Albany, NY -- (SBWIRE) -- 11/26/2018 -- The Asia Pacific surfactants market features a markedly fragmented landscape, finds Transparency Market Research (TMR). The player ecosystem in the regional surfactants market is also fairly competitive on account of the entry of several players over the past few years in the emerging economies of the region, notably in, Japan, Thailand, and China. In addition, critical focus of incumbent players on business consolidation strategies especially by engaging in more research and development activities has raised the ante higher for new entrants in the natural surfactants market.
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Numerous leading players in the surfactants market are striving intensively to expand their product portfolio by launching new products. Companies in the natural surfactants market in Asia Pacific are also expected to put their stake in new product categories such as microbial surfactants to gain strategic edge over their peers. TMR observes that focusing on product innovations is likely to be pivotal for players to stay ahead in the Asia Pacific natural surfactants market.
Top players operating in the Asia Pacific surfactant market include the Procter & Gamble Company, Stepan Company, Clariant International Ltd., BASF SE, Galaxy Surfactants Limited, Dow Chemical Company, and Akzo Nobel N. V.
The surfactants market in Asia Pacific is projected to rise at a CAGR of 5.0% during the forecast period 2016–2024. The regional market stood at US$4.1 billion in 2015 and is estimated to reach a worth of US$6.3 billion by 2024 end.
Of the various product categories, non-ionic surfactants accounted for the major share of 30.0% in the overall Asia Pacific surfactants market in 2015. The prominence can be attributed to the extensive application to produce paints and coatings and agrochemicals, owing to a wide range of chemical properties they exhibit.
Among the various countries, China is anticipated to account for the major share in the surfactants market in Asia Pacific. The country contributed 45.0% in the regional market. This is attributed to the vast demand for natural surfactants in producing paints and coatings in the country.
Wide Range of Chemical Properties that Surface-active Agents exhibit reinforces Application in End-use Industries
The Asia Pacific surfactants market is expected to primarily driven by the thriving demand for various cleaning and detergent formulations in the cosmetics and personal care industries. The profuse application in a range of personal care products is propelling the growth of the regional natural surfactants market. Growing affinity of consumers toward aesthetics and beauty has led to the staggering rise in demand for cosmetics containing surfactants where they are primarily used as wetting, foaming, and stabilizing agent. Moreover, growing awareness about hygiene across the regional population has stoked the demand for home care products in natural surfactants market. The crucial use of surfactants for emulsion polymerization and defoaming agents stems from the unique properties these surface-active agents show.
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The expansion of Asia Pacific surfactants market is increasingly supported by the rapid improvement in the quality of the regional populations and the rise in the disposal incomes in the past few years. The rising demand in a range of useful industrial applications is also accentuating the surfactants market in Asia Pacific.
Focus on Bio-Based Products to open New Revenue Streams for Manufacturers in Surfactants Market
The Asia Pacific natural surfactants market is expected to benefit substantially from the upstream integration of players with raw material suppliers. The entry of manufacturers of emulsion polymers in the surfactants market is also expected to create lucrative avenues over the years.
However, stringent regulations pertaining to the use of chemicals that have toxic agents or ingredients has proved to be setback for chemical manufacturers in the natural surfactants market in Asia Pacific. Moreover, the need for whopping capital spending for setting of the plants may also cripple the expansion of the Asia Pacific surfactants market.