Markets and Markets (M&M) has anticipated that the global silicone surfactants market to expand from USD 2.0 billion in 2019 and is projected to reach USD 2.5 billion by 2024, at a CAGR rate of 5.0 percent, during the forecast period. The silicone surfactants market is driven by the increasing demand for silicone surfactants from the end-use industries, and due to the stringent environmental regulations against the use of conventional surfactants.
Emulsifiers Application Leading the Industry Growth
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 is due to the increasing use of silicone surfactants in the personal care, construction, and paints and 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.
Increased Demands of Personal Care Industry
The personal care segment is the largest contributor to the global silicone surfactants market in terms of value. The growth of the personal care segment can be attributed to the increasing use of silicone surfactants in skincare, haircare, and personal hygiene products. The growing demand for personal care products from emerging economies, such as China and India.
Highest Growth in European Region
The European region is estimated to lead the silicone surfactants market in 2019 and is expected to continue its dominance soon. 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.
Source: Markets and Markets