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Sodium Lauryl Sulfate Market Segmented By Solid and Liquid Form with Pharmaceutical and Technical Grade Applied for Thickening Agents, Conditioning Agents, Foaming Agents, Wetting Agents in Hair Care, Polymers, Soap and Detergents, Personal care and Cosmetics
The global sodium lauryl sulfate market accounted for around US$ 800 Mn in 2018, and is projected to grow at a CAGR of around 5.0% over 2019–2029. The solid form of sodium lauryl sulfate has around 70% active content in the product, which is the main factor leading to the preference for the solid form of sodium lauryl sulfate.
Growing urbanization, robust growth in the cosmetic industry, and modernization are the main influencers responsible for shifting consumer preferences, which is anticipated to propel the global demand for sodium lauryl sulfate. Growing FMCG (fast-moving consumer goods) sector is expected to surge the growth of the global sodium lauryl sulfate market during the forecast period.
Europe accounted for a prominent share as far as sodium lauryl sulfate consumption is concerned; however, the market in East Asia is projected to grow at a significant rate as compared to the rest of world.
The sodium lauryl sulfate market has been witnessing healthy growth, owing to the increasing consumption of personal care products and flexibility in feedstock availability in developed economies.
Increasing purchasing power of the middle class and growing urbanization have boosted the use of cosmetics across various end-use applications, thereby driving the sodium lauryl sulfate market at regional levels. Increasing production of beauty products is expected to propel the demand for sodium lauryl sulfate during the forecast period, i.e. 2019-2029.
Rising awareness regarding home cleanliness and the increasing need for disinfection are expected to lift the demand for home care and surface disinfectants in the future. The rapidly growing geriatric population has resulted in the rise of chronic diseases and health issues. This is anticipated to generate demand for pharmaceutical grade sodium lauryl sulfate.
Increasing disposable income together with interventions to improve children health have positively surged the demand for homecare chemicals. Furthermore, in developing as well as developed economies, there has been huge growth in per capita cosmetic spending, which is anticipated to further fuel the demand for cosmetic ingredients, which, in turn, is expected to drive the demand for sodium lauryl sulfate during the forecast period
Stringent government regulations regarding the manufacturing of products, and maintenance of hygiene & safety in food, pharmaceutical, and biotechnology industries, have resulted in more attention being given to manufacturing processes as well as workplace safety. Even minor contamination during product manufacturing can lead to serious health issues.
In these industries, more emphasis is placed on proper hygiene and providing an antibacterial environment for R&D activities. Thus, the usage of sodium lauryl sulfate is rising.
According to the U.S. Food and Drug Administration (FDA), all the required manufacturing standards related to hygiene and safety have been specified to food and beverage product manufacturers.
Thus, due to these aforementioned facts, it is expected that, the demand for surface disinfectant chemicals will increase, which, in turn, will result in the increasing demand for sodium lauryl sulfate as an ingredient, during the forecast period.
Some of the top key players operating in the sodium lauryl sulfate market include BASF SE, Solvay SA, Clariant AG, DowDuPont Inc., Croda International Plc, Stepan Company, Galaxy Surfactants Ltd, Godrej Industries Limited, Kao Corporation, Huntsman International LLC, Clariant AG, Lubrizol Corporation, Sasol Limited, New Japan Chemical Co., Ltd., Aarti Industries Limited, Sinopec Jinling Petrochemical Co., Ltd, and Reliable Biopharmaceutical LLC, among others.
These key players in the sodium lauryl sulfate industry are emphasizing on product innovation, research and development activities, and expansion of production volumes to cater to the increasing demand for sodium lauryl sulfate.
Expanding the product portfolio along with quality products can be a differentiating strategy for growth in the sodium lauryl sulfate market. Moderate to high competitiveness has been observed in the sodium lauryl sulfate market, along with increasing opportunities in cosmetics and pharmaceutical producing regions.