Home Care Chemicals Market

Global Market Study on Home Care Chemicals: Laundry Care to Drive Most Demand Over Next 10 Years (2023-2033)

Home Care Chemicals Market Analysis and Review by Product Type (Surfactants, Solvents, Additives & Others)

Report ID: PMRREP4528

Number of Pages: 217

Format: PPT*, PDF, EXCEL

Industry: Chemicals and Materials

Published Date: December-2022

Report Price

$4900*

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Market Snapshot

Newly released data on the Home Care Chemicals market shows that global sales are expected to reach around US$ 21,857.4 Mn by the end of 2023. The demand for Home Care Chemicals is projected to register a growth rate of about 4.7% during the forecast period of 2023 to 2033.

Home Care Chemicals Market Value (2022A)

US$ 20,815.4 Mn

Home Care Chemicals Market Estimation (2023E)

US$ 21,857.4 Mn

Home Care Chemicals Market Forecast (2033F)

US$ 34,599.1 Mn

Value CAGR (2023-2033)

4.7%

Collective Value Share: Top 3 Countries (2022A)

25.2%

According to Persistence Market Research, global Home Care Chemicals consumption is expected to reach US$ 34,599.1 Mn by the end of 2033. North America & Europe both collectively are both expected to hold more than 35% share for the year 2022.

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Consumption Analysis of Home Care Chemicals from 2017 to 2022 Vs Market Outlook for 2023 to 2033

Home Care Chemicals are a class of chemicals that are used in the formulation of domestic surface cleaning, laundry care, dishwashing, and other related products, which are further used to keep the interior of a home or a residential building in good hygienic condition. The market has witnessed a growth rate of about 4.5% between 2017 and 2022.

The launch of novel products and services, rapid population growth, widespread urbanization, rising institutional and food service demand for home care products, and rising public awareness of health and hygiene, particularly in the wake of COVID-19, are all factors that are driving the global market for home care chemicals.

Every household has a fundamental daily routine that includes taking care of their homes. Particularly after the spread of COVID-19, the entire world is strongly inclining toward maintaining cleanliness and hygiene. To prevent the spread of infections or viruses, several countries have developed missions and policies to motivate citizens to keep their surroundings clean. This is helping the home care chemicals market to grow at a more rapid pace.

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Growing Awareness among the Consumer Regarding the Health & Hygiene Is Expected To Boost the Demand for Home Care Chemicals

The increasing inclination of the masses towards health and hygiene, especially in developing countries of Asia-Pacific and North America, is expected to create substantial opportunities for home care products, thus driving the demand for home care chemicals. Growing awareness among consumers about infectious diseases caused by pathogens such as bacteria and viruses is expected to drive the demand for home cleaning chemicals during the forecast period

The growing relevance of healthier lives, combined with rising individual concerns about health and hygiene, has resulted in increased per capita spending on home care items.

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Growth Potential Available For the Market Participant in the Global Market:

Use of Green Ingredients for the Formulations of the Home Care Chemicals in Rise

Manufacturing formulations that are safe to dispose of while still being environmentally friendly offers manufacturers of home care chemicals substantial growth potential. Acetic acid, citrus oils, ethanol, propylene glycol ethers, plant extracts, and coconut-based surfactants are a few of the environmentally friendly components employed. Existing environmental regulations in developed countries on the use of eco-friendly ingredients in home care product formulation are likely to be adopted by developing countries, thus keeping this trend moving in the same direction.

The demand and consumption of non-hazardous and bio-based chemical-based home care products are also rising as a result of consumers' growing awareness of environmental issues and their concern over health risks. As a result, manufacturers are putting more money into the research and development of eco-friendly chemicals used in a variety of product applications, including detergents, soaps, air fresheners, and polishes.

Untapped Rural Markets Should Be Targeted For Better Opportunities

There is a huge market opportunity for home care chemical providers in untapped rural markets. The rural markets have huge potential. In order to target the rural markets, home care chemical providers are majorly focusing on lowering the prices of chemicals, thereby reducing the price of home care products. Increased awareness in terms of hygiene and health can be observed in rural areas and is an untapped market for the growth of the home care chemical market. It is expected to rise in demand in the forecast period owing to the increased purchasing power of the consumers.

What Are The Factors That Can Impact The Growth Of The Market?

Common household products like detergents, cleansers, and dishwashing liquids contain phosphate and ammonia compounds, which can affect aquatic life, living things, and individuals as well. The use of dangerous chemicals in household cleaning products has been subject to laws during the last few years from the European Union and government agencies from other countries, including Canada, Australia, and the United States. Regulations that restrict the concentration of substances used in the formulation of home care products, in turn, are somewhat impeding market expansion.

Phosphorus concentration in household cleaning products is restricted to 0.5% under a U.S. law on phosphate restriction. Phosphates in consumer dishwashers and laundry detergents have been outlawed, according to the European Commission.

Country-wise Analysis

What is the Consumption Outlook of Home Care Chemicals in the U.S.?

The United States is expected to remain one of the most important and influential markets for the production and consumption of Home Care Chemicals. A significant presence of key manufacturers in the country is likely to contribute to the expansion of the US market, as well as assist the US in becoming an important import center in North America. The Home Care Chemicals market in the United States is expected to account for approximately 16% of the total market share.

North America controls a sizable chunk of the industry. Many manufacturers, on the other hand, are investing in research and development to create innovative and environmentally friendly household cleaning solutions to reduce their environmental footprints. With the growing awareness in the consumer base after the Covid-19 pandemic, the market is expected to witness high growth during the projected period.

