The global surfactants market is fragmented to a considerable degree and features several players with a significant share. Some of the leading players in the global surfactants market are BASF SE, The Dow Chemical Company, Archer Daniels Midland Company, Galaxy Surfactants Limited, Huntsman Corporation, Clariant International Ltd., Evonik Industries AG, P&G Chemicals, Lonza Group Ltd., and Akzo Nobel NV. The steady urbanization across the world is likely to ensure steady demand from several of the leading application segments of the global surfactants market, leading to the market retaining its fragmented competitive landscape in the coming years. Region-specific players could also make a significant market on the global surfactants market in the coming years, as the demand dynamics of the surfactants market are often region-specific.
According to Transparency Market Research (TMR), the global surfactants market is expected to reach a valuation of US$28.8 bn by 2023. The market is likely to exhibit a steady 4.20% CAGR between 2015 and 2023.
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Anionic Surfactants to Retain Dominance in Global Surfactants Market
The global surfactants market is bifurcated into the major segments of cationic and anionic surfactants on the basis of product type. Of these, anionic surfactants are expected to be the dominant segment in the global surfactants market in the coming years. Anionic surfactants find large-scale use in industrial detergents and cleaners, which has been a key factor in their rising demand. Nevertheless, cationic surfactants are also likely to witness steady demand over the coming years, leading to the product breakdown of the global surfactants market remaining largely unchanged over the forecast period. Non-ionic and amphoteric surfactants are likely to occupy a relatively minor position in the global surfactants market in the coming years.
Geographically, the global surfactants market is segmented into Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa. Of these, Asia Pacific is expected to retain its current position as the leading regional contributor to the global surfactants market in the coming years. The rising demand for surfactants from emerging countries such as India, China, Malaysia, Indonesia, and Thailand is a key factor driving the Asia Pacific surfactants market.
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Nevertheless, The North America surfactants market is also likely to make steady progress over the coming years. The firmly established presence of several leading players in the global surfactants industry in North America is a key factor responsible for the strong growth prospects of the region’s surfactants market. Consistent demand from the industrial sector is likely to help the North America surfactants market’s growth over the forecast period. Apart from these two leaders, Latin America and the Middle East are also likely to make a considerable contribution to the global surfactants market’s growth in the coming years thanks to the rapid urbanization in several countries in these regions.
Rising Demand for Personal Care Products Crucial for Global Surfactants Market
The global surfactants market is driven primarily by the booming global personal care products sector. Consumers across the world are becoming increasingly conscious about their appearance as well as persona hygiene, leading to rising demand for a variety of personal care products. The demand for skin care and hair care products has also been driven by the rising pollution levels across the world, which is likely to remain a key factor indirectly linked to the global surfactants market. The rapid urbanization in developing economies has also boosted the demand for household detergents, which already hold a leading share in the surfactants market in developed regions. As a result, household detergents are likely to remain the leading application segment of the global surfactants market.
On the other hand, the global surfactants market could face a significant roadblock in the form of the steady shift in regulatory frameworks. Some surfactants have been shown to have an adverse effect on human health as well as the environment, which could restrict their demand in regions with strict regulatory frameworks concerning the use of solvent-based detergents.
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