Esterquats Market Size, Business Strategy, Overview, Competitive Landscape and Forecasts 2024

Posted on 2019-09-16 by researchinsights in Chemicals // 0 Comments

16^th September 2019 – The global Esterquats Market size is expected to value at USD 3.45 billion by 2024. The market is subject to witness a substantial growth due to the growing demand from fabric softener industry. Additionally, the rise in requirement for high performance and sweet-scented fabric softeners is anticipated to fuel demand for the market over the forecast period. Other factors responsible for the growth of the market are rise in the awareness among users, increase in the personal disposable income and innovation in fabric softener products. Globally, the esterquats industry is predicted to grow at CAGR of 11.0% in forecast period, providing numerous opportunities for market players to invest for research and development in the market.

With the recent technological developments coupled with superior performance and lower cost of esterquats products have led to increasing adoption of esterquats during production of fabric softeners. Esterquats offers low toxicity and bio-degradability, which makes it an ideal alternative to dihydrogenated tallow alkyl dimethyl ammonium chloride during manufacturing of fabric softeners. Rise in the investment by industry leaders in research and development of esterquats is expected to propel the growth of the market in coming years.

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Hair care is one of the fastest growing segment in esterquats market with higher revenue generation over the forecast period. Governmental laws and regulation related with use of conventional material and their environmental impact, is promoting adoption of esterquats in health and beauty care industry. With rise in the young population across the globe coupled with rapid urbanization, higher employment rate, and rise in the standard of living are catering to the growth of the market in coming years.

Latest trends such as salon hair care and rise in the investment by market players in the hair care sector are further driving growth of the market. Properties such as bio-degradability of esterquats are vital during production of car washes, thus expanding reach of esterquats industry. Rise in popularity of the esterquats in the automobile sector is directly attributed to the properties such as anti-rust and corrosion resistance.

Constant changes in lifestyle, improved living standards and higher purchasing power of consumers are spurring market demand further. Increased sales of washing machines in developing and underdeveloped economies across the globe is expected to further augment growth of the esterquats market. Esterquats are primarily used as a cationic surfactant during various manufacturing processes such as washing, cleaning of large materials, and paper softening. Important characteristics of the esterquats such as surface activity, substantively, anti-microbial, and anti-static characteristics vital during numerous industrial applications. Early adoption of the cleaning processes during industrial applications limits corrosion and improves overall life span of the product.

Esterquats, also known as a quaternary ammonium compound, consists of two long fatty acid chains with two weaker ester bonds. Addition of two ester bonds into the aliphatic chains has substantially enhanced the bio-degradation process of the cationic surfactants, thus limiting negative impact on the environment.

The esterquats industry is divided into regional market segment such as North America, Europe, Asia-Pacific, Latin America and Africa. European region has shown major growth in recent years owing to the rise in the number of governmental regulation associated with adoption of environmental friendly products, and easy accessibility for numerous fabric softeners. The demand in Europe is driven by countries such as UK, Germany, Spain, and Italy. Asia-Pacific region is predicted to hold major market share in the esterquats market with massive growth in forecast period. Countries such as South Korea, Japan, and China are leading the Asia-Pacific market with rising awareness among users related to health benefits of various ingredients used during production personal care and fabric care products and growing investment by industry leader considering poetical opportunities in the region.

The key players in the esterquats industry are Stepan Company Incorporations, Kao Chemicals Europe, S.L., Evonik Industries AG, AkzoNobel N.V., Chemelco International B.V., ABITEC Co., BASF Co., Lubrizol Co., Italmatch Chemicals S.p.A., and Clariant Chemicals Limited.

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