Sodium Lauryl Sulfate Market Expected to Grow at a CAGR of 5% During 2019-2029 - Persistence Market Research

NEW YORK, June 12, 2019 /PRNewswire/ --  Persistence Market Research recently published a market research study on the sodium lauryl sulphate market, titled, 'Sodium Lauryl Sulfate Market – Global Industry Analysis 2014-2018 and Forecast 2019-2029". The research study shows the global sodium lauryl sulfate market outlook for the next ten years, along with the compound annual growth rate. The global sodium lauryl sulfate market accounted for around US$ 800.0 Mn by the end of FY 2018, and is expected to grow at a CAGR of around 5.0% during 2019-2029. Among the end-use segments of sodium lauryl sulfate, the personal care products segment is estimated to grow at a significant growth rate, due to increased awareness towards personal hygiene and changing lifestyles. 

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The demand for sodium lauryl sulfate is expected to be driven primarily by population growth, urbanization, increase in disposable income, and the supplementary requirements for personal care products. Increasing awareness about personal care and rising disposable income are crucial factors for the growth of the global sodium lauryl sulfate market. Consumers of personal care products are finding quick and easy products to use, such as paper soaps, foam pumps, travel size face washes, etc., which are effective and have high efficacy. Thereby, the growing demand for foam-based cosmetics is expected to fuel the global sodium lauryl sulfate over the forecast period. 

The solid form of sodium lauryl sulfate has high content of active form. As such, the solid form sodium lauryl sulfate segment has captured a significant market share in the global sodium lauryl sulfate market. In terms of geographical analysis, East Asia is anticipated to be a significant platform for the sodium lauryl sulfate market, and is estimated to grow at a CAGR of nearly 6% during the forecast period. In terms of end use, the personal care segment was valued around US$ 800 Mn by the end of 2018, and anticipated to represent a total incremental $ opportunity nearly US$ 500.0 Mn between 2019 and 2029. 

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Regional Market Projections

Geographically, East Asia and South Asia are picking up in the global sodium lauryl sulfate market, owing to increasing disposable income and growing industrial infrastructure. The demand for sodium lauryl sulfate is majorly driven by the spending on cosmetics and other consumer goods, which implicitly depends upon the growth in per capita cosmetic spending and changing lifestyles, driven by global GDP growth. Further, steady economic growth in developing countries such as China, India, Brazil, and ASEAN countries, and rising per capita disposable income and expenditure in these regions, are the major factors that are driving the growth of the sodium lauryl sulfate market.

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Furthermore, in developed regions such as North America and Europe, the adoption of laundry operations and usage of washing machines has widely increased. This share is less in developing regions such as Asia Pacific. For instance, in 2017, between 81% and 85% of laundry tasks were carried out using automated machines. Customers are inclined to enhance laundry operations. Owing to this, the demand for laundry products such as detergents, soaps, etc., is significantly high in these regions. Thus, the demand for sodium lauryl sulfate continues to grow at a healthy rate.

Vendor Insights

The global sodium lauryl sulfate market highlights some of the top players operating in the global sodium lauryl sulfate market, such as BASF SE, Solvay SA, Clariant AG, DowDuPont Inc., Croda International Plc, Stepan Company, Galaxy Surfactants Ltd, Godrej Industries Limited, Kao Corporation, Huntsman International LLC, Clariant AG, Lubrizol Corporation, Sasol Limited, New Japan Chemical Co., Ltd., Aarti Industries Limited, Sinopec Jinling Petrochemical Co., Ltd, and Reliable Biopharmaceutical LLC, among others.

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