Key Highlights:
·
In terms
of value, the global sodium cocoyl isethionate market was stood around US$
140.0 Mn in 2018 and is anticipated to expand at a
CAGR of more than 5% from 2019 to 2027
·
Based on
type, needles/flakes was major product type accounted for more than 30% of
the total sodium cocoyl isethionate in terms of volume and value in 2018.
This can be ascribed to the extensive usage of needles/flakes type of sodium
cocoyl isethionate in soaps and cleansers. The segment is expected to maintain
its dominance during the forecast period 2019 to 2027
·
In terms
of application, skin care is a prominent segment of the sodium cocoyl
isethionate market. It accounted for more than 50% in 2018.
This can be attributed to the constantly expanding personal care industry in
the region.
·
Based on
region, North America held major share in 2018 and is expected
to grow at significant rate of more than 5% compared to other region during
forecast period 2019 to 2027.\
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Challenges in Formulation of
Sodium Cocoyl Isethionate and Limited Esthetic Appeal May Hamper Overall Demand
·
Production
of sodium cocoyl isethionate needs to be carried out in specially sealed
plants. This increases the manufacturing cost. Sulfate-free products such as
sodium cocoyl isethionate are costlier than their sulfate-based counterparts.
·
Complexities
in processing and high manufacturing costs are anticipated to hamper the sodium
cocoyl isethionate market during the forecast period. Furthermore, liquid
personal care products need to be viscous and clear. This is difficult to
achieve with sodium cocoyl isethionate, as it provides an opaque appearance to
products. This is also expected to affect the esthetic appeal of sodium cocoyl
isethionate.
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North America Dominated Global
Sodium Cocoyl Isethionate Market
·
In terms
of region, the global sodium cocoyl isethionate market has been segmented into
North America, Europe, Asia Pacific, Middle East & Africa, and Latin
America. North America accounted for more than 30% of the
global sodium cocoyl isethionate market. It is likely to remain dominant region
during the forecast period 2019 to 2027. The
region is a significant producer as well as consumer of sodium cocoyl
isethionate.
·
The
sodium cocoyl isethionate market in North America is driven by establishment of
new R&D facilities and production sites, formation of joint ventures, and
acquisitions in the anionic surfactant industry in the region. Europe and Asia
Pacific are also key consumers of sodium cocoyl isethionate.
·
Latin
America and Middle East & Africa are relatively smaller regions of the
global sodium cocoyl isethionate market. However, the market in these regions
is anticipated to expand at a moderate pace during the forecast period due to
the significant expansion in the personal care & cosmetics industry owing
to macro-factors such as rise in disposable income of consumers.
Global Sodium Cocoyl Isethionate
Market -Key Developments
·
BASF SE
divested its oleochemical surfactants business in Mexico to Stepan Company, and
the transaction was completed in the first quarter of 2018. The
business includes the oleochemical surfactants product portfolio, associated
intellectual property, and manufacturing sites at Ecatepec, Mexico. The move is
expected to help the company focus on strategic aspects of its portfolio of
home care, personal care, and industrial solutions under its care chemicals
sub-segment.
High Degree of Competition among
Market Players
·
High
degree of competition exists among players operating in the global sodium
cocoyl isethionate market. The market is dominated by large players and is
moderately consolidated. Key players account for large share of the market.
Prominent players profiled in the report are Innospec Inc., BASF SE,
Clariant International Ltd., Galaxy Surfactants Ltd., Akzo Nobel N.V., JEEN
International Corporation, KIYU New Material Co. Ltd., Taiwan NJC Corporation,
Henan Surface Chemical Industry Co. Ltd. and Huanggang Yongan Pharmaceutical
Co. Ltd.
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