Global Fatty Acids Market

The food encapsulation market consists of sales of food encapsulation products by entities (organizations, sole traders, and partnerships) that are used for incorporating food ingredients, cells, enzymes, and certain other materials into small capsules. The food encapsulation technique is widely used in the food industry, as the encapsulated materials are protected from heat, moisture, or other extreme condition. Food encapsulation is used to mask taste, color, flavor, and odor, and enhance the viability and stability of the food product. The main food encapsulation technologies include micro encapsulation, nano encapsulation, hybrid technology, and macro encapsulation. Microencapsulation is the process of reducing the volatility, adverse aroma, and reactivity of food products. When exposed to heat, light, moisture, or other adverse conditions, it offers greater stability to food products. The different shell materials in food encapsulation are polysaccharides, proteins, lipids, emulsifiers, and other shell materials. The different food encapsulation core phases are minerals, organic acids, vitamins, enzymes, probiotics, additives, essential oils, prebiotics, and other substances, which are used for applications in dietary supplements, functional food products, bakery products, confectionery, beverages, dairy products, and other applications. The global food encapsulation market size is expected to grow from $34.25 billion in 2021 to $36.33 billion in 2022 at a compound annual growth rate (CAGR) of 6.07%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global food encapsulation market size is expected to reach $46.10 billion in 2026 at a CAGR of 6.12%. The rising demand for fortified and functional foods is expected to propel the growth of the food encapsulation market. Fortified food has added nutrients, which do not occur in the food naturally. Functional food reduces the risk of disease and promotes optimal health beyond basic nutrition. Fortified and functional foods are widely used in the food encapsulation market, as they offer added nutrients or healthy ingredients. For instance, in 2020, Switzerland-based food and beverages processing company, Nestle, delivered 196.6 billion fortified servings of food and beverages through their popular brands including Bear Brand, Cerevita, and Maggi. Technological advancement is a key trend gaining popularity in the food encapsulation market. Technological advancement is a discovery of knowledge that advances technology. For instance, in February 2022, Givaudan, a Switzerland-based manufacturer of food and flavors launched PrimeLock+, a breakthrough fat encapsulation technology that reduces 30% of the calories and 75% of the fat content in meat substitutes. The innovation in fat encapsulation also offers increased authenticity and flavor stabilization which allows allow companies to create tastier, lower fat, plant-based products such as burgers, sausages and meatballs while improving the eating experience. In February 2021, International Flavors & Fragrances Inc (IFF), a US-based producer of value-added ingredients merged with the Nutrition and Biosciences Business of DuPont, for a deal amount of $7.3 billion. Through this merger, IFF aims at creating ingredients and solutions across a wide range of end-markets including food and beverage, health and wellness, and home and personal care. DuPont Nutrition Biosciences is a Denmark-based developer and producer of food and beverage ingredients, enzymes, and bio-based solutions, that also provides food encapsulation solutions. Major players in the food encapsulation market are Cargill, Incorporated, DuPont, Royal DSM, FrieslandCampina, Kerry, International Flavors & Fragrances Inc, Symrise, Balchem Inc, Firmenich SA, Advanced Bionutrition Corp, Aveka, Lycored, Encpasys LLC, Blue California, FierslandCampina Kievit, Coating Place Inc, Vitablend, Clextral, Tastetech and Givaudan North America was the largest region in the food encapsulation market in 2021. Asia Pacific is expected to be the fastest-growing region in the global food encapsulation market during the forecast period. The regions covered in the global food encapsulation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the food encapsulation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global food encapsulation market is segmented - 1) By Technology: Micro Encapsulation, Nano Encapsulation, Hybrid Technology, Macro Encapsulation 2) By Shell Material: Polysaccharides, Proteins, Lipids, Emulsifiers, Others 3) By Core Phase: Minerals, Organic Acids, Vitamins, Enzymes, Probiotics, Additives, Essential Oils, Prebiotics, Other Substances 4) By Application: Dietary Supplements, Functional Food Products, Bakery Products, Confectionery, Beverages, Dairy Products, Others

