Published: Jul, 2019
The demand within the global sulfosuccinate market has been rising on account of advancements in the field of pharmaceutical manufacturing, finds Transparency Market Research (TMR). The presence of a a large number of vendors in the global sulfosuccinate market has emerged as a key dynamic of the competitive landscape. The strategic growth moves of the leading vendors in the global sulfosuccinate market deserve to be credited. These vendors have taken an aerial route for marketing, and have introduced inbound marketing tactics. Furthermore, the leading vendors in the global sulfosuccinate market are also focusing on developing their research and manufacturing bases across plethora of new regions. The vendors who succeed in diversifying their research operations can earn voluminous revenues in the forthcoming years.
The small-scale vendors in the global sulfosuccinate market are finding it difficult to challenge the strong position of the leading players. This factor has also fragmented the competitive landscape of the global sulfosuccinate market in recent times. It is expected that the top-notch players in the global sulfosuccinate market would aim at evicting the existence of smaller players. Some of the key players in the global sulfosuccinate market Stepan Company, are The Dow Chemical Company, Lonza, Croda International Plc, Huntsman Corporation, and Cytec Industries Inc.
Transparency Market Research (TMR) predicts that the global sulfosuccinate market would expand at a moderate CAGR of 5.30% over the period between 2015 and 2023. The total value of the global sulfosuccinate market is expected to reach US$ 446.2 mn by 2023-end, rising up manifold from its value in 2016. On the basis of applications, the global sulfosuccinate is led by the pharmaceutical segments. Based on geography, the sulfosuccinate market in North America is projected to expand at a stellar pace.
Growth of Cosmetic Industry to Propel Market Demand
The past decade has witnessed the most stellar improvements in the field of skincare, cosmetics, and beauty. New body lotions and facial creams have gained popularity amongst all population demographics. The use of sulfosuccinate in the manufacture of cosmetic products has, therefore, given a strong impetus to the growth of the global market. Moreover, a number of new trends that have lately come to the fore of the global cosmetics industry, and all of these trends support market growth. The growing utility of sulfosuccinate across the pharmaceutical industry has also generated huge-scale demand within the global market. The manufacture of several types of medicinal drugs and tablets involves the use of sulfosuccinate. This trend has given a strong impetus to the growth of the global sulfosuccinate market.
Use of Sulfosuccinate in Detergents and Washing Liquids
The chemical composition of sulfosuccinate is such that it helps in removing stains from cloth. For this reason, all detergent powders are mixed with sulfosuccinate in order to enhance the cleansing action of these powders. Hence, the global sulfosuccinate market is projected to accumulate voluminous revenues in the years to follow. The need for a resilient sector for manufacturing the latest types of detergents has also given an impetus to the growth of the global market. There have been key advancements in the domain of pharmaceutical testing and research which has also played to the advantage of the global market. The total volume of revenues in the global sulfosuccinate market is expected to increase at a stellar pace in the coming years.
The review is based on TMR’s report titled, “Sulfosuccinate Market (Application - Dish Washing Liquids, Household Detergents and Cleaners, Industrial Cleaners, Personal Care Products, Pharmaceuticals, Textiles, Petroleum Processing, and Food Processing Agrochemicals) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 – 2023”.
For the study, the market has been segmented as follows:
- 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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