India Alkoxylates Market Size Expands Steadily at CAGR of 5% to Cross Value of USD 804 Million and Volume of 131,000 Tons by 2030

Published | 28 February 2024

India Alkoxylates Market is flourishing due to the growing demand for personal care products, industrial cleaning products, and bio-based products.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the India Alkoxylates Market size by value at USD 678.12 million in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the India Alkoxylates Market size to expand at a CAGR of 5.04% reaching a value of USD 804.41 million by 2030. Alkoxylates market in India is propelled by the growing adoption of alkoxylates in various end-use industries such as detergents, personal care, pharmaceuticals, metalworking fluid & lubrication, paints & coatings, and textiles. The increasing need for detergents and various cleaning products, including soaps, face wash, body gels, and industrial cleaners, along with factors such as a burgeoning population in the country, is expected to contribute to the rising demand for alkoxylates. The surge in environmental awareness and the concerted efforts of end-use industries to foster sustainable development are further fueling the demand for biodegradable chemicals. This trend is expected to create promising growth opportunities for the alkoxylates market throughout the forecast period.

By volume, BlueWeave estimated the India Alkoxylates Market size at 109.26 thousand tons in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the India Alkoxylates Market size is projected to grow at a CAGR of 4.87% reaching the volume of 131.18 thousand tons by 2030. In recent times, particularly in the aftermath of the COVID-19 pandemic, there has been a substantial global surge in the demand for detergents and cleaning agents. Various sectors are increasingly choosing these products to ensure cleanliness in both households and industries. This heightened emphasis on cleanliness has significantly contributed to the increased demand for alkoxylates over the past few years. Also, the growing utilization of soaps and detergents in establishments such as hospitals, hotels, and public toilets has further fueled the need for these cleaning agents.

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Opportunity – Growing shift toward sustainable products

The increasing environmental awareness among consumers has propelled the popularity of products crafted from biodegradable and natural ethoxylates, attributed to their minimal or zero volatile organic compound levels. Simultaneously, a rise in consumer purchasing power for premium alkoxylate products has incentivized businesses to prioritize the production of natural and environmentally friendly goods. Additionally, ethoxylate and alkoxylate serve as commonly employed corrosion and scale inhibitors, playing a crucial role in preventing scale formation in pipelines and various drilling equipment. This surge in demand is fueled by the global escalation in energy needs, prompting increased crude oil exploration and drilling activities in countries abundant in oil resources.

Impact of Escalating Geopolitical Tensions on India Alkoxylates Market

Increasing geopolitical tensions across region can have a multifaceted impact on the India Alkoxylates Market, impacting critical facets of supply chains and market dynamics. This includes disruptions in the import and export of vital raw materials, leading to repercussions for production and pricing. In a globalized market, these tensions may instigate shifts in trade alliances and policies, potentially affecting overall market stability. Despite challenges such as heightened competition from China and a subdued export market, Indian chemical companies anticipate a margin rebound by H2 FY24. This anticipated recovery stems from increased global interest in sourcing from India, a growing prominence of specialty chemicals, and substantial capital investments by domestic chemical firms. The chemical industry, marked by strategic investments and evolving dynamics, remains resilient. The trajectory of the Alkoxylates Market hinges on India's adept response to geopolitical tensions and its efficacy in navigating global challenges.

India Alkoxylates Market

India Alkoxylates Market – By End User

By end user, the India Alkoxylates Market is divided into Agrochemicals, Paints & Coatings, Personal Care & Cosmetics Industry, Pharmaceuticals, and Oil & Gas segments. The personal care & cosmetics industry segment dominates the India Alkoxylates Market by end user. Population growth, urbanization, improved living standards, evolving lifestyles, and heightened attention to personal and beauty care industries have led to an increased demand for both natural and synthetic alkoxylates. Synthetic fatty alcohol alkoxylates, serving as moderate foaming agents, are particularly utilized in personal care product formulations. These include a range of skincare items like body soaps, lotions, face creams, perfumes, among others. This surge in demand is anticipated to significantly boost the utilization of alkoxylates in the cosmetics industry, aligning with the growing emphasis on ethoxylates in the realm of personal care and beauty products.

India Alkoxylates Market – By Region

Geographically, the India Alkoxylates Market is divided into North India, South India, East India, and West India regions. West India holds the highest market share and is expected to maintain its dominance during the forecast period. In India, major western states, such as Gujarat, Rajasthan, and Maharashtra have emerged as key consumers, primarily attributed to the concentration of leading manufacturers in the region and the strategic presence of ports. This trend positions the West India to maintain its market dominance, and it is projected to continue leading the country’s Alkoxylates Market during the forecast period.

Competitive Landscape

The India Alkoxylates Market is fragmented, with numerous players serving the market. The key players dominating the India Alkoxylates Market include Esteem Industries Pvt Ltd, Venus Ethoxyethers Pvt Ltd, Perstorp Chemicals India Private Limited, Innospec Limited, Stepan India Pvt Ltd, Lambarti India Private Limited, Milliken, Dyna Glycols Pvt. Ltd., INEOS Styrolution India Limited, and BASF SE. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisitions to expand their customer reach and gain a competitive edge in the overall market.

Don’t miss the business opportunity of the India Alkoxylates Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The report's in-depth analysis provides information about growth potential, upcoming trends, and the India Alkoxylates Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the India Alkoxylates Market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.

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