Surfactants market projected to reach 39.86 billion USD by 2021 according to new research report
The growth of the surfactants market is primarily triggered by the rising demand from the personal care segment. Surfactants are widely used in detergents, cleaners, soaps, and shampoos other related products for removing dirt, oil, stains, and various unwanted foreign particles from the surface they are applied to.
The market size of surfactants is projected to reach USD 39.86 Billion by 2021, registering a CAGR of 5.4% between 2016 and 2021.
The growth of the surfactants market is triggered by the rising demand from the personal care industry. Surfactants are widely used for industrial and household purposes.
The increasing awareness for environment-friendly products is driving the market of bio-based surfactants.
Synthetic surfactants to account for major share of the surfactants market
The surfactants market is segmented on the basis of substrate into synthetic and bio-based surfactants. Synthetic surfactants account for a major share of the surfactants market as it is extensively used in various industrial and commercial products such as cleaners, detergents, soaps, shampoos, and others.
However, the demand for bio-based surfactants is growing owing to the increased inclination of consumers towards products made from natural feedstocks.
Detergents segment is the largest applications segment of surfactants
The detergents segment is the dominating application segment of the surfactants market. Detergents are widely used for industrial and household purposes.
With increasing demand for more efficient and advanced detergents, the demand for surfactants from the detergents industry has increased. With increasing competition in this application segment, companies are continuously focusing on developing better and advanced range of detergents.
Asia-Pacific to be the largest market during the forecast period
Asia-Pacific is the largest market of surfactants, both in terms of volume and value. This is due to the presence of large consumer base and growing economies in this region.
The large consumer base results in high demand for personal care and household products, which are two important application segments of the surfactants. With the presence of the growing economies in this region such as China and India, the demand for surfactants in various industries such as textiles, pulp & paper, chemicals, agriculture, and others has increased.
Currently, the global surfactants market is dominated by various players, such as Akzo Nobel N.V. (Netherlands), Air Products and Chemicals, Inc.
(U.S.), BASF SE (Germany), Clariant AG (Switzerland), and E. I. du Pont de Nemours and Company (U.S.), among others.
The leading players mainly concentrate on new product development to enhance their market reach and make innovative products available to a large number of customers.
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Source: Excerpts from various articles.