Ethoxydiglycol Market - Forecast(2023 - 2028)

Overview

Ethoxydiglycol Market size is forecast to reach $XX by 2025, after growing at a CAGR of 4.2% during 2020-2025. Ethoxydiglycol, also known as diethylene glycol monethyl ether, is a cosmetic grade solvent which is soluble in ethanol. Ethoxydiglycol is a component of wood stains for wood, for setting the twist and conditioning yarns and cloth in textile soaps, textile printing, and lacquers and is primarily used to dissolve ingredients to decrease viscosity. Due to its wide application in skin and hair care products, facial and eye makeup, personal cleanliness products, fragrances, and shaving products, ethoxydiglycol market is expected to grow during the forecast period.

Report Coverage

The report: “Ethoxydiglycol Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Ethoxydiglycol Industry.

Key Takeaways

• Increase in awareness among consumers about personal hygiene and increase in per capita spending on personal care products are anticipated to boost demand for ethoxydiglycol during the forecast period.
• The primary factor driving the cosmetic industry include growing demand from the ethnic groups for beauty products that are tailored according to their needs.
• With the growth in the purchasing power of the people especially the middle class, the demand for products like anti-ageing formulas and hair removal items has grown.

By End User - Segment Analysis

Personal care and cosmetics segment held the largest share of the ethoxydiglycol market in 2019 growing at a CAGR of 4.5% during the forecast period. Ethoxydiglycol is an odorless liquid used mainly as a superior solubilizer and efficacy booster for cosmetic active ingredients such as skincare bigshot vitamin C, self-tanning active DHA or the anti-acne gold standard, benzoyl peroxide. Other than that it can also be used in hair care products where it gives a longer-lasting and more uniform coloring. It even prevents the formation of split ends. Ethoxydiglycol is widely used for skincare product preparations where it acts as an excellent solvent and carrier. Ethoxydiglycol ensures even distribution of ingredients in the product to help it provide a better effect.

Geography - Segment Analysis

Asia Pacific dominated the ethoxydiglycol market with a share of more than 35% during the forecast period. In various countries such as China and India, high investments are being made in R&D. The health and hygiene at the workplace, household and in industries achieve the living standards and life expectancy that most people in APAC enjoy today. It nurtures wellness among people and helps family to stay healthy and avoid illness. Companies in the professional cleaning sector of the International Association for Soaps, Detergents and Maintenance Products (AISE) contribute to securing high levels of cleanliness and where appropriate disinfection in any place outside the home, helping to reduce or eliminate contact with serious and potentially fatal infection agents.

North America and Europe holds a significant share of the ethoxydiglycol market. According to Cosmetics Europe Association the cosmetic and personal care industry in Europe was valued at $93.06 billion at retail sales price in 2017. Scientists in Europe is developing products through reformulations and the adoption of traditional procedures for innovating new cosmetic products. The European Scientists are using materials at a molecular level to develop whole new generation products, not only for cosmetic products such as sun creams but also medicines, electronics, and telecoms. The European Union Cosmetics Regulation is another factor driving the market. As the adulteration and harmful chemical content are making the risk assessment high.

Drivers – Ethoxydiglycol Market

·         Rising awareness of personal well-being and grooming among consumers

Ethoxydiglycol market has observed rapid growth from the past few years as the middle-class consumers get easily attracted to the marketing of active ingredients present in the product. The other major influence resulting in the growth of personal care chemicals is the augmented purchasing power of middle-class consumers. The rise in environmental and health concerns among consumers has forced the cosmetics industry to offer eco-friendly products that do not harm the environment as well as human health.

Challenges – Ethoxydiglycol Market

·         Unstable properties of the chemicals used in personal care industry

The major drawback of ethoxydiglycol market is the unstable properties of the chemicals like active ingredients. The formulations of active ingredients are unstable. Thus they may disintegrate rapidly in certain formulations which are complex and contain many other ingredients.

Therefore, the safe and stable incorporation of these ingredients in the final product many times becomes a risky and cost-intensive process. Also, the consumer's shift towards natural ingredients may also threaten the growth of the market.

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the ethoxydiglycol market. In 2019, the market of ethoxydiglycol has been consolidated by the top five players accounting for xx% of the ethoxydiglycol market share. Major top 10 companies of ethoxydiglycol market are BASF SE, DowDuPont Inc., Thermo Fisher Scientific, Eastman Chemical Company, Merck KGaA, LyondellBasell Industries Holdings B.V., Ineos Oxide Ltd., Alzo International Inc. and Finetech Industry Limited among others.

Acquisition

• In May 2019, Solabia Group acquired Algatech Ltd., a innovative leader in the development, cultivation and commercialisation of ingredients delivered from microalgae and used by leading food supplement, food and cosmetic brands worldwide.