Pune, India, June 29, 2021 (GLOBE NEWSWIRE) -- The global natural surfactants market size is expected to gain momentum by reaching USD 24.78 billion by 2028 while exhibiting a CAGR of 3.9% between 2021 and 2028. Fortune Business Insights in its report, titled “Natural Surfactants Market Size, Share & COVID-19 Impact Analysis, By Product (Anionics, Nonionics, Cationics, and Amphoterics), By Application (Detergents, Industrial & Institutional, Personal Care, Oilfield Chemicals, and Others), and Regional Forecast, 2021-2028.”, mentions that the market stood at USD 18.16 billion in 2020. Factors such as the high demand for renewable petroleum biotechnology across the oil industry and the increasing demand for detergents are anticipated to favor the demand for the product globally. Biosurfactants are extensively adopted across the oil refining chain and in petrochemical component formulations. They act as effective emulsifying/demulsifying agents, biocides for sulfate-reducing bacteria, anticorrosive, fuel formulation, and bitumen extraction from tar sands. Therefore, their growing adoption is likely to play a pivotal role in positively driving the market.
The drastic effect of the global pandemic, COVID-19, has been felt across several economies facing unprecedented loss. The lockdown imposed by the government agencies has led to several industries facing halted industrial operations. However, a collective effort from the government and the industries is likely to bring the economy back on track and aid in the resumption of industrial activities.
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Based on product, the market is segregated into detergents, industrial & institutional, personal care, oilfield chemicals, and others. Besides, on the basis of application, the market is divided into detergents, industrial & institutional, personal care, oilfield chemicals, and others.
Based on application, the detergent segment held a global natural surfactants market share of about 45.7% in 2020. The segment is likely to dominate backed by the growing demand for washing machines in the developing economies. This is further expected to propel the demand for advanced natural detergents worldwide.
Finally, based on the region, the market is divided into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
What does the Report Include?
The market report includes qualitative and quantitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to announce partnerships, introduce new products, and collaborate to further contribute to the growth of the market between 2021 and 2028. Moreover, the research analyst has adopted several research methodologies to extract information about the current trends and industry developments that will drive the market growth during the forecast period.
Increasing Demand for Natural Detergents to Augment Growth
There are several types of detergents such as dishwasher detergents, laundry detergents, and carpet cleaners. The primary role for these detergents is to remove dirt from fabrics and ensure that the fabrics remain smooth. The detergent industry accounts for over half of all-natural surfactant consumption globally. In addition to this, rapid-paced urbanization is leading to the rising number of smart cities and the increasing disposable income is driving the demand for advanced washing appliances. These factors are expected to contribute to the global natural surfactants market growth during the forecast period.
Europe – The region stood at USD 6.87 billion in 2020 and is expected to hold the highest position in the market during the foreseeable future. This is attributable to the high demand for detergents and oilfield chemicals that is propelling the adoption of these surfactants in the region.
North America – The market in the region is expected to showcase considerable growth backed by the growing consumer demand towards bio-based ingredients across the personal care segment.
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Partnership by Major Companies to Brighten Their Market Prospects
The global market comprises small, medium, and large companies striving to maintain their presence by partnering other companies to develop innovative products to cater to the growing demand from the end-users worldwide. Moreover, other key players are adopting strategies such as merger and acquisition, the introduction of new products, and facility expansion that will contribute to the growth of the market during the forecast period.
List of the Companies Profiled in the Market for Natural Surfactants:
Key Industry Development:
March 2021 – BASF partnered with Allied Carbon Solutions Co. Ltd., a leading biomass-based surfactant manufacturing company. The partnership is aimed at developing advanced products such as sophorolipids, along with cooperating on technological terms to introduce innovative products.
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