The rubber products market consists of sales of rubber products by entities (organizations, sole traders and partnerships) that produce tires and retreading, rubber hoses and belting, rubber sealants and all other rubber products which have domestic and industrial applications. The main types of rubber products are tire, hoses and belting and other rubber products. A tyre, sometimes known as a tyre, is a ring-shaped element which covers the rim of a wheel to carry a vehicle’s weight from the axle to the earth while also providing grip on the ground over which the wheel moves. The different processes include molded, extruded, fabricated, latex-based, others and is used in various sectors such as construction & infrastructure, automotive, electrical & electronics, others. The global rubber products market size is expected to grow from $340.99 billion in 2021 to $370.86 billion in 2022 at a compound annual growth rate (CAGR) of 8.8%. The rubber products market is expected to grow to $496.02 billion in 2026 at a CAGR of 7.5%. Technology is expected to be a continued driver of rubber products market growth during this period. Industries that involve technology, such as this one, benefited from this trend during this period. For example, technologies such as "Green Tires", where 20-30% of a vehicle's fuel consumption is related to tire performance, took off during this period. Green Tires offer wet grip, durability and low rolling resistance, reducing fuel consumption by 5-7%. Thus, technological advances which enabled improved performance, reduced fuel consumption contributed to the rubber products market growth. The outbreak of the Coronavirus disease (COVID-19) has acted as a massive restraint on the rubber products market in 2021 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in halting of manufacturing activities and a decline in economic activity with countries entering a state of lockdown and the outbreak had a negative impact on businesses throughout 2021 and into 2021. However, it is expected that the rubber products manufacturing market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy. Computer simulation and 3D printing technology is expected to have a significant impact on the rubber products market. Increasing number of companies are adopting 3D technology to design and develop rubber products. Software aided system offers 3D presentations on production line processes, including potential fault lines and also provides control on the manufacturing process. For example, Stratasys develops 3D printing technologies to produce automotive tires that can be customized to different levels of hardness, and elongation. Major companies in the rubber products market include The Michelin Group, Bridgestone Corporation, Continental AG, Good Year Tire & Rubber Company, Sumitomo Rubber Group, The Hankook Tire group, Pirelli & C SpA, Yokohama Rubber Company Ltd, Toyo Tire & Rubber Co Ltd and Toyota Tsusho. Asia Pacific was the largest region in the rubber products market in 2021. North America was the second largest region in the rubber products market. The regions covered in the rubber products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the rubber products market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The global rubber products market is segmented - 1) By Type: Tire, Hoses and Belting, Others 2) By Process: Molded, Extruded, Fabricated, Latex-Based, Others 3) By End-User Industry: Construction and Infrastructure, Automotive, Electrical and Electronics, Others Subsegments Covered: Radial Tires, Bias Tires, Rubber Hoses, Rubber Belts

The ethyl alcohol and other basic organic chemicals market consists of the sales of ethyl alcohol and other basic organic chemicals by entities (organizations, sole traders, or partnerships) that distill wood or gum into products, such as tall oil and wood distillates, distill coal tars, produce wood or gum chemicals, such as naval stores, natural tanning materials, charcoal briquettes, and charcoal (except activated), produce cyclic crudes or cyclic intermediates (i.e., hydrocarbons, except aromatic petrochemicals) from refined petroleum or natural gas, and/or produce basic organic chemical products (except aromatic petrochemicals, industrial gases, synthetic organic dyes and pigments, gum and wood chemicals, cyclic crudes and intermediates, and ethyl alcohol). The main types of ethyl alcohol and other basic organic chemicals are synthetic sweeteners, plasticizers, ethyl alcohol, silicone (except resins), fatty acids, gum, and wood chemicals. Ethyl alcohol is a colorless, volatile, flammable liquid C2H5OH that is the intoxicating agent in liquors and is used as a solvent and in fuel. The grades are food grade, industrial grade, and cosmetics grade. The end-user industries are the chemical industry, coating and printing industry, electronics industry, food and pharmaceutical industry, and other end-user industries. The global ethyl alcohol and other basic organic chemical market size is expected to grow from $1,087.27 billion in 2021 to $1,176.33 billion in 2022 at a compound annual growth rate (CAGR) of 8.2%. The global ethyl alcohol and other basic organic chemical market size is expected to grow to $1,556.98 billion in 2026 at a CAGR of 7.3%. Ethyl alcohol or ethanol is being used as a combination with motor fuel in some countries. Ethyl alcohol used for fuel is being blended into gasoline at concentrations of 5% to 10%. Mostly sugar cane and corn are used to produce ethanol. For example, ethanol has replaced methyl tertiary butyl ether as a gasoline component and 50% of cars in Brazil are using 100% ethanol as fuel. Ethanol-only engines and flex-fuel engines are also adding to