Bio-based surfactants are derived from living cells, have high rate of biodegradability, and have low levels of toxicity. These type of surfactants are considered environmentally friendly as they are synthesized from natural living cells and are used for reducing surface tension as wetting agents and detergents. Bio-based surfactants market are used widely in various industries, especially in food, textiles, oil fields, and pharmaceuticals.
Growing demand for bio-surfactants from various end use industries especially in developed economies is a major factor driving growth of the global market. Also, stringent government and environmental regulations prohibiting use of chemical based surfactants is another factor expected to fuel growth of the global market over the forecast period. Additionally, increasing use of bio-based surfactants in oil fields as oil field chemicals is another factor anticipated to boost growth of the target market to a significant extent. But, volatility in raw material prices, especially in prices of ethylene is a major factor hampering growth of the global market.
The global bio-based surfactants market report has been segmented on the basis of product type, application, and region. On the basis of region, the global bio-based surfactants market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The market in Europe accounted for highest share in terms of revenue in the global market, and is projected to maintain its dominant revenue contribution over the forecast period. This can be attributed to increasing applications of bio-based surfactants in various industries and stringent environment regulations limiting adoption of chemical surfactants in the region.
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The market in North America accounted for second-highest revenue share, as compared to that of markets in other regions. This is attributed to high demand for bio-based surfactants from various industries in countries in the region. The market in Asia Pacific is projected to witness significant growth in the global market, owing to growing demand for biodegradable and less toxic surfactants from emerging economies such as China, Japan, and India. The market in Middle East & Africa is also expected to witness relatively high growth over the forecast period.
Prominent players in the global bio-based surfactants market include BASF SE, The Dow Chemical Company, Croda International Plc., Huntsman Corporation, Clariant, Stepan Company, Kao Corporation, AGAE Technologies LLC, Rhodia SA, and Henkel AG & Company, KGaA.