Market Overview The surfactants market is anticipated to register a CAGR of 4. 25% by revenue during the forecast period (2019-2024). One of the major factors driving the growth of the market is the growth of the Asia-Pacific personal care industry.
New York, Feb. 27, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Surfactants Market - Growth, Trends, and Forecast (2019 - 2024)" - https://www.reportlinker.com/p05865721/?utm_source=GNW
The expanding application base of bio-based and speciality surfactants is further expected to add to the market.
- Household soap and detergent is the largest application for surfactants in terms of volume. Surfactants are used as ingredients in a variety of products in the personal care segment, such as foaming agents, dispersants, emulsifiers, solubilizing agents, cleansers, and conditioners, among others. The personal care industry accounted for a healthy share of the global market, in 2018, thereby augmenting the growth of the market.
- Environmental issues address certain key concerns that include toxicity, biodegradability, eutrophication, and lifecycle analysis. One of the biggest challenges faced by the surfactants industry is the level of the environmental effect caused by the use of its various products, like detergents. This is likely to hinder the market growth.
- As the demand for speciality surfactants is growing rapidly in various applications, the market for speciality surfactants is projected to increase drastically during the forecast period, thus providing opportunities for innovations in application-specific products.
Key Market Trends
Increasing Demand from the Household Soap and Detergent Application
- Detergent is usually a mixture of surfactants, used mainly for the purpose of cleaning, and is available in varying dilutions. Detergents consist of alkylbenzenesulfonates, which have chemical properties similar to soap, but with higher solubility in hard water.
- Detergents are classified in terms of their ionic properties, namely, anionic, cationic, and non-ionic. The soap mentioned in the segmentation deals mainly with washing and laundry application.
- The surfactants incorporated in detergents and soaps mix with water, and attach themselves with the dirt on clothes and other cleaning surfaces. This helps reduce the surface tension and removes the dirt from the concerned surface.
- Asia-Pacific holds the dominant position in the market, and is closely followed by North America. In Asia-Pacific, China and India are two of the largest consumers.
- All the aforementioned factors are expected to drive the global market, during the forecast period.
Asia-Pacific to Dominate the Market
In Asia-Pacific, China was the largest consumer of surfactants in 2018, and the country is likely to continue its dominance during the forecast period. The market for soap, washing powder, and synthetic detergent industry in China has grown at an average annual rate of 13.2% in the past five years, due to increasing awareness about hygiene and development in liquid soap. The food processing industry is expected to expand at a lucrative rate in the Chinese surfactants market, due to the increasing population, coupled with rising regulations for healthy food. China is becoming the largest market in terms of cosmetics and skin care products, globally. Beauty sector in the country has witnessed a growth of around 5% in the past 10 years. Today, India is the one of the largest producers of soaps in the world. The per capita consumption of toilet/bathing soap in the country is around 800 grams. Around 65% of the Indian population resides in rural areas, and the increasing disposable incomes and growth in rural markets are making the consumers shift to premium products. This shift is expected to drive the market for surfactants in the country.
The surfactants market is highly fragmented, with the top five companies accounting for almost 15% of the market. Key players in the surfactants market include 3M Company, Akzo Nobel NV, Arkema, Ashland, BASF SE, Clariant, Evonik Industries AG, Reliance Industries Ltd, and Solvay, among others.
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