Surfactants are organic compounds that reduce the surface tension of the liquid. It helps in increasing the wetting properties of the liquid which is useful to separate dirt, oil, and stains from various surfaces. They are majorly used in soaps, detergents, cosmetics, personal care products (hair care and skin care products), textile processing, industrial cleaning, and others as important ingredients. Furthermore, their applications in several end-use industries such as petroleum, agrochemicals, pharmaceuticals, and cosmetics will drive the global surfactants market.
Rising Demand for Personal Care and Household Products Anticipated to Drive the Demand for Surfactants. They have a major application in personal care and household products as they are one of the important ingredients required in soaps, detergents, hair care, skincare, gels, creams, and other cosmetic products. The development in the end-user industries such as household and personal care products in both developed and developing economies boosts the growth of the market. The high demand for personal care and household products among customers across the globe is driving the industry. Low raw material prices along and lesser production costs are projected to help penetration over the forecast period.
In addition, increased awareness among consumers towards using eco-friendly products in matured economies including Europe and the USA is anticipated to drive the demand of bio surfactants. Also, various regulations imposed by several economies like the European Union have propelled industries to invest in bio-based technologies that are environment-friendly.
“Global Surfactants Market was Valued at US$ 24.367 Bn in 2018 And it is Expected to Reach More than US$ 37.158 Bn by 2027, Likely to Grow with the CAGR of 4.8% During the Forecast Period.”
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Anionic surfactant emerged as the largest product segment accounting for more than 38%of the overall share in 2018. Mounting demand for linear alkylbenzene in cleaners and detergents due to advantageous characteristics of the product is estimated to boost the growth.
Anionic surfactant market is witnessing large demand driven by the parallel growth of end-user industries like home care, personal care, building and construction, pharmaceuticals and many more. The personal care and home care industry in recent years has witnessed tremendous growth owing to the rising population, increasing per capita income of people and rising standard of living in the Asia-Pacific region.
Personal care is projected to the highest growth over the forecast period. In terms of value, the segment is expected to grow at an estimated CAGR of 5.4% during the forecast period. The increase in global demand for personal care products such as shampoos, Haircare, skincare lotions, baby care, and other aesthetics provides growth opportunities for the surfactants market. The demand for high-quality products in the personal care industry is attributed to driving the surfactants market.
Asia-Pacific is the largest market for surfactants owing to the rising demand from household and industrial applications along with increasing awareness regarding bio-based products. The APAC market was valued at US$ 8,100 million in 2018 and is also predicted to be the fastest-growing regional market over the forecast period. The surfactant market will be driven by the demand from the rising population in countries such as India, China, Indonesia, and others. Furthermore, the retail industry is also getting organized in these countries, and rising disposable income will boost the demand for better quality consumer goods.
The global surfactants market is highly fragmented, with the top five participants occupying over 30% of the overall market share. Some of the key players in the global surfactants market are Kao Corporation Clariant International Ltd., Huntsman Corp., Archer Daniels Midland Co., Evonik Industries AG, Akzo Nobel N.V., P&G Chemicals, Rhodia, Clariant, Stepan Company, Croda International, Lonza Group Ltd., Galaxy Surfactants Ltd., BASF, and The Dow Chemical Co.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
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