The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Sodium Lauryl Sulfate Market.
It was estimated prior to this unanticipated outbreak that the Sodium Lauryl Sulfate Market was expected to grow at a CAGR of 5.3% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
Sodium lauryl sulfate is an anionic detergent and surfactant found in many household and industrial cleaning products. Based on product type, Sodium lauryl sulfate can be categorized into liquid sodium lauryl sulfate and dry sodium lauryl sulfate. On the basis of application served, it can be categorized into dish washing liquids, household detergents & cleaners, industrial cleaners, and personal care products.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Based on the product type, the market is segmented as liquid and dry. The dry segment is further bifurcated into powder, needles, and granules. The liquid segment dominated the market in 2019, and is expected to maintain its position during the forecast period. Liquid sodium lauryl sulfate is majorly used for day-to-day applications, whereas dry sodium lauryl sulfate is majorly preferred for applications, where strong cleansing is required.
Based on the application type, the sodium lauryl sulfate market is segmented as dish washing liquids, household detergents & cleaners, industrial cleaners, and personal care products. The household detergents & cleaners segment held the largest share of the market in 2019, and is also expected to witness a healthy growth during the forecast period. Household detergents & cleaners majorly include liquid & powder laundry detergents, all-purpose cleaners, floor cleaners, toilet cleaners, kitchen cleaners, glass cleaners, carpet cleaners, upholstery cleaners, stain removers, and hard surface cleaners.
In terms of regions, Asia-Pacific is estimated to be the largest market for sodium lauryl sulfate during the forecast period. China, Japan, Taiwan, South Korea and India are the major economies contributing towards the growth and high demand for sodium lauryl sulfate in the region. Huge consumer base, growing disposable income of consumers, increasing popularity of takeaway foods, and growing awareness towards personal and community hygiene are the major factors driving the growth of the Asia-Pacific sodium lauryl sulfate market. North America and Europe are also expected to witness a healthy demand for sodium lauryl sulfate during the forecast period.
Some of the major players in the sodium lauryl sulfate market are-