Global Alkoxylates Market is valued to grow at a healthy CAGR over the forecast period 2020–2026. Growing demand for low foam cleaners and detergents, increasing environment-conscious among consumers, easy availability and diverse application of alkoxylates in various sectors are key factors augmenting the market growth.
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The Alkoxylates chemicals are produced by various compounds including alcohol, amines, fatty acids. These compounds undergo a process known as alkoxylation to ultimately, manufacture cleaning agents, detergents, emulsifying agents, wetting agents, etc. Due to environ-friendly and degradable nature of alchohol alkoxylates, these chemicals are most commonly used.
Global Alkoxylates promises to register steady growth due to ease of availability of chemicals as well as its extensive applications. Increasingly, biodegradable raw materials are used in the production of Alkoxylates, which is making the alkoxylates market more sustainable in the long run.
Market Trends, Drivers, Restraints, and Opportunities:
- Demand for alkoxylates is expected to increase due to its extensive usage in diverse industries.
- Alkoxylates are extensively used for cleaning purposes in various industries and households. Governments around the world are imposing stringent laws against the use of certain chemicals for the cleaning purpose due to its adverse impact on the environment. This, in turn, is expected to fuel the growth of the market.
- Fluctuating raw material prices and high energy costs are major factors hampering the growth of the market.
- Increasing consumer inclination toward biodegradable products is a projected to create major opportunities in the market.