Peru Surfactants Market Overview
The
Peru Surfactants market size is estimated to grow at a CAGR of around 3.5% during
the forecast period 2022-2027. Surfactants are chemical compounds that lower
the surface tension of the liquid and allow the increased spread-ability
between the liquid-liquid interface or liquid-gas interface. Mainly, they are of four types namely, cationic surfactants, amphoteric surfactants, anionic surfactants and non-ionic surfactants such as phosphate esters, esterquat, ethoxylates
& poloxamers. In a country like Peru, surfactants are used in industries
like textiles, metal, automotive, construction and mining. Hence, factors like
high demand for passenger cars, growing mining activities, increase steel
production and growing textile exports are driving the growth of Peru's
surfactants market. However, the negative impact of surfactants on the environment
can limit the usage of surfactants in some industrial sectors in Peru which can
hamper the growth of the Peru surfactants industry. In 2020, COVID-19 negatively
impacted Peru's surfactants market as there was a decline seen in certain end-user
of surfactants in Peru such as automotive. For instance, according to the International
Organization of Motor Vehicle Manufacturers, in 2020, overall sales of new
passenger cars in Peru were 81,496 units, showing a 29% decrease in sales
compared to the number of units sold in 2019. Surfactants such as amphoteric surfactants are used as automotive engine lubricants to help keep the particles from sticking to engine parts. Hence, the decrease in sales of automotive had a negative
impact on the usage of surfactants in them. This declined the growth of the Peru
surfactants industry.
Report Coverage
The “Peru Surfactants Market Report – Forecast
(2022 – 2027)” by IndustryARC, covers an in-depth analysis of the
following segments in the Peru surfactants industry.
Key Takeaways
- Surfactants form a major ingredient in making detergents, especially laundry and dishwashing detergent as it works by breaking down the interface between water and dirt, thereby allowing their removal.
- The higher execution of public work has helped in raising the construction activities in Peru which would create more usage of surfactants in construction applications like adhesives and concretes.
- The steadily growing crude oil production capacity of Peru would create growth opportunities for the Peru surfactants industry, as surfactants are used during crude oil production as emulsion breakers.
Figure: Peru Surfactants Market Revenue, By End-Use Industry, 2021 (%)
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Anionic surfactants segment held the largest
share in the Peru surfactants market in 2021 and is forecasted to grow at a
CAGR of 3.2% during the forecast period 2022-2027. Anionic surfactants have
rich anti-corrosive properties due to which such surfactants have high usage in
the metal sector where they are used as a wetting agent in the casting process
of metals. The growing production of metals such as steel will positively
impact the usage of anionic surfactants in steel casting. For instance,
according to Peru’s National Institute of Statistics and Informatics, in
December 2020, steel production in Peru was 105 thousand tones, showing a 15.7%
increase in comparison with production volume in 2019 for the same month. Such an
increase in steel production will increase the usage of anionic surfactants
such as phosphate esters as a wetting agent in the steel casting process, which
will have a positive impact on the anionic surfactants' growth over the
forecasted period.
Peru Surfactants Market Segment Analysis – by Application
The detergent segment held the largest share
in the Peru surfactants market in 2021 and is forecasted to grow at a CAGR of 4.4%
during the forecast period 2022-2027. Surfactants are among the most essential ingredients encountered in
detergents such as laundry and dishwashing detergents due to their cleaning and foaming properties. One of the surfactants that are mostly used in laundry detergents is
anionic surfactants such as phosphate esters because of their excellent work to
remove dirt, clay and oily particles from items such as clothes, dishes and
other household items. Hence, due to rapid urbanization and a growing focus on a
hygienic lifestyle, the demand for household cleaning products especially
detergents has increased in countries like Peru. Such growing demand will
increase the usage of surfactants in detergents as wetting agents in Peru. This
extensive factor will have a positive impact on the detergent segment growth during
the forecast period, thereby boosting the market growth of the Peru surfactants
industry.
Peru Surfactants Market Segment Analysis – by End-Use Industry
The cleaning industry held the largest portion of Peru surfactants market share in 2021 and is forecasted to grow at a CAGR of 5.3%
during the forecast period 2022-2027. Surfactants namely anionic surfactants
are majorly used in the cleaning sector in products like detergents. Hence, due to their rich surface activity, they help in the removal
of oil, grease and dust particles from solid surfaces and keep them in suspension in the
wash solution, preventing redisposition on clothes. Growing domestic demand in
Peru on account of an increase in household consumption would create more demand
for household products like detergents, which is anticipated to
drive the market growth of the Peru surfactants market.
Peru Surfactants Market Drivers
High demand for Passenger Vehicles
Amphoteric
surfactants or non-ionic surfactants such as poloxamer and ethoxylates when
added to automotive engine lubricants, help to keep the particles from sticking
to engine parts which keep the car in running condition. Factors such as
improvement in consumer purchasing power, low-interest rates and improvement
in the economy have increased demand for new passenger vehicles in Peru. For
instance, according to the International Organization of Automotive
Manufacturers, in 2021, the overall number of registrations of new passenger
cars in Peru was 1,11,436 units, showing a 37% increase in comparison to the number
of vehicles registered in 2020. Hence, such an increase in passenger car
registration in Peru will increase the usage of surfactants as an emulsifier in
engine lubricants, thereby boosting the growth of the Peru surfactants
industry.
Increase in Oil Production
Surfactants
such as anionic surfactants are used in the oil and gas sector during crude oil
refining. Hence, they are used to reduce the
interfacial tension between oil and water, promote emulsification, reduce the
solubility of oil and water, increase the rock absorption of crude oil and
reduce the viscosity of crude oil. The growing investment of Peru in its
oil & gas sector has increased
its production level of crude oil. For instance, according to US Energy
Information Administration, in January 2022, crude oil production in Peru was
44,000 barrels per day showing a 12% increase in comparison with 39,000 barrels
produced in December 2020. The increase in crude oil production will increase
the usage of surfactants in the oil & gas sector in Peru, which will have a
positive impact on the growth of Peru's surfactants industry.
Peru Surfactants Market Challenge
Negative Impact on Environment
Peru Surfactants Industry Outlook
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Peru Surfactants market. Top 10 companies in the Peru Surfactants market are:
- Azko Nobel
- Clariant AG
- BASF FE
- Evonik Industries
- Solvay
- Croda International Plc.
- Dow Chemical Company
- Evonik Industries
- Lubrizol Corporation
- Savanah Surfactants
Relevant
Reports
Surfactants Market – Forecast (2022 - 2027)
Report Code – CMR 0209
Low Foam Surfactants Market – Forecast (2022 - 2027)
Report Code – CMR 37145
Report Code – CMR 20942
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