Home Care Chemicals Market

Global Market Study on Home Care Chemicals: Surging Demand for Hygiene Products Amplifying Market Growth

Introduction

Increasing inclination of the masse towards health and hygiene has offered significant opportunities for the global home care chemicals market. Surfactants, pigments, solvents, and many other additives and chemicals comprise various types of home care chemicals products, which find application in various home care items and institutional cleaning products.

Rising purchasing power parity among the middleclass section further boosts the 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 5% over the forecast period of 2020 to 2030.

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Companies

  • BASF SE
  • Ashland Inc.
  • Solvay 
  • The Dow Chemicals
  • Evonik
  • Clarient
  • Croda International
  • Huntsman
  • Akzo Nobel
  • Lubrizol Corporation

Home Care Chemicals Market Drivers

Cleanliness is an imperative process of our daily routine, which has led to an increasing inclination toward health and hygiene. Primarily, rising consumer preference toward home care chemicals for maintaining a healthy lifestyle, the global market is estimated to witness significant growth over the coming years. In addition, mass urbanization and improved and healthy lifestyles have further led to increased demand for home care chemical products.

Application of a range of home care chemical products are found across hospitals and clinics for dual purposes of cleanliness and as disinfectants. Such factors are estimated to contribute significantly toward the growth of the home care chemicals market in the coming years.

Increasing media penetration and literacy, in parallel to government initiatives toward the application of advanced technologies in the home care industry is expected to support the growth of the global market. Moreover, application of home care chemicals in floor, metal, and polishing products is predicted to fuel the growth of the market.

Furthermore, domestic areas where the process of food preparation is conducted daily are required to be kept clean and hygiene, as ignorance of such practices could adversely affect our health. Such factors are projected to lead to the expansion of the home care chemicals market size over the coming years.

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Home Care Chemicals Market Restraints

Stringent government regulations and limitations on prices and input costs are anticipated to restrain the demand for home care chemicals products, which, in turn, are projected to inhibit the growth of the market. In addition, increase in the 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.

home care chemicals market

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Regional Outlook of Home Care Chemicals Market

On the basis of region, Europe and North America are predicted to be dominant regions in the home care chemicals market over the coming years, and together hold 45% of the global home care chemicals market share. Owing to rapid increase in population in Asia, the region is estimated to progress at a fact face over the next decade.

However, owing to poor living conditions and imposition of unfavorable policies by governments in the MEA region, the growth of the home care chemicals market in this region is sluggish. Latin America is estimated to provide tremendous growth opportunities for the home care chemicals market through 2030.

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COVID-19 Impact on Home Care Chemicals Market

The COVID-19 pandemic has hit the world hard, with most economies and sectors being adversely affected. However, to combat the spread of the virus, hygiene and cleanliness have gained utmost importance among the masses. As such the demand for home care chemical products has spiked across the world, thereby boosting the growth of the global home care chemicals market as we speak.

Analysts’ Viewpoint

Stakeholders in the global home care chemicals market can look to Europe and North America for large returns, as these regions hold a major share in the market space. Laundry, fabric, and hard surface cleaning will experience the most prominence in the home care chemicals market.

Key Segments of Home Care Chemicals Market

PMR’s study on the home care chemicals market is divided into three significant segments - product, application, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters related to these categories.

Product

  • Surfactants
  • Solvents
  • Pigments
  • Additives
  • Others

Application

  • Laundry/Fabric Care
  • Hard Surface Cleaning
  • Dishwashing
  • Others

Region

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • MEA

Key Questions Answered in PMR’s Home Care Chemicals Market Report

  • Which region is anticipated to hold a prominent market share over the forecast period?
  • What will be the key driving factors propelling the demand for home care chemicals during the forecast period?
  • How will current trends will impact the home care chemicals market?
  • Who are the significant market participants in the home care chemicals market?
  • What are the crucial strategies of prominent players in the home care chemicals market to upscale their positions in this landscape?

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