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Secondary Alkane Sulfonate Market Size 2024 - What Are The Main Factors That Contributing Towards Industry Growth?

Author : Ronak Bora | Published Date : 2019-06-06 

North America Secondary Alkane Sulfonate Market Size is probable to witness moderate gains up to 3.5% CAGR over the forecast period. Escalating regional customer base for the personal care segment will fuel the industry growth by 2024. The SAS is popularly used in the cosmetic products like shampoos, shaving cream and bar soaps owing to its moisturizing, emulsifying and foaming traits. This represents brighter growth trends for the product in the coming years.

The household detergents & cleaners segment held the largest share for SAS market in 2016, by accounting for 40% of the worldwide volume. The global household detergents market industry is likely to experience growth over 6% by 2024 which would contribute to further business growth across the globe.

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Global secondary alkane sulfonate market share was led by Asia Pacific in 2016. In addition, the region, mainly led by China and India, captured more than 40% of the total business share in the same year. Growing Population in China and India, rapid industrialization & urbanization, escalating food & beverage business and growing consumer awareness towards cleanliness are the prime factors propelling Asia Pacific secondary alkane sulfonate market size in the recent years. Furthermore, expanding personal care product customer base in the region will stimulate business growth 2024, as the product is used in cosmetic products such as bar soaps, shampoos and shaving cream due to its foaming, moisturizing and emulsifying traits. However, North America will experience moderate gains close to 3.5% CAGR over the forecast timespan.

Asia Pacific has proved to be a strong contender in the overall Secondary Alkane Sulfonate Market space. Covering almost 40% of the overall industry share, APAC secondary alkane sulfonate market dominated the global business landscape in 2016. Comprising some of the most developing countries like India and China where consumers spending capacity and living standards are on a growing path, household detergents and personal care products observes increasing sales in these regions. This the prime ground that impels the regional SAS market. In addition to this, supportive initiations by the governments to expand the SAS manufacturing business will further complement the industry outlook.

In 2015, secondary alkane sulfonate size was competitive. Key companies participating in the business are BIG SUN Chemical Corporation, Clariant Corporation, The WeylChem Group, Lanxess AG, Rajvin Chemicals, and Acar Chemicals.

With global soaps and detergents industry experiencing a stable growth, secondary alkane sulfonate (SAS) market is forecast to chalk substantial gains in the coming seven years, subject to the chemicals’ extensive utilization in soaps and detergents business sphere. The surging demand can be credited to the products’ improved functionalities pertaining to water solubility, foaming characteristics, low additive solvency, and excellent wetting action. Increasing detergent demand across diversified platforms-textile, paper & pulp, hospitality, and laundry services is in way widening the growth opportunities for SAS market. Not only external domains, the demand is also witnessing a surge from domestic sector as well. Global household detergents market demand which is rising high is anticipated to play a pivotal role in secondary alkane sulfonate market growth path.

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Over the years, food and beverage sector has been turning out to be a significant avenue influencing the overall industry share. With growing emphasis on hygiene and cleanliness, food and beverage industry has undergone a paradigm shift in the business model, leaving a subsequent impact on secondary alkane sulfonate market size. This is due to the fact that SAS is extensively used in dish washing liquids across F&B sector. Along with this, several mandatory norms enforced by FDA regarding hygiene maintenance in food processing will open up new growth opportunities for secondary alkane sulfonate market.

Secondary alkane sulfonate market from industrial cleaners will also record an upswing in the coming years, with a projected CAGR of 4% over 2016-2024. With the globe treading on the path of rapid industrialization, industrial cleaners demand has observed a notable rise. Industry giants have been utilizing these cleaners to remove tints caused by oil and grease.

Personal care sector is also an important ground in the overall secondary alkane sulfonate market’s application spectrum. With a significant economic development, living standards of the consumers has also enhanced, the driving factor influencing the market augmentation from this domain. Some of its superb characteristics like emulsifying, foaming, and moisturizing nature have resulted in its extensive deployment in cosmetic products such as shampoos, shaving creams, soaps etc. As per estimates, global cosmetic industry collected a massive revenue of USD 220 billion in 2016, which parallelly have left an impact on SAS market as well.

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org 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. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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