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At 4.2% CAGR, Detergent Chemicals Market Size is Expected to Reach USD 71.26 Billion to 2028 By Globally, says Fortune Business Insights
Detergent Chemicals Market
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.
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List of Key Players Profiled in the Report
BASF SE (Germany)
Clariant AG (Switzerland)
Ashland Inc. (USA)
Akzo Nobel N.V. (The Netherlands)
Croda International plc (UK)
DuPont (USA)
P&G (USA)
Stepan Company (USA)
Huntsman International LLC (USA)
Solvay (Belgium)
Novozymes (Denmark)
Other Key Players
What does the Report Provide?
The 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 market position, manufacturers are producing advanced and multi-featured 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 range 'Love & Care' brand. Such timely introduction of new products by key players are creating potential demand for all types of chemicals. Increasing consumption of such products, thus driving the detergent chemicals 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.
Market Segmentation:
By product type, this market is segmented into surfactants, builder & fillers, enzyme, fragrance, and others. On the basis of its application, it is divided into solid detergent, liquid detergent. By end-user, it is bifurcated into the household and industrial & institutional.
Based on product type, the builders & fillers segment held the highest share of 39.2% in 2020. This is attributable to their increased use in detergent formulation. Chemicals such as sodium silicate, sodium metasilicate, polycarboxylates, sodium carbonate, zeolite as act as builders & fillers and enhance the cleaning properties.
Finally, based on region, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Competitive Landscape
Key Players to Focus on Collaborations to Strengthen Market Growth
The market is consolidated by major companies striving to maintain their position by focusing on new launches. For instance, in December 2019, 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.
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 detergent chemicals market share during the forecast period owing to the increased per capita consumption. According to estimates in the U.S., per capita consumption is 10 kgs, which is higher than the global average.
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Detergent Chemicals Market Detailed Table of Content:
Introduction
Research Scope
Market Segmentation
Research Methodology
Definitions and Assumptions
Executive Summary
Market Dynamics
Market Drivers
Market Restraints
Market Opportunities
Key Insights
Key Market Trends
Latest Technological Advancements
Key Industry Developments
Insights on Regulatory Scenario
PORTER's Five Forces Analysis
Covid-19 Impact Analysis
Supply Chain Challenges
Steps taken by companies to overcome the impact
Opportunities due to COVID-19 outbreak
TOC Continued…!
Key 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 the manufacturers.
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