The report “Surfactants Market by Type (Anionic, Non-ionic, Cationic & Amphoteric), Application (Home Care, Personal Care, Industrial & Institutional Cleaning, Textile, Elastomers & Plastics, Agrochemicals, and Food & Beverage), and Region – Global Forecast to 2028”, size was USD 43.5 billion in 2022 and is projected to reach USD 57.8 billion by 2028, at a CAGR of 4.9% from 2023 to 2028.
Some of the prominent key players are:
· BASF SE (Germany)
· Stepan Company (US)
· Evonik Industries AG (Germany)
· Dow Inc. (US)
· Nouryon (Netherlands)
· Solvay S.A. (Belgium)
Opportunities: Growing need for bio-derived surfactants
Bio-derived surfactants are contemplated more natural friendly as compared to traditional surfactnts. Also, the mounting necessity for bio-derived surfactants grants a substantial chance for manufacturers working in the surfactants market. Moreover, many countries have authorized regulations directing the use of bio-derived surfactants due to their low toxicity and eco friendliness. This has led to an growth in demand for surfactants, which creates an opportunity for producers to tap into this growing market.
Home care is estimated to be the largest application segment of the surfactants, in terms of value, during the forecast period.
Home care, personal care, oilfield chemicals, agrochemicals, textiles, industrial & institutional cleaning and others are various market segment based on the application. Among those segments, home care is projected to hold the largest market share of surfactants, during the forecast period. The high need for surfactants in home care products is basically because they help to reduce the surface tension of water and allow it to spread more easily. Due to this the surfactants are more suitable for cleaning products in home care.
Asia Pacific is estimated to be the largest market for the surfactants market, in terms of value, during the forecast period.
Asia Pacific is projected to be the largest market for surfactants. Due to the growing population in this region, the demand for surfactants in applications such as home care, textile, personal care, agriculture, and others in increased. Moreover, rise in exports and low labour cost specially in India and China, the demand for surfactants in Asia Pacific region is increased.
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