The global surfactants market is expected to grow around $46,840 million by 2022 at a CAGR of 5.45% during 2016-2022. Surfactants are organic chemicals that consist of hydrophilic and hydrophobic parts in a molecule. These molecules tend to reduce the surface tension of the liquid (solvent) in which it is dissolved. Wide range of applications such as personal care, cosmetic etc. helps in boosting the global surfactants market.
The surfactants market is forecast to grow at higher rate in future due to its rapid growth and rising concerns of people regarding health all over the world. The other major factor which helps in boosting this market is the favorable government initiatives as well as key players investing a huge amount in research and development for developing and maintaining the demand of surfactants all over the world. Although there are many factors which drive this market, but still there are various challenges which are faced by the market such as stringent environmental regulations etc. and it is going to be a key factor hampering the growth of the market. There are also some restraints which are faced by global surfactants market such as fluctuations in petroleum prices and technological constraints etc.
The global surfactants market is segmented on the basis of product types, substrate type, and application and by geography. On the basis of product types, the market is segmented into Anionic surfactants (Linear Alkylbenzene Sulfonate (LAS), Secondary Alkane Sulfonate (SAS), Alpha Olefin Sulfonates (AOS), Methyl Ester Sulfonates (MES)), Nonionic Surfactants (Alcohol Ethoxylates (AE), Amine Oxides), Cationic Surfactants, Amphotheric Surfactants etc. Among all product types, Anionic surfactants market holds the largest market share of global surfactant market and Cationic surfactants is expected to be the fastest growing product type in near future. On the basis of substrate type, the market is segmented into Synthetic Surfactants, Bio-Based Surfactants, Sucrose Esters (Alkyl Polyglycosides, Fatty Acid Glucamides, Sorbitan Esters) etc. Among all substrate type, Synthetic surfactants market is expected to dominate the market due to various applications of petroleum based synthetics which are available in the market. On the basis of applications, the market is segmented into Personal Care Industry, Textiles Industry, Industrial and Institutional Cleaning, Elastomers and Plastic Industry, Oilfield Chemicals Industry, Crop Protection, Food Industry and others. Among all applications, oilfield chemical market is expected to fuel the surfactants market in near future due to rising environmental concerns and fluctuations in petroleum prices. On the basis of geography, Europe, Asia Pacific, North America, and ROW are the major segments of this global surfactants market. Asia Pacific is the leading market in surfactants due to growing population and improving lifestyle all over the world. North America and Europe is considered as the second largest region for the global surfactants market. The major reason behind the success of this region is technological advancement and huge investment by key players which helps in propelling the growth of this market.
Some of the major players of the market include Air Products and Chemicals, Inc, Akzonobel N.V., BASF SE, Clariant AG, Croda International, Dupont EI DE Nemours & Co., Evonik Industries AG, Henkel AG & Co. KGAA, Huntsman Corporation (Huntsman International LLC), KAO Corporation and so on. Mergers, product launches, innovation and expansion are some of the key strategies adopted by the market players. On 10th May 2016, BASF launches its two new products water-based dispersion and cross-linker for high quality, durable coatings.