Why Does China Account for a significant share of the Home Care Chemicals market?

The Chinese Home Care Chemicals market is expected to grow by 5.9% during the forecast period. China is expected to remain a manufacturing hub due to the existence of various raw material manufacturers, government initiatives for the chemical sector, easy supply of labor, and other factors. China also has a large consumer base. The country's market is predicted to rise significantly as a result of increased demand from application areas.

As the world's most populous country, China is especially prone to huge levels of healthcare problems. As a result, governments are continually spreading awareness and launching campaigns about maintaining interior cleanliness and hygiene, thereby reducing exposure to germs, bacteria, and viruses. Hence, this is expected to boost the demand for home care chemicals.

Category-wise Insights

What Is The Growth Outlook Of Surfactant Product Type During The Projected Period?

Surfactants are anticipated to remain one of the prominent products in the home care chemicals industry, accounting for more than 57% of the market. Dust particles can be removed from surfaces, clothing, and other items with surfactants. Surfactants are utilized extensively in the production of solutions for cleaning hard surfaces, as well as products for dishwashing and laundry care.

The growing demand for surfactants from different end-use industries is expected to bolster the demand for home care chemicals during the forecast period.

Which Application is expected to gain traction in the forecast period in the Home Care Chemicals market?

The home care chemicals market's application segments include dishwashing, hard surface cleaning, laundry care, and others. Due to the widespread usage of home care chemicals or cleaning agents in laundry care applications, this market segment is expected to have the greatest share. Home care chemicals are highly important in laundry care since these clothing come into direct contact with the human body. Dirt or bacteria in clothing can cause infections, which can be prevented by using cleaning chemicals on a regular basis.

In 2022, the laundry care application accounted for about 50% of the total demand for chemicals used in home care. Due to the growing need for fabric cleaning and growing awareness of the need for hygiene for better health, it is projected that the global demand for laundry services will increase significantly. More clothing is worn as a result of the increasing population, which raises the demand for home care chemicals used in laundry facilities. In addition, the growing need to wash staff and patient clothes at hospitals and clinics will support market expansion in the years to come.

Competitive Landscape

Key manufacturing companies such as BASF SE, Solvay S.A., & others are present in the market. These key players are holding a significant share of the market, also there are other small-scale players are present in the market to maintain a strong competitive environment. Key market participants are focusing on the introduction of green cleaning chemicals or eco-friendly formulations.

Several significant market participants have prioritized product development, the launch of new and innovative goods, and the expansion of manufacturing capacity through the establishment of new production units in emerging economies. They are also active in collaborations, partnerships & acquisitions activities.

For Instance:

  • In 2021, BASF SE collaborated with Holiferm Ltd. of the U.K. and Allied Carbon Solutions Co., Ltd. of Japan to develop a production process for bio surfactant products.
  • In April 2021, BASF SE announced an expansion of its product portfolio for cleaners and detergents, and industrial formulators. This expansion will help the company expand its product portfolio associated with a low-carbon footprint and will benefit the company for sustainable development.
  • In December 2021, Unilever launched a new dishwashing liquid with 100% naturally derived ingredients. The product is more renewable, 99% biodegradable, and launched in bottles made with 100 % recyclable plastics.

Home Care Chemicals Industry Report Scope

Attribute

Details

Forecast Period

2023-2033

Historical Data Available for

2017-2022

Market Analysis

  • US$ Mn for Value
  • Tons for volume

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa

Key Countries Covered

  • U.S.
  • Canada
  • Brazil
  • Mexico
  • Germany
  • Austria
  • Switzerland
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • BENELUX
  • China
  • Japan
  • South Korea
  • India
  • ASEAN
  • Australia
  • New Zealand
  • GCC Countries
  • Turkey
  • Northern Africa
  • South Africa

Key Market Segments Covered

  • Product Type
  • Application
  • Region

Key Companies Profiled

  • BASF SE
  • Ashland Inc.
  • Solvay S.A.
  • Evonik Industries AG
  • Clariant AG
  • Croda International
  • Lubrizol Corporation
  • Huntsman Corporation
  • The Dow Chemicals Company
  • SWISSOL CHEMICALS (I) PVT.LTD.
  • Elixir Home Care Pvt. Ltd.
  • LAKURA Chemical Company
  • Wilson Chemical
  • Dimachem
  • Henkel Corporation
  • Unilever plc

Pricing

Available upon Request

Key Segments Covered in Home Care Chemicals Market Research

By Product Type

  • Surfactants
  • Solvents
  • Additives
  • Others

By Application

  • Hard Surface Cleaning
  • Dishwashing
  • Laundry Care
  • Others

By Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa

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Companies Covered in This Report

  • BASF SE
  • Ashland Inc.
  • Solvay S.A.
  • Evonik Industries AG
  • Henkel Corporation
  • Unilever plc
  • Clariant AG
  • Croda International
  • Lubrizol Corporation
  • Huntsman Corporation
  • The Dow Chemicals Company
  • SWISSOL CHEMICALS (I) PVT.LTD.
  • Elixir Home Care Pvt. Ltd.
  • LAKURA Chemical Company
  • Wilson Chemical
  • Dimachem

Frequently Asked Questions

The global Home Care Chemicals market is estimated to be valued at over US$ 20,815.4 Mn as of 2022.

Growing awareness regarding health & hygiene & growing end-use industries are expected to drive market growth.

Consumption of Home Care Chemicals is projected to increase at a 4.7% CAGR between 2023 and 2033.

The market in India is set to expand at a 6.2% CAGR during the coming forecasted period.

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