Albany, NY -- (SBWIRE) -- 07/02/2015 -- According to the report, the global sulfosuccinate market was valued at US$ 271.5 Mn in 2013 and is anticipated to reach US$ 446.2 Mn by 2023, expanding at a CAGR of 5.3% between 2015 and 2023.

Sulfosuccinates are sodium salts of monoester or diester sulfosuccinic acid. These are anionic surfactants primarily manufactured from maleic acid anhydride. Sulfosuccinates are mild cleansers and cause less irritancy to skin and eyes vis-à-vis other anionic surfactants. They possess good foaming and biodegradable properties. Additionally, sulfosuccinates offer performance properties such as solubilization, wetting, foaming, and dispersing.

There are two types of sulfosuccinates: diesters and monoesters. Diesters possess poor foaming properties. These have low solubility in water and cause irritation to eyes and skin. Thus, diesters are primarily used as wetting agents and dispersants. On the other hand, monoester sulfosuccinates are majorly used in personal care applications, as these are good foaming agents and are mild to skin and eyes.

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Sulfosuccinates are used in wide applications in various industries. These have been employed extensively in the manufacture of personal care products in the past few years. This trend is expected to continue during the forecast period. Generally, sulfosuccinates based on lauryl alcohol ethers are used in the production of mild baby shampoos. Similarly, sulfosuccinates are used in glass cleaners, floor cleaners, carpet cleaners, wall cleaners, and laundry detergents, among others. Besides cleaning formulations, sulfosuccinates are employed in applications in textiles, polymers, leather, printing, paints & coatings, and agriculture industries.

Rise in demand for specialty detergents & cleaning agents and increase in demand for personal care products is estimated to boost demand for sulfosuccinates. However, industrial shift towards bio-based surfactants is projected to hamper the sulfosuccinates market in the near future. Environmental and regulatory issues are also likely to adversely affect the demand for sulfosuccinates in the next few years. Nonetheless, increase in demand for sulfosuccinates in enhanced oil recovery operations is expected to open new avenues for the market during the forecast period.

The personal care segment is anticipated to witness the fastest growth during the forecast period, as most sulfosuccinates are good foaming agents and are mild on skin and eyes. This make them an excellent choice in personal care products. Household detergents & cleaners was the largest end-user segment in the global sulfosuccinate market in 2014 owing to population growth and increase in disposable income in Asia Pacific. Household detergents & cleaners accounted for approximately 40% of the market share in 2014.

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Asia Pacific is estimated to be the fastest growing regional market for sulfosuccinates during the forecast period. Demand for sulfosuccinate is projected to rise in economies such as China, India, Thailand, South Korea, and Indonesia in Asia Pacific. In terms of volume, Europe dominated the global sulfosuccinate market with over 35% share in 2014. Expansion in the laundry industry is the one of the major factors driving the sulfosuccinate market in the region. The sulfosuccinate market in North America is anticipated to witness below-average growth rate between 2015 and 2023. Brazil is the major consumer of sulfosuccinates in Latin America. Increase in urbanization and rise in disposable income are estimated to boost the sulfosuccinate market in the region. Economy of the Middle East & Africa is in the transition stage. The sulfosuccinate market in the region is projected to witness high growth rate in the near future. Besides this, Egypt and Saudi Arabia are the largest markets for sulfosuccinates in Middle East & Africa.

Major players operating the sulfosuccinate market include Cytec Industries Inc., The Dow Chemical Company, Stepan Company, Rhodia, Lonza, Croda International Plc, MFG Chemical Inc., and Huntsman Corporation. Strategies such as capacity expansion, mergers & acquisitions, and price hike expansion are some of the plans expected to play a key role in the sulfosuccinate market. Furthermore, innovation in order to produce bio-based sulfosuccinates is likely to be a factor predicating success in the market.

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