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
New York, Sept. 06, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Narrow Range Ethoxylates Market Size, Share & Trends Analysis Report By Application, By Region And Segment Forecasts, 2021 - 2028" - https://www.reportlinker.com/p06134862/?utm_source=GNW
Narrow Range Ethoxylates Market Growth & Trends
The global narrow range ethoxylates market size is expected to reach USD 8.04 billion by 2028. 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.
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.
Narrow Range Ethoxylates Market Report Highlights
• 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 the full report: https://www.reportlinker.com/p06134862/?utm_source=GNW
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