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What's driving the Sodium Lauryl Sulfate Market trends? |Growth Analysis to 2024, Key Players Croda, Clariant, Huntsman Corporation, Solvay, Stepan Company, Galaxy Surfactants Limited, BASF, Kao Corporation, Sasol, Oxiteno
Sodium Lauryl Sulfate (SLS) Market
Growing detergents & cleaners demand for household and industrial use will drive the global Sodium Lauryl Sulfate market during the forecast period owing to the products application in the manufacture of detergents and other cleaning products. High industrial growth coupled with industrial cleanliness initiatives will drive the demand for industrial cleaners in future years. Increasing awareness about cleanliness and hygiene will also positively affect the detergents and household cleaners demand. Global household detergents industry is poised to grow during the forecast period and will augment the global sodium lauryl sulfate market during the forecast period.
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Rising income levels coupled with inclination towards personal grooming has resulted in growing demand for personal care products. The segments market is anticipated to grow by more than 5% CAGR and will propel the global sodium lauryl sulfate market during the forecast period. However, absence of awareness about the advantages of SLS products and certain environmental and health hazards related to the product may hamper the sodium lauryl sulfate market during the forecast period.
Two major product segments in the global sodium lauryl sulfate market are dry and liquid products. Dry SLS products are further segmented as needles, powders, and granules. Dry product segment is anticipated to witness a fast growth rate exceeding 5% CAGR till 2024. Among the dry product type, needles market in 2024 will likely reach around USD 150 million. Liquid product type market in 2024 will likely exceed USD 350 million and is anticipated to grow by a healthy rate due to slightly lower cost and wide usage in personal grooming products and detergents.
Application types under the global sodium lauryl sulfate market is categorized as industrial cleaners, personal care products, household detergents & cleaners, dish washing liquids, and other types. Household detergents & cleaner occupied about 40% of total market and is anticipated to be the quickest growing segment. Personal care products revenue will likely reach USD 100 million and this category will also grow substantially owing to increased demand for these products in emerging economies.
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Asia Pacific is a high potential region for global sodium lauryl sulfate market due to rising demand for industrial cleaners from a fast-developing industrial sector as well as growing cosmetics and personal care products industry. This region is anticipated to witness growth of around 5% CAGR till 2024. North America sodium lauryl sulfate market will grow at a slow rate due to increased use of natural cosmetic products in this region. Matured personal care products market will also be a factor behind the regions sluggish growth rate.
Many companies in the global sodium lauryl sulfate market have integrated across the value chain and established themselves as both product as well as raw materials manufacturers. Some key players in the industry are The Dow Chemical Company, Huntsman Corporation, BASF SE, Sasol, Oxiteno, Solvay S.A., Godrej Industries, Melan Chemical, Croda International, Galaxy Surfactants, Taiwan NJC Corporation, Kao Corporation, Clariant Corporation, Xiamen Ditai Chemicals, Stepan Company, and Miwon Commercial.
Browse key industry insights spread across 110 pages with 151 market data tables & 11 figures & charts from the report, “Sodium Lauryl Sulfate Market” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/sodium-lauryl-sulfate-SLS-market
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