The global silicone surfactants market share is likely to be boosted significantly over 2021-2027, due to the escalating demand for the product from myriad end-use industries, spanning personal care & cosmetics to construction to paints & coatings and more.
Silicone surfactants are copolymers of polyethers and silicone, which are used extensively across applications that gain performance advantages from the silicone character and high surface activity provided by the formulations. These water-miscible polymers consist of both hydrophilic polyether as well as hydrophobic siloxane properties.
The burgeoning demand for advanced surfactant formulations from the personal care sector is a major trend stimulating silicone surfactant market trends over 2021-2027. Recent years have witnessed an increasing focus on grooming and personal hygiene worldwide, particularly among younger generations, contributing to a thriving cosmetics and personal care industry.
Reliable reports suggest that the European cosmetics and personal care industry brings nearly €29 billion of added revenue to the regional economy each year. This, in turn, has generated lucrative growth prospects for the silicone surfactants industry, given the long-standing preference for silicones in personal care applications owing to their non-ionic, oxidation-resistant, and GMO-free nature. Silicones have been considered a key part of beauty and personal care for nearly 6 decades, with high-performance, safe sustainable silicone surfactants emerging as the key ingredients in many modern cosmetic formulations.
With respect to application, the emulsifiers segment is poised to emerge as a key contributor to silicone surfactants market growth by 2027, given the mounting adoption of the products in construction, personal care and paints & coatings end-use sectors. Emulsifiers play major role in stabilizing polyurethane foam, which has further amplified product demand in recent years. For instance, in 2019, Dow, with a strong commitment to expanding polyurethane offerings within the surfactants space, launched over 15 new silicone surfactant formulations, designed specifically for polyurethane foam applications.
Regionally, the Asia Pacific is expected to become a major revenue pocket for the silicone surfactants industry over the forecast spell. This growth is attributed mainly to the rapid population expansion, and the resultant rise in demand for cleaning and personal care products such as detergents and soaps in the region. In India, for instance, the soap industry is vast, consisting over 700 companies, which garner collective profits of almost $17 billion each year.
Wacker Chemie AG, Evonik Industries (RAG-Stiftung), Dow Silicones Corporation (formerly Dow Corning), Elkem ASA, and Momentive Performance Materials Inc. are among the prominent players strengthening the silicone surfactants market outlook.
These entities are focusing on various developmental strategies, ranging from new product developments to expansions, in order to enhance their presence across emerging as well as established markets worldwide.
To illustrate, in February 2021, leading PU (polyurethane) industry solutions provider Evonik announced the conversion of its entire portfolio of silicone surfactants in Europe to include low-VOC (volatile organic compounds)- or low cyclics- based products. This has allowed the company’s silicone surfactants to comply with several stringent sustainability standards and certifications.
Meanwhile, in September 2020, performance additive manufacturer Innospec and Maroon Group announced a new distribution agreement, positioning Maroon Group as the exclusive distributor for the surfactant line of Innospec for the CASE (coatings, adhesives, sealants and elastomers) industry in the United States.
Increasing Focus on Hygiene and Cleanliness Amid COVID-19 Pandemic and Its Impact On Silicone Surfactant Market Trends
The outbreak of the novel coronavirus, and the resultant pandemic has created an unprecedented crisis situation across the globe, emerging as one of the most devastating health threats in history. The COVID-19 disease has affected millions of people across the globe over the past year, causing several respiratory complications and other health adversities with severe consequences. The pandemic has also brought about a considerable change in consumer habits and preferences, most notably the sharp increase in hygiene consciousness, which has in turn led to a surge in demand for soaps, detergents and other cleaning products aimed at curbing further transmission of the virus. For instance, Henkel, which owns brands like Schwarzkopf and Persil, witnessed a nearly 60% incline in hand soap sales across the US, in the first half of 2020.
While the economic impact of the pandemic has been largely negative, creating challenges for many industries, the growing focus on hygiene and higher interest in cleaning products will likely present lucrative growth opportunities for the silicone surfactants market in the years ahead, especially considering that disinfectant and cleaning products are likely to be in high demand even in the post-pandemic world.