The global sulfosuccinate market exhibited a highly competitive vendor landscape as of 2015. While the market features the existence of several established players, companies such as The Dow Chemical Company, Huntsman Corporation, MFG Chemical Inc., and Stepan Company among them have showcased seemingly strong presence worldwide. In order to gain pace, the leading market players are seeking high degree of integration, finds Transparency Market Research (TMR) in a new study. Besides this, they have also adopted strategies such as mergers and acquisitions, capacity expansion, and price hike to achieve sustainable growth.
TMR forecasts the global sulfosuccinate market to exhibit a CAGR of 5.3% between 2013 and 2023. At this pace, the market which in 2013 stood at US$271.5 mn is expected to reach US$446.2 mn by the end of 2023. By application, the household detergents and cleaners segment emerged dominant with a share of 40% in 2014.
Europe to Emerge Dominant in Global Sulfosuccinate Market
Regionally, Europe led the global market in 2014 with a share of 35% in terms of volume. The market is significantly gaining from the rapid expansion of the laundry industry in the region. However over the course of the forecast period, the regional market in Asia Pacific is expected to showcase a higher growth rate. As per TMR, the demand for sulfosuccinate will be the highest in economies such as India, Thailand, China, South Korea, and Indonesia.
In North America however the market will witness below-average growth rate during the forecast period. In Latin America, the demand from Brazil will fuel growth. Due to the increasing disposable income of consumers and urbanization witnessed over the last few years, the market in the Middle East and Africa will offer more attractive opportunities. Saudi Arabia and Egypt are the largest markets for sulfosuccinate in the region.
Market to Gain from Increasing Application of Sulfosuccinates across Diverse Industries
Sulfosuccinates are witnessing strong demand mainly due to their application across diverse industries. For instance, they have been extensively employed in the manufacture of personal care products. Additionally, the report foretells the trend to continue over the course of the report’s forecast period. One of the most common uses of sulfosuccinates is in the production of mild baby shampoos. “Besides this, their use in the manufacturing of carpet cleaners, floor cleaners, glass cleaners, laundry detergents, and wall cleaners is also aiding the market’s expansion,” said a lead TMR analyst. Apart from cleaning formulations, sulfosuccinates also find application in leather, textiles, polymers, printing, agriculture, and paints and coatings industries.
Shift towards Bio-based Surfactants Pose Challenge to Sulfosuccinates Market
As per TMR, the rising demand for specialty detergents and cleaning agents, besides the expanding market for personal care products will emerge as chief market drivers. However, the gradual shift towards bio-based surfactants will create major hurdles for the sulfosuccinates market in the near future. While recent environmental regulations will boost the use of the former, stringent norms sighting the adverse impacts of sulfosuccinates could negatively affect their demand in the forthcoming years.
Nevertheless, the increasing demand for sulfosuccinates for use in enhanced oil recovery operations will continue creating opportunities for the market in the near future.
This review is based on a TMR report, titled “Sulfosuccinate Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023.”
The report segments the global sulfosuccinate market as:
- Sulfosuccinate Market – Application Analysis
- Dish washing liquids
- Household detergents & cleaners
- Industrial cleaners
- Personal care products
- Others (Including textiles, petroleum processing, food processing agrochemicals, etc.)
- Sulfosuccinate Market – Regional Analysis
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa (MEA)
- South Africa
- Rest of MEA
- North America
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