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Usage of Microbial Biosurfactants in Enhanced Oil Recovery to Push Sales Past US$ 24.3 Mn by 2032
Fact.MR's in-depth analysis on the global microbial biosurfactants market provides readers with a 360-degree view for the forecast period of 2022 to 2032. The report further highlights crucial information about latest trends, opportunities, restraints, and drivers across segments including product type, applications, and regions
NEW YORK, May 25, 2022 /PRNewswire/ -- The global microbial biosurfactants market size is anticipated to exceed US$ 16.5 Mn in 2022, exhibiting growth at a CAGR of 3.9% during the forecast period (2022 to 2032).
As per the report, sales in the microbial biosurfactants market are expected to reach a valuation of US$ 24.3 Mn in 2032, going up from US$ 16.1 Mn in 2021. Rising demand for cost-effective, yet robust microbial biosurfactants is likely to create opportunities for key players in the market.
Increasing usage of microbial biosurfactants in pharmaceutical, oilfield chemicals, and detergent manufacturing is set to drive the market. The implementation of stringent norms by government bodies to ban the usage of toxic chemicals for reducing environmental pollution will augment demand in the market.
Besides, growing usage of microbial biosurfactants in the agriculture sector to manufacture agricultural chemicals and maintain a better soil quality is expected to spur growth. The ever-increasing population and ongoing urbanization are projected to push the need for more crops worldwide.
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As per the India Brand Equity Foundation (IBEF), food grain production in India reached a record of 296.65 million tons during the 2019-20 crop year. The government of India has already set a target to increase the total production output by 3.9% during FY 2021-22. On account of this, the requirement of microbial biosurfactants for improving soil quality is expected to increase in the forthcoming years.
Apart from that, increasing utilization of microbial biosurfactants, such as rhamnolipids in cosmetics and personal care products is anticipated to propel growth. Rhamnolipids are capable of preventing wrinkles, curing burn marks, and healing skin diseases. Their relatively low cost is making them a preferred option among manufacturers.
The ingredient is also used as a natural emulsifier and surface-active agent in shampoos, laundry products, and soaps. High demand for novel products with dual degree effects, such as dandruff cleaning and hair smoothing shampoos is likely to augur well for the market.
Key Takeaways:
- The U.S. microbial biosurfactants market is likely to record a CAGR of 4.7% in 2032 and hold nearly 28.4% share in 2022.
- China is projected to generate the second-largest market share of 12.1% in 2022 and register a considerable CAGR of 4.3% by 2032.
- By product type, the mannosylerythritol segment is set to hold 28.6% of the total market share in the forthcoming years.
- Based on application, sales in the industrial and institutional cleaners segment are expected to grow at a 4.4% CAGR over the forecast period.
- The overall valuation of the personal care segment was US$ 564.4 Bn in 2020 and it is estimated to grow at a CAGR of 4.7% in 2032.
Growth Drivers:
- Increasing usage of microbial biosurfactants in Enhanced Oil Recovery (EOR) for improving the recovery of petroleum from oil wells is likely to drive growth.
- Rising inclination of consumers from chemical-based synthetic products to organic or bio-based cleaning products is anticipated to propel growth.
Restraints:
- Each organism creates a blend of congener molecules with various characteristics, which makes the downstream process expensive and difficult.
- Industries in emerging economies are yet to see an added value in converting bio-based products as one-to-one replacement of traditional products is uncommon.
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Competitive Landscape:
Leading players operating in the global microbial biosurfactants market are focusing on signing new contracts and collaborating with other companies worldwide to co-develop novel products and distribute them in the market to gain a competitive edge. Meanwhile, some of the other key players are investing huge sums in research and development activities to discover new ingredients for fulfilling the high demand.
For instance,
- In March 2022 , Unilever, multinational consumer goods company based in the U.K., launched its latest Positive Beauty Growth Platform to bring together academic institutes, start-ups, and scaleups present in the field of cosmetic ingredients, packaging, and formulations. The company aims to work in collaboration with academia, partners, and suppliers to find new solutions that can replace non-biodegradable beauty packaging, formulations, and products.
- In March 2021 , BASF, a renowned chemical and biotech company headquartered in Germany, signed a new biosurfactant agreement with Holiferm and Allied Carbon Solutions (ACS). Under the agreement, Holiferm will help manufacture and develop fermentation-derived ingredients with potential use in personal care products and industrial formulators. In partnership with ACS, the company will develop a unique sophorolipid-based ingredient named BioToLife.
Key Companies Profiled by Fact.MR
- AGAE Technology
- Jeneil Biosurfactant
- Saraya Co., Ltd.
- AkzoNobel
- BASF
- Ecover
- Evonik
- Innospec
More Valuable Insights on Microbial Biosurfactants Market
In the latest study, Fact.MR offers a comprehensive analysis of the global microbial biosurfactants market for the forecast period of 2022 to 2032. The report also provides key factors such as recent developments and growth drivers influencing the sales in microbial biosurfactants market through detailed segmentation as follows:
By Product Type:
- Rhamnolipids
- Sophorolipids
- Mannosylerythritol
- Other Product Types
By Application:
- Household Detergents
- Industrial & Institutional Cleaners
- Personal Care
- Oilfield Chemicals
- Agricultural Chemicals
- Other Applications
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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Key Questions Covered in the Microbial Biosurfactants Market Report
- What will be the demand outlook of microbial biosurfactants market in 2022?
- What will be the growth rate of the global microbial biosurfactants market during 2022-2032?
- Which are key drivers bolstering the growth in microbial biosurfactants market?
- Which are the factors hindering the growth in the microbial biosurfactants market?
- Which region is expected to exhibit the fastest growth in the global microbial biosurfactants market during 2022-2032?
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