Surfactants Market Share, Industry Growth, Trends, Business Opportunities, Challenges, Growth Insights to 2027
The global surfactants market size is expected to reach USD 60,500.4 million by 2027, exhibiting a CAGR of 4.9% during the forecast period. The growing awareness about personal health and hygiene will spur lucrative growth opportunities for the market, states Fortune Business Insights, in a report, titled “Surfactants Market Size, Share & COVID-19 Impact Analysis, By Type (Anionic, Nonionic, Cationic, and Amphoteric), By Application (Home Care, Personal Care, Textile, Food & Beverages, Industrial & Institutional Cleaning, Plastics, and Others), and Regional Forecast, 2020-2027.” The market size stood at USD 44,157.4 million in 2019.
Drivers & Restraints-
Increasing Demand from Home and Personal Care Industry to Bolster Growth
The increasing demand for surfactants from various end user applications stands as a key factor propelling the surfactants market growth. This includes cosmetics, agrochemicals, petroleum, foaming agents, and others. In addition to this, they are also used as an essential ingredient in products such as haircare, skincare, lotions, skincare, and other personal care products, the increasing demand for which will bode well for the market in the forecast period.
On the contrary, the fluctuating prices of raw materials and toxicity of some surfactants may hamper the overall market growth in the coming years. Nevertheless, the increasing popularity of green and bio-based surfactant products is likely to create lucrative growth opportunities in the coming years.
Segment
The Market for Surfactants is Categorized into the following:
The global surfactants market is classified on the basis of anionic surfactants, non-ionic, amphoteric, cationic, and others. The anionic surfactants category is further grouped into phosphate esters, alkyl ether sulfates, benzyl sulfonates, and others. The non-ionic surfactants segment is further divided into ethoxylated fatty acids, alkoxylated fatty acids, and others. The amphoteric surfactants sub-segment is grouped into betaines oxides, amine oxides, and others.
Gain More Insights into the Surfactants Market Research Report: https://www.fortunebusinessinsights.com/surfactants-market-102385
Latest Driver:
Rising Demand for Home Care Products to Augment Growth
The increasing application of surfactants in homecare, textiles, and food & beverage industries will have an outstanding impact on the global market. The escalating need for home care products among the urban population will bolster the healthy growth of the market in the forthcoming years. The increasing consumer consciousness towards hygiene owing to the spread of various diseases and viruses can subsequently aid the expansion of the market. Products in homecare include sanitizers, detergents, cleaning products, shampoo, hand wash, and others. The heavy demand for such products is expected to support the development of the market. Moreover, the surging population has further boosted the demand for food & beverages, which, in turn, will augur well for the market.
Rising Emphasis on Hygiene to Boost Market Amid Coronavirus
The COVID-19 pandemic has resulted in the expansion of the household care industry because of the growing concern about cleanliness and hygiene. The surging sales of household care products will benefit the market amid COVID-19. As per the Household and Commercial Products Association (HCPA), the market value is around USD 180 billion per annum of home care products such as cleaners, and disinfectants for homes and commercial environments. Besides, the inflated demand for hand sanitizers and disinfectant sprays will have a tremendous effect on the global market during the COVID-19 pandemic.
List of the Leading Companies Profiled in the Global Surfactants Market are:
- Akzonobel N.V (Arnhem, Netherlands)
- Clariant AG (Muttenz, Switzerland)
- BASF SE (Ludwigshafen, Germany)
- Kao Corporation (Tokyo, Japan)
- Evonik Industries AG (Essen, Germany)
- Lion Corporation (Tokyo, Japan)
- Solvay (Brussels, Belgium)
- Indorama Ventures Public Company Limited (Bangkok, Thailand)
- Ashland Global Holdings Inc. (Delaware, U.S.)
- Croda International Plc (Snaith, United Kingdom)
- Stepan Company (Illinois, U.S.)
- Dow Chemical Company (Michigan, U.S)
- Other Key Players
Asia Pacific Emerged Dominant Owing to Rising Disposable Incomes
Regionally, Asia Pacific earned the largest surfactants market share with India and China as the leading nations. This is on account of the rising disposable incomes of people and their rising willingness to purchase better quality home care products. The presence of a huge population is an added factor contributing to the growth of the regional market. On the other side, the market in North America will witness notable growth in the coming years on account of the increasing demand for home and personal care end-use industries. Furthermore, the market in Latin America and the Middle East and Africa will grow in the coming years on account of the surging demand for agricultural surfactants in the respective regions.
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