GLOBAL SURFACTANTS INDUSTRY OUTLOOK
The global surfactants market size was estimated at USD 42.5 billion and is expected to reach USD 56.3 billion by 2026, growing at a CAGR of 4.80% during the forecast period. APAC dominated the surfactants market share with 35.30% in 2020 and is expected to grow in the coming years.
Anionic surfactants are witnessing high demand in the global market. Anionic is the most widely used surfactant, contributing 46.31% by value, and are most widely used in cleaning product such as laundering, dishwashing liquids, and shampoo. Increasing demand for agrochemicals and the surge in construction activities are contributing to significant growth for the market in the APAC region. Strong economic growth, demand for green housing, and substantial investment by the federal and state government to boost residential buildings significantly contribute to the growth of the construction chemical and paints and coating in the US, which will drive the demand for surfactants. In recent years, amphoteric surfactants are experiencing rapid development with the rising demand by the end-user.
- APAC has become the largest producer and consumer of surface-active agents. APAC dominated the surfactants market share with 35.30% in 2020 and is expected to grow in the coming years.
- The recent innovation in BB/CC creams is expected to boost the growth of the surfactants market in the US. The US premium BB/CC creams segment to grow at a CAGR of 17% in 2020.
- In Latin America, Brazil is the biggest revenue contributor to the surfactants industry. The Latin American region is likely to grow at a CAGR of 4.79% during the forecast period.
- Personal care ingredients are another major application of surfactants and are expected to reach 20.79% shares during the projected period.
MARKET GROWTH & TRENDS
- The growing awareness regarding hygiene and to look smart and beautiful is increasing the demand for cosmetics and toiletries, which is boosting the demand for surfactants.
- Rising consumer awareness of the environmental hazards from chemical surfactants is leading to the increasing adoption of biosurfactants. Players must innovate environment-friendly products to attract consumers.
- Agrochemical vendors are increasing their focus on innovation and spending a sizeable proportion of their revenue towards the development of crop protection.
- In recent years, with the rise of the food & beverage industry, the usage of surfactants is playing a key role in the creation and stabilization of the structure in food.
- The bio based surfactants market is heavily driven by a technology push, and the brand owners are observing technology development to bring the market before taking any major product development decisions.
- Over a year, there is a paradigm shift in the surfactants industry. Low labor costs, low cost of production, raw material prices, and linnet government norms have attracted foreign players to set up their manufacturing plants in India and China.
MARKET SHARE & SEGMENTS
- The surge in growth for personal care products and the growing demand for pharmaceutical products are soaring the demand for anionic surfactants.
- Surfactants are ubiquitous and one of the vital components of agrochemicals. India, China, Japan, Germany, France, and the UK are the major market for agrochemicals.
- The oilfield chemical in the surfactants market is expected to reach USD 2,978.29 million by 2026.
- The increasing disposable incomes and growing standard of living create strong demand for surfactants in the textile industry.
APAC is the leading market for surfactants and is anticipated to grow significantly during the forecast period.
APAC is the largest market for surfactants. Rapid urbanization, rising disposable income, and growing industrialization in food and agriculture are creating a demand for surfactants in APAC. China, India, Japan, and Singapore are the major market for investment in the past couple of years and will continue to be significant. In 2020, China held the largest APAC surfactants market, with a share of 55.80%. Players are shifting their production base to APAC due to the stringent regulations & norms in Europe and North America. Increasing investment in several projects such as 5G networks, artificial intelligence, IoT, and data centers are some of the factors contributing to the rapid growth of the construction industry in China, leading to the high demand for surfactants. Recent changes occurred due to the pandemic, especially in India, the launch of the campaign such as “Vocal for Local” is expected to add momentum to the emergence of India as a leading region. The geographic market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The prominent players in the market focus on developing innovative products to support sustainable development and expanding their product portfolio by making considerable investments in R&D. Mergers and acquisitions, benefiting the companies in purchasing raw materials, distribution, and R&D and it is largely driven by amalgamation. Vendors are delivering specialty chemicals for multiple end-user industrial applications to overcome the competition. The growth of the market in China is bringing strength to the Chinese chemical industry, thus driving the overall growth of the surfactant industry. Vendors are competing to achieve a high share and presence in the global industry.
The global surfactants market research report includes in-depth coverage of the industry analysis with revenue and forecast insights for the following segments:
- Cationic Surfactants
- Household Detergents
- Personal Care
- Industrial & Institutional Cleaner
- Food Processing
- Oilfield Chemicals
- Agricultural Chemicals
- Construction Chemicals
- Pulp & Paper
- North America
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa