Alpha-Olefin Sulfonates Market Is Forecast To Expand At A CAGR Of 3% By 2029
Impressive foaming properties offered by alpha olefin sulfonates in personal care product formulation and industrial product manufacturing are set to reap remunerative opportunities for suppliers of alpha olefin sulfonates. Detergent and liquid soaps have driven the consumption of alpha olefins sulfonates and are set to remain a key consumer segment in the market, creating an absolute $ opportunity worth US$ 51 Mn by 2029. Being biodegradable in nature, alpha olefin sulfonates have surfaced as preferred surfactants over other sulfonates such as linear alkylbenzene sulfonates, which would eventually catalyze the market to grow at a CAGR of ~3% during the forecast period (2019-2029).
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Key Takeaways of Alpha Olefin Sulfonates Market:
- Owing to its high foamability and compatibility with skin and fabrics, alpha olefin sulfonates are poised to become a key ingredient in detergent and cosmetic sectors.
- Detergents & liquid soaps are set to remain the most lucrative applications and are forecast to account for approximately half of global consumption in 2029
- On the basis of product, liquid & paste segment has dominated the alpha olefins sulfonates market and is poised to create absolute $ opportunity worth US$ 47 Mn during the forecast period.
- APEJ (Asia Pacific excluding Japan) has dominated the market in 2018 and is projected to maintain its supremacy in the market expanding at rate of ~4% during the forecast period.
- China, India, Japan and United States are the leading consumers in the market, collectively accounting for more than half of the global consumption in 2018
“Excellent decontamination, emulsification and wide compatibility with other surfactants are set to fuel the demand for alpha olefins sulfonates during the forecast period”, says the Fact.MR analyst.
Alpha Olefin Sulfonates Market: Segmentation
Fact.MR has segmented the alpha-olefin sulfonates market on the basis of product, application, and region.
By Product :
- Powder & needles
- Liquid & Paste
By Application :
- Detergents & Liquid soaps
- Industrial Cleaners
- Emulsion Polymerization
By Region :
- North America
- Latin America
Product Innovation to Remain Pivotal Among Leading Market Actors
Alpha olefin sulfonates market consists of well-diversified global and regional players with global producers such as Clariant, Godrej Industries, INEOS, Solvay SA, Stepan Company and Kao Corporation leading the global supply.
Market players have been offering innovative products to create monopoly in the market in order to maintain and strengthen their position. Additionally, owing to low entry barriers, several regional players have entered the market in the past half-decade.
For instance, in January 2020, Indorama Ventures have acquired Huntsman Corporation’s surfactants businesses for US$ 2 Bn to leverage the remunerative opportunities from the market. Clariant offers alpha olefin sulfonates under brand name of Hostapur OS liq., which is able to produce highly stable micro-foam that is not susceptible to water hardness.