Silicone surfactants market to rise at a CAGR of 6.5% by 2022
According to the new market research report "Silicone Surfactants Market by Application (Emulsifiers, Foaming Agents, Defoaming Agents, Wetting Agents, Dispersants), End-Use Industry (Personal Care, Construction, Textile, Paints & Coatings, Agriculture), and Region - Global Forecast to 2022", is estimated to be USD 151.7 Million in 2018 and is projected to reach USD 207.5 Million by 2022, at a CAGR of 6.5% from 2018 to 2022.
The growth of the silicone surfactants market can be attributed to increasing demand for silicone surfactants from the personal care and other end-use industries. Stringent environmental regulations against the use of conventional surfactants provide a prospect for growth to the silicone surfactants market.
The emulsifiers application segment is estimated to lead the silicone surfactants market in 2018, and this trend is expected to continue during the forecast period as well. The growth of this segment can be attributed to the increasing use of silicone surfactants in the personal care, construction, and paints & coatings industries. Features such as spreadability and softness make silicone surfactants preferable for use as emulsifiers in personal care products, polyurethane foams, and coatings, among other applications.
Based on end-use industry, the personal care segment is estimated to lead the silicone surfactants market in 2018, and this trend is expected to continue in the coming years. The growth of the personal care segment can be attributed to the increasing use of silicone surfactants in skincare, haircare, and personal hygiene products. Growing demand for personal care products from the emerging economies, such as China and India, is fueling the growth of the personal care industry.
The Asia Pacific region is estimated to lead the silicone surfactants market in 2018 and is expected to continue its dominance in the near future. The upsurge in the number of working women and increasing e-commerce activities have led to the rise in demand for personal care products in this region.
The high demand for silicone surfactants from the personal care industry in countries, such as China and India, is a key factor driving the growth of the Asia Pacific silicone surfactants market. Key players operating in the silicone surfactants market include Evonik Industries (Germany), Dow Corning (US), Momentive Performance Materials (US), Wacker Chemie (Germany), Innospec (US), Shin-Etsu Chemical (Japan), Siltech (Canada), Elé (US), Elkem (France), Supreme Silicones (India), Silibase Silicone (China), Jiangsu Maysta Chemical (China), Elkay Chemicals (India), Hangzhou Ruijiang Performance Material Science (China), Harcros Chemicals (US), and SST Australia (Australia).
Source: Rubber World Magazine