Global Market Study on Home Care Chemicals: Asia Pacific to Witness Highest Growth by 2020


  • Published On : May-2015 |
  • Pages : 112 Pages |
  • Format :

The global home care chemicals market report compiled by Persistence Market Research provides in-depth analysis for six year forecast period, 2014-2020. The primary objective of this report is to an extensive analysis on the market overview, types of products and its applications. It further highlights factors that are driving growth of the global market in parallel to factors inhibiting growth of the market, along with analysis on the basis of segmentation, and international players operating in the global home care chemicals market. Inclination towards maintenance of improved and healthy life style is projected to be a significant factor contributing to growth of the market.

The report begins with a general overview regarding application of home care chemicals among other home care products in the global home care chemicals market. The next section includes key dynamics, which comprise key application of home care chemicals in various aspects along with factors that are responsible for driving market growth in parallel to factors responsible in inhibiting market growth during the forecast period. Maintenance of health and hygiene is a significant factor estimated to rev up growth of the market over the forecast period.

The next section of the report throws light on various segmentation such as product type, end-user application and region. This section of the report comprise various factors impacting growth of the market on the basis of various segments and attributes. Furthermore, it analyses factors pertaining to specific regions, which are responsible for contributing towards growth of the market and factors that are responsible for restraining growth of the global home care chemicals market. The last section of the report comprises various international players operating in the global home care chemicals market and their objectives for the upcoming years regarding the global market.

Research Methodology

To deduce the global home care chemicals market size, the report considers various aspects based on secondary research. Furthermore, key data points such as region-wise split and market split by product type, and application; and qualitative inputs from primary respondents have been incorporated to arrive at appropriate market estimates. The forecast presented in the report assesses the total revenue generated and expected revenue contribution in the global home care chemicals market.

The report begins with sizing the market in terms of value and volume for the base year, which forms the basis for forecasting how the market is anticipated to take shape in the near future. Given the characteristics of the market, gathered data is triangulated via different analysis based on supply side and demand side drivers and other key dynamics of the global home care chemicals market. To develop the market forecast, Persistence Market Research has also conducted a factor analysis to understand the impact of various forces/factors on the target market. The report provides forecasts not only in terms of CAGR but also presents a detailed analysis based on key parameters such as Year-on-Year (Y-o-Y) growth to understand market predictability and to identify the right opportunities.

Another key feature of this report is an analysis of the home care chemicals market and the corresponding revenue forecast in terms of absolute dollar opportunity, usually overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective in the global home care chemicals market. Further, to understand key segments in terms of their growth and overall global home care chemicals market performance, Persistence Market Research has developed a market attractiveness index to help providers identify existing market opportunities in the global home care chemicals market.

Increasing inclination of masses towards health and hygiene have offered significant opportunities for the global home care chemicals markets, therefore fueling demand for home care chemicals products. Surfactants, pigments, solvents and various other additives and chemicals comprise various types of home care chemicals products, which find application in various home care chores, and institutional cleaning products. Rising purchasing power parity among middle class section further boosts demand for enhanced home care chemicals in the global market. Attributed to such factors, home care chemicals products have gained significant prominence in the home care industry. The global home care chemicals market is projected to expand at a CAGR of 4.6% over the forecast period.  In 2014, the market was valued at US$ 16.1 billion. The market is predicted to reach revenues worth US$ 21.1 billion by 2020-end.

Key Dynamics

Cleanliness is an imperative process of our daily routine, which has led to an increasing inclination of masses towards health and hygiene. Primarily, factors such as rising consumer preference towards home care chemicals for maintaining a healthy lifestyle, the global market is estimated to witness a significant growth. In addition, mass urbanization and improved and healthy lifestyles has further led to a boost in demand for the home care chemicals products in the global market. Application of range of home care chemicals products are found in various hospitals and clinics for dual purposes of cleanliness and as disinfectant. Such factors are estimated to contribute significantly towards growth of the market in the span of next six years. Increasing media penetration and literacy, in parallel to government initiatives towards application of advanced technologies in the home care industry is expected to support growth of the global market. Moreover, application of home care chemicals in floor, metal and polishing products are predicted to fuel growth of the market. Furthermore, domestic areas where process of food preparation is conducted daily, are required to be kept clean and hygienic as ignorance of such practices could adversely affect our health. Such factors are projected to fuel demand for home care chemicals, which in turn is predicted to rev up growth of the market in the coming years.

However, stringent government regulations and limitations on prices and input costs are anticipated to restrain demand for home care chemicals products, which in turn are projected to inhibit growth of the market. In addition, increase in application of eco-friendly formulations and green products is set to gain pace in the global home care chemicals market, which is estimated to pose challenges throughout the forecast period.

Segment Analysis

On the basis of product type, the global market for home care chemicals is segmented into solvents, pigments, surfactants and other additives and chemicals. Out of these, Surfactant segment is projected to dominate the global home care chemicals market, and accounted for 6.2% revenue market share in 2014. Surfactant segment registers a CAGR of 5.1% between 2015 and 2020. Solvent segment is the second largest product type in terms of revenue, and is predicted to exhibit a CAGR of 4.4% in the upcoming years.

On the basis of end-use application, the global home care chemicals market is segmented as hard surface cleaning, laundry/fabric care, dishwashing and various other end-use applications such as auto care, air car, and such others. Among all the segments, laundry/fabric care segment is projected to retain dominance in the global home care chemicals market with over 53% market share throughout the forecast period. However, the hard surface cleaning segment is expected to register a CAGR of 5.3% by 2020-end.

On the basis of region, Asia Pacific region is predicted to retain dominance in the global home care chemicals market in the upcoming years. Owing to rapid increase in population in Asia, the region is estimated to exhibit a CAGR of 7.3% by 2020-end. Whereas, Europe is predicted to contribute significantly towards the home care chemicals market and retain a quarter of the global home care chemicals market in terms of revenue. However, owing to poor living conditions and imposition of unfavorable policies by government in MEA region is anticipated to hinder growth of companies operating in the region, which in turn is projected to inhibit growth of the global home care chemicals market in the near future. While, Latin America is estimated to provide tremendous growth opportunities for the home care chemicals market and is projected to witness a CAGR equivalent to that of the global home care chemicals market.

Key Players

Major focus of key players operating in the global home care chemicals market is on mergers and acquisitions to gain prominence through geographic expansion. Some key players of the global home care chemicals market include Evonik Industries AG, BASF SE, The Dow Chemicals Company, Lubrizol Corporation, Clariant AG, Croda International Plc., Huntsman Corporation, Ashland Inc., and Akzo Nobel N.Z.

Key players in the global home care chemicals market include:

  • BASF SE.
  • Solvay S.A.
  • Clariant AG.
  • Evonik Industries.
  • Croda International Plc.
  • Ashland Inc.
  • The Dow Chemical Company.
  • Lubrizol Corporation.
  • Huntsman Corporation.
  • Akzo Nobel N.V.
  • Other.

 

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