the growth of this market. Furthermore, many state and local governments in emerging markets such as China and India are passing laws for mandatory blending of ethanol in gasoline and diesel to reduce carbon emissions. For instance, China announced a nationwide ethanol mandate, which expanded the mandatory use of E10 fuel (gasoline containing 10% ethanol) from 11 trial provinces to the entire country by 2020, thus driving the growth of the ethyl alcohol market. Interest rates globally are forecasted to rise in most of the developing and developed economies during the forecast period. This is expected to limit new investments in the market. Most countries across the world are raising interest rates to control inflation and also to limit the flow of capital out of the country. This is likely to affect new investments in terms of expansion, research, and development of new products. For instance, the US interest rates are expected to rise up to 3.5% by 2021. These factors are expected to have a negative impact on the market as borrowing money will become expensive, thereby affecting market growth. Chemical companies are increasingly using automation and instrumentation solutions to control the production process more effectively. Automation instruments include control valves, temperature transmitters, level transmitters, flow transmitters, and pressure transmitters that help to improve operational efficiency in manufacturing facilities. For example, Siemens process instrumentation and gas analytics solutions increase productivity and efficiency during plant operations. Major companies in the ethyl alcohol and other basic organic chemical market include Archer-Daniels-Midland Company (ADM), Wacker Chemie AG, Celanese, Valero Energy Corp, Lanxess AG, Evonik Industries AG, Kao Corporation, The Clorox Co, Eastman Chemical Corporation, and Atul Limited. Asia Pacific was the largest region in the ethyl alcohol and other basic organic chemical market in 2021. North America was the second-largest region in the global ethyl alcohol and other basic organic chemical market. The regions covered in the global ethyl alcohol and other basic organic chemical market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the ethyl alcohol and other basic organic chemical market are Argentina, Australia, Austria, Bangladesh, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Iran, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, Ukraine, USA, and Vietnam. The global ethyl alcohol and other basic organic chemical market is segmented - 1) By Type: Synthetic Sweeteners, Plasticizers, Ethyl Alcohol, Silicone (except Resins), Fatty Acids, Gum and Wood Chemicals 2) By Grade: Food Grade, Industrial Grade, Cosmetics Grade 3) By End Userr Industry: Chemical Industry, Coating & Printing Industry, Electronics Industry, Food & Pharmaceutical Industry, Other End-User Industries

The functional food ingredients market consists of sales of functional food ingredients by entities (organizations, sole traders, and partnerships) that are bioactive compounds or ingredients used in manufacturing functional food products. Vitamins, minerals, antioxidants, hydrocolloids, prebiotics, amino acids, plant extracts, and carotenoids are some examples of functional food ingredients. The ingredients in functional foods provide health benefits, and some of them include supplements or other additives. The main types of functional food ingredients are probiotics and prebiotics, carotenoids, dietary fibers fatty acids, vitamins, minerals, and others. Carotenoids are fat-soluble pigments found generally in fruits, flowers, plants, algae, and photosynthetic bacteria. They are also found in some non-photosynthetic bacteria, molds, and yeasts. Carotenoids act as a type of antioxidant for humans and are important for human health. It protects the human body against serious disorders such as heart disease, cancer, and degenerative eye disease. The different sources include natural, synthetic and are used in beverages, dairy products, infant food, bakery and confectionery, others. The global functional food ingredients market size is expected to grow from $93.09 billion in 2021 to $101.27 billion in 2022 at a compound annual growth rate (CAGR) of 8.8%. The global functional food ingredients market size is expected to grow to $137.3 billion in 2026 at a compound annual growth rate (CAGR) of 7.9%. The rise in demand for fortified food & beverage products is expected to contribute to the growth of the functional food ingredients market. Fortified foods are functional foods that lack natural nutrients; nutrients are added to them. These foods boost nutrition and provide health advantages. Fortified foods are functional foods without natural nutrients in them, nutrients are added to them, and these foods improve nutrition, add health benefits. Fortified foods & beverage products consumption is increasing due to growing health consciousness in consumers, increasing disease occurrences, increasing consumer’s disposable income. The medicinal properties of these foods in providing healing benefits apart from energy and essential nutrients are motivating consumers to spend more on healthy food products. According to the Kerry Group study, in 2019, 65% of consumers