Global Narrow-range Ethoxylate Market - Growth, Overview & Outlook
Growing demand from industries and homes for cleaning purposes and rising awareness about product hygiene are factors to drive the demand for the global narrow-range Ethoxylate market in the forecast period 2024-2028. According to TechSci Research report, “Global Narrow-Range Ethoxylate Market- By Region, Competition Forecast and Opportunities, 2018-2028”, Global Narrow-Range Ethoxylate Market is projected to grow at an impressive rate in the forecast period, 2024-2028.
Growing awareness about personal & public hygiene and health, narrow-range ethoxylates are frequently employed in residential, commercial, and industrial applications for purposes. According to the World Health Organization reports, in 2020, 78% of the world’s population lived below basic sanitation facilities. Besides these, 34% are using commercial sanitation facilities connected to sewers and are further treated.
The strong presence of substitute products and side effects on worker health impede the demand for a narrow-range Ethoxylate market. In addition, China is considered the world’s largest consumer and supplier of non-ionic products. Due to the trade war, the chemicals industry is facing trade challenges which have an adverse impact on the surfactant market and is restraining the market’s growth.
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The Global Narrow-Range Ethoxylate Market is segmented based on source and application.
Based on the source, the market is divided into natural and synthetic. The natural segment will hold the largest market share in 2022. Growing consumer sentiment toward sustainable development led to the rising demand for biodegradable and natural products. The government has made various policies that are propelling the firms to switch towards natural products with low VOCs, making the natural segment dominate the market.
Based on industrial, the market is divided into engine cleaning, vehicle cleaning, metal degreasing, laundry, dairy, and others. As per estimates, the metal degreasing segment will experience the highest market share during the forecast period. Rising number of industrial units worldwide and their growing demand for metal degreasing & cleaning the numerous specks of dirt such as soils, stains, and by-products released during the manufacturing process propelling the demand for metal degreasing in the segment to enhance the strength of metals and reduce accidents.
In February 2020, Evonik Industries AG, a German-based company that offers specialty chemicals, acquired PeroxyChem LLC for 640 million USD. It helped Evonik, gain access to new expansion possibilities through this acquisition, especially in the market for eco-friendly and biodegradable disinfectants.
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“Bolstering demand from end-users like paints and coatings, oil and gas, agrochemicals, home care, personal care, and polymer pharmaceutical for biodegradable cleaning agents are the key factor responsible for narrow-range Ethoxylate market growth. Different government policies and regulations over VOCs and toxic materials, such as National Volatile Organic Compound Emission Standards for consumer and commercial products by the US government and other policies in the different nations are creating a favorable environment for narrow-range Ethoxylate market growth till 2028,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Narrow-range Ethoxylate Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028. Segmented By Source (Natural and synthetic), By Application (Commercial, Residential, and Industrial), By Commercial (Healthcare, Food Service, Laundry, Institutional Buildings, Hospitality, and Others), By Residential (Floor, Kitchen, Laundry, Upholstery, and Others), By Industrial (Engine Cleaning, Vehicle Cleaning, Metal Degreasing, Laundry, Dairy, and Others), By Region and Competition, has evaluated the future growth potential of global narrow-range Ethoxylate market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global narrow-range Ethoxylate market.”
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