The global detergent chemicals market size is expected to gain momentum by reaching USD 71.26 billion by 2028 from USD 53.53 billion in 2021 while exhibiting a CAGR of 4.2% between 2021 to 2028. In its report titled, “Detergent Chemicals Market, 2021-2028,” Fortune Business Insights™ mentions that the market stood at USD 50.14 billion in 2020.
Detergent comprises different types, such as surfactants, enzymes, fragrances, bleaches, dyes, and others. Each of them is designed to have different functional properties. The demand for detergent chemicals has surged due to increased pollution levels and the rising prevalence of diseases. Furthermore, adoption and inclination toward sustainable and bi-cleaning are expected to drive market growth. For instance, in March 2021, BASF partnered with the Japan-based Allied Carbon Solutions Co., Ltd. and the UK-based Holiferm Ltd. to develop biosurfactants. These surfactants will be used to formulate home care & personal care products.
List of Key Players Profiled in Detergent
Chemicals Industry Report
- BASF SE (Germany)
- Clariant AG (Switzerland)
- Ashland Inc. (U.S.)
- Evonik Industries AG (Germany)
- Akzo Nobel N.V. (The Netherlands)
- Croda International plc (U.K.)
- DuPont (U.S.)
- P&G (U.S.)
- Stepan Company (U.S.)
- Huntsman International LLC (U.S.)
- Solvay (Belgium)
- Novozymes (Denmark)
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What
does the Report Provide?
The market for detergent chemicals
report provides a detailed analysis of several factors, such as the key drivers
and restraints that will impact growth. Additionally, the report provides
insights into the regional analysis that covers different regions, contributing
to the growth of the market. It includes the competitive landscape that
involves the leading companies and the adoption of strategies to introduce new
products, announce partnerships, and collaborate to contribute to the market
growth.
Drivers & Restraints
Introduction of Multi-featured Detergents
to Boost Market Growth
To garner the detergent
chemicals market position,
manufacturers are producing advanced and multi-featured detergent products. For
instance, in 2021, Godrej Consumer Products Limited (GCPL) enlarged its laundry
detergent products in India. Following it, P&G too launched a new line of
plant-based laundry care products and launched a new 3in1 POD’s under the Aerial
brand in the year 2019. Infamous HUL also launched its premium detergent range
‘Love & Care’ brand. Such timely introduction of new products by key
players are creating potential demand for all types of detergent chemicals. Increasing
detergent consumption, thus driving the chemical detergent market growth.
On the other hand, prolonged and excessive use of detergent lowers the
surface tension of water, which leads to easy absorption of harmful organic
chemicals by the aquatic animal. Such factors are limiting the growth of the
market for detergent chemicals.
Read
a Detailed Summary of This Report: https://www.fortunebusinessinsights.com/detergent-chemicals-market-105804
COVID-19 Impact
Amid the COVID-19 pandemic, the demand for cleaning products had increased.
Thus, there has been a steep increase in
the consumption of detergents, especially in households. Moreover, the report
suggests that in 2020, detergents were high in demand along with disinfectants
in essential services & industries, such as government offices, food,
pharmaceuticals. Furthermore, our internal data analysis estimates that the
demand for household detergents increased more than 16% in 2020 as compared to
2019. Thus, to meet the consumer demand, key players such as P&G, Unilever
Group increased their production capacities. These factors are expected to
drive market growth during the forecast period. All these factors collectively
pushed the demand for detergent chemicals.
Regional Insights
Asia Pacific to Dominate Backed by Increasing
Industrialization
Asia Pacific is
expected to remain at the forefront and hold the highest position market during
the forecast period owing to the Increasing industrialization, commercialization, & household
expenditure in the region are pushing demand for innovative & sustainable
detergents. The region stood at USD 23.68 billion. Moreover, China’s
market share for the household segment was 77.6% in 2020.
North America is expected to showcase significant chemical detergent
market share during the forecast period owing to the increased per capita
detergent consumption. According to estimates in the U.S., per capita
consumption is 10 kgs, which is higher than the global average.
Competitive Landscape
Key Players to Focus on Collaborations to
Strengthen Market Growth
The detergent chemicals market is consolidated by major companies striving to maintain their position by focusing on new launches. For instance, in December 2019, Evonik Industries & Unilever Group collaborated together to launch bio-based surfactants Rhamnolipid. It is mild on the skin and is biodegradable and renewable. It is used first time in Unilever’s Quix home cleaning brand.
Industry Development
·
November 2020: Firmenich announced the launch of its Artificial Intelligence (AI) based
fragranced for liquid & powder laundry detergents. The usage of AI will
help in the creation, optimization & prediction of sensorial experiences to
identify the best fragrance solutions for detergent manufacturers.
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