Surfactants Market Progresses for Huge Profits During 2023
The
global market for surfactants is facing immense competition owing to
the existence of numerous global leaders in the market. With the
rising number of players, the surfactants market is expected to grow
significantly during the forecast period. Many new players are also
penetrating into the market on the account of continuous developments
in surfactants. Various innovations and new developments are
estimated to augment the growth of surfactants market globally in the
forecast period. Few of the leading players in this market
incorporate Clariant International Limited, P&G Chemicals, Evonik
industries AG, Lonza Group Limited, BASF SE, Huntsman Corp., Archer
Daniels Midland Comp., The Dow Chemical Comp., and Akzo Nobel N.V.
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The
global surfactants market is anticipated to be worth US$28.83 billion
by 2023. The market is estimated to exhibit a strong CAGR of 4.2%
during the forecast period. According to product, the global market
for surfactants is bifurcated into cationic, anionic, amphoteric,
non-ionic, and some others. As per application, the global market is
divided into food processing, personal care, leather and textile,
institutional and industrial care, household detergents, and oilfield
chemicals. Of these, the industrial segment is expected to stimulate
the growth of surfactants market globally over the coming years.
According to regions, Asia pacific is projected to account for the
majority of surfactants market share during the forecast period.
North America is also expected to hold a significant market share
from 2015 to 2023. Owing to the rising demand for surfactants
emerging from various applications, the growth of surfactants market
is predicted to boost in the upcoming years. Regions such as Latin
America and MEA are projected to grow at a promising rate in the next
coming years. The growth in these two regions is primarily attributed
to the rising demand from personal care segment and household
detergents.
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Increasing
Demand from Personal Care Sector to Augment Market Growth
The
global market for surfactants is likely to observe huge growth in the
forecast period. One of the primary factors influencing the growth of
this market is the enormous demand with respect to personal care
products. Furthermore, the rising focus on technological and new
product advancements are estimated to propel the demand for
surfactants market globally in the coming years. Also, the rising
awareness among consumers regarding hygiene and health are expected
to increase demand for personal care products and thus, uplifting the
surfactants market. Young generation which includes college and
school students, and women have become a major source of revenue in
terms of personal care products especially in Asia Pacific region.
Similarly, increasing demand for household detergents has surged the
global surfactants market.
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Strict
Government Regulations to Hamper the Market Growth
Despite
the fact that surfactants market is influencing various players to
invest in this product but at the same time, there are some factors
which may hinder the market growth. The surfactants global market is
affected by stringent government regulations with regards to
solvent-based detergents. This is expected to hamper the growth of
surfactants market globally in the forecast period. However, the
increasing preference towards green products by consumers is
estimated to open new growth opportunities for several players in the
upcoming years.
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