seek functional benefits in their food & beverages, and apple cider vinegar sales as a grown-up by 86% for its digestive and blood sugar managing properties. Therefore, the rise in demand for fortified food & beverage products will drive the functional food ingredients market growth. Collaborations and partnerships are are key trends gaining popularity in shaping the functional food ingredients market. Major companies operating in the functional food ingredients sector are focused on partnering or collaborating with other companies to develop innovative solutions for functional food ingredients. For instance, in December 2019, Cargill, a US-based food company, and Renmatix, a US-based plant ingredient innovations company, signed a joint development agreement (JDA) to explore a novel approach for making functional food ingredients from unutilized plants material. This agreement was to manufacture highly functional food ingredients. The companies will use Renmatix’s Plantrose Process, which is a proprietary water-based technology, and Cargill’s preferred feedstocks. In July 2021, Kerry Group, an Irish-based food company announced that it is acquiring Biosearch Life for a $150 million deal amount. Through this acquisition, Kerry Group can expand its healthy ingredient portfolios such as probiotics and omega-3. The expansion of a healthy ingredient portfolio can boost its capabilities within functional foods and proactive health ingredients. Biosearch Life, based in Spain, is a biotechnology company that manufactures healthy natural ingredients such as Omega-3, Probiotics, Botanical Extracts. Major players in the functional food ingredients market are Cargill, BASF, Archer Daniels Midland, DuPont Nutrition & Biosciences, Arla Foods, Kerry Group, Ajinomoto, DSM, Ingredion Incorporated, Tate & Lyle, Roquette Frères, Nestle, Fuerst Day Lawson, Ashland, A&B Ingredients, and Royal Cosun. North America was the largest region in the functional food ingredients market in 2021. Europe was the second-largest market in the global functional food ingredients market. The regions covered in the global functional food ingredients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the functional food ingredients market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global functional food ingredients market is segmented - 1) By Type: Probiotics and Prebiotics, Carotenoids, Dietary Fibers, Fatty Acids, Vitamins, Minerals, Other Types 2) By Source: Natural Synthetic 3) By Application: Beverages, Dairy Products, Infant Food, Bakery and Confectionery, Other Applications

The tall oil fatty acid market consists of sales of tall oil fatty acids by entities (organizations, sole traders, and partnerships) that manufacture tall oil fatty acids. Tall oil fatty acid (also known as liquid rosin or tallol) is a light-colored tall oil fatty acid obtained by fractional distilling crude tall oil. It is obtained from crude tall oil, a by-product of the Kraft paper pulping process, and is used where long-chain fatty acids are required. The main products of tall oil fatty acid are oleic acid, linoleic acid, and other types. Oleic acid is a type of fatty acid found in a variety of animal and vegetable fats and oils and is used in varied industries including lubricants, detergents, surfactants, coatings, and sealants. The different applications of tall oil fatty acid include dimer acid, alkyd resin, fatty acid ester, and other applications and are implemented in various sectors such as soaps and detergents, plastic additives, coatings, lubricants, fuel additives, and other sectors. The global tall oil fatty acid market size is expected to grow from $907.47 million in 2021 to $980.5 million in 2022 at a compound annual growth rate (CAGR) of 8.0%. The global tall oil fatty acid market size is expected to grow to $1,149.14 million in 2026 at a CAGR of 4.0%. The increasing demand for tall oil-based biofuel is expected to drive the growth of the tall oil fatty acid market in the coming years. Tall oil is a byproduct of the pulp and paper industry that is often used to produce biofuels. The tall oil-based biofuel is used in various products such as pharmaceuticals, paints and coatings, lubricants, soaps, detergents, additives and helps in reducing greenhouse gas emissions and increasing the reusability of used materials. For instance, according to a report by Lubes and Greases, the demand for transportation-grade crude tall oil-based biofuels is anticipated to rise from 320,000 tons per year in 2019 to 880,000 tons per year in 2030. Therefore, the increasing tall oil-based biofuel is expected to boost the growth of the tall oil fatty acid market. The growing technological advancements are shaping the tall oil fatty acid market. Major companies operating in the tall oil fatty acid sector are focused on developing technological solutions for tall oil fatty acids. For instance, in February 2019, Calyxt, a US-based food, and agriculture company declared the successful commercial launch of Calyno High Oleic Soybean Oil- the firm's first product to be marketed in the USA, which involves advanced gene-editing technology. When compared to commodity soybean oil, Calyno oil comprises nearly 80% oleic acid and up to 20% fewer saturated