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Albany, NY -- (SBWIRE) -- 04/20/2017 -- The market for surfactants in Asia Pacific is overcrowded with numerous players. There is no clear winner in terms of market share and each player holds a small share. Nimble and ambitious companies, among them, are focusing on product development to outsmart others. A noticeable trend in this direction has been the thrust on development of bio-based surfactants with rising clamor for safer ingredients in personal care products.
A few of the prominent names operating in the Asia Pacific market for surfactants are Archer Daniels Midland Company, the Dow Chemical Company, Akzo Nobel N.V., and Galaxy Surfactants Limited. Entry barriers for aspiring players are high in the market.
As per a research report by Transparency Market Research, the market for surfactants in Asia Pacific is slated to expand at a 5.0% CAGR to reach a value of US$6.3 bn by 2024-end from US$4.1 bn in 2015.
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China Power Asia Pacific Market on account of Robust Demand for Paints and Coatings
Depending upon the types of products, the Asia Pacific surfactants market can be segregated into cationic, non-ionic, anionic, and amphoteric. The most promising product segment of those is the non-ionic surfactants. This segment is likely to expand its market share at a healthy clip in the years to come. The TMR report predicts the non-ionic surfactants segment to attain a 34.2% share in the Asia Pacific surfactants market by 2024 on account of their increasing application as oilfield chemicals, agrochemicals, chemicals, and textiles. The cationic and amphoteric surfactants are also predicted to clock good growth by virtue of their higher purity.
Geographically, the key segments of the Asia Pacific surfactants market are South Korea, Japan, China, Indonesia, India, Malaysia, Thailand, South Korea, Vietnam, Philippines, and Australia. China, among them, accounted for a significant 45% share in the overall market in 2015 vis-à-vis volume. The robust demand for paints and coatings have driven the market in China. Japan follows in the second position by dint of being a frontrunner in the personal care industry.
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Explosive Demand for Personal Care Products Drives Market Growth
Majorly boosting the Asia Pacific surfactants market is the massive uptake of personal care products. "The diversity of personal care industry has offered the surfactants market several lucrative opportunities for growth. Increasing number of mouth wash, toothpaste, and hair care brands have been making significant usage of surfactants in their products. Furthermore, growing sales of bathing and shaving products are also expected to augment the demand for surfactants across Asia Pacific. Non-iconic, amphoteric, and cationic are the three types of surfactants that will be predominantly used in the near future," explains the analyst of the report.
Growing Concern about Beauty and Aesthetics Bodes Well for Market
Other factors slated to bolster the Asia Pacific surfactants market are rising knowledge about beauty, aesthetics, and hygiene. "Changing lifestyles, growing ability to spend, and shifting perceptions toward improving the standard of living are also expected to have a positive impact on the trajectory of the Asia Pacific surfactants market during the forecast period," adds the analyst of the report.
Acting as a roadblock to the Asia Pacific surfactants market is the increasing concerns about the use of synthetic raw materials and oleo-chemicals in cosmetics as they can cause side-effects such as irritation to the skin and eye, neurotoxicity, etc.
- Surfactants Market – Product Analysis
o Non ionic
o Others (Silicone surfactants, etc.)
- Surfactants Market – Application Analysis
o Personal Care
o Oilfield Chemicals
o Paints & Coatings
o Emulsion Polymerization
o Concrete Additives
This review is based on the findings of a TMR report, titled, "Surfactants Market (Product - Cationic, Anionic, Non-ionic, and Amphoteric; Application - Personal Care, Oilfield Chemicals, Paints & Coatings, Emulsion Polymerization, Agrochemicals, and Concrete Additives) - Asia Pacific Industry Analysis, Size, Share, Growth, Trends and Forecast 2016-2024."