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Sodium Lauryl Sulfate Market Size will register significant gains over the projected time period 2019- 2024

Author : Ronak Bora | Published Date : 2019-06-03 

Worldwide Sodium Lauryl Sulfate Market size, having had a revenue of USD 450 million in 2015, will generate a significant valuation by 2024, growing at a CAGR of more than 5% over 2016-2024. The rising requirement to maintain workplace & household cleanliness will stimulate sodium lauryl sulfate (SLS) market, pertaining to the fact that SLS is one of the main constituents of various detergents and cleaners. Of late, there has been a growing concern among consumers regarding environmental cleanliness and a healthy livelihood, which will undeniably enhance the product demand. Regional governments have also been undertaking initiatives regarding the same and have deployed strict regulations to maintain cleanliness, thereby propelling sodium lauryl sulfate industry share. The increasing requirement of household detergents and cleaners in various sectors is also slated to create lucrative opportunities for SLS industry giants.

Emerging nations across the globe are fueling the requirement for personal care products and detergents on a large scale subject to the improving purchase parity of consumers. This factor will also impel Asia Pacific sodium lauryl sulfate market size, which was worth more than USD 100 million in 2015. This regional business is anticipated to generate significant revenue by 2024, with an annual growth rate of 5% over 2016-2024, owing to the implementation of strict norms to maintain cleanliness and hygiene.

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Escalating commercialization of hair care and dermal products across the world will stimulate the demand for personal care products noticeably. Consumers have been giving preference to personal care products such as soaps, scrubs, shampoos, facial creams, bath bombs, which will augment SLS industry growth, owing to the fact that SLS is primarily used in various personal care products. As per estimates, sodium lauryl sulfate market share from personal care applications generated a revenue of USD 90 billion in 2015 and will register considerable annual growth rate over the coming timeframe. Moreover, growing consciousness among the people about their personal health and hygiene will influence the market share positively.

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.

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In 2024, Asia Pacific sodium lauryl sulfate market, led by India and China, will record a revenue over USD 300 million. Developing living standards of the middle-income group population along with recognition of the benefits of the product will augment the regional industry growth in coming years.

Key sodium lauryl sulfate market participants include BASF SE, Solvay S.A., The Dow Chemical Company, Sasol, Huntsman Corporation, Stepan Company, Croda International, Clariant Corporation, Oxiteno, Godrej Industries, Galaxy Surfactants, Kao Corporation, Taiwan NJC Corporation, Miwon Commercial Co. Ltd., Xiamen Ditai Chemicals Co. Ltd., and Melan Chemical Co. Ltd.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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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