The global esterquats market is
expected to reach USD 3.45 billion by 2024, according to a new report by Grand
View Research, Inc. The growing demand for fabric care products due to rising
awareness among consumers toward fabric care and increasing investment by
market players is likely to boost the demand for esterquats.
Factors such as supportive government
regulations that stress on the use of environmental-friendly products are
expected to have a positive impact on market growth over the forecast period.
The technological advancements in esterquats over the past years have led to
the development of ultra-concentrated products with 20%-25% solid content. This
has facilitated high performance of the product and availability of esterquats
at a reasonable price. North America and Europe are likely to witness an
increase in demand for concentrated esterquats for industrial applications.
The market has witnessed numerous
advancements in manufacturing process since inception. Palm-based
esterquats derived from vegetable and renewable raw material sources are
largely used in comparison to animal-based raw materials. In addition, methyl
ester route is being used instead of the fatty acid route, thereby improving
the efficiency and reducing batch process time. Manufacturers are implementing
various methods to balance thermal stability and hydrolysis rate of esterquats,
which in turn is expected to propel market growth over the next eight years.
Browse full report by Grand View Research : http://www.grandviewresearch.com/industry-analysis/esterquats-market
Further key findings from the report suggest:
·
Personal care is likely to be the
fastest-growing application segment registering a CAGR of 13.0% from 2016 to
2024 owing to changing consumer preferences and eco-friendly products
·
Industrial application, which includes
washing & cleaning products and paper softening is projected to grow at a
predicted CAGR of 9.6% from 2016 to 2024. Governments worldwide are trying to
reduce the use of nondegradable substances in washing solutions, which in turn
is likely boost the demand for esterquats
·
Europe is the largest market and expected
to indicate a CAGR of 11.1% from 2016 to 2024 due to increasing consumer
awareness and rising marketing activities to promote skin care products
·
The Indian sub-continent, which includes
India, Pakistan, Bangladesh, and Sri Lanka is estimated to progress at a CAGR
of 11.2% from 2016 to 2024 due to growing demand for personal & fabric care
products and growing per capita income of consumers
·
BASF SE, Kao Chemicals, AkzoNobel,
Lubrizol, ABITEC Corporation, and Evonik Industries are some of the significant
market players
·
Market players are often involved in joint
ventures and mergers & acquisitions to expand their global presence and
industry share
Browse more reports of this category by Grand View
Research: https://www.grandviewresearch.com/industry/specialty-glass-ceramic-and-fiber
Grand View Research has segmented the
esterquats market on the basis of application and region:
Application Outlook (Volume, Kilotons; Revenue, USD
Million; 2010 - 2024)
·
Fabric Care
·
Personal Care
·
Industrial
Regional Outlook (Volume, Kilo Tons; Revenue, USD
Million, 2010 - 2024)
·
North America
·
Europe
·
Indian Sub-Continent
·
Rest of Asia Pacific
·
Latin America
·
GCC
·
KSA
·
Rest of Middle East
·
Africa
Access press release by
Grand View Research:
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.
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