Albany, NY, Jan. 29, 2016 (GLOBE NEWSWIRE) -- According to research report, the global surfactants market is expected to reach a valuation of US$28.8 billion by 2023, increasing at a 4.20% CAGR upon its 2014 value of close to US$20.3 billion.
Surfactants are substances that contain both hydrophilic and hydrophobic, i.e. water-soluble and water-insoluble (oil-soluble), components. This allows surfactants to form micelles of oils and water, breaking the surface tension between the immiscible liquids. The detergency of surfactants means that they are prime components in several personal care products as well as detergents.
The growing demand for both these types of products all over the world has propelled the global surfactants market. Personal care products are highly in demand in the expanding middle class, as the increasing disposable income of consumers allows them to splurge more on luxuries such as expensive personal care products and ensures a steady demand for personal care products in general.
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The increasing urbanization in large tracts of the world and large-scale industrialization in several countries has also led to high demand for detergents. This encompasses the demand for detergents for household as well as industrial cleaning purposes. This has also led to rising demand from the global surfactants market, since surfactants impart the much-valued degreasing property to detergents. Household detergents alone account for 50% of the global surfactants market. However, personal care products are expected to exhibit a rise in demand at a higher rate over the forecast period.
On the other hand, the strict legislation laid down in several countries to control the usage of synthetic surfactants, particularly in personal care products, is a major restraint acting on the global surfactants market. The usage of synthetic surfactants in personal care products has been linked to skin irritation, eye irritation, neurotoxicity, etc., which has led to the emergence of nontoxic synthetic surfactants as a key R&D avenue for the global surfactants industry in the coming years.
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Regionally, TMR has segmented the global surfactants market into North America, Latin America, Asia Pacific, the Middle East and Africa, and Europe, among which the Asia Pacific market for surfactants emerged as the largest in 2014 with a 35% share. The Asia Pacific surfactants market is propelled by the increasing production and consumption of surfactants in China, India, Malaysia, and Indonesia, in particular.
By product type, anionic surfactants emerged as the largest segment of the global surfactants market in 2014, accounting for more than 45% of the global market. Anionic surfactants are cheaper than most other types of surfactants and are thus used on a large scale in industrial applications. Nonionic surfactants, which are not sensitive to the hardness of water, are mainly used in personal care products and are thus expected to witness a steady rise in demand in the forecast period.
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In terms of the competitive landscape of the global surfactants market, the report examines the performance of key players such as Akzo Nobel N.V., BASF SE, Archer Daniels Midland Company, Huntsman Corporation, The Dow Chemical Company, Clariant International Ltd., Lonza Group Ltd., and Galaxy Surfactants Ltd.
The Global Surfactants Market is segmented as follows:
Surfactants Market – Product Analysis
- Others (Including silicone surfactants, bio-based surfactants, and polymeric surfactants)
Surfactants Market – Application Analysis
- Household detergents
- Personal care
- Industrial & institutional care (I&I)
- Food processing
- Oilfield chemicals
- Textile & leather
- Others (Including agriculture, mining, emulsion polymerization, paints & coatings, construction, lubricants & fuel additives, metal working, and pulp & paper)
Surfactants Market – Regional Analysis
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
Other Industry Research Reports By TMR:
- Textile Chemicals Market: http://www.transparencymarketresearch.com/textile-chemicals-market.html
- Precipitated Silica Market: http://www.transparencymarketresearch.com/precipitated-silica-market.html
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decisionmakers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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Source:Transparency Market Research