Sulfosuccinate Market is Expected to Reach US$ 446.2 Million in 2023

0
14

Transparency Market Research has published a new report titled “Sulfosuccinate Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023.” According to the report, the global sulfosuccinate market was valued at US$ 271.5 Mn in 2013 and is anticipated to reach US$ 446.2 Mn by 2023, expanding at a CAGR of 5.3% between 2015 and 2023.

Sulfosuccinates are sodium salts of alkyl ester of sulfosuccinic acid. Sulfosuccinic surfactants are widely used in the cosmetic industry to improve the mildness of personal care products. Sulfosuccinates are similar to alkyl sulfonates and are based on the petro chemically derived maleic acid anhydride.

Sulfosuccinate surfactants possess excellent foaming, wetting, emulsifying, and solubilizing properties. Additionally, these surfactants exhibit high surface activity, biodegradability, and low critical micelle concentration. They are used in various types of cleansing formulations, household detergents & cleaners, industrial cleaners, textiles, pharmaceuticals, polymers, paints & coatings, leather, printing, and agriculture.

Rising acceptance of specialty detergents & cleaning agents and the upsurge in the demand for personal care products is anticipated to boost demand for sulfosuccinates. However, the industrial shift towards bio-based surfactants is expected to retard the growth of sulfosuccinates in the near future. In addition, the environmental and regulatory issues are likely to baffle the demand for sulfosuccinates in the next few years. Nonetheless, increasing demand for sulfosuccinate in enhanced oil recovery may open new avenues for the market within the forecast period.

Household detergents & cleaners accounted for approximately 40% of the market share in 2014 and was the largest end-user segment in the global sulfosuccinate market. Population growth and increasing disposable income are expected to remain the major drivers of the household detergents & cleaners segment detergent market. This, in turn, is estimated to drive the sulfosuccinate market. As most sulfosuccinates are good foaming agents, and are mild to skin and eyes, they find extensive application in the personal care segment. Thus, personal care segment is anticipated to witness fastest growth during the forecast period.

In terms of volume, Europe dominated the global sulfosuccinate market with over 35% share in 2014. Significant industrial growth is the one of the major factors driving the sulfosuccinate market in the region. Furthermore, growth in the laundry industry in Europe is likely to augment the sulfosuccinate market, as cleanliness and hygiene are highly valued in Europe. Economies such as China, India, Thailand, South Korea, and Indonesia are expected to drive the sulfosuccinate market in Asia Pacific in the near future. Additionally, rise in demand for personal care products is projected to boost the sulfosuccinate market in the region.

Major players in the sulfosuccinates market include Cytec Industries Inc., The Dow Chemical Company, Stepan Company, Rhodia, Lonza Group Ltd, Croda International Plc, MFG Chemical Inc., and Huntsman Corporation.

Request a PDF Brochure with Research Report Analysis @ https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=5036

Leave a Reply