The report “Silicone Surfactants Market by Application (Emulsifiers, Foaming Agents, Defoaming Agents, Wetting Agents, Dispersants), End-Use Industry (Personal Care, Construction, Textile, Paints & Coatings, Agriculture), and Region – Global Forecast to 2024″ The silicone surfactants market is estimated to be USD 2.0 billion in 2019 and is projected to reach USD 2.5 billion by 2024, at a CAGR of 5.0% from 2019 to 2024. The growth of the silicone surfactants market can be attributed to the increasing demand for silicone surfactants from the end-use industries. Stringent environmental regulations against the use of conventional surfactants provide a prospect for growth to the silicone surfactants market.
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Personal care end-use industry segment accounts for the largest share of the silicone surfactants market
The personal care segment is the largest contributor to the global silicone surfactants market in terms of value. The personal care industry consumes more than one-third of the global silicone surfactants produced. The growth of the personal care segment can be attributed to the increasing use of silicone surfactants in skincare, haircare, and personal hygiene products. Growing demand for personal care products from emerging economies, such as China and India, is fueling the growth of the personal care industry.
Based on application, the emulsifiers segment is projected to be the highest revenue generator of the silicone surfactants market by 2024
The emulsifiers application segment is estimated to lead the silicone surfactants market in 2019, and this trend is expected to continue during the forecast period as well. The growth of this segment can be attributed to the increasing use of silicone surfactants in the personal care, construction, and paints & coatings industries. Features such as stabilization, spreadability, and softness make silicone surfactants preferable for use as emulsifiers in personal care products, polyurethane foams, and coatings, among other applications.
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The Europe region is expected to lead the silicone surfactants market during the forecast period
The European region is estimated to lead the silicone surfactants market in 2019 and is expected to continue its dominance in the near future. The upsurge in the number of working women and increasing e-commerce activities have led to the rise in demand for personal care products in this region. The high demand for silicone surfactants from the personal care industry in countries, such as Germany, the UK, and France, is a key factor driving the growth of the European silicone surfactants market.
Major companies operating in the silicone surfactants market include Evonik Industries AG (Germany), Dow Corning Corporation (US), Momentive Performance Materials Inc. (US), Wacker Chemie AG (Germany), Innospec Inc. (US), Shin-Etsu Chemical Co., Ltd. (Japan), Siltech Corporation (Canada), Elé Corporation (US), Elkem ASA (France), Supreme Silicones (India), Silibase Silicone New Material Manufacturer Co., Ltd. (China), Jiangsu Maysta Chemical Co., Ltd. (China), Elkay Chemicals Pvt. Ltd. (India), Hangzhou Ruijiang Performance Material Science Co., Ltd. (China), Harcros Chemicals Inc. (US), and SST Australia Pty Ltd. (Australia). These companies have principal operations in the Asia Pacific, North American, and European regions. They undertake organic and inorganic expansion strategies to increase their market shares. Expansion is an essential strategy in this market to cater to competitive products to the end-user industries.
Momentive Performance Materials (US) is one of the leading manufacturers of silicone surfactants. The company has strong product offerings which are distributed across various regions, such as North America, Asia Pacific, and Europe. The company is primarily focused on inorganic growth strategies, such as acquisition to enhance its product portfolio.
- The Investor Group (involves SJL Partners, KCC Corporation, and Wonik QnC Corporation) acquired Momentive Performance Chemicals. This acquisition is expected to strengthen the position and geographic reach of Momentive Performance Chemicals. It will also expand the product portfolio and financial position of the company.
Innospec Inc. (US) is engaged in manufacturing and distributing specialty chemicals. It operates through product segments, namely, fuel specialties, performance chemicals, oilfield services, and octane additives. The company caters its products to industries, such as personal care, home care, agrochemical, and mining. The company offers silicone surfactants under the performance chemicals segment. These surfactants are used in the personal care industry. The company has a presence in around 23 countries across the Americas, Europe, the Middle East, Africa, and Asia Pacific.
- In 2019, Innospec made a series of investments to further expand its capabilities in research, development, and technical services for its Performance Chemicals business.
- Further, in January 2017, Innospec established a wholly-owned enterprise in China. The subsidiary enhances the company’s business in the Asian market.
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