The surfactants market generated around USD 29.9 billion in 2014. The regions of Asia Pacific and Latin America, due to rising disposable incomes, would drive the worldwide market in the coming years. Surfactants are used to decrease surface tension between liquids or solids & liquids in the form of detergents, frothing agents, dispersants, or emulsion agents. Various consumer sectors like petroleum cosmetics, pharmaceuticals, and agrochemicals witness wide usage of surfactants.
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Constant expansion in the aforementioned sectors is estimated to work in favour of market players. Demand for biosurfactants in emerging regions like North America and Europe is anticipated to create novel prospects for players in the surfactants market. Reasonably flexible regulatory scenario and low costs of production in India, China, Vietnam, Indonesia, Vietnam, and Thailand will steer the sales of biosurfactants in the forecast period.
The demand for surfactants would also rise owing to the latter’s ability to supply stability and viscosity to foams and emulsions. Surfactants may face inhibited growth in the form of ecological concerns with regard to toxicity and degradability of surfactants and price instabilities. The global surfactants market is divided into products, applications, and regions.
The largest product was anionic in 2014. Anionic surfactants had over 45% share that year. Nonionic surfactants can be replaced with better products that have superior features. This is why, they would experience lower growth rates. Amphoteric surfactants are anticipated to grow at around 6 % CAGR during 2015 to 2022. They will undergo higher demand in the years ahead.
Applications-wise, the surfactants market is sliced into personal care, home care, detergents or soaps, textiles, industrial & institutional cleaners, crop protection, and elastomers & plastics. Home care dominated the market in 2014 and occupied more than 40 % of the total demand. Personal care is predicted to have the maximum growth from 2015 to 2022.
Regions-wise, Asia Pacific was the biggest consumer of the surfactants market in 2014. This was due to consciousness regarding bio-based products and demand for home and personal care products in the region. Asia Pacific would also experience the maximum expansion during the forecast period. Europe and North America will undergo slower expansion due to inactive regional consumer sectors.
Information Source: Grand View Research