The global surfactants market is expected to witness healthy growth in the next few years. The rising investments in the research and development activities in order to introduce new sources of raw materials for manufacturing surfactants is likely to generate lucrative growth opportunities. Surfactants, also known by the name of surface active agents, are organic compounds that offer unique degreasing properties and detergency. Surfactants are used extensively as base chemicals in diverse personal care and detergents product formulations.
According to the research study, in 2014, the global market for surfactants was worth US$20.29 bn. The market is anticipated to register a healthy 4.20% CAGR between 2015 and 2023, reaching a value of US$28.83 bn by the end of 2023.
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Rising Use of Detergents to Fuel Growth of Global Surfactants Market
The growing demand for personal care products is considered to be one of the most important factors encouraging the growth of the global surfactants market in the next few years. In addition, the rising use of cleaning agents and detergents across the globe owing to the rising awareness regarding hygiene and cleanliness are some of the other factors projected to supplement market’s growth in the near future. On the contrary, strict government regulations concerning solvent-based detergents are predicted to restrict the growth of the overall market in the next few years.
On the basis of product type, the anionic segment is anticipated to lead the global surfactants market in the forecast period. The increasing use of anionic surfactants in several institutional and industrial cleaners and detergents as they are comparatively low-priced is expected to encourage of this segment in the next few years. Furthermore, the cationic segment is predicted to witness progressive growth in the forecast period. In terms of applications, the household detergents segment is expected to witness strong growth and account for a massive share in the global market. The personal care segment is likely to remain in the second position in the global surfactants market. Some of the other key applications of surfactants mining, agriculture, lubricants and fuel additives, paints and coatings, and pulp and paper.
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Asia Pacific to Remain Dominant in Global Surfactants Market
The global surfactants market has been divided on the basis of geography in order to offer a clear understanding of the overall market. The key regional segments of the global surfactants market include the Middle East and Africa, Asia Pacific, North America, Latin America, and Europe. As per the research study, Asia Pacific is expected to lead the global surfactants market and is projected to account for a key share of the overall market. A substantial contribution from India, China, Indonesia, and Malaysia is anticipated to encourage the growth of the Asia Pacific market throughout the forecast period.
Furthermore, North America is anticipated to remain in the second position throughout the forecast period. The presence of several leading manufacturing companies in this region and the rising demand for surfactants are predicted to accelerate the growth of North America market in the coming years. The demand for petrochemicals-derived surfactants is estimated to remain high in the Middle East and Africa in the next few years. On the other hand, the surfactants market in Latin America is anticipated to register a steady growth rate, particularly in the personal care and household detergents applications.
Some of the prominent players operating in the surfactants market across the globe are BASF SE, P&G Chemicals, Galaxy Surfactants Limited, The Dow Chemical Company, Lonza Group Ltd., Clariant International Ltd., Archer Daniels Midland Company, Huntsman Corporation, Evonik Industries AG, and Akzo Nobel N.V.
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