Home Care Chemicals Market Size, Share Report, Analysis, Trends, Growth 2030

Industry Perspective:

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.

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Home Care Chemicals Market: Overview

Care chemicals are homecare, personal care, industrial & institutional cleaning. Cosmetic goods, cosmetic pigments, personal care compounds, surfactants, and other care chemicals are used in the home and office for skin care, hair care, cleanliness, and hygiene. The study examines the major aspects that contribute to the growth of the home care chemicals industry. Furthermore, the market participants have been profiled, with a particular emphasis on their product offers. Home care chemicals eliminate dirt, stains, foul odors, dust, and other messes from surfaces. These compounds are often found in residential settings. Surfactants, additives, solvents, pigments, and others are examples of home care chemicals. Hand sanitizers, toilet & washroom cleansers, and deodorants are examples of these substances. The increase in cleanliness and health awareness is projected to drive the growth of the global home care chemicals market.

Furthermore, rising demand for surfactants, solvents, pigments, additives, and other chemicals will boost market expansion. The rise in middle-class per capita income is predicted to promote the expansion of the worldwide home care chemicals industry. Stringent government rules and regulations are the biggest impediments to the global home care chemicals market growth. Furthermore, the increased usage of eco-friendly products may hamper the growth of the global home care chemicals market.

Covid-19 Impact:

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.

Key Insights

• As per the analysis shared by our research analyst, the global home care chemicals market value is expected to grow at a CAGR of 6.70 % over the forecast period.
• In terms of revenue, the global home care chemicals market size was valued at around USD 21,984.70 million in 2021 and is projected to reach USD 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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Home Care Chemicals Market: Growth drivers

The market's growth is being fueled by rising demand for natural products.

Chemicals have permeated our civilization, and we are all affected by them. As a result, many individuals are flocking toward eco-friendly and natural items that are kind to the skin and the environment. Natural and green products are in great demand worldwide, and the need for green cleaning solutions has spurred the rise of the business. Growing environmental concerns are driving the increased demand for green and natural products. People are willing to pay more for natural and organic items to safeguard the environment, which has transformed the market substantially. It is also projected that the usage of harsh chemical products will diminish shortly, as people are ready to spend hours cleaning their homes and pay more for the correct product, which will drive the global home care chemicals market.

Home Care Chemicals Market: Restraints

Customer retention and product differentiation are limiting the market growth.

Product preferences vary by individual and are impacted by psychographic, demographic, and behavioral variables. Lifestyle norms and awareness have the greatest influence on consumer behavior. Consumer loyalty and product differentiation are challenging to sustain in today's household cleaning product industry. Consumers are regularly lured to novel things, making it difficult for them to remain loyal to a particular product or brand. Small and medium-sized firms find it more difficult to keep up with trends as consumer tastes shift. As a result, the home care chemicals market's expansion is hampered by these challenges.

Home Care Chemicals Market: Segmentation

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 are compounds widely employed as home care chemicals and will thus expand the quickest in the market from 2021 to 2028. Surfactants are utilized in many applications, including laundry, floor cleaning, and many more. These compounds can lower surface tension in water and control the molecules in the compound to interact with the oil and grease on the surfaces. When surfactants are added to cleaning chemicals, they enhance the mixability of the product and permit better cleaning.

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. Because home care chemicals or cleaning agents are widely employed in laundry or fabric care applications, this sector is likely to be the market's largest stakeholder. Cleaning agents for fabric application are available in liquid or powder forms to meet the user's needs and the appliances used to wash garments and fabrics. These cleaning chemicals contain powerful ingredients in their solutions that aid in the removal of different salts, dust, sugars, sweat, and urea from clothing and textiles. High surfactant ratios are employed in laundry or fabric detergents, which are the proper chemical ratios necessary for the cleaning action.

Recent Development:

• April 2021: Godrej Consumer Products Ltd. (GCPL) has introduced a new 2-in-1 liquid detergent in India under the Ezee brand. This item is suited for use with a washing machine and a bucket. GCPL aims to de-seasonalize its liquid detergent solutions and join the regular cloth detergent segment with the debut of this product.
• 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.

Global Home Care Chemicals Market: Report Scope:

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Home Care Chemicals Market: Regional Landscape

North America dominates the global home care chemicals market in 2021

The home care chemicals market in North America accounted for the largest share in 2021 and is expected to grow at a significant CAGR over the research period. Leading market participants such as The Lubrizol Corporation (US) and The Dow Chemical Company have contributed to the regional market expansion (U.S.). Due to growing product demand and rising hygiene & healthcare consciousness among consumers in emerging nations, particularly China and India, the Asia-Pacific region is expected to rise at the fastest CAGR over the research period.

North America and Europe have demonstrated a commanding position in the home care chemical business. The Asia Pacific area, on the other hand, is expected to expand the quickest in the market from 2021 to 2028. The majority of large-scale cleaning chemical producers are based in APAC. APAC nations have greatly improved their sanitation and hygiene regulations, encouraging consumers to use more domestic cleaning products. China and India, the world's two most populous countries, are particularly exposed to massive levels of healthcare problems. As a result, governments in these nations are continually promoting awareness and running campaigns about maintaining interior cleanliness & hygiene, reducing exposure to germs, bacteria, and viruses.

Home Care Chemicals Market: 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, and Unilever.

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