fatty acids, and zero grams of Trans fat per serving. It also has up to 3 times the fry life and prolonged shelf life making it a more affordable product. In October 2019, Daelim Industries, a US-based petrochemical, and construction company has announced the acquisition of the Cariflex Business Unit of Kraton Corporation for $530 million. The acquisition aims to provide Daelim Industries customers with a wide range of innovative products while serving the medical and other high-end markets. Kraton Corporation is a US-based company that is engaged in the manufacturing of biobased chemicals and specialty polymers. Major players in the tall oil fatty acid market are Forchem, Harima Chemicals, Georgia Pacific, Eastman, Lascaray, Chemical Associates, Univar Solutions, and Claremont Chemical Company Limited. North America was the largest region in the tall oil fatty acid market in 2021. The regions covered in the global tall oil fatty acid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the tall oil fatty acid market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The global tall oil fatty acid market is segmented - 1) By Product: Oleic Acid, Linoleic Acid, Other Products 2) By Application: Dimer Acid, Alkyd Resin, Fatty Acid Ester, Other Applications 3) By End User: Soaps and Detergents, Plastic Additives, Coatings, Lubricants, Fuel Additives, Other End Users

The benzene market consists of sales of benzene and related services by entities that produce benzene. Benzene is used as an intermediary chemical in the manufacture of plastics, resin, nylons, and synthetic fibers. The main manufacturing process of benzene is pyrolysis steam cracking of naphtha, catalytic reforming of naphtha, toluene hydrodealkylation, toluene disproportionation, and biomass. toluene disproportionation benzene from less valuable toluene. These are derived from ethylbenzene, cumene, alkylbenzene, aniline, chlorobenzene, cyclohexane, maleic anhydride, and other derivatives. Benzene is applied in plastics, resins, synthetic fibers, and rubber lubricants. The global benzene market size is expected to grow from $67.61 billion in 2021 to $71.59 billion in 2022 at a compound annual growth rate (CAGR) of 5.9%. The global benzene market size is expected to grow to $84.81 billion in 2026 at a CAGR of 4.3%. The increased use of styrene to drive the benzene market. The benzene derivate ethylbenzene is majorly used in the manufacturing of styrene. Styrene is used in the production of various products, such as styrene-acrylonitrile (SAN), acrylonitrile-butadiene-styrene (ABS), polystyrene, styrene-butadiene elastomers, latexes, unsaturated polyester resins among others. There is an increased demand for styrene-based polymers and copolymers in the automotive industry due to their lightweight nature. For instance, according to the American Chemistry Council (ACC), the fuel economy of a vehicle can improve by 6-8% by reducing the weight of a vehicle by 10%. Usage of plastics like styrene can reduce the weight of vehicles, thereby improving fuel economy. The usage of styrene has also benefited manufacturers by reducing vehicle assembly time and costs. These advantages of the usage of styrene-based polymers and copolymers especially in the automotive industry are expected to contribute to the growth of the benzene market. Stringent safety regulations associated with the manufacturing and transportation of benzene were a major restraint on the market. Benzene is highly inflammable, toxic, and hazardous when exposed to extreme temperatures and pressures. Companies in this market should invest in equipment, technologies, and processes to limit the toxic levels and chemical concentrations as they may harm the environment and population. Humans, when exposed to benzene in the air for a certain amount of time lose their life. In order to provide a safe environment, government agencies limit the amount of benzene that can be released into the environment. For instance, the EPA (Environmental Protection Agency) has set the maximum permissible level of benzene in drinking water at 5 ppb (per billion parts of air). These regulations have increased the operating costs of companies in this industry, thus restricting the growth of the market. Many companies in the benzene market are focusing on research and developmental activities to discover new technologies and processes for the production of benzene. The technologies developed are expected to help curb environmental issues. For instance, Reliance Industries Limited entered into a joint venture with the Indian Institute of Petroleum (IIP), Dehradun, to develop a technology that restricts benzene content in the gasoline pool to address health and environmental concerns. The increase in such technological advances to reduce emissions will gain traction contributing to the growth of the market. In October 2019, Saudi Basic Industries Corp (SABIC) completed the merger of its wholly-owned affiliates Saudi Petrochemical Company (Sadaf) and Arabian Petrochemical Company (Petrokemya). This deal will transfer Sadaf’s assets, rights, liabilities, and obligations to Petrokemya and increase the efficiency of SABIC’s operations. Petrokemya is a Saudi Arabian company that produces feedstock chemicals including