Market Trends of Specialty Surfactants Industry
This section covers the major market trends shaping the Specialty Surfactants Market according to our research experts:
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.
Demand for detergent has increased in the United States in recent years. The rising prevalence of infectious diseases, coupled with growing concerns related to health and hygiene, will further increase the sales of detergent. Leading detergent brands in the United States include Tide, Gain, Arm & Hammer, All, Purex, Xtra, Persil, Dreft, and Seventh Generation. Tide dominated the U.S. detergent industry in 2022 and generated sales of nearly $2.40 billion.
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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.
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