February 19, 2021
According to the research report titled ‘Global Surfactants Market Size study with COVID-19 Impact, by Type (Anionic surfactants, Non-ionic surfactants, Cationic surfactants and Amphoteric surfactants), by Application (Home Care, Personal Care, Industrial & Institutional Cleaning, Oilfield Chemicals, Food & Beverage, Agrochemicals, Textiles, Elastomers & Plastics and Others) and Regional Forecasts 2020-2027’, available with Market Study Report LLC, global surfactants market was valued at USD 40.3 billion in 2019 and is expected to reach a valuation of USD 57.3 billion by the end of the forecast period 2020-2027, registering a y-o-y growth rate of 4.5% throughout.
Soaring demand from various industries for several applications, including food & beverage, crop protection, elastomers & plastics, textile, personal care, and detergents are primarily driving global surfactants market growth.
For those unversed, surfactants or surface-active agents are the organic composite of hydrophobic and hydrophilic group and act as dispersants, emulsifiers, foaming agents, and wetting agents that form a detergent. It allows molecules to dissolve in or mix with water.
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The outbreak of COVID-19 virus has had a positive effect on surfactants demand, attributable to rising cognizance regarding hygiene and cleanliness as the contagion is a highly infectious. Although, operational and supply chain disruptions, along with lockdown imposed in key regions are hindering business development.
On the other hand, strategic alliances coupled with introduction of new products and services by major players are further augmenting worldwide surfactants industry size. Citing an instance, BASF SE, in 2019, introduced Plurafac LF RA-P, a new plastic surface rinse aid surfactant in North America, which mitigated the effects of spotting and filming on plastics used in industrial and institutional washing applications.
Speaking of the major restraints, the strict norms imposed by the government agencies are likely to leave a negative impact on industry remuneration.
Based on type, global surfactants market is divided into amphoteric surfactants, cationic surfactants, non-ionic surfactants, and anionic surfactants. As per application spectrum, the industry is bifurcated into elastomers & plastics, textiles, agrochemicals, food & beverage, oilfield chemicals, industrial & institutional cleaning, personal care, home care, and others.
Considering the regional terrain, North America currently holds a major portion of global surfactants market share, on account of growing inclination towards cost reduction in advertising and prompt adoption of new technology.
Established firms in global surfactants market sphere are KAO Corporation, Ashland Global Holdings Inc., Clariant Specialty Chemicals, Indorama Ventures Public Company Limited, The Dow Chemical Company, Solvay S.A., Stepan Company, Evonik Industries AG, Nouryon, and BASF SE.