Given the increasing commercial value of wetting agent in various industries, manufacturers are finding the need to not just bring innovation in new products but also extend their geographical reach for business expansion and development.
Introduction of New Products to Strengthen Capabilities of Fulfilling Changing Needs
Need for better wetting performance and quicker wetting has become a major requirement for customers. Moreover, the increasing demand for odorless surfactants has been fueling innovations in the wetting agent market. With the transforming needs of the consumers, the wetting agent providers are finding the need to increasingly transform their product offerings to ensure that they can improve the way they customer’s needs are taken care of. For instance, the globally recognized chemical company, SABIC added the innovative non-iconic surfactant to its leading portfolio of fluid products. The product is an effective detergent, emulsifier, and wetting agent finding considerable application in home care and the textile industry.
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Furthermore, the wetting agent is also being used as a base in new products providing key prospects for the manufacturers in the wetting agent market. For instance, the Profounda, Inc. launched its new lubricating drops, which are the wetting agent based nasal moisturizers. Such differentiating wetting agent applications are expected to offer greater avenues of expansion for wetting agent manufacturers.
Leading Economies to Illustrate Production Opportunities for the Future
While the market is analyzed for key regions, owing to the increasing production facilities in regions such as Europe and North America, the production of wetting agent in these regions can see effective opportunities owing to major players in the wetting agent market finding production scope in these regions.
Evonik Industries AG, another wetting agent market player has been showcasing significant growth in the chemical sector which could strengthen its hold in the wetting agent market too.
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Major manufacturers Showcasing Considerable Developments: Steady Future Opportunities Could be Expected
The key player in the wetting agent market include ALASIA Chemicals, Hexion Inc., AkzoNobel N.V., The DOW Chemical Company, Evonik Industries AG, BASF SE, Arkema SA, Harmony Additive Pvt. Ltd, Huntsman Corporation, Mani Agro Chemicals, Ashland Inc., and BYK-Chemie GmbH. Investment and expansion strategies have been a key aspect for the companies as they modify their business models to cater to the transforming and fluctuating market. Companies are seen investing in flourishing segments and regions to ensure fruitful business growth.
- Huntsman Corporation, a wetting agent provider was seen expanding its business in Saud Arabia, with a Diglycolamine agent joint venture with Zamil Group. Their diglycolamine agent can help produce amine salts, surfactants, wetting agent and others. Such joint ventures are expected to enhance the company’s contribution in the wetting agent market with steps taken towards improving their offerings to the consumers in the market.
- New product development strategy has been a major factor that supports the wetting agent manufacturers to gain a competitive edge in the market. For instance, the BASF launched their new wetting agent Bascal HP 100 that is designed for overcoming the challenges occurred in multi-effect distillation (MED) desalination plants.
- The Dow Chemical Company has also been illustrating tremendous growth with nearly 10 percent increase in organic sales and the company has stated a considerable performance from all domains which explains a steady future for the company’s wetting agent market contribution.
Evaluation of Regions includes
- North America Market of Wetting agent (U.S., Canada)
- Latin America Wetting agent Market (Brazil, Mexico, and Rest of Latin America)
- Western Europe Market of Wetting agent (Italy, Germany, France, U.K, Nordic countries, Spain, Netherlands, Belgium, Luxembourg and Rest of Western Europe)
- Eastern Europe Market of Wetting agent (Russia Poland, and Rest of Eastern Europe)
- Asia Pacific Wetting agent Market (China, ASEAN, India, Australia & New Zealand)
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