ALBANY, N.Y., Nov. 12, 2020 /PRNewswire/ -- The phenomenal surfactant features possessed by sodium cocoyl isethionate may invite immense growth prospects during the forecast period of 2019-2027. It is primarily used across applications in oral care, skin care, hair care, baby care, and others. This aspect may serve as a growth multiplier for the sodium cocoyl isethionate market.
Sodium cocoyl isethionate is the primary constituent in syndet bar preparation for a long period. It is a major surfactant in detergents and soaps. These products are prominently utilized for producing foams. It is also used as a substitute for sodium dodecyl sulfate. Hence, all these factors form the foundation of the growth of the sodium cocoyl isethionate market.
The escalating research and development activities across the globe regarding the use of sodium cocoyl isethionate may create tremendous growth opportunities. Various studies are in process to discover methodologies for developing mild anionic surfactants with less skin irritancy. Thus, this factor may invite great growth opportunities for the sodium cocoyl isethionate market.
The researchers at Transparency Market Research (TMR) foresee the global sodium cocoyl isethionate market to record a CAGR of more than 5 percent between 2019 and 2027. The global sodium cocoyl isethionate market was valued at US$ 140 mn in 2018.
A substantial increase in consumer expenditure on personal care products may serve as a promising growth prospect for the sodium cocoyl isethionate market. This is because of the growing purchasing power parity and a rise in disposable income across many individuals. In addition, heightening demand for anti-aging formulations from the geriatric population may invite consistent growth opportunities for the sodium cocoyl isethionate market.
The complexity level in manufacturing and processing sodium cocoyl isethionate may hamper the growth prospects to a certain extent. In addition, liquid personal care products are expected to be clear and viscous. With sodium cocoyl isethionate, it is difficult. Thus, this aspect may prove to be a vital growth dampener.
The global sodium cocoyl isethionate market can be segmented as follows:
Foundry Binders Market - The global foundry binders market was valued at US$ 3.3 Bn in 2019 and is anticipated to expand at a CAGR of ~4% during the forecast period. Based on product type, the organic segment held a prominent share of the global foundry binders market in 2019, as organic binders have high thermal stability and are cost effective. The segment is anticipated to dominate the foundry binders market in the near future. In terms of industry structure, the jobbing segment accounted for a major share of the global foundry binders market in 2019. A key advantage of the jobbing process is that it leads to product variety, as resources can be allocated to a variety of projects at the same time. Based on application, the ferrous metals segment constituted a significant share of the global foundry binders market in 2019. This can be ascribed to high demand for ferrous cast products in automotive and construction industries.
Metallic Stearates Market - In terms of value, the global metallic stearates market is anticipated to expand at a CAGR of ~5% from 2020 to 2030. Metallic stearates are used as acid scavengers, lubricants, and release agents in the plastics industry. PVC (polyvinyl chloride) is one of the oldest and widely used plastics. It is durable and light, and exhibits low permeability. It is fire resistant, and offers good insulation properties. PVC rarely absorbs water and is stable toward acid, alkali, alcohol, oil, and petrol. It is difficult to convert PVC; therefore, processing additives are needed to improve the melting viscosity and the flow properties of PVC. Metallic soaps are vital additives for PVC, as they offer excellent stabilizing and lubricating properties.
Stearates Market - The global Stearates market was valued at US$ 4,512.4 Mn in 2018 and is anticipated to expand at a CAGR of 5.5% during the forecast period. The market for stearates is driven by factors such as high demand for additives in the plastic & rubber processing industry coupled with rising demand for stearates in the building & construction industry. Stearates are used as lubricating, releasing and anti-caking agents in plastic processing. Stearates are also used as acid scavengers in plastic processing and compounding. They increase throughput and facilitate the formation of smoother and low friction surfaces. Increasing demand for stearates in pharmaceutical, personal care and textile industries across the globe is estimated to offer higher opportunities for market growth over the next few years. However, volatility in prices of raw materials coupled with strict environmental regulations is projected to hamper market growth in the near future.
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