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Sulfosuccinate Market in pharmaceuticals applications to grow at 5% CAGR till 2024

Author : Ronak Bora | Published Date : 2019-05-02 

As per Global Market Insights, Inc., “Global sulfosuccinate market was worth over USD 284 million in 2015 and is predicted to grow at a rate of 6% over the coming seven years.” Sulfosuccinate Market revenue will exhibit a remarkable growth over the period of 2015 to 2024, owing to its increasing demand across pharmaceuticals and personal care industries.

Cosmetics is one of the foremost industries generating a heavy demand for sulfosuccinates, owing to its excellent hydrating, emulsifying, and dispersing characteristics. The global skin care business with target revenue of USD 150 million by 2024, will build a profitable base for the global sulfosuccinate industry.

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Rising consumer awareness pertaining to health and hygiene will further enhance worldwide sulfosuccinate based product demand. Beneficial features associated with these products such as low critical micelle concentration and high biodegradability will drive the sales.  However, the environmental concerns regarding the usage, production, and disposal of these products is likely to hinder the industry growth over the years to come.

In terms of applications, sulfosuccinate market is segmented into Industrial cleaners, pharmaceutical, paints & coatings, farming, dish washing liquids, leather, personal care products, textiles, polymers, printing, and household detergents & cleaners. Pharmaceutical application will exhibit an annual growth rate of more than 5% over the period of 2016 to 2024, owing to the wide usage of sulfosuccinate as emulsifier and lubricant in syrups and tablets respectively.

In 2015, North America, chiefly led by the U.S. sulfosuccinate market share generated revenue close to USD 55 million. Growing pharmaceutical sector in the region is analyzed to be one of the factor contributing to growth in the region.

Europe dominated the global sulfosuccinate market share in 2015. Europe will retain its dominance by 2024, being the largest producer & consumer of personal care goods.

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Asia Pacific, dominated by China and India, will be the fastest growing region over the forecast timeframe, at over 6.5% growth. Rising disposable income has positively influenced the personal care and healthcare sector in the region, and is likely to boost industry growth in the region.

Sulfosuccinate market share was highly competitive in 2015. The major industry contributors include The Dow Chemical Company, Huntsman Corporation, Stepan Company and MFG Chemicals. These companies have presence across several stages in the industry ecosystem, which the industry competitive.

About Global Market Insights

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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