Overview and Scope
Chemical auxiliary agents are substances utilized in the chemical industry to enhance or modify the final product’s physical properties, such as its color, texture, or viscosity. They are not the main components of chemical reactions or formulations but play a supporting role in improving efficiency, stability, and other desired properties.
Sizing and Forecast
The chemical auxiliary agents market size has grown strongly in recent years. It will grow from $28.7 billion in 2023 to $31.38 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth in the historic period can be attributed to industrialization, growth in manufacturing sectors, rising demand for water treatment chemicals, expanding agricultural activities, globalization of chemical markets.
The chemical auxiliary agents market size is expected to see strong growth in the next few years. It will grow to $43.11 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to growing awareness of environmental sustainability, rising demand for specialty chemicals, expansion of the food and beverage industry, increased use of chemical auxiliaries in the pharmaceutical sector, development of innovative materials. Major trends in the forecast period include increasing focus on green chemistry, demand for bio-based and sustainable chemical auxiliaries, adoption of smart manufacturing processes, emergence of personalized chemical solutions, integration of digital technologies in chemical production.
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Segmentation & Regional Insights
The chemical auxiliary agents market covered in this report is segmented –
1) By Agent: Dispersing Agents, Separation Agents, Solvents
2) By Application: Technical Textiles, Home Furnishings, Apparel
3) By Industry: Construction, Paint, Paper, Textile, Other Industries
Asia-Pacific was the largest region in the chemical auxiliary agents market in 2023. The regions covered in the chemical auxiliary agents market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The rising demand for personal care products is expected to propel the growth of the chemical auxiliary agent market going forward. A personal care product refers to a group of self-care items used for personal hygiene, cleaning, and grooming. Chemical auxiliary agents are added to personal care products to prevent the growth of microorganisms and increase the product’s shelf life. For instance, in February 2023, according to L’Oréal S.A., a France-based personal care company, sales of consumer products increased from 11.8% to 14.6% and active cosmetics from 28.0% to 30.6% from the 4th quarter of 2022 to December 31, 2022. Further, the Dermatological Beauty Division closed the year with an exceptional growth rate of +21.9% like-for-like and +30.6% based on reported numbers. Therefore, the rising demand for personal care products is driving the growth of the chemical auxiliary agent market.
Key Industry Players
Major companies operating in the chemical auxiliary agents market report are BASF SE, The Dow Chemical Company, Sumitomo Chemical Co. Ltd., Evonik Industries AG, Covestro AG, Solvay SA, Arkema SA, Akzo Nobel N.V., Kao Corporation, Eastman Chemical Company, Lanxess AG, Huntsman International LLC, Clariant AG, Lonza Group AG, Lubrizol Corporation, Wacker Chemie AG, Croda International PLC, Ashland Global Holdings Inc., Innospec Inc., Archroma Corporation, Pidilite Industries Limited, Kemin Industries Inc, Fineotex Chemical Ltd., Zschimmer & Schwarz Inc., Camex Ltd., Ethox Chemicals LLC, Fibro Chem LLC, Mitra Auxillary Chemicals Pvt.Ltd., SpringSeal Inc., Crucible Chemical Company.
The chemical auxiliary agents market report table of contents includes:
1. Executive Summary
2. Chemical Auxiliary Agents Market Characteristics
3. Chemical Auxiliary Agents Market Trends And Strategies
4. Chemical Auxiliary Agents Market – Macro Economic Scenario
5. Global Chemical Auxiliary Agents Market Size and Growth
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31. Global Chemical Auxiliary Agents Market Competitive Benchmarking
32. Global Chemical Auxiliary Agents Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Fat Replacers Market
34. Chemical Auxiliary Agents Market Future Outlook and Potential Analysis
35. Appendix
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