Selbyville, Delaware, Oct. 26, 2021 (GLOBE NEWSWIRE) --
According to the latest report by Global Market Insights Inc., the Sodium Lauryl Sulfate Market was estimated at $591.10 million in 2020 and is slated to exceed USD 800 million by 2027, registering a CAGR of 3.8% from 2021 to 2027. The report presents an in-depth analysis of top winning strategies, wavering market trends, competitive scenario, market size & estimations, drivers & opportunities, and major investment pockets.
Sodium lauryl sulfate (SLS) is typically used as a surfactant as it has a comparatively low environmental impact and high emulsifying capacity than other substances. Several industries like chemical, food, and pharmaceutical, among others, impose stringent safety norms and require proper cleaning of workplaces since contamination can cause product degradation as well as severe health issues. High focus on workplace hygiene standards propelled by increasing industrial activities is set to fuel the sodium lauryl sulfate market share in the coming years.
Additionally, government agencies and cleaning associations are implementing various measures to maintain cleanliness in the industrial and household sectors. However, the lack of awareness in emerging nations is anticipated to hinder product adoption over the following years.
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The global sodium lauryl sulfate market share from dry SLS product segment is estimated to grow at a CAGR of around 3.7% over the analysis period. Dry SLS is preferred in many applications, such as industrial cleaners, and in several industries, including textile and leather, among others, for stabilization and wetting purposes as it contains higher active matter. It also finds extensive usage in household detergents as well as personal care products in low concentrations. Notably, mounting demand for dry SLS owing to its feasibility in storage, handling, and transportation is foreseen to create massive growth potential.
Key reasons for sodium lauryl sulfate market growth:
- Rising adoption as surfactant in multiple industries.
- Burgeoning product demand in developed countries.
- Prevalent usage in industrial and household cleaning.
- Mounting uptake as disinfectant during COVID-19.
2027 forecasts show ‘personal care products’ segment retaining its dominance:
In terms of application, the personal care products segment is expected to be valued at over USD 150 million by 2027. Surging purchasing power of consumers in developing nations and increased willingness to spend on personal hygiene and grooming are set to drive the growth of the sodium lauryl sulfate market segment in the forthcoming years.
Europe to maintain top status in terms of revenue:
The Europe sodium lauryl sulfate (SLS) market is slated to grow at a robust pace to attain more than 17% share by the end of 2027. Household cleaners & detergents include dishwashing, surface care, laundry care, and other maintenance products, which have contributed significantly to the industry revenue in recent years. Furthermore, soaring demand for industrial cleaners supported by stringent government regulations pertaining to cleanliness and maintaining hygiene on work premises is speculated to impel regional market expansion through the study timeline.
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Impact of COVID-19 pandemic on sodium lauryl sulfate market:
Following the COVID-19 outbreak, studies found that surfaces could be contaminated by objects, hands, settling of virus-containing aerosols, or contaminated fluids, and could aid the transmission of the novel coronavirus. Thus, there was a booming need for the production and use of sanitizing fluids to curb the spread of the virus. Anionic surfactants possess high antibacterial efficiency and thus, serve as an emulsifier for removing contamination.
Research indicated that anionic surfactants, which are the main components of liquid hand soap, showed virus inactivation properties. For effective disinfection, leading health agencies viz., the World Health Organization (WHO), directed individuals to wash hands more frequently and at least for 20 seconds to ensure that viruses and bacteria are removed from the skin. Consequently, growing prominence of sodium lauryl sulfate in preventing the COVID-19 illness from spreading has been favorable for sodium lauryl sulfate market outlook during the pandemic.
Leading market players
Some key companies operating in the sodium lauryl sulfate industry include Oxiteno, Galaxy Surfactants Ltd., BASF SE, Innospec, Clariant Corp., Stepan Company, Croda International, Solvay S.A., Melan Chemical Company Ltd., Kao Corp., Pilot Chemical, Godrej Industries Limited, and Xiamen Ditai Chemical Company Limited, among others.
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
