Press release
Soap and Cleaning Compounds Market Size, Growth Trends And Forecast Upto 2024-2033
Soap And Cleaning Compounds Market
The soap and cleaning compounds market has demonstrated robust growth, surging from $190.89 billion in 2023 to an estimated $207.75 billion in 2024, marking a notable compound annual growth rate (CAGR) of 8.8%. This growth momentum is expected to persist, with projections indicating a further ascent to $290.33 billion by 2028, maintaining a strong CAGR of 8.7%.
Automotive Industry Catalyst:
The expansion of the automotive industry is anticipated to be a key driver propelling the growth of the soap and cleaning products market. Within the automotive sector, cleaning compounds and soaps play a pivotal role in various functions, including vehicle care, manufacturing processes, and overall hygiene. Notably, the European Automobile Manufacturers' Association reports a 5.5% increase in the sales of passenger cars in the US, reaching 11.9 million units in 2021. Additionally, the production of passenger cars in the US witnessed a 3.1% surge in 2021, totaling around 6.3 million units. This growth in the automotive industry is a significant contributor to the expansion of the soap and cleaning products market.
Explore the Global Soap And Cleaning Compounds Market with a Detailed Sample Report:
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Key Market Players:
Major companies operating in the soap and cleaning compounds market include Procter & Gamble, Unilever PLC, SC Johnson & Son Inc., Henkel AG & Co KGaA, Ecolab Inc., BASF SE, Colgate-palmolive co, Kao Corporation, Reckitt Benckiser Group PLC, The Clorox Co., Method Products PBC, Ecover, Mrs. Meyer's Clean Day, Dr. Bronner's, L'Occitane International S.A., Crabtree & Evelyn, The Body Shop International Limited, Bath & Body Works LLC, Lush Cosmetics, Natura & Co Holding S.A., Avon Products Inc., Beiersdorf AG, Shiseido Company Limited, L'Oreal S.A., Estee Lauder Companies Inc., JohnsonDiversey Inc., Diversey Inc., Betco Corporation, ZEP Inc., Spartan Chemical Company Inc.
Transition from Harmful Agents:
A notable trend in the soap industry is the shift from harmful agents like triclosan and triclocarban to safer alternatives. Companies are replacing these harmful chemicals with safer alternatives such as benzalkonium chloride, benzethonium chloride, or chloroxylenol (PCMX). Triclosan and triclocarban, previously used as antimicrobial ingredients in personal care products, have raised health and environmental concerns. Leading consumer product companies like P&G and Unilever have ceased using these agents and are adopting safer alternatives.
Technological Innovations:
Major companies in the soap and cleaning products market are introducing technological innovations to gain a competitive edge. For instance, Nouryon, a Netherlands-based manufacturer, launched Triameen Y12D, an antimicrobial active for advanced disinfection in the US cleaning market. This innovative solution stands out due to its use of non-quaternary ammonium technology, devoid of aldehydes and halogens, and does not induce sensitization.
Regional Dynamics and Market Segmentation:
Asia-Pacific dominates the soap and cleaning compounds market in 2023, with Western Europe securing the second-largest position.
The soap and cleaning compounds market covered in this report is segmented -
1) By Type: Soap and Other Detergents, Surface Active Agents, Polish and Other Sanitation Goods
2) By Application: Household, Commercial
3) By Distribution Channel: Hypermarkets/Supermarkets, E-Commerce, Pharmacy Stores, Other Distribution Channels
4) By Category: Mass, Premium
5) By End User Application: Health & Beauty, Dishwash, Clothes, Other End Use Applications
Access the Complete Report for In-Depth Analysis:
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Soap And Cleaning Compounds Global Market Report 2024from TBRC covers the following information:
•Market size date for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries:Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
TheSoap And Cleaning Compounds Global Market Report 2024byThe Business Research Company is the most comprehensive report that provides insights on soap and cleaning compounds market size, soap and cleaning compounds market drivers and trends, soap and cleaning compounds market major players, soap and cleaning compounds market competitors' revenues, soap and cleaning compounds market positioning, and soap and cleaning compounds market growth across geographies.The soap and cleaning compounds market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the market report and tap into segments with the highest growth potential.
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