Global Specialty Surfactants Market – Overview
The specialty surfactants market caters to a variety of industries including textiles, construction, paints and coatings, polymer, emulsions, oilfield chemicals, institutional cleaners, industrial cleaners, home care, food processing, and personal care among others. With such wide range of prominent end use sectors, naturally, the growth of the global specialty surfactants market is on course to achieve stellar valuation in the coming years of the forecast period.
Global Specialty Surfactants Market – Notable Developments
The companies in the global specialty surfactants market are putting great focus on product innovation. They are investing heavily on research and development activities and superior quality product offerings so as to set themselves apart from their competitors. The companies in the global market are also resorting to aggressive growth strategies such as mergers, acquisitions, takeovers, and strategic alliances in order to gain competitive advantage over their rivals.
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- Recently, BASF SE announced that the company has taken over Cognis. This acquisition will improve the overall product portfolio of the company and drive its innovation efforts.
Global Specialty Surfactants Market – Drivers and Restraints
There are numerous different factors that are helping to drive the overall growth of the global specialty surfactants market in the coming years of the forecast period. One of the key driving factors for the market growth has been the increasing popularity bio-based surface active agent. Another important growth factor is the lower prices of artificial wetting agents. Moreover, improving disposable income and easy accessibility of these products are also key driving factors for the development of the global specialty surfactants market.
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In recent years, there has been an increasing demand for renewable goods that are safer to use and cause less or no harm to the environment. This demand is expected to create lucrative growth opportunities for the development of the global specialty surfactants market in the coming years of the forecast period. Furthermore, there has been a growing onus on initiating research and development activities in order to create wide range of value-adding products. This too is expected to create growth opportunities in the global market. Increasing use of surfactant blends that offer more efficient and cost-effective results along with launch of concentrated cleaners to cut down costs are some the other key trends and driving factors observed in the global market.
There are however, some restraining factors for the growth of the global specialty surfactants market. One key restraining factor is of strict regulatory checks and norms in place which delays the time to market. Moreover, adverse impact of some specialty surfactants on the environment is also expected to impede the market growth in coming years.
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Global Specialty Surfactants Market – Geographical Outlook
There are five main regional segment of the global specialty surfactants market. These regional segments are Latin America, Europe, Middle East and Africa, North America, and Asia Pacific. Currently, the global market is being dominated by the regional segment of Asia Pacific. The region accounts for the largest share in the global market and is followed by North America. Increasing demand for specialty surfactants is because of the growing popularity of household detergents and personal cleaning detergents in the region. Majority of the demand for these products come from these sectors. It is projected that the regional segment of Asia Pacific will continue to account for a larger and dominant share in the global specialty surfactants market in the coming years of the forecast period. The demand from North America is also expected to remain steady over the given period of forecast.
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