Market Size in 2021 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 21,984 Million | USD 32441.95 Million | 6.7% | 2021 |
FrequentlyAsked Questions
The main reasons anticipated to propel the home care chemicals market during the forecast period are such as 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, particularly following COVID-19. In addition, the growing usage of green goods and eco-friendly formulations is expected to accelerate in the global home care chemicals market.
According to the report, the global home care chemicals market size was worth USD 21,984.70 million in 2021 and is estimated to grow to USD 32441.9581 million by 2028, with a compound annual growth rate (CAGR) of approximately 6.70 percent over the forecast period.
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 expansion of the regional market (U.S.). Due to growing product demand and rising hygiene and 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.
Some of the main competitors dominating the global home care chemicals market include - global home care chemicals market includes BASF SE, Ashland Inc., Solvay S.A., DOW, Evonik Industries AG, Clariant AG, Croda International, Lubrizol Corporation, Huntsman Corporation, Henkel Corporation, and Unilever.
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