The Asia Pacific surfactants market is highly fragmented due to the presence of several players with small shares. An assessment of the competitive landscape by Transparency Market Research states that the entry for new players is relatively difficult. To remain ahead of the competition key players are expected to focus on product innovation. Development of bio-based surfactants also remains underway as several manufacturers are noticing the demand for safer raw materials for personal care products. Some of the leading players in the market are The Dow Chemical Company, Archer Daniels Midland Company, Akzo Nobel N.V., and Galaxy Surfactants Limited.
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According to the research report, the Asia Pacific surfactants market is expected to be worth US$6.3 bn by the end of 2024 as compared to US$4.1 bn in 2015. Between the forecast years of 2016 and 2024, the global surfactants market expected to expand at a CAGR of 5.0%.
China Emerges as Leading Nation in Asia Pacific Surfactants Market
On the basis of product, the global surfactants market is segmented into cationic, non ionic, anionic, and amphoteric. Of these, non ionic surfactants segment is expected to show remarkable progress in the coming years. By the end of 2024, the non ionic surfactants segment is expected to acquire a share of 34.2% in the overall market. The rising application of these surfactants in sectors such as oilfield chemicals, chemicals, textiles, and agrochemicals are expected is expected to drive the growth in the coming years.
The Asia Pacific surfactants market is segmented into countries such as China, Thailand, Australia, Japan, Vietnam, Indonesia, Philippines, Malaysia, South Korea, and Rest of APAC. Of these, China dominated the overall market in 2015. The country is expected to retain its stance in the coming years as it is slated to acquire a share of 39.4% in the Asia Pacific surfactants market by the end of 2024.
Rising Awareness about Beauty Products in Asia Pacific Boosts Regional Market
The Asia Pacific surfactants market has been witnessing a rise since couple of years due to their increasing adoption in a wide range 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.
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The increasing awareness about beauty, aesthetics, and hygiene are also expected to drive the growth of the Asia Pacific surfactants market in the near future. The changing lifestyles, increasing disposable incomes, 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.
Side-effects of Chemically-obtained Surfactants to Restrain Market Growth
Despite the soaring demand for beauty products, the Asia Pacific surfactants market is being restrained by the growing concerns amongst consumers about the usage of synthetic raw materials and oleo-chemicals in cosmetics. Surfactants manufactured using synthetic sources can lead to side-effects such as irritation to the skin and eye, damage beyond repair, and neurotoxicity amongst others. The introduction of organic products and worries about irreparable damage to the skin due to the use of surfactants are expected to hamper the growth of the Asia Pacific surfactants market.
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