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.
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On Esterquats Market Analysis: https://www.grandviewresearch.com/industry-analysis/esterquats-market
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.
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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.
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.
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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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