(MENAFN- GetNews) Fatty Alcohol Alkoxylates Market is set to be worth USD 787.8 million by 2023 and will be expanding at a CAGR of 5.0% during the forecast period (2017-2023)
Market Overview
Rising consumer preferences for personal hygiene and cleanliness has further encouraged the demand for sustainable surfactants, which are characterized with advanced formulations. Industry participants are highly involved in building strong strategic partnerships with the local manufacturers and distributors to reduce the gap between suppliers and customers, which is encouraging the market growth across the globe. Moreover, the presence of industry bigshots and constant advancements made in the technology is likely to create several new growth opportunities for the market in the foreseeable future.
Fatty alcohol alkoxylates (FAA) can be defined as a non-ionic surfactant, which is made when the fatty alcohols convert into alkoxylates by adding ethylene oxide (EO) and propylene oxide (PO). FAA is extensively used across industries including personal care, textile, institutional, detergent intermediates, household cleaning, and industrial cleaning. It also finds applications across industries like wetting agents, emulsifiers, and dispersion applications.
The global fatty alcohol alkoxylates market is anticipated to garner a healthy CAGR of 5.0%, surpassing a valuation of USD 787.8 million during the forecast period (2017-2023), Market Research Future (MRFR) unveiled in a detailed report.
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The extensive demand for non-toxic and biodegradable surfactants, which are developed from fatty alcohol alkoxylates are expected to favor the market growth across the globe. Migration and capacity expansion of cosmetic manufacturers in emerging markets, coupled with the expansion of the personal care industry, will bring success to the overall market in the long run.
Competitive Dashboard
The top players operating in the global fatty alcohol alkoxylates market include Huntsman Corporation, BASF SE, Clariant International AG, KLK OLEO, SASOL, Croda International Plc, and Stepan Company.
Industrial Updates
August 2019: Thai Ethoxylate Company Limited has recently inaugurated the latest facility in Rayong that promises to produce fatty alcohol ethoxylates, especially for customers in personal care and home industries. The all-new plant will help to strengthen the position of the company's position as the leading producer of fatty alcohol ethoxylates.
Global Fatty Alcohol Alkoxylates Market: Segmental Analysis
The fatty alcohol alkoxylates market has been segmented on the basis of type and application.
By Type , the fatty alcohol alkoxylates market is segmented into petroleum-based FAA and oleochemical based FAA.
By Application , the market is segmented into detergent intermediates, household cleaning, textile, I & I cleaning, and personal care. Of these, the I & I cleaning segment is likely to gain prominence due to the rising concerns for hygiene and sanitation in order to promote public health. Also, rising per capita income expenses on household cleaning agents will fuel the market growth in the segment.
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Regional Frontiers
Geographically, the fatty alcohol alkoxylates market spans across Europe, North America, Asia Pacific, and the Middle East & Africa.
Considering the global scenario, the Asia Pacific commands the largest market share and acquires around 40% of the overall volume share. Penetration of the Chinese manufacturers and proliferation of the end users are likely to contribute to the market growth in the region. Factors like ongoing infrastructural development and rapid industrialization and urbanization, especially in the developing markets of the region are likely to encourage the market growth in the long run. In this region, China accounts for the largest share, which is followed by Japan and South Korea.
North America acquires the second spot in the global market, both in terms of volume and value. Regulations allied to toxicity and biodegradability of Fatty Alcohol Alkoxylates is considered a prominent factor encouraging the market growth. The proliferation of automatic dishwashers and frontload machines in households, coupled with the surging prevalence of Laundromat services and auto wash centers are further estimated to influence the growth of the fatty alcohol alkoxylates market.
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