[Latest] Global Home Care Chemicals Market Size/Share Worth USD 32441.95 Million by 2028 at a 6.70% CAGR: Zion Market Research (Industrial Trends, Report, Analysis, Players, Outlook, Forecast, Growth, Value, Segmentation)

NEW YORK, United States, May 15, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled "Home Care Chemicals Market By Product (Surfactants, Solvents, Additives, Others), By Application (Home Care Chemicals For Laundry Care, Home Care Chemicals For Hard Surface Cleaning, Home Care Chemicals For Dishwashing, Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2028" in its research database.

"According to the latest research study, the demand of global Home Care Chemicals Market size & share in terms of revenue was valued at USD 21,984 million in 2021 and it is expected to surpass around USD 32441.95 million mark by 2028, growing at a compound annual growth rate (CAGR) of approximately 6.70% during the forecast period 2022 to 2028."

The report analyzes the home care chemicals market's drivers, restraints/challenges, and their effect on the demands during the projection period. In addition, the report explores emerging opportunities in the home care chemicals market.

What are Home Care Chemicals? How big is the Home Care Chemicals Industry?

Report Overview:

Homecare, personal care, industrial, and institutional cleaning all use care chemicals. For skin care, hair care, cleanliness, and hygiene, personal care products, personal care compounds, surfactants, and other care chemicals are used in the home and workplace. The study looks at the key factors influencing the home care chemicals market's expansion. Additionally, the market players have been profiled with a focus on their product offerings. Chemicals used in home care products clean surfaces of filth, stains, bad odours, dust, and other problems. These chemicals are frequently discovered in residential areas.

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Home care chemicals include surfactants, additives, solvents, pigments, and others. These products include deodorants, toilet & bathroom cleaners and hand sanitizers. The rise in cleanliness and health consciousness is anticipated to fuel the expansion of the global market for home care chemicals. The need for surfactants, solvents, pigments, additives, and other chemicals is also expected to increase, which will fuel market growth. It is anticipated that the increase in middle-class per capita income will encourage the growth of the global home care chemicals market.

The most significant barriers to the expansion of the global market for home care chemicals are strict government laws and regulations. The growth of the global market for home care chemicals may also be hampered by the rising popularity of eco-friendly products.

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• Zion Market Research Methodology

Global Home Care Chemicals Market Dynamics:

Growth Factors:

• The growing demand for natural products is driving the market growth

We are all impacted by the chemicals that have penetrated our culture. As a result, a lot of people are turning to natural and eco-friendly products that are good for their skin and the environment. The necessity for green cleaning products has fueled the growth of the industry. Natural and green products are in high demand globally. The demand for green and natural products is rising as a result of growing environmental concerns. To protect the environment, consumers are willing to pay extra for natural and organic goods, which has significantly changed the industry. As individuals are willing to spend hours cleaning their homes and pay more for the right product, which will boost the global home care chemicals industry, it is also predicted that the use of harsh chemical products would soon decline.

Restraints:

• Customer retention and product differentiation are limiting the market growth

Individual differences in product choices are influenced by psychographic, demographic, and behavioural factors. The biggest influences on customer behaviour are societal standards and awareness. In the market for household cleaning products today, it is difficult to maintain customer loyalty and product differentiation. Customers are frequently drawn to new things, which makes it challenging for them to stick with a specific brand or product. Small and medium-sized businesses struggle more to stay on top of trends as consumer tastes change. These obstacles therefore prevent the market for home care chemicals from growing.

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Report Scope:

Home Care Chemicals Market: COVID-19 Impact Analysis

The COVID-19 epidemic substantially influenced global materials supply networks, international trade, and manufacturing activities. The output of home care chemicals decreased during the COVID-19 pandemic because market participants were forced to close manufacturing facilities or run them at less-than-ideal capacity to prevent the spread of the coronavirus.

Home Care Chemicals Market: Segmentation Analysis

The global home care chemicals market is segregated based on product, application, and region. The market is segmented based on products: surfactants, solvents, additives, and others. Surfactants dominated the market in 2021. Based on application, the market is classified into home care chemicals for laundry care, home care chemicals for hard surface cleaning, home care chemicals for dishwashing, and others. Home care chemicals for laundry care segment dominated the market in 2021.

The global home care chemicals market is segmented as follows:

By Product

• Surfactants
• Solvents
• Additives
• Others

By Application

• Home Care Chemicals for Laundry Care
• Home Care Chemicals for Hard Surface Cleaning
• Home Care Chemicals for Dishwashing
• Others

Browse this Full Research Report | Home Care Chemicals Market By Product (Surfactants, Solvents, Additives, Others), By Application (Home Care Chemicals For Laundry Care, Home Care Chemicals For Hard Surface Cleaning, Home Care Chemicals For Dishwashing, Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2028

Competitive Landscape:

Some of the main competitors dominating the global home care chemicals market include - 

• BASF SE
• Ashland Inc.
• Solvay S.A.
• DOW
• Evonik Industries AG
• Clariant AG
• Croda International
• Lubrizol Corporation
• Huntsman Corporation
• Henkel Corporation
• Unilever

 Key Insights from Primary Research:

• According to the analysis shared by our research forecaster, the Home Care Chemicals market is likely to expand at a CAGR of around 6.70% during the forecast period (2022-2028).
• In terms of revenue, the Home Care Chemicals market size was valued at around US$ 21,984 million in 2021 and is projected to reach US$ 32441.95 million by 2028.
• The main reasons anticipated to propel the home care chemicals market during the forecast period are widespread urbanization, quickly rising population, the development of novel goods and services, rising demand for home care items in the institutional and food service sectors, and increased health and hygiene awareness.
• By product, the surfactants category dominated the market in 2021.
• By application, the home care chemicals for laundry care category dominated the market in 2021.
• North America dominated the global home care chemicals market in 2021.

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Key questions answered in this report:

• What is the market size and growth rate forecast for Home Care Chemicals industry?
• What are the main driving factors propelling the Home Care Chemicals Market forward?
• What are the leading companies in the Home Care Chemicals Industry?
• What segments does the Home Care Chemicals Market cover?
• How can I receive a free copy of the Home Care Chemicals Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2022−2028
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By Product Type, By Application, And By Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

The global home care chemicals market is divided into geographic regions: North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America's home care chemicals market accounted for the highest share in 2021 and is predicted to increase at a considerable CAGR during the research period. Leading market players such as The Lubrizol Corporation (U.S.) and The Dow Chemical Company have contributed to the regional market's growth (U.S.). The Asia-Pacific region is predicted to expand at the quickest CAGR during the study period, owing to increased product demand and rising hygiene & healthcare consciousness among consumers in emerging nations, notably China and India.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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Recent Developments:

• January 2022: Henkel Corporation intended to merge its beauty care division with its laundry and home care division. The firm intends to build new consumer brands by combining new platforms.
• December 2021: Unilever has introduced a new dishwashing detergent made entirely of organically sourced substances. The product is more renewable, biodegradable, and comes in bottles composed of 1008 recyclable plastics. The company aims to minimize carbon footprints and reliance on fossil-based components.

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