Detergent Chemicals Market Size to Worth Around US$ 97.2 Bn by 2030

According to Precedence Research, the detergent chemicals market size is expanding growth at a noteworthy CAGR of 8.8% from 2021 to 2030 and expected to be worth US$ 97.2 billion by 2030.

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New York, Oct. 12, 2021 (GLOBE NEWSWIRE) -- The global detergent chemicals market size was valued at US$ 51.3 billion in 2021. Detergents are the chemical substances that are used as a cleaning agent across various industry verticals such as automobiles, dishwashers, laundries and many others. The detergents are either produced naturally from the plant oils or artificially through petrochemicals such as Ethylene oxide, alpha-olefins, and linear alkyl benzene. To improve the effectiveness of detergents the major market players are developing new sustainable ingredients that will enhance the functional property of the detergents.

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Crucial factors accountable for market growth are:

  • Increasing demand for detergents chemicals across various industry verticals such as personal care, cosmetics, institutional, household and many others.
  • Rise in customer disposable income leading to the desire to maintain personal hygiene.
  • The development of environment friendly detergents that uses green cleaning products.
  • The demand for liquid detergents that effectively clean the stubborn strains.
  • Increase in demand for detergents in the hospitals.

Scope of the Detergent Chemicals Market Report

Report CoverageDetails
Market Size in 2021US$ 51.3 billion
Growth Rate from 2021 to 2030CAGR of 8.8%
Largest MarketNorth America
Fastest Growing MarketAsia Pacific
Base Year2021
Forecast Period2021 to 2030
Segments CoveredProduct Type, Application Type, Region Type

Regional Snapshots

North America is estimated to lead the detergent chemical market in 2021 contributing more than 27.42% of the market share. The rising detergent chemical consumption in the end use applications such personal care, industrial cleaners, and food processing is anticipated to drive the growth of detergent market in this region. Furthermore, the presence of major market players in the region continuously researching and developing innovative products will foster the growth of detergent chemical market in the North American region.

Europe is also estimated to contribute significantly towards the markets growth of detergent chemical market owing to the increasing demand for personal care and cosmetics products. Also, the presence of strict Government policies that favors the consumption of the detergent chemicals is expected to boost the growth of the chemical detergent market.

Asia Pacific region is estimated to be the fastest growing detergent chemical market during the forecast period owing to the rapid industrialization and urbanization in the developing economies such as India and China. Additionally, the growing demand for liquid detergents in the region will foster the growth of the detergent chemical market in the Asia Pacific region.

Market Dynamics

Driver

The rapid industrialization and urbanization across the globe is the key factor that is expected to drive the growth of the detergent chemical market. Furthermore, the increase in customer disposable income and the awareness of customers about their personal and household hygiene will contribute significantly in the growth of the detergent chemical market. Also, the rapid technological advancement done by the major market players in order to develop environment friendly detergents is anticipated to fuel the growth of the detergent chemical market.

Restraint

The major factor that is estimated to restrain the growth of the detergent chemical market includes the dangerous health hazard caused by the continuous exposure to detergent chemicals, discharge of untreated cleaning waste into the environment causes serious environmental effects and many others.

Opportunity

The continuous research activities carried on by the major market players to develop environment friendly detergent will find huge opportunities across the industry verticals. Moreover, in the developing economies the detergent chemical will have huge market growth opportunities.

Challenges

The adverse health effects caused by the continuous exposure to detergent chemical are a major challenge encountered by the detergent chemical market. Additionally, the discharge of cleaning wastes into the water bodies causes serious health ailments to the animals dependent on that water body.

Report Highlights

  • In the product segment of Detergent Chemicals Market, the surfactants dominate the market with a market share of more than 32% market share.
  • By application of the Detergent Chemicals, the laundry cleaning products are anticipated to lead the market with a share of more than 26% in 2021.
  • By Geography, North America leads the Detergent Chemicals Market by revenues share because of its rising detergent chemical consumption in the end use applications such personal care, industrial cleaners, and food processing.

Recent Developments

  • On 28th September 2021 Huntsman Corporation and KPX Chemical announced the establishment of a joint venture named KPX HUNTSMAN POLYURETHANES AUTOMOTIVE CO., LTD. (KHPUA). This venture will create and provide innovative polyurethane system solutions to Korean automakers from a specialty polyurethanes manufacturing facility at KPX Chemical's Ulsan plant.

  • On 19th November 2020 Shell chemical and Nexus Fuels LLC announced that they have entered into an agreement to scale up commercial production of chemicals from plastic waste.

The major market player includes International Detergent Chemicals Ltd., Huntsman Corporation, Tata Chemicals, Solvay S.A., Colgate, AkzoNobel, BASF SE, Dow Chemicals, Unilever, Procter & Gamble, Dial Corp, Clariant AG, Shell Chemicals, Airedale Chemicals, CondeaServo LLC and many others.

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