As per our analysis report, the Europe Surfactants Market is expected to reach USD 61.87 billion by 2029 from USD 48.25 billion in 2024, growing at a compound annual growth rate (CAGR) of 5.1% during the forecast period.
Rising demands for personal care and hygiene products are a driving factor that is likely to promote the surfactant industry in the European region. The COVID-19 pandemic has skyrocketed the demand for sanitation products as a preventive measure against the virus.
Growth in the agriculture sector posts positive results in the surfactant industry. The price of raw material is volatile but biodegradability poses a challenge, the industry has come up with bio-based super absorbent polymers to tackle this issue. Bio-based surfactants also offer environment-friendly solutions to the rising initiatives related to climate change and help in promoting the surfactant industry. Surfactants also possess adsorption properties which further add to their usage. Viscosity and elasticity offered by surfactants are also major factors in promoting their growth.
Although surfactants are extremely useful and are growing at a high rate, they are costly compared to other chemicals. This is a major drawback to the regional industry. The European market boom is limited to the high investments in research and development to improve the quality of the polymers to fulfill the standards that are in line with environmental norms.
COVID-19 has resulted in severe challenges for the surfactants market by impacting several end-user sectors. Major economies of Europe are affected due to the pandemic as it was the hotspot early on. The surfactants market, however, saw substantial growth in this period owing to the increased sanitation activities which became mandatory in almost all working places. In addition to this, increased awareness of personal hygiene and self-care products boosted the demands during this period. More investments are being made towards bio-based surfactants to reduce the harmful environmental effects of their synthetic counterparts. Post the pandemic, the market is expected to grow at a similar rate as sanitization activities are expected to increase in the upcoming years and European laws to become more stringent towards the use of synthetic surfactants and the adoption of bio-based products.
In Europe regions, the household soap segment is expected to dominate the industry. Personal care usage has increased drastically in Europe and is expected to grow further in the forecasted period. In addition, the personal care segment has become the most prominent application for surfactants in Europe. The increasing consumer disposable income and the rising availability in sales channels are promoting this business growth.
Non-ionic products are supposed to record a slower growth rate as more replacements are available in the marketplace with better properties while the amphoteric segment is likely to record the fastest growth rate in the future.
BASF SE, Huntsman Corporation, Henkel AG & Co, DowDuPont, and Clariant AG are some of the notable companies in the Europe Surfactants market.
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