Sodium Lauryl Ether Sulfate (SLES) Market to witness appreciable growth via surging demand for detergents and cleaners over 2016-2024
China SLES Market Size, By Application, 2013 – 2024 (USD Million)
Growing industrialization and urbanization across the globe are the key factors influencing product demand positively. The numerous lifestyle changes that consumers have adopted of late have led to an increase in their spending capabilities as well. People have now begun to give preference to personal and organizational cleanliness. On these grounds, Asia Pacific sodium lauryl ether sulfate industry will register an annual growth rate of above 5% over the coming seven years, having accounted for more than 30% of the global share in 2015. This growth can be credited to the increasing awareness among the APAC population with regards to residential, institutional, and personal hygiene.
Pertaining to the superior lathering and foaming properties, SLES products are primarily used in various personal care products such as facial cleansers, body washes, soaps, creams, toothpastes, shampoos, and lotions. Personal care products covered 25% of the overall sodium lauryl ether sulfate (SLES) market share in 2015 and will generate a significant revenue with a CAGR of more than 6% over the coming timeframe. Surging acceptance of the product across the developing countries will augment sodium lauryl ether sulfate industry growth. Europe is the main base of most of the industry giants in the personal care manufacturing sector, owing to the increasing demand for the personal care products across this region.
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Europe sodium lauryl ether sulfate industry collected a revenue of USD 250 million in 2015 and is slated to generate considerable revenue with an annual growth rate of above 4.5% over 2016-2024. High living standards along with increasing consciousness among the people about cleanliness and personal care will boost the product demand noticeably across this region. As per estimates, in 2015, Europe contributed a revenue of USD 100 million toward the overall sodium lauryl ether sulfate industry via personal care product sales.
Detergent manufacturing industries have been using SLES product extensively, owing to the ease of availability and their capability to remove formidable stains. Sodium lauryl ether sulfate market size from detergents & cleaners was valued at USD 450 million in 2015 and is slated to witness considerable annual growth rate over the coming seven years. This product is adaptable to both water and fat, which will augment its demand and propel sodium lauryl ether sulfate industry share noticeably.
The key players in sodium lauryl ether sulfate market are Evonik Industries, Stepan Company, Croda International, BASF, Dow Chemical Company, Clariant Corporation, Solvay S.A., Galaxy Surfactants Ltd., Huntsman Corporation, Zanyu Technology Group Co Ltd., Kao Corporation, Taiwan NJC Corporation, Godrej Industries, Ultra Group, and Ho Tung Chemical Corp.
Author Name : Sunil Hebbalkar