Fatty Alcohol Alkoxylates Market- Overview
Fatty alcohol alkoxylates can be defined as a class of non-ionic surfactants, which is biodegradable and exhibits minimum toxicity compared to its counterparts. The product is generally produced by the alkoxylation of fatty alcohols with the addition of propylene oxide and ethylene oxide. It has a wide range of applications like emulsifiers, wetting agents, and dispersion applications and is consumed across industries such as industrial and institutional cleaning, household cleaning, textile, detergent intermediates, and personal care. The global fatty alcohol alkoxylates market, as per a report by Market Research Future (MRFR) is touted to register a CAGR of 5.0%, surpassing a valuation of USD 787.8 million during the forecast period (2017-2023).
The increased need for non-toxic and biodegradable surfactants from prominent end users of fatty alcohol alkoxylates like I&I cleaning and household cleaning is considered one of the top factors contributing to the market growth across the globe. The increased penetration of the I&I cleaning industry in the developing markets and significant boom in the personal care industry are considered some of the growth prospects of the fatty alcohol alkoxylates market. Trends such as the migration and expansion of cosmetic manufacturers in developing markets will create growth opportunities for the market across the globe.
Consumer preferences both in terms of cleanliness and personal hygiene have resulted in an increased demand for sustainable surfactants with advanced formulations. Moreover, the industry players are constantly involved in building strategic partnerships with local manufacturers and distributors in order to reduce the gap between the suppliers and customers of fatty alcohol alkoxylates. Such factors are estimated to elevate the market growth globally. Also, advancing technology will result in several growth opportunities in the market in the forecast period. A sharp drop in the raw materials and feedstock prices has further imparted additional profit margin, thereby augmenting the production of fatty alcohol alkoxylates globally.
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The top players operating in the fatty alcohol alkoxylates market include Huntsman Corporation, BASF SE, Clariant International AG, KLK OLEO, SASOL and Stepan Company, and Croda International Plc.
Global Fatty Alcohol Alkoxylates Market: Segmental Analysis
The fatty alcohol alkoxylates market has been segmented on the basis of type and application.
As per the report, the types of fatty alcohol alkoxylates mentioned include petroleum-based FAA and oleo chemical-based FAA.
By application, the market caters to detergent intermediates, household cleaning, textile, I&I cleaning, and personal care.
Geographically, the fatty alcohol alkoxylates market spans across the Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
Considering the global scenario, the Asia Pacific region is estimated to dominate the market and register a CAGR of 6.0% by the end of 2023. The region is home to several manufacturers hailing from China. Also, the surging penetration of end use industries is estimated to bring lucrative results for the market. The rapid urbanization & industrialization and ongoing infrastructural expansion in the emerging markets will result in increased demand for household cleaning products, which is further estimated to promote the regional market’s growth. Moreover, China acquires the largest share, with countries like South Korea and Japan following suit in terms of revenue collection.
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North America bags the second spot globally, in terms of value and volume, mainly due to the strict mandates about the biodegradability and toxicity of non-ionic surfactants. The surging penetration of front-load machines and automatic dishwashers in the households have further contributed to the market growth in the region. Moreover, the prevalence of auto wash centers and laundromat services will result in the expansion of the market in the foreseeable future.
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