The global esterquats market size is anticipated to expand at an unvarying pace in the forthcoming years on account of the mounting concerns surrounding the health and environmental effects of household products, observes Fortune Business Insights™ in its report, titled “Esterquats Market Size, Share & Industry Analysis, By Form (Dry, Liquid), By Application (Personal Care products, Fabric Care Products, Home Care Products, Industrial, Others) and Regional Forecast, 2022-2029
Highlights of the Report:
- Detailed evaluation of the various market drivers and trends;
- Tangible analysis of the challenges facing the market;
- Precise computation of market values and figures;
- Comprehensive segmentation of the market; and
- Microscopic study of the competitive milieu and regional prospects of the market.
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Market Driver
Rapid Growth in Urban Areas to Generate Several Opportunities
One of the most prominent forces propelling the esterquats market growth is the rapid expansion of urban areas. As per recent data from the United Nations (UN), urban sprawls will house nearly 70% of the global population by 2050, with 90% of this rise expected to occur in Asian and African countries. The UN predicts that India, China, and Nigeria alone would account for 35% of this growth in urban areas. Personal and home care products, where esterquats are primarily utilized, experience surging demand and sales in cities and large towns as populations in these spaces have higher disposable incomes and easier access to such products. More importantly, awareness about the harmful effects of chemical-infused products on the environment and human health is steadily spreading among urban dwellers. As a result, there is now a growing inclination towards household products that can be disposed of in an eco-friendly, which is creating new avenues for this market to expand.
Regional Insights
Rising Consumption of Personal Care Items to Accelerate Growth in Asia Pacific
Among regions, Asia Pacific is expected to dominate the esterquats market share in the foreseeable future owing to increasing demand and consumption of different personal care items in the region. Additionally, consumers in the region are becoming more aware of the ingredients used for making such items and are thus preferring more environment-friendly products.
In North America, the prospects for the market appear bright on account of growing demand for detergents containing fabric softeners, especially distilled liquid fabric softeners. The market in Europe, on the other hand, is expected to be driven by the stringent regulations imposed by the EU on manufacturing and use of non-biodegradable household products.
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Competitive Landscape
Key Players to Concentrate on Deepening & Expanding Operational Capacities
In a bid to gain a definitive edge in the competition, key players in this market are adopting strategies to deepen their footprint in the market as well as expand their regional and international operational capacities. To achieve these ends, some companies are collaborating with competitors and other entities to amplify their reach, while some companies are focused on diversifying their portfolio through increased investments in R&D.
Industry Developments:
- June 2019: Kao Specialties Americas announced the expansion of its satellite sales office in Houston, Texas with a view to further entrench the company’s position in the thriving US chemical industry. The company also intends to increase its workforce to bolster its operations across North America.
- January 2019: Univar B.V. was appointed by Kao Chemicals as its exclusive distributor in Spain and Portugal. Under the agreement, Univar and Kao will boost their cleaning product offerings for home and industrial applications as well as for the beauty and personal care domains.
List of Key Companies Profiled in the Esterquats Market Report:
- Kao Chemicals
- Dow Chemicals
- Evonik Industries
- Chemelco International
- P&G
- Italmatch Chemicals
- Berkshire Hathaway Inc.
- Solvay Group
- Colgate-Palmolive
- AkzoNobel
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