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Surfactants Market size was valued at USD 39.99 billion in 2019 and is poised to grow from USD 41.84 billion in 2023 to USD 59.95 billion by 2031, growing at a CAGR of 4.6% in the forecast period (2024-2031).

AkzoNobel N.V., Clariant AG, BASF SE, Kao Corporation, and others are key companies in the business. Companies highlighted are active in capacity expansion, new product development, acquisition, and joint venture, acquiring a worldwide competitive advantage 'BASF SE', 'Dow Chemicals', 'Huntsman Corporation', 'AkzoNobel N.V.', 'Clariant International AG', 'Kao Corporation', 'Stepan Company', 'Croda International plc', 'Evonik Industries AG', 'Solvay SA', 'Air Products and Chemicals, Inc.', 'Ashland Holdings Inc.', 'Sasol Limited', 'Lion Corporation', 'Rhodia', 'Galaxy Surfactants Ltd.', 'Pilot Chemical Corp.', 'Lonza Group Ltd.', 'Innospec Inc.', 'Vinamax Organics Pvt. Ltd.'

The increased demand for the product from numerous applications such as home care, textiles, and food & beverage will drive the worldwide market forward. Home care application is one of the primary reasons driving the market, owing to increased consumer hygiene concerns. The product provides great infection prevention and prevents illness transmission. Rising demand for sanitizers, detergents, cleaning products, shampoo, and hand soap will drive market expansion. Furthermore, several chemical substances are utilized in industrial cleaning to remove various sorts of dirt and by-products discharged throughout the production process.

Demand for Eco-friendly Alternatives: As consumers become more ecologically sensitive, they seek green or bio-based surfactants. This is anticipated to benefit market demand. Because they are effective and adaptable, bio-based surfactants are used in personal care, cleaning goods, food, and drinks.

APAC is expected to lead the sector in terms of volume. Because of the usage of bio-based surfactants and the requirement to import raw ingredients from countries such as Malaysia and Thailand, surfactant costs in North America are higher than in APAC. As a result, as compared to APAC, North America has a higher surfactants market share in terms of volume.

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Global Surfactants Market

Product ID: SQMIG15A2077