The global surfactants market is predicted to reach a value of US$42,120.4 million by 2020, up from US$33 billion in 2014, according to a new report released by RnR Market Research. In volume terms, demand is expected to hit 24,037.3 Kilotons.
Thanks to its growing young population, Asia-Pacific is the biggest market for this group of amphiphilic compounds commonly used in detergents, emulsifiers and foaming agents. India is set to register the fastest growth within this region. North America takes second place, with the US forecast to become the largest consumer in 2015. Europe occupies third position and the UK is expected to witness the most rapid growth between 2015 and 2020.
Akzonobel and Evonik Industries are the most active participants in the global surfactants market. In terms of segmentation, the anionic surfactants category is estimated to witness the largest consumption by volume globally.
The market for synthetic surfactants is reliant on volatile oil prices and increasing environmental concerns but the emerging bio-based surfactants category is poised to address this limitation, as long as it can overcome technical constraints and the elevated costs associated with production. Increasing consumer demand for eco-friendly products is expected to drive growth as the market for bio-based surfactants matures.