The vendor landscape of the sodium lauroyl sarcosinate market is both fragmented and competitive, finds Transparency Market Research (TMR).
Manufacturers are ramping up their investments in exploring new methods for formulating to increase application scope. Further, small players are forming strategic long-term or short-term contracts with personal care and household products vendor to remain competitive in the sodium lauroyl sarcosinate market.
Some of the prominent players operating in the sodium lauroyl sarcosinate market are Galaxy Surfactants Ltd., Clariant Ltd., Stepan Company, Jarchem Industries Inc., Croda International Plc Schill + Seilacher GmbH, and Shanghai Oli Enterprises Co., Ltd.
Prominent players such as Cloariant and Innospec are expanding their foot presence in countries such as India, South Korea, and China. This will help them to enter new sectors.
According to business report by TMR, the global sodium lauraoyl sarcosinate market is anticipated to clock a CAGR of 4.7% from 2018 to 2026. The market was noted to register a valuation of US$ 163.8 mn at the beginning of the forecast period.
On the basis of geography, Asia Pacific is expected to hold maximum share in the global sodium lauroyl sarcosinate market in the coming few years. This is mainly because of the presence of key manufacturers in the countries like India and China. On the basis of applications, skin care segment is projected to witness maximum demands owing to rise in number of products under the segments.
High Costs and Easy Availability of Substitute to Hamper Market’s Growth
The sodium lauroyl sarcosinate market is likely to witness a robust growth in the coming few years. This is mainly due to the increasing demands among consumers regarding Sodium lauroyl sarcosinate based products due to it mild and gentle properties.
Sodium lauroyl sarcosinate is a foaming and cleansing agent used in various personal care and household products. It is widely used to lower the surface tension in the liquid. In addition to this, it is preferred owing to its features such as good ecotoxicity, mildness to the skin and the eyes, and excellent compatibility. Owing to this, sodium lauroyl sarcosinate is primarily employed in skin care applications and baby care product both in the form of liquid and soap as facial washes, and body washes.
However, factors like high costs of sodium lauroyl sarcosinate and easy availability of product are some of the major factors expected to boost the growth of the global sodium lauroyl sarcosinate market. The high costs of the sodium lauroyl sarcosinate is mainly due to the fluctuating prices of the end products.
Governmental Initiatives to Spread Awareness Regarding Cleanness and Hygiene to Boost Prospects
Moreover, players in the sodium lauroyl sarcosinate market a finding different application of product such as safe food storage, disinfect and hygienic garbage. The growing awareness among the common people for safe disposal of the garbage is expected to drive the demand for sodium lauroyl sarcosinate market in the forecast period.
Additionally, government campaigns, like Swach Bharat Mission in India, that aims to propel awareness toward hygiene among people. Such activities are expected to have a positive impact on the demand for detergents and cleaning products. This in turn drive the demand for sodium lauroyl sarcosinate market.
On the other hand, growing prominence of e-commerce and increase in number of use of washing machines in developing economies will have a positive influence in the growth of the sodium lauroyl sarcosinate market.