The global esterquats market is witnessing appreciable growth owing to increasing demand for highly effective and environment-friendly fabric conditioners, softening agents, and anti-static agents in various industrial and household cleaning products. Esterquats chemical substances are extensively used as surfactants in fabric softeners and conditioners due to their abilities to reduce static in clothes and impart a feeling of softness after drying. They are also utilized in various personal care products such as hair conditioners, body washes, and skin creams to enhance their conditioning properties. Additionally, growing awareness regarding the hazards of chlorine-based chemicals and stringent regulations on volatile organic compound emissions are increasing the adoption of eco-friendly esterquats across industries.
The Global Esterquats Market is estimated to be valued at US$ 2,441 MN in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2024 to 2031.
Key Takeaways
– Key players operating in The Global Esterquats Market are Stepan Company, Kao Chemicals Europe, S.L.U, Evonik Industries, Akzo Nobel N.V., Chemelco, ABITEC, BASF SE, The Lubrizol Corporation, Italmatch Chemicals S.P.A., CLARIANT. Stepan Company dominates the market owing to its wide product portfolio and global presence.
– Growing demand for fabric softeners, fabric conditioners, and personal care products from developing economies of Asia Pacific is fueling the growth of the esterquats market. Rapid urbanization and changing lifestyles are increasing the demand for laundry and personal care goods in the region.
– Major players are expanding their production facilities and procuring raw materials globally to cater to the rising needs of various end-use industries. Companies are also focusing on developing eco-friendly and multi-purpose esterquat formulations to strengthen their market position.
Market key trends
– Increased focus on developing bio-based esterquats using renewable resources such as vegetable oils and bio-alcohols is one of the key trends in the market. This helps manufacturers reduce dependency on petroleum-based products and strengthen their sustainability credentials.
Porter’s Analysis
Threat of new entrants: Low capital requirement however established players have economies of scale and brand recognition.
Bargaining power of buyers: Large buyers have more bargaining power due to their buying volume.
Bargaining power of suppliers: Suppliers have moderate bargaining power as they have differentiated products but substitution is possible.
Threat of new substitutes: Threat of substitutes is moderate as new substitutes require significant R&D and regulations.
Competitive rivalry: Intense competition among existing players to gain market share.
Geographical Regions
The global esterquats market in terms of value is concentrated in North America and Europe region. Both the regions together account for around 60% of the total market share owing to high demand from personal care, fabric and home care industries in countries like United States, Germany, United Kingdom etc.
Asia Pacific region is the fastest growing geographical region for global esterquats market. Countries like China, India, Indonesia, Thailand etc are witnessing double digit growth rate in demand for esterquats mainly due to expanding middle class population, changing lifestyles and increasing consumption of personal care and fabric care products.