In terms of value, the surfactants market is estimated to grow from USD 43.5 billion in 2022 to USD 57.8 billion by 2028, at a CAGR of 4.9%. The main drivers which are driving the surfactants market are increasing demand from various industries, rising demand from personal care industry, and mounting demand from end-use industries for cleaning applications.
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The key players profiled in the report BASF SE (Germany), Stepan Company (US), Evonik Industries AG (Germany), Dow Inc. (US), Nouryon (Netherlands), and Solvay S.A. (Belgium). The major market players given a high priority on incorporating new technologies to keep up with the changing demands of the surfactants around the world. To develop their market position in the industry, these players have adopted a range of growth strategies such as initiating new product development, forming collaborations and partnerships, acquiring other companies, and expansions. These tactics have been utilized to develop their market share in the surfactants industry.
BASF SE is is one of the world’s largest chemical company, with a broad range product portfolio. Overall, its product range serves various industries including agriculture, automotive & transportation, chemicals, coating solutions, furniture & wood, home care and cleaning, nutrition, packaging & prints, paint & coatings, leather & footwear construction, electronics & electric, energy & resources, pharmaceuticals, plastics & rubber, pulp & paper, textile, and personal care & hygiene industries. It offers all type of surfactants such as anionic surfactants, cationic surfactants, non-ionic surfactants, and amphoteric surfactants. The company has a presence in 91 countries and operates at 239 production sites across regions. In March 2022, BASF launched new anionic surfactant, namely, Plantapon Soy. It is mainly derived from soy protein and has a 100% natural origin.
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Stepan Company is a major manufacturer of specialty and intermediate chemicals. Under the surfactants business segment, the company offers full line of surfactants including anionic surfactants, cationic surfactants, non-ionic surfactants, and amphoteric surfactants. Moreover, it also makes custom surfactants and formulate blends to meet the customer requirements. The company manufactures surfactants at the US, Canada, the UK, France, Germany, Mexico, Brazil, and Colombia with its 14 sites. In September 2022, the company made and announcement that it has acquired the surfactant business and associated assets of PerformanX Specialty Chemicals, LLC.
The Asia Pacific region is anticipated to emerge as the leading market for surfactants, driven by its burgeoning population. Increasing demand is observed across various sectors including home care, textile, personal care, and agriculture. Furthermore, factors such as rising exports and cost-effective labor, notably in India and China, contribute to the escalating demand for surfactants in the Asia Pacific region.
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