Press release
Secondary Alkane Sulfonate Market Analysis By Key Players: Lanxess AG, Clariant Corporation, The WeylChem Group, Acar Chemicals, Rajvin Chemicals and BIG SUN Chemical Corporation
Robust demand from industrial applications like laundry services, hospitality, textile pulp & paper etc. will drive the global secondary alkane sulfonate (SAS) market in the forecast period. Moreover, growing trends in household demand, due to enhanced awareness regarding personal hygiene and consumer lifestyle dynamics will propel the market growth by 2024. numerous food outlets such as Burger King, McDonald's, KFC, etc.
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Cleanliness holds paramount importance in food & beverage market. Consequently, significant growth trends in food & beverage sector will fuel demand for dish-washing liquids, thus complimenting the product market share in the near future. SAS holds some unique properties such as higher water solubility, foaming power, higher chemical stability with variety of pH values, soil and grease dispersion and superior wetting action which drive its demand in the detergents industry as foremost surfactant ingredient.
In 2016, global food & beverage business generated revenues more than USD 15 trillion. Also, favorable FDA regulations safeguarding sanitation in processing associated with food & beverage industry and the emerging fast food trends in Asia Pacific region are expected to subsequently boost the industry growth in forecast period.
The prevalent regulatory norms based on the latent product threat on being exposed to the surroundings. For instance, direct product contact (in the form of high concentration) with the skin may lead to irritation whereas its consumption through residue leftovers might lead to indigestion. Also, on its disposal into water bodies, the toxicity associated with SAS makes it hazardous for aquatic flora & fauna. These aforementioned factors could be growth restraints for the market by 2024.
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The household detergents & cleaners segment held the largest share for SAS market in 2016, by accounting for 40% of the worldwide volume. The global household detergents market industry is likely to experience growth over 6% by 2024 which would contribute to further business growth across the globe.
Industrial cleaners will hold gains over 4% CAGR by 2024. Rapid industrialization along with detergents demand for oil and grease stains removal will propel the secondary alkane sulfonate market across the globe.
North America is probable to witness moderate gains up to 3.5% CAGR over the forecast period.
Escalating regional customer base for the personal care segment will fuel the industry growth by 2024. The SAS is popularly used in the cosmetic products like shampoos, shaving cream and bar soaps owing to its moisturizing, emulsifying and foaming traits. This represents brighter growth trends for the product in the coming years.
Key market players are Lanxess AG, Clariant Corporation, The WeylChem Group, Acar Chemicals, Rajvin Chemicals and BIG SUN Chemical Corporation
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