LONDON, June 21, 2016 /PRNewswire/ -- The global surfactants market is expected to reach USD 46.20 billion by 2022, according to a new report by Grand View Research, Inc. Growth of personal care industry particularly in Asia Pacific, Latin America and Middle East is expected to remain a key driving factor for the global market. Growing demand for oilfield chemicals owing increasing drilling activities for unconventional energy in the U.S. and China is also expected to have a positive influence on the market growth. Volatile raw material prices and stringent environmental regulations is expected to pose challenge to growth prospects. Increasing penetration of biosurfactants is expected to create new avenues for industry participants.
Anionic surfactant was the leading product segment with demand share exceeding 45% in 2014. The growth may be attributed to growing linear alkyl benzene (LAB) demand used for cleaning and personal care products. Amphoteric surfactants are expected to witness the highest growth of 6.0% from 2015 to 2022.
Further key findings from the report suggest:
Global surfactants market demand was 15.93 million tons in 2014 and is expected to reach 24.19 million tons by 2022, growing at a CAGR of 5.4% from 2015 to 2022.
Home care application segment accounted for more than 40% of total market in 2014. Increasing disposable income level in BRIC economies is expected to drive this segment over the forecast period. Personal care is expected to witness the highest growth of 6.3% from 2015 to 2022.
Asia Pacific emerged as the leading surfactants consumer and accounted for 32.5% of total market volume in 2014. Growing demand for personal care products and paints & coatings in China, India, Indonesia and Vietnam is expected to drive the regional growth.
Developed markets of Europe and North America are characterized by growing consumer awareness regarding benefits offered by biosurfactants. Favorable government policies coupled with stringent regulations for synthetic surfactants are expected to spur growth of biosurfactants in these regions.
Key industry participants operating in the global surfactants market include BASF, Akzo Nobel, Kao Corporation, Stepan Company, Rhodia, Clariant, Evonik Industries, Croda International and Huntsman Corporation.
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