growth during the forecast timespan.
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