Surfactants Market worth $57.8 billion by 2028 | Key players BASF SE (Germany), Stepan Company (US), Evonik Industries AG (Germany), Nouryon (Netherlands).

According to recent market research the "Surfactants Market by Type (Anionic, Non-ionic, Cationic & Amphoteric), Application (Home Care, Personal Care, Industrial & Institutional Cleaning, Textile, Elastomers & Plastics, Agrochemicals, and Food & Beverage), and Region - Global Forecast to 2028", size was USD 43.5 billion in 2022 and is projected to reach USD 57.8 billion by 2028, at a CAGR of 4.9% from 2023 to 2028. The market is projected to grow because of rising demand from the personal care industry. Surfactants play a decisive role in the personal care industry and are broadly used in the formulation of various personal care products. In addition, due to including increasing population, urbanization, innovations, technological advancements and changing consumer preferences surfactants demand from the personal care industry is an increasing.

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Due to the ease of availability, low cost, and compatibility, low toxicity, and growing environmental concerns the anionic surfactants are widely used in different applications. These surfactants are used in applications such as home care, personal care, industrial & institutional cleaning, and others. Thus, the anionic surfactants type segment has largest share in type.

Home care, personal care, oilfield chemicals, agrochemicals, textiles, industrial & institutional cleaning, and others are various market segment based on the application. Among those segments, home care is projected to hold the largest market share of surfactants, during the forecast period. The high need for surfactants in home care products is basically because they help to reduce the surface tension of water and allow it to spread more easily. Due to this the surfactants are more suitable for cleaning products in home care.

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Asia Pacific is projected to be the largest market for surfactants. Due to the growing population in this region, the demand for surfactants in applications such as home care, textile, personal care, agriculture, and others in increased. Moreover, rise in exports and low labour cost specially in India and China, the demand for surfactants in Asia Pacific region is increased.

The key players profiled in the report include BASF SE (Germany), Stepan Company (US), Evonik Industries AG (Germany), Dow Inc. (US), Nouryon (Netherlands), and Solvay S.A. (Belgium).

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BASF SE is is one of the world's largest chemical companies, with a broad range product portfolio. Overall, its product range serves various industries including agriculture, automotive & transportation, chemicals, coating solutions, furniture & wood, home care and cleaning, nutrition, packaging & prints, paint & coatings, leather & footwear construction, electronics & electric, energy & resources, pharmaceuticals, plastics & rubber, pulp & paper, textile, and personal care & hygiene industries. It offers all type of surfactants such as anionic surfactants, cationic surfactants, non-ionic surfactants, and amphoteric surfactants. The company has a presence in 91 countries and operates at 239 production sites across regions. In March 2022, BASF launched new anionic surfactant, namely, Plantapon Soy. It is mainly derived from soy protein and has a 100% natural origin.

Stepan Company is a major manufacturer of specialty and intermediate chemicals. Under the surfactants business segment, the company offers full line of surfactants including anionic surfactants, cationic surfactants, non-ionic surfactants, and amphoteric surfactants. Moreover, it also makes custom surfactants and formulate blends to meet the customer requirements. The company manufactures surfactants at the US, Canada, the UK, France, Germany, Mexico, Brazil, and Colombia with its 14 sites. In September 2022, the company made and announcement that it has acquired the surfactant business and associated assets of Performant X Specialty Chemicals, LLC.

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