BASF SE (Germany) and Clariant AG (Switzerland) are the Key Players in the Low Foam Surfactants Market
The low foam surfactants market is projected to reach USD 19.6 billion by 2024 from USD 14.9 billion in 2019 at a CAGR of 5.6% between 2019 and 2024. The market growth of low foam surfactants is driven mainly by growing end-use industries and increasing need for greener & sustainable surfactants. Rising urbanization, increase in the number of working women, changing lifestyle, and growing awareness of hygiene & skin care products are fueling the growth of the market in the personal care end-use industry. The increase in spending on better personal care products is also driving the low foam surfactants market.
The players in the market are focusing on quality and innovation to comply with environmental regulations enforced by governments and to meet the growing demand in various industries such as detergents, personal care, food & beverage, and crop protection, among others. The surfactant market is mature and also has diverse application across a broad range of industries. Thus, the competition among various players is medium as the demand for surfactants cannot be met by a few players.
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The growth of the low foam surfactants market has been influenced mainly by new product launches, mergers & acquisitions, contract & agreements, and expansions that took place between 2014 and 2018. BASF SE (Germany), AkzoNobel N.V. (Netherlands), Clariant AG (Switzerland), Evonik Industries AG (Germany) have adopted these strategies to enhance their product offerings and maintain a premium position in the market.
BASF SE (Germany) is developing its low foaming surfactants by expanding its production capacities to enhance its position in the market. For instance, in October 2015, the company expanded its production capacity of emollients, waxes, and surfactants. This expansion increased its position in the local market. Additionally, in July 2018, BASF SE (Germany) announced the capacity expansion of its integrated ethylene oxide complex, based in Antwerp, Belgium. The project includes capacity expansions for ethylene oxide and several downstream derivatives, such as surfactants.
Clariant AG (Switzerland) has a global presence and operates through its subsidiaries in various countries. The company is focusing on its R&D activities to develop innovative products over the next few years. It also focuses on developing sustainable products. The company intends to expand its business by tapping new markets globally. It invests heavily in developing new products in response to the increasing demand from international and domestic markets for low foam surfactants. For instance, in July 2016, the company introduced a wide range of specialty surfactants for the Indian market. This launch will enhance the companys position in the Indian market.
Similarly, in April 2015, the company launched a special surfactant under the brand GlucoTain for its personal care business. GlucoTain surfactant offers exceptional performance and quality, which gave the company an added advantage in the market. This development also helped the company to strengthen its personal care business.
Related Reports:
Low Foam Surfactants Market by Type (Non-ionic, Amphoteric, Cationic), and Application (Home & Personal Care, Agrochemicals, Oil Field Chemicals, Textiles, Paints, Pulp & Paper, Cement, and Metal Cleaning) - Global Forecast to 2024
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