Sodium Lauryl Sulfate Market Share, Trends, Forecast 2027

Global sodium lauryl sulfate market was valued at around US$ 9.00 Bn in 2018 and is anticipated to expand at a CAGR of more than 4.0% from 2019 to 2027

ALBANY, NY, USA, September 2, 2020 /EINPresswire.com/ — Key Highlights

• In terms of value, the global sodium lauryl sulfate was valued at around US$ 9.00 Bn in 2018 and is anticipated to expand at a CAGR of more than 4.0% from 2019 to 2027
• The linear alkylbenzene sulfonate (LAS) segment held a major share of the global sodium lauryl sulfate market in 2018. The sodium lauryl ether sulfate (SLES) segment is expected to remain moderately attractive during the forecast period. It is expected to expand at a CAGR of more than 4% between 2019 and 2027
• developing economies of Asia Pacific, such as India, Vietnam, and Indonesia, are witnessing rise in the demand for anionic surfactants including SLS, SLES, and LAS
• Low manufacturing and labor costs and rate cuts in taxes imposed on detergent manufacturing are prompting market players to shift their production bases to countries in South Asia and Southeast Asia in order to achieve economies of scale. For instance, the Government of India slashed the goods & services tax (GST) applicable on detergents and other mass consumption goods from 28% to 18% in November 2018. As a result of the tax cut, players operating in the domestic detergent industry are planning to increase their production capacity
• Increasing demand for cost-effective surfactant ingredients with a high rate of biodegradability and superior cleaning properties is anticipated to present significant opportunities for the global sodium lauryl sulfate market during the forecast period of 2019 to 2027
• A continuous shift toward concentrated liquid and tablet detergents is likely to fuel the demand for sodium lauryl sulfate in the near future
• Threat of internal substitution in the sodium lauryl sulfate market is projected to be high from 2019 to 2027,trend of using mild and bio-based surfactants is gaining momentum in the market. This switch in the consumption trend is high in developed economies compared to developing economies, owing to buyers’ preference for low-priced products
• Demand for surfactants for use in cleaning products is expected to be driven by high focus on sustainability and multi-functionality during the forecast period, wherein product innovation remains vital for market participants to remain competitive. For instance, gradual shift toward consumption of more concentrated products and all-in-one solutions has been a notable trend in the recent years
• In developed markets, such as Western Europe and the U.S., the demand for sodium lauryl sulfate remains sluggish. Hence, it is vital for manufacturers to enhance their penetration in emerging markets in order to sustain long-term growth

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Detergents & Cleaners to be a Leading Application Segment of Global Sodium Lauryl Sulfate Market

• Based on application, the global sodium lauryl sulfate market has been segregated into detergents & cleaners, personal care, oilfield chemicals, textile & leather, and others (including paints & coatings, polymer additives, and agricultural chemicals)
• Among applications, detergents & cleaners was the dominant segment of the sodium lauryl sulfate market, accounting for over 50.0% of the market share in 2018
• SLES (Sodium Lauryl Ethyl Sulfate) is gaining immense usability, owing to its good solvency, wide compatibility, thickening effect, high biodegradability, and anti-hard water-ability. Its exceptional performance in terms of emulsification, decontamination, dispersion, and solubilizing and its foaming attributes are boosting the applicability of SLES in hand washing liquids, shampoos, and bubble bath liquids

Asia Pacific and North America Expected to be Lucrative Regions of Global Sodium Lauryl Sulfate Market

• Asia Pacific is expected to dominate the global sodium lauryl sulfate market, in terms of volume as well as value, in the near future
• Asia Pacific accounted for more than 30% share of the global sodium lauryl sulfate market in 2018.
• North America and Europe are attractive regions of the sodium lauryl sulfate market, owing to presence of established personal care and detergents industries in the region. However, rising trend of using sulfate-free personal care products in developed countries in Europe, such as the U.S, Germany, and France, is likely to hinder the overall demand for sodium lauryl sulfate in these countries during the forecast period 2019 to 2027
• India is projected to be a lucrative market for sodium lauryl sulfate during the forecast period. The country is a large untapped market with substantially low penetration of consumer appliances
• Emerging rural areas of India offer immense potential for the electronic appliances sector. Increasing demand for electronic appliances, such as washing machines, depicts a promising outlook for the detergents & cleaners industry in India. This, in turn, is expected to boost the market for sodium lauryl sulfate in India from 2019 to 2027

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Global Sodium Lauryl Sulfate Market -Key Developments

• Recently, the global sodium lauryl sulfate market witnessed several M&A activities. In 2018, the company acquired the surfactants division of BASF i.e. BASF Mexicana, S.A. DE C.V., which was based in Ecatepec, Mexico in order to strengthen its position in the Latin America market. This acquisition is expected to improve the company’s supply capabilities for surfactants and help it expand in both consumer products and functional products industries in the next few years
• In 2018, Oxiteno, a subsidiary of Ultra Group and a manufacturer of surfactants and chemicals, completed the production capacity expansion of its alkoxylation plant in Pasadena, Texas, the U.S.

Global Sodium Lauryl Sulfate Market: Competition Landscape

• The global sodium lauryl sulfate market features a highly fragmented competitive landscape with the presence of a large number of global and regional players. Some of the key players in the global Key players operating in the market are Kao Corporation, Nouryon, Croda International Plc., Huntsman International LLC, Galaxy Surfactants Ltd, Solvay, Evonik Industries AG, Clariant AG and many others

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Source: EIN Presswire