iCrowd Newswire – Jun 16, 2020
The chemical industry is focused to keep the business operations running along with ensuring the labor safety amid the COVID-19 pandemic. To recover the losses created by the decline in demand for various products, the companies are capitalizing on the escalating demand for products such as disinfectants and personal protective equipment. Many leading players in the chemical industry have expanded their business to enter into the production of safety products. Companies are resorting to advanced technologies in production to reduce the dependence on work-force.
They are increasingly adopting advanced digital capabilities to integrate supply chain and logistics to ensure the effective delivery of products. The industry heads are seeking the real-time situation of their supply chains to identify potential weaknesses, especially in terms of geography, and strengthen it. The financial disclosures are being extended beyond the usual financial statements to deal with the risks that have aroused amid the COVID-19 pandemic.
Persistence Market Research, in its latest report titled “Methyl Ester Sulfonate Market: Global Industry Analysis 2013–2017 and Forecast 2018–2026”, provides decisive information on the global methyl ester sulfonate market and offers extensive information through structured market research. The report evaluates the methyl ester sulfonate market and estimates the upcoming market scenario on the basis of form, application and region.
As per the insights presented in the report, the powder form of methyl ester sulfonates is estimated to account for relatively high consumption (>50%) throughout the forecast period. The global methyl ester sulfonate market was pegged at US$ 807.3 Mn, in terms of value, at the end of 2017 and is expected to reach US$ 2,199.6 Mn by the end of 2026, with a significant CAGR of 11.8%.
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Increasing Demand for Bio-based Raw Materials Owing to Growing Environmental Concerns to Drive Demand for Methyl Ester Sulfonates
Rising environmental concerns and increasing number of regulations have been surging the demand for bio-based raw materials from end-use industries for a variety of applications, such as laundry, personal care and cosmetics, among others.
The growing demand for bio-biased raw materials is expected to boost the demand for methyl ester sulfonates, owing to their renewable nature and easy availability. Substantial characteristics such as high detergency in hard water conditions, readily biodegradable nature and low toxicity give methyl ester sulfonates an advantage over their traditional rival surfactant, linear alkylbenzene.
Population growth and rapidly increasing urbanization in emerging economies are expected to positively impact the methyl ester sulfonate market. The rising spending capacity of the middle class population towards laundry care and personal care products such as soap, shampoo and detergent, owing to the changing lifestyle and increasing awareness regarding personal hygiene are expected to boost the growth of the methyl ester sulfonate market.
Also, the changing trend of using public laundries is expected to create substantial opportunities for bio-detergents, which is expected to positively impact the methyl ester sulfonate market. The increasing consumption of dish wash from household and commercial kitchen cleaning activities is another key factor contributing to the growth of the methyl ester sulfonate market.
Manufacturers of methyl ester sulfonate have been facing problems, such as application technique and manufacturing control ability, which hinder the production of methyl ester sulfonate. Also, methyl ester sulfonate exhibits instability during different chemical conditions. This, coupled with low product awareness among consumers, has been restraining the growth of the methyl ester sulfonate market to an extent.
Powder Form of Methyl Ester Sulfonates to Witness Strong Demand Owing to Superior Chemical and Physical Properties
Methyl ester sulfonates are available in the form of powder, liquid and flakes in the commercial market around the world. Attributing to its unstable nature in certain chemical and physical conditions, the liquid form of methyl ester sulfonates has been witnessing low demand. On the other hand, the flakes form of methyl ester sulfonates is expected to witness a rise in demand, due to its relatively low price range as compared to the other forms. The powder form of methyl ester sulfonates is expected to hold the prominent share, owing to increasing demand from the detergent industry.
APEJ to Witness Lucrative Growth Owing to Increasing Demand for Powder Detergents and Easy Availability of Raw Materials
Asia Pacific Excluding Japan (APEJ) is a prominent region for the cultivation of palm oil, which is an important raw material for the synthesis of methyl ester sulfonate. Further, there is an increasing demand for bio-detergents in countries such as China and India, and thus, the APEJ region is estimated to be a prominent market for methyl ester sulfonates. In matured economies such as North America and Europe, the demand for methyl ester sulfonates is expected to slow down slightly, owing to the shifting trend towards the use of liquid detergents.
Despite this slowdown, North America and Europe are estimated to be promising markets for methyl ester sulfonates, owing to the surging demand for bio-detergents in these regions. The increasing penetration of washing machines in developing countries, growing urban population and increasing spending capacity on laundry and personal care products due to the rising awareness regarding personal hygiene are some of the factors that make LAMEA a potential market for methyl ester sulfonates.
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- Chemithon Corporation
- KPL International Limited
- Henan Surface Chemical Industry Co Ltd
- KLK OLEO
- Wilmar International Ltd.
- Stepan Company
- Lion Corporation
- K2 Industries
- Guangzhou Keylink Chemical Co., Ltd.
- Sinopec Jinling Petrochemical Co., Ltd.
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