The global surfactants market to grow at a CAGR of 5.24% during the period 2017-2021.
Global Surfactants Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
One trend in the market is increase in R&D activities. Major surfactants vendors have increased their R&D expenditure to reduce the manufacturing cost and provide products with enhanced properties and use. The increasing R&D expenditure is a major trend being witnessed by the global surfactants market in the recent years.
According to the report, one driver in the market is growing demand for personal care products. The growing demand for surfactants in personal care application is owing to the growing use of cosmetics and personal care products such as hair care, skin care, and baby care among others. Surfactants clean and produce foam in shampoos, shower gels, and hair conditioners. The mild shampoos with surfactants are gentle to the skin and offer low irritancy to the skin. The market for personal care products in 2016 was $420 billion and will grow with a CAGR of 3.5% during the forecast period.
Further, the report states that one challenge in the market is high manufacturing cost of bio-based surfactants. Bio-surfactants are more expensive as compared to the traditional synthetic counterpart. The raw material prices and economies of scale of bio-surfactants are two major factors contributing to the high cost of production.