According to a report
published by Grand View Research, Inc.; the esterquats
market is estimated to reach a valuation of around USD 3.45
billion by 2024. Increasing demand for fabric care products owing to high
awareness among consumers about fabric care is likely to increase the product
demand over the forecast period (2010 to 2024). In addition, technological
advancements and growing investment by the players is likely to increase the
product demand.
Growing demand for high
performance and aromatic fabric softeners can propel the market during the
forecast period. Technological advancements in esterquats have assisted the
manufacturers to develop ultra-concentrated products with 20 to 25% solid
content. This has helped in enhancing the performance of the product and
affordability of esterquats at affordable price. This has increased its adoption
in fabric softeners manufacturing process.
The product possesses
substantively, antistatic, and surface activity properties making it vital in
industrial applications. Therefore, it can be used as cationic surfactant in
cleaning products, washing, and paper softening. It can be extensively used in
car washes due to its biodegradability and passivation properties. Moreover,
increasing awareness among consumers regarding environment friendly products
and growing use of health and beauty products is also expected to boost the
product demand in the coming years.
The worldwide esterquats
market can be segmented on the basis of application and region. Based on
application, the market can be categorized into fabric care, personal care, and
industrial. The industrial application segment is likely to grow at CAGR of
9.6% from 2016 to 2024.
Access
Research Report of Esterquats Market @: www.grandviewresearch.com/industry-analysis/esterquats-market
Geographically, the market can
be divided into North America, Europe, Latin America, Rest of Asia Pacific,
Indian Sub-Continent, Gulf Cooperation Council (GCC), Kingdom of Saudi Arabia
(KSA), Rest of Middle East, and Africa.
In recent years North America
and Europe markets have increased the use of esterquats as a substitute of
dihydrogenated tallow dimethyl ammonium chloride (DHTDMAC) in the manufacturing
of fabric softeners due to its low toxicity and biodegradability.
In 2015, Europe accounted for
largest market share of 37.5%. It is expected to grow at CAGR of 11.1% from
2016 to 2024 owing to increasing marketing activities to promote skin care
products. The demand for the product has risen due to strict government
regulations about the use of environment friendly products for end-use
applications in the region. In addition, availability of wide range of fabric
softeners with consumer-friendly characteristics such as mildness and soft
hands are also expected to increase the adoption rate of the product in the
region. The product has high demand in countries such as the U.K., Italy,
Spain, and Germany.
Browse more reports of this category by
Grand View Research at: www.grandviewresearch.com/industry/specialty-glass-ceramic-and-fiber
North America represent one of
the largest markets due to high penetration in fabric softener and presence of
major market players. In 2015, the region estimated over 30% share of total
volume. Asia Pacific market is likely to grow on account of increasing
awareness among consumers regarding the constituents used in making of fabric
care and personal care products coupled with presence of major market players.
Countries such as China, Japan, and South Korea are anticipated to support the
market growth in the region.
The Indian sub-continent is
anticipated to grow at a CAGR of 11.2% from 2016 to 2024. The growth can be
associated with increasing demand for personal and fabric care products and
increasing disposable income levels of consumers. The region includes countries
such as India, Sri Lanka, Bangladesh, and Pakistan.
Latin America is one of the fastest
growing markets. Increasing environmental concerns such as the conservation of
water is one of the major driving factors to augment demand for the product in
the region. The water can be saved with dipping the number of rinse cycles
which also reduces the efforts. The
fabric softeners manufacturers in the region are trying to produce products
that may consume less water.
Prominent players operating in
the market include Evonik Industries, Chemelco International B.V., Kao
Chemicals Europe, BASF SE, and Italmach Chemicals. The participants in the
market are majorly focusing on improvement of distribution channels. The
manufacturers are conducting extensive research and development (R&D) to
develop efficient and high-quality products. The participants are also involved
in joint projects and mergers and acquisitions to expand their presence
globally.
Access
Press Release of Esterquats Market @: www.grandviewresearch.com/press-release/global-esterquats-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
No comments:
Post a Comment