$ 1.5 bn Opportunity by 2024 in the Sodium Lauryl Ether Sulfate Market
Date: 2019-01-31   Author: Ronak Bora  Category: #market

$ 1.5 bn Opportunity by 2024 in the Sodium Lauryl Ether Sulfate Market

Sodium lauryl ether sulfate market will reach over USD 1.7 billion by 2024 according to this new research report.

The consumer awareness about personal hygiene is the prime factor for the rise in demand for the product. People have become conscious of their health regimes and have adopted a hygienic lifestyle. The product is used as a surfactant in household detergents which will be the major factor propelling the market growth.

The rising number of residential and commercial buildings will augment the demand for detergents. This will influence the product market positively. The infrastructural development is on the rise due to increased urbanization which will drive the demand for household cleaners. The detergents & cleaners have become an integral part of every household which will positively impact the product market.

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The booming personal care industry is another sector which will propel the market of sodium laureth sulfate. The rising disposable income of the people has led to an increased purchase power which will drive the demand of personal care products. Changing lifestyle and modernization are the factors which will propel the market for personal care products.

Stringent regulations regarding the use of the product in personal care items followed by U.S FDA and other governing authorities can potentially affect the market of sodium lauryl ether sulfate. According to Environmental Protection Agency, a concentration of above 5% of the product can cause hair loss and death in laboratory animals. The product can cause allergic reactions in few cases such as scalp irritation and can be carcinogenic, which can obstruct the demand for the product. Bio-based substitutes of the product can likely hinder the growth of the market.

The market segment of cleaners & detergents is expected to grow at a considerable pace and its revenue is anticipated to cross USD 0.65 billion in 2014. Personal care products are being used extensively across the globe which will cause the segment to grow at a noticeable CAGR of approximately 7%.

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Asia Pacific is estimated to witness robust market growth with the revenue of about USD 0.6 billion by 2024. The trend of using personal care products is increasing over the years which will drive the product market. Consumer perspective about the hygiene standards has significantly impacted the market in the region.  Europe is expected to register a market share of more than one-fifth of the overall market by 2024. The high standards of living of people in European countries will boost the demand of the product in the region.

The sodium lauryl ether sulfate market is relatively fragmented. Companies have been indulged in extensive research for the expansion of their businesses. The major manufacturers of the product are Evonik Industries, BASF SE, Stepan Company, Croda International, Clariant Corporation, The Dow Chemical Company, Huntsman Corporation, Godrej Industries, Galaxy Surfactants Ltd., Solvay, Taiwan NJC Corporation, Zhejiang Zanyu Technology, Ho Tung Chemical, Ultra Group, etc.

 

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About Author


Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for AlgosOnline and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport.

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