Global Esterquats Market Poised for Robust Growth, Reaching $1.5 Billion by 2031: Environmental Considerations and Feedstock Trends, Diverse Applications Across Industries
Dublin, May 10, 2024 (GLOBE NEWSWIRE) -- The "Esterquats Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)" report has been added to * ResearchAndMarkets.com's* offering.
The global market for esterquats is experiencing significant growth, with a projected steady compound annual growth rate (CAGR) of 4% from 2024 to 2031. Factors such as an increase in population, urbanization, and rising disposable income are contributive to the expansion. Demand is being particularly driven by the enhanced efficiency sought in laundry care, bolstered by the proliferation of automated washing machines in mature markets.
*Assessment of Product Segmentation*
TEA-quats currently hold a commanding share of the esterquats market and continue to see increased demand in varied applications ranging from personal care to industrial uses. MDEA esterquats are also noted for their distinct properties, carving out a prominent position in the North American market.
*Environmental Considerations and Feedstock Trends*
With sustainability being a key concern, the esterquats market is leaning towards the use of vegetable-based feedstocks like tallow and palm oil. The environmental soundness and high biodegradability of esterquats reflect the industry's shift towards environmentally conscious chemical production, with a notable demand growth expected for bio-based feedstocks.
*Diverse Applications Across Industries*
Esterquats enjoy a broad range of applications beyond their traditional use in fabric care. The market sees them included in an array of products such as personal care goods, cosmetics, and as operational aids in the oil & gas sector, indicating a multifarious demand across different industries.
*Regional Market Outlook*
Europe is at the forefront of the esterquats market, holding a dominant share, with expectations to maintain its leadership going forward. Emerging markets such as China, Brazil, India, and ASEAN nations are recognized for their growth potential due to rapid urbanization and escalating disposable incomes. Meanwhile, North America is witnessing notable growth on the back of vigorous R&D investments.
*Competitive Landscape*
The esterquats market features prominent companies that are enhancing their market positions through initiatives such as product innovation, strategic alliances, and geographic expansion. These enterprises are adapting to industry demands and contributing to the robustness of the market landscape.
The esterquats market's vibrancy and resilience are evident from its extensive product applications, robust regional presence, and the strategic efforts of leading market participants. The market is set to continue on a path of growth and innovation as it adapts to the changing dynamics of both supply and demand factors worldwide.
*A selection of companies mentioned in this report includes*
· Evonik Industries AG
· Stepan Company
· Kao Corporation
· Akzo Nobel N.V.
· BASF SE
· Clariant AG
· Italmatch Chemicals S.p.A.
· ABITEC Corporation
· Hangzhou FandaChem Co.,Ltd
· Dongnam Chemical Industries Co., Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/ydxgxr
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