Albany, NY -- (SBWIRE) -- 09/27/2017 -- Transparency Market Research has published a new report titled "Surfactants Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023." According to the report, the global surfactants market was valued at US$20.29 bn in 2014 and is anticipated to reach US$28.83 bn by 2023, expanding at a CAGR of 4.2% between 2015 and 2023.
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Surfactants are a class of chemical compounds that exhibit detergency and degreasing properties. These compounds readily alter surface and interfacial properties and solubilize to form 'Micelles.' Surfactants are used in a wide range of applications such as household detergents, personal care, industrial & institutional cleaners, food processing, oilfield chemicals, textile & leather, and other. Surfactants is an important component of any personal care product formulation. Hence, rapid urbanization and increasing consumer awareness about health and hygiene have boosted the demand for personal care products. Similarly, rising demand for detergents and cleaners has propelled the surfactants market, especially in Asia Pacific. Anionic surfactants are extensively used in products such as stain and odor removers, all-purpose cleaners, laundry detergents, dish washing liquids, toilet cleaning products, carpet cleaners, and glass cleaners. This segment accounted for the largest share of the global surfactants market in 2014. Stringent regulations imposed by several bodies on solvent-based detergents are estimated to be hamper market growth during the forecast period.
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In terms of volume, anionic surfactants was the largest product segment with over 45% share of the global surfactants market in 2014. The segment is projected to witness below-average growth rate owing to maturity in the market. Non-ionic surfactants is likely to be the fastest-growing segment of the global surfactants market during the forecast period between 2015 and 2023.
Household detergents was the dominant segment of the global surfactants market in 2014. It is expected to maintain its position between 2015 and 2023. The segment held more than 50% share of the global surfactants market in 2014. Personal care segment is anticipated to play a pivotal role in the growth of the global surfactants market from 2015 to 2023. Hair care and skin care are major categories of personal care products. These are estimated to boost the demand for surfactants in the personal care applications. Alkyl polyglycosides (APGs), non-ionic surfactants, is projected to be a major trend in food processing applications for emulsification, stabilization, anti-adhesives, and antimicrobials. Other key applications of surfactants include agriculture, mining, paints & coatings, lubricants & fuel additives, and pulp & paper.
The global surfactants market is fragmented in nature. The top six players constituted approximately 35% of the market share in 2014. Key manufacturers include Archer Daniels Midland Company, Akzo Nobel N.V., Galaxy Surfactants Limited, The Dow Chemical Company, BASF SE, Huntsman Corporation, Lonza Group Ltd., Evonik Industries AG, P&G Chemicals, Clariant International Ltd., Stepan Company, Kao Corporation, and Solvay S.A. (Rhodia).
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