Esterquats Industry size is expected to register 9.2% CAGR between 2023 and 2032 propelled by increasing demand for personal care products.
Selbyville, Delaware , June 04, 2024 (GLOBE NEWSWIRE) — Esterquats Market is projected to be over USD 5.2 billion by the end of 2032, as per a recent study by Global Market Insights Inc.
The rising consumer preference for eco-friendly and biodegradable products is propelling the demand for esterquats, which are widely used in fabric softeners and personal care products like hair conditioners and shampoos due to their environmentally friendly profile. The growing awareness of sustainability and green chemistry is encouraging manufacturers to adopt esterquats as alternatives to traditional quaternary ammonium compounds.
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As per data from the India Brand Equity Foundation (IBEF), the personal care industry of India is projected to touch USD 20 billion by 2025. The expansion of the personal care and home care industries, particularly in emerging economies is further boosting the penetration of esterquats as they offer superior conditioning and softening properties. Additionally, significant advances in production technologies are improving the efficiency and cost-effectiveness of these compounds. The increasing regulatory support for sustainable chemicals will further play a crucial role in driving the industry forward.
MDEA-Quats to record high demand
The MDEA-Quats product segment in the esterquats market is estimated to depict substantial share by 2032. The growth can be attributed to the superior biodegradability and lower toxicity of MDEA-Quats, making them attractive for eco-conscious consumers and manufacturers. Given their excellent fabric softening and conditioning properties, MDEA-Quats are increasingly used in laundry and personal care products. The rising demand for sustainable and environmentally friendly ingredients in household and personal care products will also boost the segment growth.
Dry segment to exhibit significant CAGR
Esterquats market size from the dry form segment will grow at a notable rate from 2023 to 2032. The ease of handling, storage, and transportation of dry form esterquats is highly appealing to manufacturers. They offer longer shelf life and stability compared to liquid forms, adding to their enhanced desirability. The increasing use of dry form esterquats in concentrated laundry and cleaning products, which require less packaging and reduce shipping costs will further augment the product demand.
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Asia Pacific to remain an attractive market destination
Asia Pacific esterquats market size is projected to depict substantial growth by 2032, due to the increasing consumer demand for eco-friendly and biodegradable products in personal care and home care sectors. Rising awareness of sustainability and environmental impacts is driving the adoption of esterquats in fabric softeners and conditioners. The expanding middle-class population and urbanization in emerging economies is further spurring the demand for high-quality, sustainable household products. Rising regulatory support for green chemicals and advancements in production technologies are bolstering the regional market expansion.
Esterquats Market Participants
Some of the leading firms operating in the esterquats industry include BASF SE, Stepan Company, Solvay S.A., Evonik Industries, Kao Corporation, AkzoNobel N.V., Clariant AG, ABITEC Corporation, Chemelco, The Lubrizol Corporation, Italmatch Chemicals S.p.A., Hangzhou Fandachem Co., Ltd, and Dongnam Chemical Industries Co., Ltd. These market players are leveraging various business development strategies, like mergers & acquisitions, collaborations while introducing novel solutions to gain a competitive ground in the market. For instance, in August 2022, Clariant announced a definitive agreement to divest its quats business to Global Amines Company Pte. Ltd., a joint venture between Clariant and Wilmar, Asia’s leading agricultural and oleochemicals business.
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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