The global surfactants market size is expected to reach USD 60,500.4 million by 2027, exhibiting a CAGR of 4.9% during the forecast period. The growing awareness about personal health and hygiene will spur lucrative growth opportunities for the market, states Fortune Business Insights, in a report, titled “Surfactants Market Size, Share & Industry Analysis, By Type (Anionic, Nonionic, Cationic, and Amphoteric), By Application (Home Care, Personal Care, Textile, Food & Beverages, Industrial &Institutional Cleaning, Plastics, and Others), and Geography Forecast, 2020-2027.” The market size stood at USD 44,157.4 million in 2019.
COVID -19 Impact
The whole world is battling with the novel corona virus, leaving numerous industries distraught. The authorities of several countries have initiated lockdown to prevent the spread of this deadly virus. Such plans have caused disturbances in the production and supply chain. But, with time and resolution, we will be able to combat this stern time and get back to normality. Our well-revised reports will help companies to receive in-depth information about the present scenario of every market so that you can adopt the necessary strategies accordingly.
The report on the surfactants market emphasizes:
- Wide-ranging analysis of the market
- Superior insights into the segments
- Extensive information about dominant regions
- Key information about key players
- Latest developments
- Market drivers and restraints
- Covid-19 Impact
Rising Demand for Home Care Products to Augment Growth
The increasing application of surfactants in homecare, textiles, and food & beverage industries will have an outstanding impact on the global market. The escalating need for home care products among the urban population will bolster the healthy growth of the market in the forthcoming years. The increasing consumer consciousness towards hygiene owing to the spread of various diseases and viruses can subsequently aid the expansion of the market. Products in homecare include sanitizers, detergents, cleaning products, shampoo, hand wash, and others. The heavy demand for such products is expected to support the development of the market. Moreover, the surging population has further boosted the demand for food & beverages, which, in turn, will augur well for the market.
Rising Emphasis on Hygiene to Boost Market Amid Corona virus
The COVID-19 pandemic has resulted in the expansion of the household care industry because of the growing concern about cleanliness and hygiene. The surging sales of household care products will benefit the market amid COVID-19. As per the Household and Commercial Products Association (HCPA), the market value is around USD 180 billion per annum of home care products such as cleaners, and disinfectants for homes and commercial environments. Besides, the inflateddemand for hand sanitizers and disinfectant sprays will have a tremendous effect on the global market during the COVID-19 pandemic.
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Rapid Industrialization to Bolster Growth in North America
The market in North America is expected to hold the largest share in the global market during the forecast period owing to the rapid industrialization in the region. The rising disposable income is likely to foster the healthy growth of the market in North America. The emerging manufacturers of bio-based surfactants owing to improving economic conditions will augur well for the market in the region. The significant demand for homecare and cosmetics products will have a positive effect on the market in the region. Moreover, the evolving consumer lifestyle is expected to further enhance the development of the market. Moreover, the presence of Chevron, Dow, and Formosa Plastics will further boost the production of ethylene oxide, as 23% of purified ethylene grade is used for the production of surfactants. These factors and drivers together will enable speedy development of the market.
February 2018:Croda International Plc announced the launch of an ECO range of bio-based surfactants that are a 100% renewable range of non-ionic surfactants. The product range offers a wide variety of assistance that includes emulsification, cleansing and detergency, and solubilization while also delivering stable and mild formulations.
The Report Lists the Main Companies in the Surfactants Market:
- Akzonobel N.V (Arnhem, Netherlands)
- Clariant AG (Muttenz, Switzerland)
- BASF SE (Ludwigshafen, Germany)
- Kao Corporation (Tokyo, Japan)
- Evonik Industries AG (Essen, Germany)
- Lion Corporation (Tokyo, Japan)
- Solvay (Brussels, Belgium)
- Indorama Ventures Public Company Limited (Bangkok, Thailand)
- Ashland Global Holdings Inc. (Delaware, U.S.)
- Croda International Plc (Snaith, United Kingdom)
- Stepan Company (Illinois, U.S.)
- Dow Chemical Company (Michigan, U.S)
- Other Key Players
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