Press release
Asia Pacific Surfactants Market: Players up the Ante with Product Developments By 2024
Surfactants Market
A few of the prominent names operating in the Asia Pacific market for surfactants are Archer Daniels Midland Company, the Dow Chemical Company, Akzo Nobel N.V., and Galaxy Surfactants Limited. Entry barriers for aspiring players are high in the market.
As per a research report by Transparency Market Research, the market for surfactants in Asia Pacific is slated to expand at a 5.0% CAGR to reach a value of US$6.3 bn by 2024-end from US$4.1 bn in 2015.
Browse Market Research Report @ http://www.transparencymarketresearch.com/asia-pacific-surfactants-market.html
China Power Asia Pacific Market on account of Robust Demand for Paints and Coatings
Depending upon the types of products, the Asia Pacific surfactants market can be segregated into cationic, non-ionic, anionic, and amphoteric. The most promising product segment of those is the non-ionic surfactants. This segment is likely to expand its market share at a healthy clip in the years to come. The TMR report predicts the non-ionic surfactants segment to attain a 34.2% share in the Asia Pacific surfactants market by 2024 on account of their increasing application as oilfield chemicals, agrochemicals, chemicals, and textiles. The cationic and amphoteric surfactants are also predicted to clock good growth by virtue of their higher purity.
Geographically, the key segments of the Asia Pacific surfactants market are South Korea, Japan, China, Indonesia, India, Malaysia, Thailand, South Korea, Vietnam, Philippines, and Australia. China, among them, accounted for a significant 45% share in the overall market in 2015 vis-à-vis volume. The robust demand for paints and coatings have driven the market in China. Japan follows in the second position by dint of being a frontrunner in the personal care industry.
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Explosive Demand for Personal Care Products Drives Market Growth
Majorly boosting the Asia Pacific surfactants market is the massive uptake of personal care products. “The diversity of personal care industry has offered the surfactants market several lucrative opportunities for growth. Increasing number of mouth wash, toothpaste, and hair care brands have been making significant usage of surfactants in their products. Furthermore, growing sales of bathing and shaving products are also expected to augment the demand for surfactants across Asia Pacific. Non-iconic, amphoteric, and cationic are the three types of surfactants that will be predominantly used in the near future,” explains the analyst of the report.
Growing Concern about Beauty and Aesthetics Bodes Well for Market
Other factors slated to bolster the Asia Pacific surfactants market are rising knowledge about beauty, aesthetics, and hygiene. “Changing lifestyles, growing ability to spend, and shifting perceptions toward improving the standard of living are also expected to have a positive impact on the trajectory of the Asia Pacific surfactants market during the forecast period,” adds the analyst of the report.
Acting as a roadblock to the Asia Pacific surfactants market is the increasing concerns about the use of synthetic raw materials and oleo-chemicals in cosmetics as they can cause side-effects such as irritation to the skin and eye, neurotoxicity, etc.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insights for decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, TMR employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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