Surfactants Market to Observe Strong Development by 2024
The
Asia Pacific surfactants market is highly fragmented due to the
presence of several players with small shares. An assessment of the
competitive landscape by Transparency Market Research states that the
entry for new players is relatively difficult. To remain ahead of the
competition key players are expected to focus on product innovation.
Development of bio-based surfactants also remains underway as several
manufacturers are noticing the demand for safer raw materials for
personal care products. Some of the leading players in the market are
The Dow Chemical Company, Archer Daniels Midland Company, Akzo Nobel
N.V., and Galaxy Surfactants Limited.
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According
to the research report, the Asia Pacific surfactants market is
expected to be worth US$6.3 bn by the end of 2024 as compared to
US$4.1 bn in 2015. Between the forecast years of 2016 and 2024, the
global surfactants market expected to expand at a CAGR of 5.0%.
China
Emerges as Leading Nation in Asia Pacific Surfactants Market
On
the basis of product, the global surfactants market is segmented into
cationic, non ionic, anionic, and amphoteric. Of these, non ionic
surfactants segment is expected to show remarkable progress in the
coming years. By the end of 2024, the non ionic surfactants segment
is expected to acquire a share of 34.2% in the overall market. The
rising application of these surfactants in sectors such as oilfield
chemicals, chemicals, textiles, and agrochemicals are expected is
expected to drive the growth in the coming years.
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The
Asia Pacific surfactants market is segmented into countries such as
China, Thailand, Australia, Japan, Vietnam, Indonesia, Philippines,
Malaysia, South Korea, and Rest of APAC. Of these, China dominated
the overall market in 2015. The country is expected to retain its
stance in the coming years as it is slated to acquire a share of
39.4% in the Asia Pacific surfactants market by the end of 2024.
Rising
Awareness about Beauty Products in Asia Pacific Boosts Regional
Market
The
Asia Pacific surfactants market has been witnessing a rise since
couple of years due to their increasing adoption in a wide range of
personal care products. The diversity of personal care industry has
offered the surfactants market several lucrative opportunities for
growth. Increasing number of mouth wash, toothpaste, and hair care
brands have been making significant usage of surfactants in their
products. Furthermore, growing sales of bathing and shaving products
are also expected to augment the demand for surfactants across Asia
Pacific. Non-iconic, amphoteric, and cationic are the three types of
surfactants that will be predominantly used in the near future.
The
increasing awareness about beauty, aesthetics, and hygiene are also
expected to drive the growth of the Asia Pacific surfactants market
in the near future. The changing lifestyles, increasing disposable
incomes, and shifting perceptions toward improving the standard of
living are also expected to have a positive impact on the trajectory
of the Asia Pacific surfactants market during the forecast period.
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Side-effects
of Chemically-obtained Surfactants to Restrain Market Growth
Despite
the soaring demand for beauty products, the Asia Pacific surfactants
market is being restrained by the growing concerns amongst consumers
about the usage of synthetic raw materials and oleo-chemicals in
cosmetics. Surfactants manufactured using synthetic sources can lead
to side-effects such as irritation to the skin and eye, damage beyond
repair, and neurotoxicity amongst others. The introduction of organic
products and worries about irreparable damage to the skin due to the
use of surfactants are expected to hamper the growth of the Asia
Pacific surfactants market.
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