LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global secondary alkane sulfonates market provides an in-depth analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines a major trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio market research analysts, the global secondary alkane sulfonates market will grow at a CAGR of over 5% during the forecast period. A major factor driving the market’s growth is the increasing awareness of consumers regarding a healthy lifestyle.
The rise in awareness of consumers regarding personal cleanliness and hygiene is a major factor, which drives the growth of the global secondary alkane sulfonates market. Furthermore, the low toxicity of secondary alkane sulfonates allows their extensive use in manufacturing household cleaning solutions. They act as consumer-friendly surfactants. Secondary alkane sulfonates are the most suitable surfactants for cleaners in households and institutions due to their biodegradability. The growing middle-class population, increasing personal disposable income, and rising living standard drive the demand for household cleaners at an exponential rate.
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In this report, Technavio highlights the increasing demand for bio-based anionic surfactants as one of the key emerging trends in the global secondary alkane sulfonates market:
Increasing demand for bio-based anionic surfactants
The growing concern for the toxic effects of synthetic surfactants and rising crude oil prices are the major factors that drive the demand for bio-based surfactants from various end-user applications. In addition, there are certain environmental regulations, which are restricting the use of synthetic surfactants as intermediate compounds to manufacture detergents, cleaners, personal care products, and other end-use products. Moreover, the fluctuation in the prices of crude oil has a direct impact on the supply of and demand for raw materials that are used to produce secondary alkane sulfonates.
“The primary raw material used to produce secondary alkane sulfonates is n-paraffin, which is a mixture of hydrocarbons. The fluctuation in the price of crude oil price impacts the cost of paraffin, thereby increasing the cost of secondary alkane sulfonates. Bio-based anionic surfactants such as fatty methyl ester sulfonates and sodium lauryl sulfonates are gaining popularity in various end-user applications because they are derived from renewable resources such as palm oil and palm kernel oil,” says a senior analyst at Technavio for research on specialty chemicals.
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Global secondary alkane sulfonates market segmentation
In this market research report, the global secondary alkane sulfonates market has been segmented into the following applications (household detergents and cleaners, dishwashing liquids, industrial cleaners, and personal care products) and key regions (the Americas, APAC, and EMEA).
The household detergents and cleaners segment held the largest market share in 2017, accounting for nearly 45% of the market. This application segment is anticipated to grow steadily through the forecast period.
APAC was the leading region for the global secondary alkane sulfonates market in 2017, accounting for a market share of almost 43%. It was followed by the Americas and EMEA respectively. The APAC region will dominate the market throughout the forecast period.
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