By 2024, Sulfosuccinate Market to hit $475mn | Key Players are Huntsman Corporation, Stepan Company, Cytec Solvay Group, Air Products, Evonik, Clariant, DuPont, Croda, Henkel, Kao Corporation, The Dow Chemical Company
In 2015, the sulfosuccinate market size for industrial cleaners accounted for about USD 30 million. The product is extensively used in office buildings, metal processing, restaurants and food processing plants. The growth for this segment is mainly propelled by growing consumer awareness for health and hygiene.
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Pharmaceuticals shall experience gains more than 5% CAGR by 2024. The product is used as a lubricant in tablet production and emulsifier in syrup production. Increasing health issues globally, has increased medicines demand, owing to subsequently boost the sulfosuccinate market size over the projected timeframe.
Sulfosuccinate Market to reach USD 475.7 million by 2024; according to a new research report by Global Market Insights, Inc. Global sulfosuccinate market size is chiefly driven by the rising personal care product demand in the past few years. in 2013, the overall skincare industry generated approximately USD 100 million and is forecast touch USD 150 million over the projected timeframe. Furthermore, in 2013, the global hair care sector was valued at over USD 70 million and is projected to reach USD 100 million by 2024. Superior wetting, emulsifying and dispersing characteristics offered by the product makes it preferable to finds applications across personal care goods including baby shampoos, bubble baths and cleaners. Upgrading end-user lifestyles on account of increasing per capita disposable income is analyzed to boost the business growth by 2024.
In 2013, household detergents industry size was close 30 kilo tons and shall mark 60 kilo tons by 2024. The product is widely used in detergents, as it is an anionic surfactant. The product is substantially used as cleaners for glass & floor, carpet shampoos and dry cleaning. These are also used in the fir and leather industries. Rising wellbeing industry along with increasing awareness towards cleanliness, will ultimately drive the sulfosuccinate market size in the coming years.
Petroleum-based alcohol ether sulfate (AES) can be replaced by bio-based AES in the detergents and the personal care industry, owing to their similar characteristics. This is likely to restrict the business growth. In addition, the product experiences stringent environmental legislations pertaining to its production and transportation. This may further hinder the global sulfosuccinate market share by 2024. However, upcoming product use across oil & gas industry as a surfactant in mature oil reserves has created growth prospects for the industry players.
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Key insights from the report include:
In 2015, North America, chiefly led by the U.S. sulfosuccinate market share generated revenue close to USD 55 million. Growing pharmaceutical sector in the region is analyzed to be one of the factor contributing to growth in the region.
Europe dominated the global sulfosuccinate market share in 2015. Europe will retain its dominance by 2024, being the largest producer & consumer of personal care goods.
Asia Pacific, dominated by China and India, will be the fastest growing region over the forecast timeframe, at over 6.5% growth. Rising disposable income has positively influenced the personal care and healthcare sector in the region, and is likely to boost industry growth in the region.
Sulfosuccinate market share was highly competitive in 2015. The major industry contributors include The Dow Chemical Company, Huntsman Corporation, Stepan Company and MFG Chemicals. These companies have presence across several stages in the industry ecosystem, which the industry competitive.
Browse key industry insights spread across 115 pages with 93 market data tables & 12 figures & charts from the report, “Sulfosuccinate Market” in detail along with the table of contents:
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