In terms of value, the surfactants industry size is estimated to grow from USD 43.5 billion in 2022 to USD 57.8 billion by 2028, at a CAGR of 4.9%. As the overall world’s population is increasing the demand from the personal care industry, demand from various applications, and the demand from end-use industries for cleaning applications are increased. These factors have all impacted to the global expansion of the surfactants market.
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Based on type, the surfactants market is segmented into anionic surfactants, cationic surfactants, non-ionic surfactants, and amphoteric surfactants. The anionic surfactants segment accounted for the largest market share, in terms of both value and volume, in 2022. Due to their easy availability, wide range of applications and low cost based surfactants. Also, they are extensively used in cleaning and related products, such as detergents, soaps, cleaners, shampoos, and hand washes. Due to which the anionic surfactants account for the majority of the market share.
Based on application, the surfactants are segmented into home care, personal care, textile, industrial & institutional cleaning, elastomers & plastics, oilfield chemicals, agrochemicals, food & beverage, and others. Amongs them, the home care accounted for the largest market share, in terms of value, in 2022. Because of the growing use of surfactants in home care products, such as dishwashing detergents, laundry detergents, and fabric conditioners.
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Based on region, Asia Pacific dominated the surfactants market, in terms of both value and volume, in 2022. The personal care and home care applications are growing due to the rapid urabanization and accessibility of raw materials in region specially in China and India. Moreover, the raw materials for surfactants are easily available in low cost in Asia Pacific region. Likewise, the Asia Pacific is projected to be the fastest growing market, in terms of value, during the forecast period 2023 to 2028.
The key players profiled in the report include BASF SE (Germany), Stepan Company (US), Evonik Industries AG (Germany), Dow Inc. (US), Nouryon (Netherlands), and Solvay S.A. (Belgium). The requirement of surfactants is raising due to growing population and rising environmental concerns, and technological advancements. Also, the growing demand for bio-derived and green surfactants and rising textile industry are the key opportunities for the key players. Likewise, to tap these opportunities key players should focuse on new innovations and manufacturing of bio-derived surfactants.
