In a recent published report, Kenneth Research has updated the market report for Surfactants Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Surfactants Market products.
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Moreover, amongst all the continents that used pesticides, Asia registered as the largest user of pesticides by attaining a share of 52.4% in the year 2018. It was followed by the Americas, Europe, Africa and Oceania with 32.3%, 11.6%, 2% and 1.7% respectively. The statistics also stated that China was the largest user of pesticides amongst all the nations worldwide, utilizing 1,763,000 tonnes of pesticides for agricultural use.
The global surfactants market is expected to grow around $46,840 million by 2028 at a CAGR of 5.45% during 2018-2028. 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. A wide range of applications such as personal care, cosmetic, etc. helps in boosting the global surfactants market.
“The CAGR value Could change due to COVID-19 Pandemic on Global Industry”
The surfactant market is forecast to grow at a higher rate in the 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 that drive this market, 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, Amphoteric Surfactants, etc.
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“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Among all product types, the Anionic surfactants market holds the largest market share of the global surfactant market and Cationic surfactants are expected to be the fastest-growing product type in the 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, the oilfield chemical market is expected to fuel the surfactant market in the 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 surfactant market. The Asia Pacific is the leading market in surfactants due to the growing population and improving lifestyle all over the world. North America and Europe are 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.
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What is the aim of the report?
- The market report presents the estimated market size of the Surfactants market by the end of the forecast period. Additionally, the historical and current market size is also examined in the report.
- Based on various indicators, the Year on Year Growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
- An overview of the Surfactants market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
- The report presents current trends in the industry and future scope of the Surfactants market in North America, Asia Pacific, Europe, Latin America and the Middle East and Africa.
- The various parameters accelerating the growth of the Surfactants market are incorporated in the research report.
- The report analyzes the growth rate, market size, and valuation of the Surfactants market during the forecast period.
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 market players. On 10th May 2018, BASF launches its two new products water-based dispersion and cross-linker for high quality, durable coatings.
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