propylene, ethylene, butene, benzene, and butadiene. Major players in the benzene market are Ameriya Oil Ref. Co., Angarsk Petrochemical, Alexandria National Refining, and Petrochemicals Company (ANRPC), Arsol Aromatics GmbH & Co. KG, Atyrau Oil & Gas, Azerkhimija, BASF SE, Borealis AG, Bp Plc, and Braskem. The Asia Pacific was the largest region in the benzene market in 2021. The regions covered in the global benzene market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the benzene market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia. The global benzene market is segmented - 1) By Manufacturing Process: Pyrolysis Steam Cracking of Naphtha, Catalytic Reforming of Naphtha, Toluene Hydrodealkylation, Toluene Disproportionation, From Biomass 2) By Derivative: Ethylbenzene, Cumene, Alkylbenzene, Aniline, Chlorobenzene, Cyclohexane, Maleic Anhydride, Other Derivatives 3) By Application: Plastics, Resins, Synthetic Fibers, Rubber Lubricants

The soap and cleaning compounds market consists of the sales of soap and cleaning compounds by entities (organizations, sole traders, or partnerships) that produce and package soaps and other cleaning compounds, surface-active agents, and textile and leather finishing agents used to reduce tension or speed the drying process. The main types of soap and cleaning compounds are soap and other detergents, surface-active agents, polish, and other sanitation goods. Surface active agents are substances that will reduce the surface tension of a liquid in which it is dissolved, thereby increasing its spreading and wetting properties. The categories are mass, and premium. The applications are household, and commercial. The end-use applications are health and beauty, dishwasher, clothes, and other end-use applications. The distribution channels are hypermarkets/supermarkets, e-commerce, pharmacy stores, and other distribution channels. The global soap and cleaning compounds market size is expected to grow from $157.02 billion in 2021 to $172.1 billion in 2022 at a compound annual growth rate (CAGR) of 9.6%. The global soap and cleaning compounds market size is expected to grow to $242.7 billion in 2026 at a CAGR of 9%. The global population is 7.9 billion in 2022, thus increasing the global demand for soaps and cleaning products. This significant rise in demand from the population for end-use products gave a major boost to the overall soap and cleaning compounds market. Additionally, rapid urbanization especially in the developing economies supported the demand for these compounds through increased end-use product consumption. The raw materials market is highly volatile, this is expected to have a negative impact on the growth of the soap and cleaning compounds market during the forecast period. When increasing raw material costs coincide with decreasing sales prices, soap and cleaning companies have to compromise on their profit margins. Rising trucking, railroad, dry-bulk, and air-freight rates are also negatively impacting the market. Soap and cleaning product manufacturers are extremely sensitive to fluctuating raw material costs. Companies in the industry are replacing triclosan and triclocarban with chemicals such as benzalkonium chloride, benzethonium chloride, or chloroxylenol (PCMX) as they are known to be harmful to both health and the environment. Triclosan and triclocarban are the anti-microbial ingredients used in personal care products to stop or slow the growth of bacteria causing harm. These agents are used in products such as soaps, lotions, hand washes, toothpaste, mouthwashes, soaps, deodorants, and cleaning compounds. Food & Drug Administration stated that the manufacturers did not demonstrate the ingredients to be safe for long-term daily use and more effective in preventing illness and spread of infections. They are also found in water bodies, thus affecting marine life. For instance, P&G and Unilever, consumer products companies, stopped manufacturing and using triclosan and triclocarban agents and are replacing them with other chemical ingredients Major companies in the soap and cleaning compounds market include Procter & Gamble, Unilever plc, SC Johnson & Son Inc, Henkel AG & Co KGaA, Ecolab Inc, BASF SE, Colgate-Palmolive co, Kao Corporation, Reckitt Benckiser Group plc, and The Clorox Co. Asia Pacific was the largest region in the soap and cleaning compounds market in 2021. Western Europe was the second-largest region in the global soap and cleaning compounds market. The regions covered in the global soap and cleaning compounds market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the soap and cleaning compounds market are Argentina, Australia, Austria, Bangladesh, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Iran, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, Ukraine, USA, and Vietnam. The global soap and cleaning compounds market is segmented - 1) By Type: Soap and Other Detergents, Surface Active Agents, Polish and Other Sanitation Goods 2) By Application: Household, Commercial 3) By Distribution Channel: Hypermarkets/Supermarkets, E-Commerce, Pharmacy Stores, Other Distribution Channels 4) By Category: Mass, Premium 5) By End User Application: Health & Beauty, Dishwash, Clothes, Other End Use Applications