The global market for silicone surfactant is expected to grow at a CAGR of over 3% during the forecast period. The major factor driving the market studied is a growing demand from the personal care industry. On the flip side, unfavorable conditions arising due to the COVID-19 outbreak is hindering the growth of the market.
The personal care industry is expected to account for the largest share of the silicone surfactant market over the forecast period.
Asia-Pacific is expected to dominate the global silicone surfactant market and is also forecasted to be the fastest-growing market during the forecast period owing to the increasing consumption for countries such as China and India.
Key Market Trends
Increasing demand from the Personal Care Industry
- Personal care represents one of the major end-user industries for silicone surfactants.
- Personal care products include a variety of body care, as well as hair care products. Shampoos, hair conditioners, body washes, and soaps, along with other skincare products, among others.
- Silicone surfactant is used as an ingredient in a variety of products, such as foaming agents, dispersants, emulsifiers, solubilizing agents, cleansers, and conditioners, among others, in the personal care industry.
- Globally, the personal care industry is growing at a significant rate due to increasing awareness regarding the importance of personal hygiene and grooming among the youth.
- Asia-Pacific and North America are the dominant regions in the personal care market. In Asia-Pacific, China occupies the largest share, followed by India, in terms of growth rate, India is expected to witness the fastest growth over the forecast period.
- Therefore, the growing demand from personal care industry is expected to boost the demand for silicone surfactant in coming years.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific region is expected to be the largest market for silicone surfactants and is also forecasted to be the fastest-growing region during the forecast period.
- Personal care*is one of the fastest-growing sectors in countries such as China, India, etc. Continuous growth in population is another factor fueling the demand for personal care, soaps, and detergents in these countries, which, in turn, is augmenting the market studied.
- India is one of the largest producers of soaps and detergents, globally. The soap manufacturing industry is one of the oldest industries operating in the FMCG sector in India and accounts for more than 50% of the consumer goods sector.
- The laundry detergent market in India is expanding at a rapid rate. The growth in market demand for washing machines has recently expanded at an impressive rate in the country. The growing penetration of washing machines is in-turn increasing the demand for laundry detergents, along with liquid detergents.
- China is one of the major countries in Asia-Pacific with ample construction activities, with the industrial and construction sectors accounting for approximately 50% of the GDP. A total of 300 major construction projects in Beijing have been announced in 2019.
- China is the largest clothing producer in the world and has the largest production capacity for textile products, consisting of cotton, manmade fibers, and silk.
- However, the textile and apparel producers in the country are going through a painful industrial restructuring. Enormous production capacity, domestic oversupply, and high labor costs have all eroded the competitiveness of this industry.
- Therefore, growing demand from various end-user industries is expected to boost the demand for silicone surfactant in Asia-Pacific region.
The global silicone surfactant market is partially fragmented in nature. The major companies are Evonik Industries AG, Innospec, Momentive, Elkem Silicones, and Shin-Etsu Chemical Co., Ltd. among others.
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support