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How The Global Surfactant Market is Growing at a Steady Pace

How The Global Surfactant Market is Growing at a Steady Pace

by avachem, February 23, 2021

It is expected that the surfactant market will increase with a compound annual growth rate of 4.3% by 2022. One of the biggest reasons for this increase is the rising demand for bio-based products around the world, especially in the North American and European region. It is also expected that government support followed by consumer awareness towards bio-based products will foster the overall growth of the industry. 

Industry on the rise

By the end of 2023, the global surfactant market is expected to reach $28.83 billion. The Indian surfactants market itself is forecasted to grow from $1.5 billion per year to $2.5 by 2020 at a compound annual rate of 13 percent. 

According to the basis of application, the global surfactants market can be divided into personal care, household detergents, food processing, leather and textile, oilfield chemicals along with institutional and industrial care.

The detergents occupy nearly 50 percent of the total market share, while textiles makeup for 18 percent. Cosmetics, mining, and paint and coating take up 7-9 percent each. The rest of the applications make up for less than 12 percent of the market share.


Asia Pacific region is leading the race

In the Asia-Pacific region, China was the largest consumer of surfactants in 2018, and it is expected that the country will continue its dominance during the forecast period. In the past five years, the market for washing powder, soap, and synthetic detergent has grown in China at an average rate annual rate of 13.2 percent. 


India is also contributing to the surfactant market as its one of the largest producers of soaps in the world. The per capita consumption of soap in the country is over 800 grams. 

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Emerging economies like China, India, and Thailand continue to show an upward trend in terms of consumption of surfactants because of the rising disposable income of the population. Lowered labor and manufacturing costs in these countries has also led to many major industry players establishing their bases here.


Product related projections

The global anionic surfactants market was valued at USD 16.64 billion in 2018 and it is expected to reach USD 22.8 billion by 2026, growing with a compound annual compound rate of 4.08 percent.


On the other hand, nonionic surfactants will observe a comparatively smaller growth rate due to the vast availability of their substitutes which have even more advanced properties. 


In terms of value, amphoteric surfactants are predicted to have the fastest growth between 2019-2022. It is expected that the amphoteric surfactants will grow at an estimated compound annual growth rate of 5.4 percent. Its properties like conditioning, biodegradability, foam stabilization, and detergency are some of the major reasons for its steady growth. 


Every surfactant application segment is witnessing growth

The surfactant market is further categorized on the basis of applications — Industrial and institutional cleaners, elastomers and plastics, personal care, home care, food, detergents, pharmaceuticals, detergents, and textiles.

The home and personal care section is expected to witness the highest growth in the sector as compared to other segments because of the increased demand for household cleaners, detergents, and soaps.  

The personal care segment is also expected to grow with a compound annual growth rate of 5.7 percent by 2025. 

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Though, the textile application segment will witness less demand in the next five years because of the other more diverse substituents that are now easily available.

Steady growth in the coming years 

Lowered production costs and raw material prices are expected to help the penetration of the surfactant industry. Though price volatility due to rising environmental concerns of surfactants’ degradability and toxicity along with fluctuating crude oil prices will be the biggest challenges that the industry will have to deal with. The technological constraints in commercially developing bio surfactants might also prove to be a hindrance. 


In the next five years, it is predicted that the global surfactants will be ruled by the Asia Pacific region. Latin America, Middle East, and Africa are also predicted to have promising growth in the upcoming years. The growth in these regions is mainly due to the rising demand for personal care and household products. 


The increased awareness among the customers towards eco friendly products in larger and more mature economies like Europe and the USA will increase the demand of bio surfactants. There are also more advanced bio based technologies being implemented by companies in these regions to cater to the environmentally conscious customers.

Final words

The global surfactants market is majorly driven by several established industry players. Most of the surfactant companies are adopting several changes in order to be present across the supply chain. The industry has become highly competitive due to low bargaining power of the suppliers, high bargaining power of the consumers, and high investment costs.

To get ahead of the competition, companies are increasingly investing in new product development along with marketing strategies

More About AVA Chemicals:

AVA Chemicals is a globally renowned company engaged in formulation and supply of premium-grade chemicals to diverse industries such as Pharmaceutical & Lab Reagents, Agrochemicals, Home & Personal Care, Oil & Gas, Coatings, Water Treatment and many more. Over the last two decades, AVA Chemicals set-up three state-of-the-art Facilities (ISO and HALAL certified) in Badlapur, India, and a strong Clientele presence in over 40 countries.

For more information please visit www.avachemicals.com or email us at relations@avachemicals.com

Sources

https://www.mordorintelligence.com/industry-reports/surfactants-market https://socioherald.com/anionic-surfactants-market-key-regions-sales-revenue-market-share-and-growth-rate-during-forecast-period-2019-2026/243860/