New York, United States , March 06, 2023 (GLOBE NEWSWIRE) -- The Global Sodium Lauryl Sulfate Market Size to grow from USD 650.30 million in 2021 to USD 1146.19 million by 2030, at a Compound Annual Growth Rate (CAGR) of 5.45% during the forecast period. The Sodium Lauryl Sulfate Market is expected to be driven by factors such as the numerous uses of sodium lauryl sulphate in soaps, detergents, and cleansers, the expanding global personal care market, and rising consumer awareness of personal hygiene. 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.
Global Economy: Recession Risk Rising Analysis and Russia-Ukraine Conflict War Impact we have added in the final premium report.
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The Dry segment accounts for the largest market size during the forecast period
Based on the Product, the global sodium lauryl sulfate market is categorized into Liquid and Dry. The Dry segment accounts for the largest market size during the forecast period. The Dry market category now has the largest market share and is anticipated to expand at a high CAGR over the anticipated years because due to its numerous uses in the manufacturing of detergents and lotions, creams, and other personal care & beauty products. Shampoos, cleaning solutions, toothpaste, and shaving foams are examples of grooming products that can utilize low-concentration dry SLS. Additionally, dry SLS has a potent antibacterial impact on the oral bacterial ecology, opening the door to its widespread use as a surfactant in toothpaste. Dry SLS is recommended in applications where strong cleaning qualities are required, including industrial cleansers and other uses, such as the textile and leather industries, for wetting and stabilization. Dry SLS typically contains an active matter near to or more than 90%. These uses will also support the expansion of the sodium lauryl sulfate market as a whole.
The Household Products segment to hold a higher CAGR during the forecast period.
Based on the application, the sodium lauryl sulfate market is categorized into Industrial Cleaners, Household Products, Personal care and Others. The Household Products segment to hold a higher CAGR during the forecast period. Throughout the forecast period, the Household Products segment is anticipated to maintain its leading position while expanding at the fastest CAGR driven by expanding per capita wealth and growing public health concerns in nations like China, India, Brazil, Indonesia, Malaysia, and South Korea. Leading market competitors are actively implementing promotional tactics and improving their product offerings for home and cleaning goods.
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COVID-19 IMPACT & ANALAYSIS
The COVID-19 pandemic has made an adverse impact on credit portfolios. There has been an unprecedented rise in unemployment and disruption in economic activity, putting a strain on the solvency of customers and companies. Central banks have taken a proactive approach by injecting liquidity into the market by lowering interest rates and asset purchase programs. Managing and monitoring credit, market, liquidity, and operational risk across financial markets were hard enough with ongoing geopolitical tensions, international trade wars, and the occasional hurricanes and earthquakes. The current pandemic situation has forced chief risk officers and their teams to recalibrate old assumptions and models used to manage and monitor risk. COVID-19’s global impact has shown that interconnectedness plays an important role in international cooperation. As a result, many governments started rushing toward identifying, evaluating, and procuring reliable solutions powered by AI.
Browse 47 market data Tables and 57 Figures spread through 215 Pages and in-depth TOC on “Global Sodium Lauryl Sulfate Market Size, Share, and COVID-19 Impact Analysis, By Product (Liquid and Dry), By Application (Industrial Cleaners, Personal care, Household Products, and Others) and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), Analysis and Forecast 2021 – 2030.”
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North America to hold a higher CAGR during the forecast period.
The Global Sodium Lauryl Sulfate Market has been segmented into five major regions: North America, Europe, Asia-Pacific, South America, The Middle East and Africa. Asia- Pacific is estimated to account for the highest market share in 2022. The demand for Sodium Lauryl Sulfate is being driven by the rising acceptance by the market. The market for Sodium Lauryl Sulfate was dominated by the Asia Pacific region because holds a dominance on the worldwide market share. The global laundry market is now expanding at the quickest rate in China. Due to the evolving retail environment in India and the increased accessibility of various items from various brands, washing machine-based laundry products have become increasingly popular. This increase in detergent usage is anticipated to increase the need for SLS. Additionally, the greatest use for sodium lauryl sulphate (SLS) was in detergents and cleaners; this market is anticipated to maintain its dominance during the projected period, mostly because of the rise in home applications.
Europe region to hit top status in terms of revenue:
The Europe sodium lauryl sulfate (SLS) market size is slated to grow at a robust pace to attain more than 15.79% share by the end of 2030. Household cleaners & detergents include dishwashing, surface care, laundry care, and other maintenance products, which have contributed significantly to the industry revenue in recent years.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Sodium Lauryl Sulfate Market: include Croda International, Lion, TAYCA Corporation, Clariant, Solvay, Huntsman International LLC, Stepan Company, Henkel AG & Co, KGaA, Galaxy Surfactants, BASF (Thailand), The Dow Chemical Company, Kao Corporation, Oxiteno, Godrej Industries Limited, Taiwan NJC Corporation, Evonik Industries AG, and Akzo Noble N.V. 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.
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Some Of The Key Developments:
In October 2018, In order to introduce Persil Power gems, a new type of detergent that is neither powder nor liquid but includes lentil-shaped crystals that are more concentrated than any other washing powder, Henkel AG & Company, KGaA invested over USD Millions in research and development operations.
In June 2018, The leading provider of speciality chemicals in the world, Clariant, has unveiled Playing with Beauty, its most avant-garde and distinctive line of cosmetics. It was created particularly to make regular beauty practises a more dynamic and engaging emotional experience.
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