(MENAFN- PR Newswire) SAN FRANCISCO, Aug. 24, 2021 /PRNewswire/ -- The global narrow range ethoxylates market size is expected to reach USD 8.04 billion by 2028, according to a new report by Grand View Research, Inc . The market is expected to expand at a CAGR of 9.0% from 2021 to 2028 . The market growth can be attributed to the increasing use of narrow range ethoxylates as an industrial surfactant in various end-use applications, including paints and coatings, residential and commercial cleaning products, textiles, paper processing, and pesticide formulations.
Key Insights & Findings:
- In terms of revenue, commercial cleaning emerged as the largest application segment with a share of 64.9% in 2020. In the commercial cleaning application segment, healthcare, hospitality, and foodservice were the dominant end uses of narrow range ethoxylates. These segments collectively accounted for a major volume share in 2020
- Asia Pacific is expected to expand at the fastest CAGR from 2021 to 2028. The growth is attributed to the high demand for household and commercial cleaning applications
- North America accounted for the second-largest share of the global demand in 2020. The region is characterized by the presence of multinational corporations and a robust supply chain mechanism catering to end-use businesses
- The market is highly dominated by multinational companies, which have diversified distribution channels through multiple partners. Companies generally operate under long-term supply agreements in order to reduce the risk of price fluctuations and stay afloat of the acceptable gross margins
Read 170 page market research report, " Narrow Range Ethoxylates Market Size, Share & Trends Analysis Report By Application (Commercial Cleaning, Household Cleaning, Industrial Cleaning), By Region (North America, Europe, APAC, MEA), And Segment Forecasts, 2021 - 2028 '', by Grand View Research
The cost of raw materials is volatile and is expected to increase exponentially owing to various factors such as low availability and demand and supply consideration. To ensure a sustainable and continuous supply of raw materials, the manufacturers have entered long-term contracts with raw material suppliers.
Narrow range ethoxylates are sold to various end-use industries, including healthcare, household, food, and laundry . Manufacturers have entered long-term contracts with international players, thus operating as distributors and suppliers to expand their regional presence. Furthermore, several manufacturers are focusing on dealing with more than one distributor owing to price competitiveness in the market.
There is a rise in the demand for customized solutions according to the customer and end-user requirements . For instance, Sasol is one of the prominent players engaged in the bulk and custom manufacturing of narrow range ethoxylates. They provide formulations customized to specific industry needs with the highest potency available at competitive prices. Its clientele base ranges from startups to large international players involved in manufacturing agrochemicals, leather, and textile chemicals.
Grand View Research has segmented the global narrow range ethoxylates market on the basis of application and region:
- Narrow Range Ethoxylates Application Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
- Household Cleaning
- Floor
- Kitchen
- Upholstery
- Laundry
- Others
- Commercial Cleaning
- Hospitality
- Healthcare
- Food Service
- Institutional Buildings
- Laundry
- Others
- Industrial Cleaning
- Metal Degreasing
- Engine Cleaning
- Vehicle Cleaning
- Dairy
- Laundry
- Others
- Narrow Range Ethoxylates Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
- North America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Commonwealth of Independent States (CIS)
- Asia Pacific
- China
- India
- Japan
- South Korea
- Southeast Asia
- Central & South America
- Middle East & Africa
- Saudi Arabia
- South Africa
List of Key Players of Narrow Range Ethoxylates Market
- Nouryon
- Sasol Limited
- Evonik Industries
- Venus Ethoxylates
- Univar Solutions
- Pilot Chemical Co.
- Dow Chemicals
- ESTI CHEM
- Stepan Company
- Oxiteno
Check out more studies related to ethoxylates, conducted by Grand View Research:
- Ethoxylates Market – Global ethoxylates market size was valued at USD 13.2 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 4.0% from 2020 to 2027. The market is anticipated to be driven by the consumption of ethoxylates across various industries, including personal care, pharmaceutical, industrial, and household cleaning.
- Ethylene Oxide Market – Ethylene oxide is also known as oxirane which is an organic compound. It's a colorless and flammable gas. Ethylene oxide is widely used across various industries for production of solvents, detergents, adhesives, antifreeze, textiles, and pharmaceuticals.
- Alcohol Ethoxylates Market – Global alcohol ethoxylates market size was estimated at USD 5.18 Billion in 2016. Growing demand for the product for high grade industrial & institutional and household cleaners is expected to drive the market growth over the forecast period.
Browse through Grand View Research's coverage of the Global Organic Chemicals Industry .
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
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SOURCE Grand View Research, Inc.
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