Global Home Care Chemicals Market is Likely to Grow at a CAGR Value of 6.70% By 2028

19-Aug-2022 | Zion Market Research

The global home care chemicals market size was worth USD 21,984 million in 2021 and is estimated to grow to USD 32441.95 million by 2028, with a compound annual growth rate (CAGR) of approximately 6.70 percent over the forecast period. 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.

Home care is something that every household regularly does as part of their daily routine. The entire world is more concerned with cleanliness and hygiene, especially after the addition of COVID-19. Many governments have developed policies and missions to urge individuals to keep their surroundings clean to reduce the transmission of illnesses or viruses. Home care includes floor cleaning, dusting, clothing washing, kitchen care, and many more. It has also been shown that cleaning cloths for cloths and utensils, as well as washrooms, toilets, bathtubs, and sinks, provide a significant danger of disease transmission. Walls and furnishings have the least danger of disease transmission. Using these household chemicals daily reduces the danger of being exposed to germs and viruses. These compounds that incorporate antibacterial agents into their solutions aim to eliminate unwanted germs. According to surveys, around 45 percent of individuals are sensitive to dust and have asthma. These factors encourage consumers to use home care chemicals regularly to maintain cleanliness and hygiene.

According to studies conducted in several nations, there is a 31% probability of catching infections from within the house owing to a lack of cleanliness, improperly groomed domestic pets, and a lack of hygiene while making meals or handling kitchen items. Various nations' governments have spent a large amount of money on healthcare, which is one of the primary drivers of the global home care chemicals market growth. The global home care chemicals industry is expected to have significant development possibilities due to increased disposable income among the world's main population. Aside from that, the market is expected to grow significantly due to the rising use of cleaning and hygiene products in various businesses and workplaces.

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 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.

Key players in 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, and Unilever.

Recent Development:

  • 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.

Browse the full 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. Report at https://www.zionmarketresearch.com/report/home-care-chemicals-market

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

By Region

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

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