Sodium Lauryl Sulfate (SLS) Market to amass a large share via household detergents & cleaners applications over 2016-2024, APAC to be a major regional revenue contributor
Publisher : Fractovia | Published Date : 2017-05-11Request Sample
The growth of Sodium Lauryl Sulfate (SLS) Market is directly proportional to the surging global demand for personal care items, dish washing liquids, industrial cleaners, and household detergents & cleaners. The product’s exceptional foaming and wetting features have made it highly popular across the paints & coatings, polymer additives, and rubber sectors. In 2015, the worldwide demand for household detergents was over 30,000 kilotons. This figure is expected to rise considerably in the future, thereby generating lucrative opportunities for the SLS business. Mounting consumer awareness pertaining to health and sanitation in the developing nations of APAC, MEA, and LATAM will considerably influence market demand. According to Global Market Insights, Inc., “Sodium lauryl sulfate (SLS) industry is anticipated to cross the revenue margin of USD 700 million by 2024, growing at a rate of 5% over 2016-2024.”
China Sodium Lauryl Sulfate (SLS) Market size, by application, 2013 – 2024 (USD Million)
SLS market revenue from the personal care sector, worth USD 90 million in 2015, is predicted to grow at a rate of 5% over 2016-2024, subject to the product’s numerous applications in scrubs, toothpastes, shampoos, face wash, and soaps. Heavy demand for hair care items and dermal products is also projected to significantly contribute towards the revenue.
Household detergents & cleaners sector, which contributed to more than 40% toward global sodium lauryl sulfate industry share in 2015, is estimated to witness a rapid expansion over the coming years. A steep rise in the global population across the developing regions will spur the product demand.
Considering the geographical landscape, Asia Pacific sodium lauryl sulfate industry, which accumulated a revenue of over USD 100 million in 2015, is foreseen to register notable gains of 5% over the coming timeframe. This regional market is likely to touch the revenue margin of USD 300 million by 2024. Consumer awareness regarding the product benefits, the escalating demand for personal care items and detergents, and the rising per capita income will contribute significantly toward the regional revenue.
Favorable government programs to promote clean infrastructure will augment the industry growth in the APAC region. China, Japan, and India are likely to contribute to a major portion of the regional share. Sodium lauryl sulfate market in North America, which accounted for 15% of global SLS market size in 2015, is likely to demonstrate a moderate growth over the coming seven years. The U.S. is expected to drive the regional growth.
Sodium lauryl sulfate products are available in dry and liquid forms. Major dry types include granules, powder, and needles. Dry sodium lauryl sulfate industry, which produced a revenue of USD 250 million in 2015, is forecast to grow at an annual rate of 5% during the period from 2016 to 2024. The growth can be attributed to extensive product usage across nutraceuticals, detergents & cleaners, and rubber industries. Needle SLS market is expected to collect a revenue of more than USD 150 million by 2024, while powder SLS industry will produce an income of over USD 380 million by 2024.
Liquid sodium lauryl sulfate market, which hit a revenue of USD 200 million in 2015, will depict a remarkable progress over the years ahead. The growth can be accredited to the product’s extensive utilization in creams and pearlescent & opaque items. These products can be easily combined with other elements or compounds and are cost-effective as compared to the dry products.
Industry participants will try to acquire a major portion of the market share by implementing key business growth strategies such as joint ventures, strategic partnerships, product benchmarking, product differentiation, new product launches, pricing, high R&D investments, and mergers & acquisitions.
The Dow Chemical Company, Miwon Commercial Company Limited, Stepan Company, Croda International Plc, BASF SE, Huntsman Corporation, Xiamen Ditai Chemicals Company Limited, Kao Corporation, Taiwan NJC Corporation, Solvay S.A., Oxiteno, Galaxy Surfactants Limited, Clariant Chemicals Company, Godrej Industries Limited, Melan Chemical Company Limited, and Sasol Limited are the major players of sodium lauryl sulfate market.
