The silicone surfactants market size was valued at USD 2.04 billion in 2021. The market size is expected to rise from USD 2.13billion in 2022 to USD 2.99 billion by 2029 at a CAGR of 5.0% during the projected period. Fortune Business Insights™ publishes this information in a report titled, Silicone Surfactants Market, 2022-2029. According to the report, the market is expected to rise during the forecast period due to increasing demand for personal care and skin care products.
Drivers & Restraints:
The market is anticipated to grow considerably owing to the rising demand for personal care and skin care among different age groups. Furthermore, the manufacturing rate for hair care, skin care, and grooming products is rising, which supports the silicone surfactants market growth during the projected period.
However, the availability of alternatives may hinder the market growth.
Regional Insights:
Asia Pacific dominates the global silicone surfactants market share due to surging demand for home care and personal care products. Furthermore, economic development in developing countries is expected to support regional market growth during the projected period. The regional market stood at USD 0.82 billion in 2021.
North America holds the second-highest global market share owing to the rising construction activities and development in healthcare infrastructure.
Competitive Landscape:
The key market players focus on collaborating with different companies to increase their productivity. Further, launching new products allow key players to improve their product portfolio and globalize their business. The companies implement various growth strategies such as strategic alliances, mergers, and partnerships with supporting organizations.
Key Industry Development:
- March 2022: Dow launched a new product extension of VORASURF Silicone Surfactants to support the growing demand for enhanced energy efficiency and sustainable solutions in the rigid polyurethane foam market, focusing on spray and construction applications.
List of Key Players Profiled in the Report:
- Dow Chemical Company (U.S.)
- Momentive Performance Materials (U.S.)
- Wacker Chemie AG (Germany)
- Innospec (U.S.)
- Shin-Etsu Chemical (Japan)
- Andisil (U.S.)
- Evonik Industries (Germany)
- Supreme Silicones (India)
- Siltech Corporation (Canada)
Source: https://www.fortunebusinessinsights.com/silicone-surfactants-market-104900
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