Surfactants Market Size to Reach USD 66.7 Billion by 2032 | CAGR: 4.7% | DataHorizzon Research
Fort Collins, Colorado, Sept. 06, 2023 (GLOBE NEWSWIRE) — DataHorizzon Research Published a report titled, “Surfactants Market Size, Share, Growth, Trends, Statistics Analysis Report, By Type (Anionic, Non-ionic, Cationic, Amphoteric, And Others), By Application (Home Care, Personal Care, Oilfield Chemicals, Food & Beverage, Textiles), By Region And Segment Forecasts, 2023-2032.”
According to DataHorizzon Research, the surfactants market size was valued at USD 42.6 Billion in 2022 and is expected to have a market size of USD 66.7 Billion by 2032 with a CAGR of 4.7%. The increased usage of surfactants across several sectors is a major factor boosting the market growth. The growing demand for sustainable materials to lessen carbon emissions and environmental harm and promote the efficient use of natural resources is leading to a surge in demand for biosurfactants.
The surfactants industry is projected to rise in the forthcoming years, attributed to the growing awareness of hygiene in the post-pandemic times to prevent any occurrence of viral and infectious diseases. Moreover, an innovative approach for product development in the soaps & detergents industry is anticipated to propel the market growth in the following years.
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|Report Title||Surfactants Market|
|Market Size in 2022||USD 42.6 Billion|
|Market Size by 2032||USD 66.7 Billion|
|CAGR from 2023 to 2032||4.7%|
|Largest Market||Asia Pacific|
|Forecast Period||2023 to 2032|
|Report Scope & Coverage||Market Size, Market Estimations and Forecast, Competitor Analysis, Trends, And Growth Factors|
|By Type||Anionic, Non-ionic, Cationic, Amphoteric and Others|
|By Application||Home Care, Personal Care, Oilfield Chemicals, Food & Beverage, Textiles, Plastics And Industrial & Institutional Cleaning|
|Region||North America, Europe, Asia-Pacific, Latin America, and Middle-East & Africa.|
|Countries Covered||U.S., Canada, U.K., Germany, France, China, Japan, India, South Korea, Brazil, Mexico, UAE, Saudi Arabia, South Africa, among others.|
|Major Market Players||Akzonobel N.V, Clariant AG, BASF SE, Kao Corporation, Evonik Industries AG, Lion Corporation, Solvay, Indorama Ventures Public Company Limited, Ashland Global Holdings Inc., Croda International Plc, Stepan Company, Dow Chemical Company|
The global surfactants market has been segmented based on type, application, and region. The anionic segment accounted for a significant global market share owing to their prolonged use in industrial and household cleaning products. Home care is one of the leading segments for application, attributed to the increasing demand for surfactants.
Asia Pacific is one of the leading markets due to their prolonged use in several industries. Surfactants are essential to the textile industry and are used as wetting agents for dye powders. Therefore, the rise in demand for surfactants in the textile industry is a major factor in industry development. North America is also a growing surfactant market based on high demand in the beauty sector.
Key Developments in the Industry:
- In 2022, Evonik Industries invested around 400 million Euros to construct its state-of-the-art production bio-based production plant in Slovakia. The plant would also serve as an innovation center by partnering with Unilever. Under this venture, Evonik plans to create research and development breakthroughs as the demand for eco-friendly surfactants has grown worldwide. At the same time, the investment strengthens Evonik’s portfolio for biosurfactants.
- In 2021, BASF strategically collaborated with Allied Carbon Solutions Co Ltd (ACS) Japan, with an equity stake. The collaboration strengthens BASF’s market position and portfolio for biosurfactants. Under the expanded portfolio, BASF addresses the ever-increasing consumer and environmental sustainability needs. In another collaboration with Holiferm, a UK-based startup, BASF emphasizes sustainability and non-fossil based home and personal care applications.
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Surfactants Market Report Highlights:
- The surfactants market is projected to rise at a CAGR of 4.7% by 2032.
- The anionic segment is leading, attributing to their use in cleaning products and detergents as pesticide formulations.
- Home care is the leading segment based on application due to the surging demand for effective and eco-friendly cleaning products.
- Based on region, the surfactants market is dominated by Asia Pacific due to the rise in consumer demand for personal and home care products.
- Some of the prominent players in the surfactant industry include Akzonobel N.V, Clariant AG, BASF SE, Unilever, Reckitt Benckiser Group Plc., Procter and Gamble, Kao Corporation, Evonik Industries AG, Lion Corporation, Solvay, Indorama Ventures Public Company Limited, Ashland Global Holdings Inc., Croda International Plc, Stepan Company, and Dow Chemical Company.
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Surfactants Market Segmentation:
Surfactants Market, By Type (2023-2032)
Surfactants Market, By Application (2023-2032)
- Home Care
- Personal Care
- Oilfield Chemicals
- Food & Beverage
- Industrial & Institutional Cleaning
Surfactants Market, By Region (2023-2032)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
About DataHorizzon Research:
DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
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