Press release
Sulfosuccinate Market growth is stimulated by increasing personal care products demand | Key Players are Huntsman Corporation, Stepan Company, Cytec Solvay Group, Air Products, Evonik, Clariant, DuPont, Croda, Henkel, Kao Corporation, The Dow Chemical Com
Sulfosuccinate Market
The rapid industrialization and growth in the infrastructural development across the globe will be the prominent factor to boost sulfosuccinate market. In addition, the product will witness heavy demand pertaining to its usage across restaurants, offices, food processing plants, and metal working industries for cleaning purposes. Speaking of cleaning, sulfosuccinate market from industrial cleaners collected a revenue of USD 30 million in 2015 and will exhibit a significant growth rate over the years ahead. The implementation of stringent rules and regulations regarding environmental and industrial safety will impel sulfosuccinate industry growth. In addition, the growing awareness among the public regarding the importance of personal hygiene and health will also boost the market trends.
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As per research studies, global skin care market is predicted to collect a revenue of more than USD 150 million by 2024, subject to which global sulfosuccinate market will experience heavy growth. Also, the per capita income of the population in the BRIC nations is increasing noticeably, resulting in high product usage.
The global demand for household detergents will exceed 60 kilo tons by 2024. This product is prominently used in detergents, due to its key properties such as excellent dispersing and emulsifying ability. Sulfosuccinate based products are also used for floor cleaning, glass cleaning, dry cleaning, and carpet shampoos. This, in turn, will augment sulfosuccinate market growth noticeably.
Global sulfosuccinate market size is poised to attain USD 475.7 million in revenues by the end of 2024, with gains of more than 6% CAGR.
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.
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.
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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.
Global Sulfosuccinate Market By Application
• Dish washing liquid
• Household detergents & cleaners
• Industrial cleaners
• Personal care products
• Pharmaceutical
• Others
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:
https://www.gminsights.com/industry-analysis/sulfosuccinate-market
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