North America Surfactant Market - Segmented by Type, Origin, Application, and Geography - Growth, Trends and Forecast (2018 - 2023)
The North American surfactant market is expected to reach USD 13,155.78 million in value by 2023, registering an estimated CAGR of 2.73% during the forecast period (2018 - 2023). Increasing usage of surfactants in various industries is expected to drive the demand for surfactants market. In addition, increasing usage of bio-surfactants and abundant availability of raw materials are also expected to drive the market. In 2017, United States accounted for the largest share of North America Surfactant market.
Increasing Demand for Bio-Surfactants
Bio-surfactants are eco-friendly products and are considered to be successful substitutes of synthetic chemical surfactants, in most applications. Various factors, such as hazardous environmental impacts due to synthetic surfactants, increasing petroleum prices, and limited availability of synthetic surfactants are likely to increase the demand for bio surfactants in the future. Bio-surfactants have gained immense importance in the field of pharmaceutical, biomedical, cosmetic & personal care, and in the food industry. Many pharmaceutical grade surfactants consist of saccharide or fatty alcohol ethers or polyol-fatty acid esters, which are bio-surfactants. Bio-surfactants plays a significant role as pharmaceutical additives in manufacturing of medicine and also used for enhancing solubility or bioavailability of poorly soluble drugs. Bio-surfactant plays a vital role in regulating the biological components of microorganism. For this reason they are used in the agriculture sector, to influence parasitism and antibiosis. The application of bio-surfactants is augmenting the growth of many industries, such as horticulture, textile, cosmetic, paints & coatings, plastics, etc. Hence, as the demand for bio-surfactants is growing rapidly in various applications, the market for bio-surfactants is projected to grow drastically during the forecast period.
Household Soap and Detergent -A Huge Market Potential
Surfactant is extensively used in household soaps & detergents. Among applications, household soaps & detergent segment dominates the market for surfactants. Detergent is usually a mixture of surfactants, used mainly for the purpose of cleaning, and is available in varying dilutions. Detergents consist of alkylbenzenesulfonates, which have chemical properties similar to soap, but with higher solubility in hard water. The surfactants incorporated in detergents and soaps mix with water, and attach themselves with the dirt on clothes and other cleaning surfaces. This helps reduce the surface tension and removes the dirt from the concerned surface. North America accounts for one-third of the global manufacturing for soaps and detergents.
United States Dominate the Market
United States is the largest consumer of surfactants in the North American region. Due to the expanding personal care and food processing industry in the country, the demand for surfactant is projected to increase during the forecast period. Surfactants are also increasingly used in lubricants and fuel additives, which is further increasing the usage of surfactant in the automotive industry. Hence, the country is also expected to witness highest growth during the forecast period.
Key Developments in the Market
September 2017: Stepan announced plans to acquire a surfactant production facility and portion of associated surfactant business in Mexico from BASF Mexicana SA de CV.
The major players include -Hunstman International LLC, BASF SE, AkzoNobel N.V., Stepan Co., Croda International, etc., among others.
North America Surfactant Market Report Summary
Stepan announced plans to acquire a surfactant production facility and portion of associated surfactant business in Mexico from BASF Mexicana SA de CV.
United States, Canada, Mexico, Rest of North America
Hunstman International LLC, Arkema, BASF SE, Clariant, AkzoNobel N.V., Stepan Co., Evonik Industries AG, Croda International, etc.. among others
Revenue forecast, industry competitiveness, value chain, major players, latest trends, and market dynamics
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Analyzing various perspectives of the market with the help of Porter’s five forces analysis
The application segment that is expected to dominate the market
Country that is expected to witness the fastest growth during the forecast period
Identify the latest developments, market share, and strategies employed by the major market players.
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