Wilmington, Delaware, United States, March 30, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – The global specialty surfactants market is likely to be valued at US$ 32.68 billion in 2023 and the global market is projected to reach US$ 38.1 billion in 2031. The global industry is anticipated to expand at a CAGR of 1.9% between 2023 and 2031.
The increase in demand for eco-friendly products is a major factor to drive the global market for specialty surfactants, where growth in end-use industries such as personal care, home care, etc thus creates advantageous specialty surfactants market opportunities for its manufacturers.
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Manufacturers are adopting different strategies for remaining competitive in the market where they are developing surfactants that shall meet the specific needs of the customers thus involving modification of the molecular structure or development of surfactants with special functional properties. Therefore, the key players are focusing on reducing production costs by the optimization of the manufacturing process or sourcing the raw materials more efficiently.
The homecare end-use segment is considered to dominate the global market as it is largely used in household cleaning products, dishwashing detergents, etc where these specialty surfactants act as the most important components by removing dirt, stains, etc. which is thus rising the demand not only for eco-friendly products but also sustainable cleaning products thus boosting the homecare segment globally.
The increase in focus on these environmental regulations and the unfavorable production procedure are some major factors that will be expected to impede the growth of the specialty surfactants market during the mentioned forecast period. Further, unstable crude oil costs will also become the foremost challenge for the growth of the specialty surfactant market where this specialty surfactants market report will not only provide details of new recent developments, trade regulations, value chain optimization, and market share, etc. but also will analyze opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, product launches, geographic expansions, technological innovations in the market.
The food processing market is a crucial market for specialty surfactants. The surface-active agent provides some multi-functionality properties for food additives such as emulsifiers, wetting agents, dispersants, etc. These additives contain oils & fats such as shortenings, salad dressings, dairy foods, baked goods, and margarine. So, the increase in demand for specialty surfactants in food processing is likely to create immense opportunities for the market growth rate. As the industry is currently focusing on renewable feedstocks to manufacture specialty surfactant products because these products have low toxicity, high biodegradability, and less environmental impact. Hence, the growing demand for renewable goods which are safe to use and less hazardous to the environment will therefore generate lucrative opportunities for the market growth rate.
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Key Takeaways of Market Report
- Specialty surfactants market was valued at US$ 32.3 billion in 2022.
- Rising demand for eco-friendly products is considered to be a significant factor for the specialty surfactants industry.
- The growing demand for household cleaning detergents and the rise in demand for specialty surfactants in the agrochemical sector.
- The increase in focus on environmental regulation and unfavorable production is expected to hinder growth during the forecast period.
- The rise of demand for food processing and focus on environment-friendly products.
Global Specialty Surfactants Market: Growth Drivers
- Cleaning detergents in the household, hold the largest market share among other end-user industries. This household detergent trade includes pre-spotters, carpet cleaners, laundry detergents, dishwasher detergents, and fabric softeners. Therefore, surface-active agents are largely used for wet surfaces in dishwasher detergents, which help remove soil.
- So, the rising demand for household cleaning detergents is expected to boost the growth rate of the global specialty surfactants market where these specialty surfactants are also used in the agriculture industry on large scale. The applications include additives mainly pesticides such as insecticides, herbicides, and fungicides. Also, surface-active agents such as ‘glycine technical grade’ are increasingly used in agricultural practices wherein ‘glycine technical grade’ aids in chemical synthesis and delivers mineral complexing sites for optimum absorption in agricultural applications, making it the best choice for farmers and the industrial sector.
Global Specialty Surfactants Market: Regional Landscape
- Asia-Pacific is considered to dominate the specialty surfactants market in terms of market share and revenue.
- Secondly, China dominates after Asia-Pacific specialty surfactants market owing to the growth of the cosmetics sector with an increase in applications of the product in soaps and detergents, personal care, and the food processing industry in this region.
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Global Specialty Surfactants Market: Competitive analysis
- BASF SE
Developments-
- BASF SE and Hannong chemicals established a joint venture called BASF Hannong Chemicals solutions Ltd. By the combination of strong technological and product innovation capabilities.
- Clariant
Developments-
- Clariant introduced new Vita 100% bio-based surfactants and polyethylene glycols (PEGs) as they can actively encounter climate change by assisting in the removal of fossil carbon from the value chain.
Global Specialty Surfactants Market Segmentation by-
Category
- Synthetic
- Bio-based
Type
- Anionic surfactants
- Cationic surfactants
- Non-ionic surfactants
- Amphoteric surfactants
- Silicone surfactants
- Others
Process
- Sulfation
- Esterification
- Amination
- Others
Application
- Wetting agents
- Emulsifiers
- Dispersants
- Foaming agents
- Stabilizers
- Lubricants
- Biocides
- Corrosion inhibitors
- Others
End-use
- Homecare
- Personal care
- Automotive
- Industrial
- Food & Beverage
- Oil & Gas
- Agriculture
- Textile
- Paints & Coatings
- Others
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