As stated in our extensive report; providing insights on Key Drivers, Key Restraints, and Segments (i.e.,by Application, Type, and Region); the Global Surfactants Market accounted for USD 40.5 Billion in the year 2021.
Surfactants are organic compounds with both hydrophilic and hydrophobic ends that aid in the dissolution of oil molecules in water. They have various applications across multiple industries because of their properties such as detergence, dispersion stabilization, wettability, foam/froth formation, and emulsion. Surfactants' largest application in terms of volume is household soap and detergent. Surfactantss are utilized in several personal care products, including foaming agents, dispersants, emulsifiers, solubilizing agents, cleansers, and conditioners. The personal care industry accounted for a sizable portion of the global market, which in turn boosts the growth of the Surfactants Market.
COVID-19 has had a negative impact on the market in 2021. Due to the pandemic scenario, several countries were compelled to go into lockdown, causing individuals to reduce their use of personal automobiles, lowering lubricant and fuel consumption and, as a result, lowering demand for gasoline additives and Surfactants. However, in the current environment, there is a greater awareness of personal hygiene and clean surroundings, which has boosted demand for personal and household cleaning products, which in turn boosts the growth of the Surfactants Market.
“Key Factors Likely to Drive Growth of Surfactants Market”
One of the primary factors driving the growth of the Surfactants industry is the shift in people's lifestyles around the world. The chemical's wide range of applications and significant utilization as an ingredient in a variety of personal care products, such as dispersants, foaming agents, solubilizing agents, conditioners, emulsifiers, and cleansers, among others, accelerate the market growth. The increased use of Surfactants in pesticide formulations for crop protection, as well as increasing demand for the product due to low pricing & convenient availability of Surfactants are augmenting the positive impact on the Surfactants Market.
The market for specialty Surfactants is expected to develop dramatically over the forecast period, owing to the rapid growth of demand for specialty Surfactants in numerous applications. This will provide chances for innovation in application-specific products. Furthermore, research and development activities, thriving end-use industries, increased investment, and widespread usage of Surfactants in household detergents have a beneficial impact on the Surfactants Market.
Moreover, the rising demand for bio-based Surfactants & sustainable green Surfactants products, as well as Surfactants use in neonatal respiratory distress syndrome, provide the profit potential for the leading market players which, in turn, are anticipated to have the maximum growth in the Surfactants Market in the projected years.
Asia Pacific holds the largest share in the Surfactants Market and is expected to continue this trend in the forecast period owing to the rapidindustrialization and rising disposable income in the region.
Some of the key players in the Global Surfactants Marketinclude-Stepan Company (US), Evonik Industries AG (Germany), Solvay (Belgium), Clariant (Switzerland), Ashland Global Holdings Inc. (US), The Dow Chemical Company (US), BASF SE (Germany), Nouryon (North Holland), Indorama Ventures Public Company Limited (Thailand), Kao Corporation (Japan), Lonza (Switzerland), Croda International PLC (UK) and others.