Secondary Alkane Sulfonate Market will grow at 5% CAGR to cross 1.3 Bn USD by 2024
SELBYVILLE, Del., Dec. 1, 2017 /PRNewswire-iReach/ -- Asia Pacific has proved to be a strong contender in the overall Secondary Alkane Sulfonate Market space. Covering almost 40% of the overall industry share, APAC secondary alkane sulfonate market dominated the global business landscape in 2016. Comprising some of the most developing countries like India and China where consumers spending capacity and living standards are on a growing path, household detergents and personal care products observes increasing sales in these regions. This the prime ground that impels the regional SAS market. In addition to this, supportive initiations by the governments to expand the SAS manufacturing business will further complement the industry outlook.
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With global soaps and detergents industry experiencing a stable growth, secondary alkane sulfonate (SAS) market is forecast to chalk substantial gains in the coming seven years, subject to the chemicals' extensive utilization in soaps and detergents business sphere. The surging demand can be credited to the products' improved functionalities pertaining to water solubility, foaming characteristics, low additive solvency, and excellent wetting action. Increasing detergent demand across diversified platforms-textile, paper & pulp, hospitality, and laundry services is in way widening the growth opportunities for SAS market. Not only external domains, the demand is also witnessing a surge from domestic sector as well. Global household detergents market demand which is rising high is anticipated to play a pivotal role in secondary alkane sulfonate market growth path.
Industrial cleaners will witness gains more than 4% CAGR over the forecast period. Rapid industrialization across the globe along with considerable detergents demand for removing grease and oil stains will boost the global secondary alkane sulfonate market size by 2024.
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Global secondary alkane sulfonate market share was led by Asia Pacific in 2016. In addition, the region, mainly led by China and India, captured more than 40% of the total business share in the same year. Growing Population in China and India, rapid industrialization & urbanization, escalating food & beverage business and growing consumer awareness towards cleanliness are the prime factors propelling Asia Pacific secondary alkane sulfonate market size in the recent years. Furthermore, expanding personal care product customer base in the region will stimulate business growth 2024, as the product is used in cosmetic products such as bar soaps, shampoos and shaving cream due to its foaming, moisturizing and emulsifying traits. However, North America will experience moderate gains close to 3.5% CAGR over the forecast timespan.
In 2015, secondary alkane sulfonate size was competitive. Key companies participating in the business are BIG SUN Chemical Corporation, Clariant Corporation, The WeylChem Group, Lanxess AG, Rajvin Chemicals, and Acar Chemicals.
Browse key industry insights spread across 100 pages with 88 market data tables & 11 figures & charts from the report, "Secondary Alkane Sulfonate (SAS) Market Share & Forecast, 2016 – 2024" in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/secondary-alkane-sulfonate-SAS-market
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