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The surfactants industry is driven by the rising demand for surfactants from the personal care industry. This can be attributed to the rising standards of living and the growing awareness regarding hygiene and sanitation among the middle-class population in emerging economies, which is expected to drive increased investments to improve the hygienic conditions by keeping the surroundings free of germs and disease-causing pathogens. In addition to this, the rising demand for household detergents to mitigate the exposure to germs and bacteria through clothing is likely to augment the market in the forecast period.
In March 2020, Stepan Company (NYSE: SCL) announced the complete acquisition of the NatSurFact business, a rhamnolipid-based line of bio-surfactants, from Logos Technologies LLC.
In December 2019, Unilever Plc (NYSE: UL) partnered with Evonik, a specialty chemical company, to launch a green cleaning ingredient Rhamnolipid, which is renewable and biodegradable in nature.
In terms of region, North America is likely to account for a significant market share and is anticipated to witness a considerable growth in the forecast period. The rising investment in the chemical industry is projected to support the market growth in the coming years. In addition, the growing focus of the leading market players in the development of environment friendly and sustainable surfactant solutions is anticipated to bolster the market growth in the forecast period.
Market Breakup by Type, End Use, and Region:
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The major players in the global surfactants market are BASF SE, Clariant AG, Croda International Plc, Dow Inc., Indorama Ventures Public Company Limited., Kao Corporation, Lonza Group AG, and Evonik Industries AG, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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