Global Sodium Lauryl Sulfate Market Size To Worth USD 1146.19 Million By 2030 | CAGR 5.45%Category: Chemicals & Materials
Global Sodium Lauryl Sulfate Market Size To Worth $1146.19 Million By 2030
According to a research report published by Spherical Insights & Consulting, the Global Sodium Lauryl Sulfate Market Size to grow from USD 650.30 million in 2021 to USD 1146.19 million by 2030, at a Compound Annual Growth Rate (CAGR) of 5.45% during the forecast period. The Sodium Lauryl Sulfate Market is expected to be driven by factors such as the numerous uses of sodium lauryl sulphate in soaps, detergents, and cleansers, the expanding global personal care market, and rising consumer awareness of personal hygiene.
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Browse 47 market data Tables and 57 Figures spread through 215 Pages and in-depth TOC on “Global Sodium Lauryl Sulfate Market Size, Share, and COVID-19 Impact Analysis By Product (Liquid and Dry), By Application (Industrial Cleaners, Personal care, Household Products, and Others) and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), Analysis and Forecast 2021 – 2030.” View a detailed Table of Content here– https://www.sphericalinsights.com/table-of-contents/sodium-lauryl-sulfate-market
COVID-19 IMPACT & ANALAYSIS
The COVID-19 pandemic has made an adverse impact on credit portfolios. There has been an unprecedented rise in unemployment and disruption in economic activity, putting a strain on the solvency of customers and companies. Central banks have taken a proactive approach by injecting liquidity into the market by lowering interest rates and asset purchase programs. Managing and monitoring credit, market, liquidity, and operational risk across financial markets were hard enough with ongoing geopolitical tensions, international trade wars, and the occasional hurricanes and earthquakes. The current pandemic situation has forced chief risk officers and their teams to recalibrate old assumptions and models used to manage and monitor risk. COVID-19’s global impact has shown that interconnectedness plays an important role in international cooperation. As a result, many governments started rushing toward identifying, evaluating, and procuring reliable solutions powered by AI.
The Dry segment accounts for the largest market size during the forecast period
Based on the Product, the global Sodium Lauryl Sulfate Market is categorized into Liquid and Dry. The Dry segment accounts for the largest market size during the forecast period. The Dry market category now has the largest market share and is anticipated to expand at a high CAGR over the anticipated years because due to its numerous uses in the manufacturing of detergents and lotions, creams, and other personal care & beauty products. Shampoos, cleaning solutions, toothpaste, and shaving foams are examples of grooming products that can utilize low-concentration dry SLS. Additionally, dry SLS has a potent antibacterial impact on the oral bacterial ecology, opening the door to its widespread use as a surfactant in toothpaste. Dry SLS is recommended in applications where strong cleaning qualities are required, including industrial cleansers and other uses, such as the textile and leather industries, for wetting and stabilization. Dry SLS typically contains an active matter near to or more than 90%. These uses will also support the expansion of the sodium lauryl sulfate market as a whole.
The Household Products segment to hold a higher CAGR during the forecast period.
Based on the application, the Sodium Lauryl Sulfate Market is categorized into Industrial Cleaners, Household Products, Personal care and Others. The Household Products segment to hold a higher CAGR during the forecast period. Throughout the forecast period, the Household Products segment is anticipated to maintain its leading position while expanding at the fastest CAGR driven by expanding per capita wealth and growing public health concerns in nations like China, India, Brazil, Indonesia, Malaysia, and South Korea. Leading market competitors are actively implementing promotional tactics and improving their product offerings for home and cleaning goods.
North America to hold a higher CAGR during the forecast period.
The Global Sodium Lauryl Sulfate Market has been segmented into five major regions: North America, Europe, Asia-Pacific, South America, The Middle East and Africa. Asia- Pacific is estimated to account for the highest market share in 2022. The demand for Sodium Lauryl Sulfate is being driven by the rising acceptance by the market. The market for Sodium Lauryl Sulfate was dominated by the Asia Pacific region because holds a dominance on the worldwide market share. The global laundry market is now expanding at the quickest rate in China. Due to the evolving retail environment in India and the increased accessibility of various items from various brands, washing machine-based laundry products have become increasingly popular. This increase in detergent usage is anticipated to increase the need for SLS. Additionally, the greatest use for sodium lauryl sulphate (SLS) was in detergents and cleaners; this market is anticipated to maintain its dominance during the projected period, mostly because of the rise in home applications.
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The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Sodium Lauryl Sulfate Market: include Croda International, Lion, TAYCA Corporation, Clariant, Solvay, Huntsman International LLC, Stepan Company, Henkel AG & Co, KGaA, Galaxy Surfactants, BASF (Thailand), The Dow Chemical Company, Kao Corporation, Oxiteno, Godrej Industries Limited, Taiwan NJC Corporation, Evonik Industries AG, and Akzo Noble N.V.
Some Of The Key Developments:
- In October 2018, In order to introduce Persil Power gems, a new type of detergent that is neither powder nor liquid but includes lentil-shaped crystals that are more concentrated than any other washing powder, Henkel AG & Company, KGaA invested over USD Millions in research and development operations.
- In June 2018, The leading provider of speciality chemicals in the world, Clariant, has unveiled Playing with Beauty, its most avant-garde and distinctive line of cosmetics. It was created particularly to make regular beauty practises a more dynamic and engaging emotional experience.
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Frequently Asked Questions (FAQ)
What is the market size of the Sodium Lauryl Sulfate market?As per Spherical Insights, the size of the Sodium Lauryl Sulfate market was valued at USD 650.30 million in 2022 to USD 1146.19 million by 2030.
What is the market growth rate of the Sodium Lauryl Sulfate market?The Sodium Lauryl Sulfate market is growing at a CAGR of 6.5% from 2022 to 2030.
Which country dominates the Sodium Lauryl Sulfate market?Asia-Pacific emerged as the largest market for Sodium Lauryl Sulfate.
Who are the key players in the Sodium Lauryl Sulfate market?Key players in the Sodium Lauryl Sulfate market are Croda International, Lion, TAYCA Corporation, Clariant, Solvay, Huntsman International LLC, Stepan Company, Henkel AG & Co, KGaA, Galaxy Surfactants, BASF (Thailand), The Dow Chemical Company, Kao Corporation, Oxiteno, Godrej Industries Limited, Taiwan NJC Corporation, Evonik Industries AG, and Akzo Noble N.V.
Which factor drives the growth of the Sodium Lauryl Sulfate market?Increasing use of surfactants across several sectors is expected to drives the market's growth over the forecast period.
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