Used across varied industry verticals, surfactants will see a steady market growth between 2015 and 2023, states a Transparency Market Research report. As per analysts, the global surfactants market will see improvement in market worth by end of the forecast period. It will increase to a USD 28.83 billion, owing to a steady 4.20% CAGR (Compound Annual Growth Rate). And, as new products hit the market, the graph would only grow steeper with time. This means a plethora of opportunities arising from the market landscape.

Some of the industries that are contributing significantly to the generation of demand in the global surfactants market are leather and textile, household detergents, personal care, oilfield chemicals, and industrialization

The global surfactants market is quite fragmented and some of the notable players include P&G Chemicals, Clariant International Ltd., Galaxy Surfactants Limited, Evonik Industries AG, The Dow Chemical Company, Lonza Group Ltd., Akzo Nobel N.V., BASF SE, Archer Daniels Midland Company, and Huntsman Corporation.

Growth in Demand for Personal Care Products Leading to Growth in the Global Surfactants Market over the Forecast Period

Used extensively in products such as shampoos, body washes, conditioners, and hair masks, surfactants would see a growing demand over the forecast period as personal grooming takes center stage. Besides, with an increase in disposable income will lead to higher spending capacity and that means greater demand for these products.

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Also, credit the rising trend of social media, new and innovative products are seeing easy marketing and better sales. Besides, consumerism is at its peak due to a massive social media influence on the millennial populace.

Here, it is pertinent to note that owing to rising awareness about environmental degradation, the hyper-aware millennial consumer is moving swiftly towards greener variants of surfactants to ensure no negative impact is created on the planet owing to their decisions.

The Asia Pacific Region to Chart an Enviable Growth Trajectory over the Forecast Period

Owing to high demand from countries such as China, India, and Indonesia, the Asia Pacific (APAC) region will witness high growth over the forecast period. Besides, as economy in nations that are flanking the regional landscape demonstrate a robust performance, disposable incomes increase, improving the standard of living for people, generating a higher demand for surfactants over the forecast period. The improved spending capacity in turn allows for more demand for premium products, contributing significantly to the growth of global surfactants market.

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Besides, in countries like China and India, the consumer base quite broad. As population in the region expands, so would demand for surfactants. It is significant at this point to note that India is a massive soap producer and that will have implications on the regional growth over the forecast period in a positive period.