The presence of a large number of small and large, and regional and global manufacturers and suppliers of sulfosuccinate surfactants globally has rendered the global sulfosuccinate market largely fragmented and intensely competitive, observes Transparency Market Research in a recent report. To gain a competitive advantage and acquire new consumers, companies are focusing on improving their manufacturing capacities and offering innovative products and solutions. Moreover, focus on the development of bio-based products to reach out to a rising consumer base for environment-friendly chemicals is also rising. Some of the leading companies in the market are The Dow Chemical Company, Cytec Solvay Group, Stepan Company, Huntsman Corporation, Cytec Industries Inc., Rhodia, Croda International Plc, Lonza, and MFG Chemical Inc.
According to the report, the global sulfosuccinate market will expand at a promising CAGR of 5.3% from 2015 to 2023, rising to a valuation of US$446.2 mn by 2023.
Of the key applications of sulfosuccinate surfactants, their use in the production of household detergents and cleaners helped the global sulfosuccinate market acquire nearly 40% its revenue in 2014. The segment is expected to remain one of the leading consumers of sulfosuccinate surfactants over the report’s forecast period as well, contributing a significant share to the global revenue by the end of the forecast period.
From a geographical perspective, the market for sulfosuccinate in Europe held nearly 35% of the overall market in 2014 in terms of volume. The steadying industrial sector in the region is one of the key factors to have driven the sulfosuccinate market. Furthermore, the steady expansion of the laundry industry is also expected to emerge as one of the leading contributors of growth drivers for the regional sulfosuccinate market over the forecast period.
One of the key factors driving the global sulfosuccinate market is the rising consumption of specialty detergents and cleaning agents globally and the increased demand for personal care products across emerging economies. Sulfosuccinates are known to have good cleansing properties and are mild to the skin. Sulfosuccinate surfactants are also known to lead to comparatively less irritation to the eyes and skin when other anionic surfactants are considered. Owing to these features, their usage is high in the personal care sector for products such as creams and cosmetics. As the demand for these products continues to rise across the globe, thanks to macro-economic factors such as rising disposable incomes of the global population, rise in number of products and hence reduced costs, and rising investment in the personal care sector owing to rising consumption, the demand for sulfosuccinate surfactants is also expected to surge.
The growth potential of the global sulfosuccinate market could be hindered to a certain degree owing to a visible transition in preferences from synthetic, non-renewable products across a number of industries. Moreover, stringent environment-protection regulations across a number of developed and developing markets could also hamper the growth prospects of the global sulfosuccinate market in the next few years. Nevertheless, the market could benefit from the rising uptake of sulfosuccinate surfactants in the field of enhanced oil recovery.