Narrow Range Ethoxylates Market Size Accounted for USD
BEIJING, July 21, 2022 (GLOBE NEWSWIRE) — The Global Narrow Range Ethoxylates Market size accounted for USD 4,488 Million in 2021 and is estimated to reach USD 10,084 Million by 2030.
The narrow range ethoxylates market forecast that the rising concerns over infectious diseases are fueling the industry demand from 2022 to 2030. In June 2022, there was a total of 540,632,531 covid-19 cases out of which 6,331,710 people died due to the virus. Additionally, according to the World Health Organization (WHO), seasonal influenza epidemics are suspected to affect 3 to 5 million cases of serious health issues and 290 000 to 650 000 respiratory deaths per year globally.
Impact of COVID-19 on Global Narrow Range Ethoxylates Market
According to our narrow range ethoxylates industry analysis, the unending cases of COVID-19 patients in the market are expected to bolster the growth throughout the forecast timeframe. Despite the shutdown of factories and production sites around the world, there has been a substantial demand for narrow-range ethoxylates, which are widely used in surface disinfectants. Consumers’ growing fear has resulted in an increase in demand for cleaning products, contributing to market growth.
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|Market||Narrow Range Ethoxylates Market|
|Market Size 2021||USD 4,488 Million|
|Market Forecast 2030||USD 10,084 Million|
|CAGR During 2022 – 2030||9.4%|
|Analysis Period||2018 – 2030|
|Forecast Data||2022 – 2030|
|Segments Covered||By Application, And By Geography|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Dow Chemicals, ESTI CHEM, Evonik Industries, Nouryon, Oxiteno, Pilot Chemical Co., Sasol Limited, Stepan Company, Univar Solutions, and Venus Ethoxylates.|
|Report Coverage||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
|Customization Scope||10 hrs of free customization and expert consultation|
Narrow Range Ethoxylates Market Dynamics
One of the significant trends in narrow range ethoxylates market includes the rising awareness among consumers regarding hygiene standards owing to the ongoing pandemic. To reduce the virus burden, the COVID-19 pandemic has called for the increased use of disinfectants in public places, hospitals, nursing homes, transportation, wastewater treatment facilities, and even common households around the world.
The rising usage of narrow range ethoxylates in surfactants, disinfectants, and other cleaning products is anticipated to gain significant traction throughout the forecast timeframe. According to Acumen Research & Consulting, the market size for surface disinfectants is expected to reach around US$ 1.8 billion by 2027 growing at a CAGR of more than 10%. Increasing government health awareness activities, as well as a growing preference for disinfectant solutions from medical centers to keep the surface clean, are some of the major factors likely to fuel the growth of the global market.
Many players have shifted their focus to green cleaning products because of their harmful side effects on the human body. People use disinfectant sprays as one of their go-to cleaners in their homes. For example, Lysol claims to kill 99.9% of viruses, fungi, and bacteria. Although disinfectants appear to be completely safe, if they are not used properly, they can pose serious health risks. It can cause irritation of the skin and eyes, liver damage, respiratory problems, a cardiac reaction, and a variety of other health problems. Cleaning products, according to the Environmental Protection Agency (EPA), can pose a number of health and environmental risks. They could contain chemicals that cause irritation to the eyes, skin, or lungs, as well as other human health problems. Moreover, surging adoption in industrial cleaning is one of the notable aspects that is expected to drive the narrow range ethoxylates market share in the coming years.
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Worldwide Narrow Range Ethoxylates Market Segmentation
The global narrow range ethoxylates market has been segmented into application and region. The application segment is further split into commercial cleaning, (floor, laundry, kitchen, upholstery, and others), household cleaning (healthcare, hospitality, food service, laundry, institutional buildings, and others), and industrial cleaning (engine cleaning, metal degreasing, vehicle cleaning, laundry, dairy, and others).
Among these, commercial cleaning gathered a substantial amount of share in 2021. The growing number of hospitals, corporate offices, hotels, and institutional buildings all over the world has demanded extensive usage of surfactants, disinfectants, and other cleaning products.
Meanwhile, the industrial cleaning segment is anticipated to achieve the fastest growth throughout the forecast timeframe from 2022 to 2030. The rising awareness about cleaning products in manufacturing industries due to the risk of getting infected with harmful liquids, soils, and by-products has increased the sales of numerous cleaning products, thereby driving the narrow range ethoxylates market share.
Narrow Range Ethoxylates Market Regional Overview
The global narrow range ethoxylates market regional outlook is given as Asia-Pacific, North America, Europe, Latin America, and the Middle East and Africa. Asia-Pacific dominated the market with the highest shares and is expected to continue its trend throughout the forecast timeframe from 2022 to 2030. Significant growth in population in Asian countries, rising standards of living in emerging countries, increasing awareness in Asian countries for hygiene standards, rising prevalence of infectious diseases, and surge in government initiatives for cleanliness among surroundings are all supporting to the considerable market share of Asia-Pacific. China conquered the largest market share in the entire Asia-Pacific, while Japan and India are witnessing notable growth in the coming years. Meanwhile, the North America region is anticipated to register the fastest growth during the projected years, due to strict cleanliness regulations, increasing demand from commercial sector, and growing research & development activities to introduce more efficient cleaning products.
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Narrow Range Ethoxylates Market Players
Some narrow range ethoxylates companies covered globally include Dow Chemicals, ESTI CHEM, Evonik Industries, Nouryon, Oxiteno, Pilot Chemical Co., Sasol Limited, Stepan Company, Univar Solutions, and Venus Ethoxylates.
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Acumen Research and Consulting is a global provider of market intelligence and consulting services to information technology, investment, telecommunication, manufacturing, and consumer technology markets. ARC helps investment communities, IT professionals, and business executives to make fact-based decisions on technology purchases and develop firm growth strategies to sustain market competition. With the team size of 100+ Analysts and collective industry experience of more than 200 years, Acumen Research and Consulting assures to deliver a combination of industry knowledge along with global and country level expertise.
Mr. Richard Johnson
Acumen Research and Consulting
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