Specialty Surfactants Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)

Key Highlights

• The major factors driving the market are the growing personal care industry in Asia-Pacific and the growth of the oleochemicals market.
• However, increasing focus on environmental regulations is hindering the growth of the market studied.
• In the near future, the growing need for specialty surfactants in the food processing industry is likely to give the market under study a number of chances to grow.
• Asia-Pacific had the biggest share of the market, and it's likely that it will continue to do so for the next few years.

Specialty Surfactants Market Trends

Household Soap and Detergent Application to Dominate the Market

• Applications in laundry detergents and soaps for use in the home accounted for the majority of the specialty surfactant market.The specialty surfactants incorporated in detergents and soaps mix with water and attach themselves to the dirt on clothes and other cleaning surfaces. This helps reduce the surface tension and remove the dirt from the concerned surface.
• The surfactant level in automatic dishwasher detergents is lower than in hand dishwashing detergents to minimize foaming in the dishwasher. The major surfactants used are LAS and alcohol ethoxy sulfates (AES).
• The International Association for Soaps, Detergents, and Maintenance Products says that the total market value of household care products in Europe will be more than USD 40 billion in 2021. More than 80% of the market will be made up of household care products.

Asia-Pacific to Dominate the Market

• Asia-Pacific dominated the specialty surfactants market in 2022 and is expected to continue its dominance over the forecast period. Growing personal care and industrial cleaning industries in India, China, and Japan will propel the market in the future.
• Continuous population growth is a factor fueling the demand for cosmetics in the country. China is one of the leading markets for cosmetics exports from developed economies, such as the United States. According to the National Bureau of Statistics of China, in 2021, the retail sales of cosmetics in China surpassed USD 58 billion and accounted for more than 17% of the global cosmetics market.
• Increasing urbanization followed by rising expenditure has increased the demand for better-quality products over the past few years. Innovative product offerings by leading household cleaning companies are expected to increase market concentration over the coming years. For instance, in July 2022, Godrej Consumer Products unveiled Godrej Magic Bodywash, India’s first ready-to-mix body wash, at just USD 0.57. Furthermore, in September 2021, the RP-Sanjiv Goenka Group entered the personal-care segment by launching skin and hair care products.

Specialty Surfactants Market Competitor Analysis

Additional benefits of purchasing the report:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support