January 13th, 2023
he silicone surfactants industry size was valued at USD 2.04billion in 2021. The market size is expected to rise from USD 2.13billion in 2022 to USD 2.99billion by 2029 at a CAGR of 5.0% during the projected period. Fortune Business Insights™ publishes this information in a report titled, "Silicone Surfactants Market, 2022-2029". According to the report, the market is expected to rise during the forecast period due to increasing demand for personal care and skin care products.
Halt on Manufacturing Units Amid Pandemic to Restrict Market Growth
The COVID-19 pandemic affected many industries, including silicone surfactants during the first phase of lockdown. Strict restrictions imposed by governments affected import/export policies and disrupted the supply chain. Furthermore, production and manufacturing units were halted, due to which the industrial production rate declined at a fast pace. However, the demand for hygiene and home care products increased due to the demand for cleaning and maintenance during the pandemic. The healthcare essentials demand surged due to rising demand from healthcare service providers.
Emulsifiers Segment to Hold Dominant Market Share Due to Rising Demand for Personal Care Products
Based on application, the market is categorized into emulsifiers, foaming agents, solubilizers, and others. The emulsifiers segment is expected to dominate the market owing to the rising utilization of surfactants in the personal care and cleaning industries. The increasing demand for detergents, conditioners, lotions, and creams results in the market growth.
Personal Care Segment to Lead the Market Due to Increasing Consumption
On the basis of end-use, the market is segregated into refrigeration, construction, personal care, paints & coatings, and others. The personal care segment holds the leading market share owing to the rising use of silicone surfactants in hair care and skin care product manufacturing. Increasing changes in the lifestyle of the population and surging disposable income in emerging countries are expected to boost the segment growth during the projected period.
Geographically, the market share is segmented into North America, Europe, Asia Pacific, and Rest of the World.
Drivers & Restraints:
Increasing Demand for Home Care Products to Augment Growth
The market is anticipated to grow considerably owing to the rising demand for personal care and skin care among different age groups. Furthermore, the manufacturing rate for hair care, skincare, and grooming products is rising, which supports the silicone surfactants market growth during the projected period.
However, the availability of alternatives may hinder the market growth.
Asia Pacific Dominates Market Share Due to Economic Development
Asia Pacific dominates the global silicone surfactants market share due to surging demand for home care and personal care products. Furthermore, economic development in developing countries is expected to support regional market growth during the projected period. The regional market stood at USD 0.82 billion in 2021.
North America holds the second-highest global market share owing to the rising construction activities and development in healthcare infrastructure.
Strategic Acquisition Allows Key Players to Strengthen their Market Position
The key market players focus on collaborating with different companies to increase their productivity. Further, launching new products allow key players to improve their product portfolio and globalize their business. The companies implement various growth strategies such as strategic alliances, mergers, and partnerships with supporting organizations.
Key Industry Development:
March 2022: Dow launched a new product extension of VORASURF Silicone Surfactants to support the growing demand for enhanced energy efficiency and sustainable solutions in the rigid polyurethane foam market, focusing on spray and construction applications.
Information source: https://www.fortunebusinessinsights.com/silicone-surfactants-market-104900
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