Global Methyl Ester Sulfonate Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

Overview and Scope
The methyl ester sulfonate market consists of sales of laundry detergents, dishwashing liquids, household cleaners, shampoos and conditioners, body washes and liquid soaps, pesticide formulations, drilling fluids, emulsifiers, agricultural adjuvants, and cosmetic products. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

Sizing and Forecast
The methyl ester sulfonate market size has grown rapidly in recent years. It will grow from $1.18 billion in 2023 to $1.34 billion in 2024 at a compound annual growth rate (CAGR) of 13.6%.  The  growth in the historic period can be attributed to rising demand for biodegradable cleaning products, growing use in personal care products, increased adoption in the detergent industry, growing demand for surfactants, increased use in hair care products, and increased use in soaps.

The methyl ester sulfonate market size is expected to see rapid growth in the next few years. It will grow to $2.25 billion in 2028 at a compound annual growth rate (CAGR) of 13.8%.  The growth in the forecast period can be attributed to growing awareness of environmental concerns, government subsidies and incentives, growing awareness of health concerns, growing demand for natural ingredients, and increased demand from the pharmaceutical sector. Major trends in the forecast period include advancements in production technology, advancements in chemical synthesis, advancements in formulation technology, advancements in packaging technology, and bio-based raw materials.

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Segmentation & Regional Insights
The methyl ester sulfonate market covered in this report is segmented –
1) By Type: Sodium Methyl Ester Sulfonate, Calcium Methyl Ester Sulfonate, Other Types
2) By Form: Liquid, Powder, Flakes
3) By Application: Detergents, Personal Care, Dish Wash, Industrial And Institutional Cleaners, Laundry, Textile Industry, Other Applications

Europe was the largest region in the methyl ester sulfonate market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the methyl ester sulfonate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The rising demand for personal care products is expected to propel the growth of the methyl ester sulfonate market going forward. Personal care products are items used for hygiene and grooming, encompassing a wide range of products to maintain and improve one's physical appearance and cleanliness. A growing emphasis on health and wellness increases spending on personal care products that enhance appearance, hygiene, and overall well-being. Methyl ester sulfonate is used in personal care products such as shampoos, soaps, and skincare products. Its mildness and ability to produce stable foams contribute to a positive user experience. For instance, in July 2023, according to the U.S. Department of Commerce, a U.S.-based governmental organization, sales of beauty and personal care products in China reached $88 billion in 2021, reflecting a 10% increase from the previous year. Therefore, rising demand for personal care products drives the methyl ester sulfonate market.

Key Industry Players
Major companies operating in the methyl ester sulfonate market are BASF SE, Wilmar International Ltd., The Dow Chemical Company, Thermo Fisher Scientific Inc., Henkel AG & Co. KGaA, Evonik Industries AG, Solvay S.A., Kao Corporation, Musim Mas Holdings Pte Ltd, Wacker Chemie AG, Nouryon, Clariant AG, KLK OLEO Group, Lion Corporation, Stephan Company, Croda International Plc, Godrej Industries Limited, Vantage Specialty Chemicals Inc., Emery Oleochemicals, Fenchem Inc., Oleon NV, P&G Chemicals, Chemithon Corporation, Berg+Schmidt GmbH & Co. KG, Pilot Chemical Company

The methyl ester sulfonate market report table of contents includes:
1. Executive Summary
2. Methyl Ester Sulfonate Market Characteristics
3. Methyl Ester Sulfonate Market Trends And Strategies
4. Methyl Ester Sulfonate Market - Macro Economic Scenario
5. Global Methyl Ester Sulfonate Market Size and Growth
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32. Global Methyl Ester Sulfonate Market Competitive Benchmarking
33. Global Methyl Ester Sulfonate Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Methyl Ester Sulfonate Market
35. Methyl Ester Sulfonate Market Future Outlook and Potential Analysis
36. Appendix