Published: Jun, 2018
The Asia Pacific surfactants market features a fragmented competitive landscape according to a recent market research report by Transparency Market Research. Players in the market are emphasizing on expanding their businesses and taking efforts on new product innovation, including the development of bio-based surfactants, to acquire a larger share in the market. Presence of new entrants and regional players in developing countries in Asia Pacific, including China, Japan, and Thailand, has further intensified the level of competition in the market, prompting companies to focus more on R&D activities to stay ahead of their peers.
The companies are also trying to offer new products to increase their product portfolio for acquiring larger stake in the market. Akzo Nobel N. V., Dow Chemical Company, Galaxy Surfactants Limited, Archer-Daniels-Midland Company, BASF S.E, Evonik Industries, Clariant International Ltd., Huntsman Corporation, Lonza Group Ltd, Stepan Company, and The Procter & Gamble Company are the key players operating in the surfactants market.
TMR prophesizes that the Asia Pacific surfactant market is expected to witness 5.0% CAGR over the period between 2016 and 2024. The market was valued at US$4.1 bn in 2015 and is expected to attain a value of US$6.3 bn by the end of 2024.
Increasing Adoption of Non-ionic Surfactants in Several End Use Industries to Drive Market
On the basis of product, in 2015, the non-ionic surfactants segment dominated the market in terms of volume and accounted for nearly 30% of the entire market. It has been observed that the demand for non-ionic surfactants has increased in numerous end-use industries including paints and coatings, agrochemicals, and concrete. This is owing to the fact that non-ionic surfactants possess better foaming properties.
On the basis of country, in 2015, China accounted for the highest share of about 45% in terms of volume. This can be attributed to the thriving development of the industrial sector in the country coupled with rising investments in the paint and coating industry.
Improved Lifestyle of Population Driving Demand for Beauty and Hygiene Products
Increasing per capita income in the region is improving lifestyles and improving spending power of the consumer in the region. Improvements in lifestyle are boosting demand for personal care products, soap and detergents, beauty, and hygiene products significantly. Additionally, the presence of material suppliers coupled with huge investments in new product launches, expansion of businesses, and wide geographical reach are the factors aiding growth of the market.
However, stringent regulations concerning environmental protection in several countries in the region are negatively impacting the uptake of a variety of surfactants that are known to include chemicals that can damage the environment, which is hampering growth of the surfactants market to a certain degree. The high initial investments for new plants could also limit the expansion of the market to a certain extent. Nevertheless, increased focus on the development of bio-based products, adoption of new technologies, and business expansion in developing countries could present promising growth opportunities before the surfactants market in the next few years. Robust availability of the raw materials required for the manufacture of new bio-surfactants also offers a promising growth opportunity for key players present in the Asia Pacific surfactants market.
The information presented in this review is based on a TMR report, titled “Surfactants Market (Product - Cationic, Anionic, Non-ionic, and Amphoteric; Application - Personal Care, Oilfield Chemicals, Paints & Coatings, Emulsion Polymerization, Agrochemicals, and Concrete Additives) - Asia Pacific Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024.”
The Asia Pacific hybrid additive manufacturing machines market has been segmented as presented below:
Asia Pacific Surfactants Market by Product
Asia Pacific Surfactants Market by Application
- Personal Care
- Oilfield Chemicals
- Paints & Coatings
- Emulsion Polymerization
- Concrete Additives
Asia Pacific Surfactants Market by country
- South Korea
- Rest of Asia Pacific
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through ad hoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.
90 State Street, Suite 700
Albany, NY 12207
USA - Canada Toll Free: 866-552-3453