Nonylphenol Ethoxylate Market Size| Latest Innovation, Advance Technology, Top Companies 2022-2031
The market for nonylphenol ethoxylate is expected to grow at a CAGR of about 2% globally during the forecast period. Growing demand for the industrial cleaning agents along with other drivers are driving the market. On the flip side, stringent environmental conditions coupled with unfavorable conditions arising due to the COVID-19 outbreak are hindering the market growth.
– The Nonylphenol ethoxylate market is expected to grow during the forecast period owing to the increasing demand for industrial cleaning agents.
– Asia-Pacific region to dominate the market across the globe with the largest consumption from countries such as China and India.
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Key Market Trends
Growing Demand for the Industrial Cleaning Agents
– Nonylphenol ethoxylate is low foaming non-ionic detergent and has excellent properties such as wetting, dispersants, solubilizers, and emulsifiers.
– European Union has banned the use of nonylphenol ethoxylates in the laundry as the breakdown into the environment to nonylphenols which are toxic to aquatic and human life. The United States Environmental Protection Agency has set guidelines and allows certain concentration limits for nonylphenol ethoxylates in their products. These decisions might hinder the growth of nonylphenol ethoxylates during the forecast period.
– However, because of the excellent cleaning properties they are used in various industrial and laundry cleaning agents and are expected to drive the market for nonylphenol ethoxylates during the forecast period.
Asia-Pacific Region to Dominate the Market
– The Asia-Pacific region is expected to dominate the market for nonylphenol ethoxylate during the forecast period due to an increase in demand from countries like China and India.
– Nonylphenol ethoxylate offers excellent wetting, low- foaming, and superior cleaning properties and is suitable for all industrial and institutional cleaning activities.
– As per the Indian government, with the launch of the “Make in India” program, India is expected to become the fifth largest manufacturing country by the end of 2020 and is aiming to achieve a GDP share of about 25%. Whereas China’s industrial sector is the largest in the world and contributes about 39% of the country’s GDP. The growing industries in India and China are expected to drive the market.
– Moreover, in agriculture nonylphenol ethoxylate is used in the production of various agrochemicals. In India, agriculture has about a 14% share of the total GDP, with the government initiates, and various schemes to promote agriculture are expected to drive the market.
– As per the Ministry of Textiles annual report 2018-19, India’s textile industry contributes to 7% of industry output in value terms, 2% of India’s GDP and 15% of the country’s export earnings. Furthermore, China’s National Development and Reform Commission, stated that domestic sales of apparel and knitwear stood in China is around USD 172.4 billion for the first 11 months of 2019, which increased by 3 percent year-on-year.
– The aforementioned factors coupled with government support are contributing to the increasing demand for the nonylphenol ethoxylate market in the Asia-Pacific during the forecast period.
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