Biosurfactants market size to reach $2.69 billion 2023
Global biobased surfactants market size is set to be worth USD 2.69 billion by 2023. Increasing concerns pertaining to petrochemical derived surfactants disposal accompanied by regulatory compliance by EPA & REACH to promote eco friendly products should positively influence biosurfactants market.
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Biosurfactants are predominately derived from fatty alcohols and vegetable oils. Fatty alcohol sources include soybean oil, safflower oil, sunflower oil, rapeseed oil, beef tallow, tall oil and palm oil. Increasing sustainable raw materials supply oilseed form may enhance industry growth.
U.S., Argentina, Brazil, China, and India are major soy oil production centre. Rapeseed and sunflower oil is among the promising sources which are accounted at over 14% and 8% of the global oilseed market share in 2014. Russia, Canada, and Ukraine are major sunflower and rapeseed oil manufacturing countries.
Shift in trend towards sustainable and naturally derived products in Asia Pacific and Latin America is expected to drive demand. Sugar-based products, neem extracts, and sulfate free products are key bio-based products gaining popularity due to their biodegradable and cost-effective nature.
Favourable initiatives taken by the European government to promote production of bio-based products under CEN/BT/WG 209 and CEN/TC411 may favor regional biosurfactant market size. CEN/TC-276 under the European Commission has been working on a biosurfactants mandate (M/491) which is a part of Lead Market Initiative (LMI) for bio-based products.
Rhamnolipids market is set to witness significant growth rate, increasing at 8% CAGR up to 2023. The product is mainly used in personal care applications including moisturizers and shampoo. Increasing rhamnolipids consumption in oilfield chemicals application in order to aid waste hydrocarbon degradation are potential factors to drive demand.
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Household detergents dominated the application segment and were valued at over USD 785 million in 2015. Increasing environmental concerns pertaining to synthetic surfactants’ toxicity and degradability in detergents has driven application demand.
Raw material price fluctuation due to supply bottlenecks of rapeseed oil, palm oil, soybean oil, and sunflower oil may affect biosurfactants market price trend.
Key insights from the report include:
Global biosurfactants market size is forecast to reach 523.9 kilo tons, growing at 4.4% CAGR up to 2023. Stable chemical nature, excellent foaming properties and superior cleaning ability are the key reasons to drive these materials demand in personal care industry.
Methyl Ester Sufonates dominated the product segment and was valued at over USD 585 million in 2015. Increasing consumer preference for detergents as laundry soaps substitute are potential factors to influence MES consumption.
Personal care applications are projected to attain highest gains, increasing at 4.6% CAGR up to 2023. Global personal care industry growth accompanied by rising consumer preference for bio-based products is promising factors to foster industry growth.
Europe, led by UK and Germany dominated the regional industry demand and was worth over USD 920 million in 2015, in terms of revenue. REACH and EU regulatory compliance to encourage bio-based products is a major influencing factor to fuel regional demand.
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