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Sulfosuccinate Market is projected to reach US$446.2 million by 2023, owing to High Demand from Personal Care Industry: Transparency Market Research

Albany, NY, Jan. 25, 2016 (GLOBE NEWSWIRE) -- According to the research report, the global sulfosuccinate market was valued at US$ 271.5 Million in 2013 and is anticipated to reach US$ 446.2 Million by 2023, expanding at a CAGR of 5.3% between 2015 and 2023.

Sulfosuccinates are similar to alkyl sulfonates and are based on the petro chemically derived maleic acid anhydride. Sulfosuccinates are sodium salts of alkyl ester of sulfosuccinic acid. Sulfosuccinate surfactants possess excellent foaming, wetting, emulsifying, and solubilizing properties. They are used in the personal care products, household detergents & cleaners, industrial cleaners, textiles, pharmaceuticals, polymers, paints & coatings, leather, printing, and agriculture.

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In terms of volume, Asia Pacific is estimated to be the fastest growing regional market for sulfosuccinates, expanding at a CAGR of 5.9% between 2015 and 2023. In terms of demand, China accounted for the major share of the sulfosuccinate market in Asia Pacific in 2014 owing to rising demand in end-use industries such as personal care, household detergents, textiles, and agrochemicals. Demand for sulfosuccinates is also high in emerging economies of India, Thailand, and South Korea. This trend is projected to continue during the forecast period.

Europe dominated the sulfosuccinate market in terms of volume and revenue in 2014. After the Eurozone crisis, Eastern Europe is gaining economic stability at a faster pace as compared to Western Europe. The latter is a mature region in the global sulfosuccinate market vis-à-vis Eastern Europe. Furthermore, increasing industrial production in Central and Eastern Europe is likely to drive the sulfosuccinate market. Countries such as France, the U.K., Spain, and Italy are major markets for sulfosuccinate; however, these countries are expected to experience below-average growth rates in the near future.

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The sulfosuccinate market in North America is anticipated to witness sluggish growth during the forecast period. The U.S. is the major consumer of sulfosuccinates in North America. Rise in aging population in North America is estimated to boost the skin care market in the region in the next few years. Busy lifestyle of people, preference of consumers for high-end crockery and glassware, and increasing awareness regarding cleanliness is likely to augment the demand for dish washing liquids in North America.

The sulfosuccinate market in Brazil is projected to expand in the next few years due to growth in end-user industries in Latin America. Several investments are anticipated in the personal care industry in the near future. This is likely to propel the demand for sulfosuccinates in Latin America. Additionally, the sulfosuccinate market in Argentina, Bolivia, and Venezuela is estimated to expand significantly during the forecast period. Egypt, Saudi Arabia, and South Africa are the major consumers of sulfosuccinates. Improvement in economic conditions in MEA coupled with rise in consumer awareness regarding skin care and hair care products is likely to drive the sulfosuccinate market in the MEA region.

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Major players in the sulfosuccinates market include Cytec Industries Inc., The Dow Chemical Company, Stepan Company, Rhodia, Lonza Group Ltd, Croda International Plc, MFG Chemical Inc., and Huntsman Corporation.

This Report Segments the Global Sulfosuccinate Market as follows:

Sulfosuccinate Market – Application Analysis

  • Dish washing liquids
  • Household detergents & cleaners
  • Industrial cleaners
  • Personal care products
  • Pharmaceuticals
  • Others (Including textiles, petroleum processing, food processing agrochemicals, etc.)

Sulfosuccinate Market – Regional Analysis

North America

  • S.
  • Rest of North America

Europe

  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe

Asia Pacific

  • China
  • India
  • ASEAN
  • Rest of Asia Pacific

Latin America

  • Brazil
  • Rest of Latin America

Middle East & Africa (MEA)

  • GCC
  • South Africa
  • Rest of MEA

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Source:Transparency Market Research