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Natural Surfactants Market Dynamics and Projections 2024
Natural Surfactants Market Dynamics
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According to The Business Research Company's, The natural surfactants market size has grown strongly in recent years. It will grow from $18.84 billion in 2023 to $20.09 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to consumer demand for natural products, environmental concerns and regulations, shift toward green chemistry, expanding personal care industry, consumer awareness of harsh chemicals, research and development initiatives, availability of raw materials.
The natural surfactants market size is expected to see strong growth in the next few years. It will grow to $26.26 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to expansion in agricultural sector, bio-based and renewable resources, preference for plant-derived ingredients, expansion of organic farming, government support for sustainable practices. Major trends in the forecast period include expanding applications in household cleaners, innovation in biosurfactants, focus on renewable resources, technological advancements in extraction methods, performance optimization of natural surfactants.
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Market Drivers and Trends:
The rising demand for eco-friendly products is expected to propel the growth of the natural surfactants market going forward. Eco-friendly products refer to goods or items that are designed and manufactured in a way that minimizes their impact on the environment. Eco-friendly products use natural surfactants because they are more sustainable and environmentally friendly than synthetic surfactants and provide effective cleaning or foaming properties while minimizing the negative impact on the environment. For instance, in September 2023, according to survey reports published by The Roundup, a US-based promotor of environmental awareness, 78% of consumers thought that sustainability was essential, and 55% of consumers were ready to pay more for eco-friendly products. 75% of sustainable items sell better online than in-store, and 50% of customers worldwide claimed to have made environmental changes in the previous six months of 2021. Therefore, the rising demand for eco-friendly products is driving the growth of the natural surfactants market.
Product innovation is the key trend in the natural surfactant market. Major companies operating in the natural surfactant market are concentrating on research and development for product innovations such as Vita 100% bio-based surfactants and polyethylene glycols (PEGs) to provide low carbon footprint solutions to customers. For instance, in February 2022, Clariant AG, a Switzerland-based multinational company operating in care chemicals, catalysis, natural resources, and plastics & coatings, introduced its innovative new surfactants and PEGs Vita products. These innovative products are 100% bio-ethanol derived from sugar cane or corn to create the ethylene oxide that reduces carbon footprints in manufacturing surfactants. These products have at least 98% Renewable Carbon Index (RCI) and save up to 85% of CO2 emissions by setting new standards in sustainable surfaces and green carbon solutions for helping to restore the earth's carbon balance.
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Major Key Players of the Market:
Akzo Nobel N.V., BASF SE, The Dow Chemical Company, Croda International PLC., Huntsman Corporation, Clariant AG, Stepan Company, Kao Corporation, Indorama Corporation, Innospec, Dora Agri-Tech, Lankem, Sanchi Organics Private Limited, Kensing, LLC, Solvay S.A., Arkema, Evonik Industries AG, Galaxy Surfactants, Air Products and Chemicals, Sasol, India Glycols, Enaspol, Celanese Corporation, Eastman Chemical Company, Albemarle Corporation, DuPont de Nemours, Inc., LyondellBasell Industries N.V., Croda International Plc., Ecopol Chemicals Pvt. Ltd., Aarti Industries Ltd.
Natural Surfactants Market 2024 Key Insights:
• The natural surfactants market size is expected to see strong growth in the next few years. It will grow to $26.26 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%.
• Rising Demand For Personal Care Products Fuels Growth In Natural Surfactants Market
• Clariant Ag Revolutionizes The Natural Surfactant Market With Vita Bio-Based Innovations For A Sustainable Future
• Europe was the largest region in the natural surfactants market in 2023
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