16th 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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