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.
Increasing Consumption of Personal Care Products to Push Global Sodium Lauryl Sulfate Market Growth
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.
Growth in Per Capita Spending on Cosmetics
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.
Growing Demand for Industrial Cleaning Chemicals to Propel the Sodium Lauryl Sulfate Market
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.
Sodium Lauryl Sulfate Market: Competition Analysis
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.
Sodium lauryl sulfate is a highly effective anionic surfactant, mainly used in personal care products. It is also known as sodium dodecyl sulfate (SLS). SLS is available in the solid as well as liquid form. The consumption pattern of sodium lauryl sulfate depends upon the active content of the product. In term of application, sodium lauryl sulfate acts as a thickening agent, foaming agent, conditioning agent, and wetting agent in cosmetic products. Moreover, SLS is used in cosmetics products, industrial cleaners, soaps, detergents, etc., to make bubbles and foam.
Sodium lauryl sulfate is found in various industrial products, including engine degreasers, floor cleaners, and car wash products, where workplace protection can be implemented to avoid unsafe exposure. High volume of sodium lauryl sulfate in cosmetics or food products causes skin irritation and other health issues. Owing to this, SLS is listed under various regulations implemented by government agencies such as the FDA, Canada’s PMRA, etc.
The report on the global sodium lauryl sulfate market analyzed the market outlook for sodium lauryl sulfate for the next ten years, i.e. 2019-2029. The report displays market valued in US$ Mn and volume in metric tons. For the consumption of sodium lauryl sulfate, we have considered 2018 as the base year.
The global sodium lauryl sulfate market report has around 24 sections that describe the whole outlook of global sodium lauryl sulfate market. In the first section of the report, we included an executive summary of the sodium lauryl sulfate market. This section contains a snapshot of the global market, key trends, and influencing factors of the market.
In the second section of the global sodium lauryl sulfate market report, market taxonomy, definition, and segment-wise data points are included. The next section of the sodium lauryl sulfate market report includes the key success factors and market trends affecting the consumption patterns of sodium lauryl sulfate. The next section of the global sodium lauryl sulfate market report has the entire outlook of the market background. Under this, we have included GDP outlook by region, chemical industry outlook by region, cosmetics industry overview, population outlook, personal care market overview, manufacturing process, material balance of sodium lauryl sulfate, and patent analysis of the sodium lauryl sulfate market.
The next section of the global sodium lauryl sulfate market report includes value chain analysis, a list of suppliers/distributors, and Porter’s analysis for sodium lauryl sulfate. Further, the global report on the sodium lauryl sulfate market includes the market dynamics – drivers, restrains, trends, and opportunities for manufactures, forecast factors, and their impact on the market. The next section of the report includes the pricing analysis by region, global value (US$ Mn), and global volume (Tons) analysis for the historical as well as forecast years. In the following section of the report, the value and volume analysis by segment (product form, product grade, application, end use, and country) has been described for all regions – North America, Latin America, Europe, South East, East Asia, and the Middle East & Africa.
The next section of the report includes the emerging market analysis, and comparison analysis of emerging and global markets by value and volume. PEST analysis for emerging economies has been included under this section. In the final section of the global sodium lauryl sulfate market report, we have included the competition benchmark, market analysis by tier, market concentration, competition dashboard, volume analysis by production capacity, and company profiles of sodium lauryl sulfate market players.
In the competition analysis section, the report highlights some of the top companies operating in the global sodium lauryl sulfate market, such as 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.
Market volumes for sodium lauryl sulfate are inferred through in-depth secondary research and validated from primary resources and interviews We have collected the data from private as well as public sources, such as annual reports, newsletters, magazines, research papers, Factiva, BVD (Bureau van Dijk), etc. The price for sodium lauryl sulfate is analyzed on the basis of product form – solid SLS and liquid SLS, which is inferred across the all six regions. The global value of the sodium lauryl sulfate market is thus calculated from the data gathered from secondary as well as primary resources, utilizing average price and market volume
For the next 10 years forecast of the sodium lauryl sulfate market, various market viewpoints, macroeconomic factors, and challenging trends are observed. For forecasting the market, we have considered both, supply-side trends and demand-side trends, and other dynamics that have an impact on the sodium lauryl sulfate market.
Forecast has been conducted in term of CAGR, Y-O-Y growth, and absolute dollar opportunity, presenting the client with crystal-clear insights and future opportunities as far as the sodium lauryl sulfate market is concerned.