Surfactants Market Showing Rapid Expansion, Latest Developments and Detail Analysis 2023-2032
Allied Market Research published a report, titled, “Surfactants Market By Feedstock (Bio-Based Surfactants, Biosurfactants, and Synthetic Surfactants), Type (Cationic Surfactants, Anionic Surfactants, Non-Ionic Surfactants, and Amphoteric Surfactants), End Use (Household Detergents, Personal Care, Institutional And Industrial Cleaners, Food Processing, Oilfield Chemicals, Agricultural Chemicals, Textiles, Plastics, Paints And Coatings, Adhesives, and Others): Global Opportunity Analysis And Industry Forecast, 2023-2032". According to the report, the surfactants market was valued at $37.6 billion in 2022 and is estimated to reach $59.5 billion by 2032, exhibiting a CAGR of 4.7% from 2023 to 2032.
Prime determinants of growth
The global surfactants market is driven by rise in demand for eco-friendly surfactants. Changing consumer preferences, such as increase in demand for eco-friendly and sustainable products, influence the formulation of products that use green or bio-based surfactants. Consumers are increasingly conscious of environmental impact. This has led to surge in demand for eco-friendly surfactants derived from natural sources or made using sustainable processes.
Furthermore, tailored products that suit individual needs, such as custom shampoos or skincare solutions, are becoming more popular. Surfactants are essential for creating these customized formulations. This factor is expected to fuel the growth of the surfactants market during the forecast period. However, growing environmental concerns associated with the use of surfactants may restrain the growth of the surfactants market.
The synthetic surfactants segment to maintain its lead position during the forecast period
By feedstock, the synthetic surfactants segment accounted for the largest share in 2022, contributing to three-fifth of the global surfactants market revenue. Synthetic surfactants are integral components of many cleaning products, including laundry detergents, dishwashing liquids, surface cleaners, and personal care items like shampoos and body washes. As household and personal hygiene practices continue to evolve and expand, the demand for such products rises. Moreover, the industrial and institutional cleaning sector, including cleaning services, healthcare facilities, and food processing industries, relies heavily on synthetic surfactants to maintain cleanliness and hygiene.
The growth of these sectors contributes to increase in demand for surfactants. In addition, synthetic surfactants are used in agriculture to improve the effectiveness of pesticides, herbicides, and other agricultural chemicals. As global agricultural production increases to meet growing food demands, so does the use of surfactants in these applications. These factors are expected to increase sales of synthetic surfactants among various end use sectors; thus, fueling the market growth.
The anionic surfactants segment to maintain its lead position during the forecast period
By type, the anionic surfactants segment accounted for the largest share in 2022, contributing to more than four-ninth of the global surfactants market revenue. Amphoteric surfactants are known for their mild and non-irritating nature, making them suitable for personal care and cosmetic products, particularly for sensitive skin and baby care. With consumers increasingly seeking gentle and hypoallergenic products, the demand for these surfactants in such applications is on the rise. Furthermore, the personal care and cosmetics industry is one of the largest consumers of amphoteric surfactants. As this industry continues to innovate and expand, there is a growing demand for surfactants that can be used in a wide range of products, from shampoos and conditioners to facial cleansers and body washes. These factors may lead the surfactants market for amphoteric surfactants to witness a significant growth.
The household detergents segment to maintain its lead position during the forecast period
By end use, the household detergents segment accounted for the largest share in 2022, contributing to half of the global surfactants market revenue. There is a growing demand for eco-friendly and sustainable cleaning products. Many consumers are seeking household detergents with biodegradable ingredients, reduced packaging waste, and cruelty-free testing practices. Moreover, consumers are increasingly concerned about the ingredients used in household detergents, with a focus on avoiding harsh chemicals and allergens. This has led to rise in demand for milder and hypoallergenic formulations. In addition, consumers are concerned about sanitizing and disinfecting their homes to prevent the spread of germs and viruses. These factors lead to the surfactants market growth for household detergents.
Asia-Pacific to maintain its dominance by 2032
Region-wise, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for more than three-seventh of the global surfactants market and is projected to register the highest CAGR of 5.1% during the forecast period. The Asia-Pacific region is a major hub for the surfactants market, with significant growth potential. Growing population, urbanization, and industrialization contribute to increase in demand for surfactants across various sectors in the region. Furthermore, rapid industrialization and urbanization have resulted in a growing need for cleaning products, personal care items, and industrial chemicals, all of which rely on surfactants.
Consumer preferences in the Asia-Pacific region are diverse. While some consumers prioritize cost-effectiveness, others seek eco-friendly and natural products, resulting in a variety of surfactant formulations and products. In addition, R&D in the region lead to the creation of advanced surfactant formulations with improved performance characteristics, as well as a focus on sustainability. These factors are anticipated to lead the surfactants market in the Asia-Pacific region to witness significant growth.
Leading Market Players: -
BASF SE
CLARIANT AG.
CRODA INTERNATIONAL PLC
EVONIK INDUSTRIES AG
HUNTSMAN INTERNATIONAL LLC
KAO CORPORATION
LONZA GROUP AG
NOURYON
STEPAN COMPANY
DOW INC.
The report provides a detailed analysis of these key players in the global surfactants market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
𝐎𝐛𝐭𝐚𝐢𝐧 𝐑𝐞𝐩𝐨𝐫𝐭 𝐃𝐞𝐭𝐚𝐢𝐥𝐬: https://www.alliedmarketresearch.com/surfactant-market