Detergent Chemicals Market 2022

The global detergent chemicals market is estimated at US$ 127.7 Billion by 2032.

NEW YORK, NEW YORK, UNITED STATES, September 26, 2022 /EINPresswire.com/ -- Detergent Chemicals Market 2022

This report provides in depth study of “Detergent Chemicals Market” using SWOT analysis i.e. Strength, Weakness, Opportunities and Threat to the organization. Detergent Chemicals Market report also provides an in-depth survey of key players in the market which is based on the various objectives of an organization such as profiling, the product outline, the quantity of production, required raw material, and the financial health of the organization.

The global detergent chemicals market is expected to exhibit a CAGR of 8% during the forecast period. The global detergent chemicals market is estimated at US$ 127.7 Billion by 2032. By product, the surfactants segment is projected to dominate while displaying a CAGR of 8% during the forecast period.

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The growth of the market can be attributed to the growing demand for detergents from various sectors such as personal care, cosmetics, and households. Rapid urbanization and increasing disposable income among the middle class is another vital factor that is contributing to the market expansion during the forecast period.

Players in the market are taking various initiatives to expand their reach across the globe, which is expected to bolster the market in the assessment period. For instance, in 2021, Godrej Consumer Products Limited augmented its laundry portfolio in the Indian market. In another occurrence, in 2019, HUL launched its premium fabric wash line under the ‘Love & Care’ brand. Therefore, the introduction of new products by key players is anticipated to augment the market size in the assessment period.

Increasing consciousness for the environment has motivated players to launch plant-based and eco-friendly detergents. This has been identified as a significant opportunity for market expansion in the forecast period. The Reckitt Benckiser group introduced plant-based laundry detergent on Amazon in the U.S. In another instance, in 2020, P&G India rolled out a new 3 in 1 POD under the aerial brand. Owing to the aforementioned factors, the market is anticipated to witness significant expansion in the forecast period.

On the contrary, associated health issues, volatile prices of raw materials, and the presence of environment-damaging chemicals are projected to hamper the market growth in the forecast period.

Key Companies- 

• Evonik Industries AG
• Akzo Nobel NV
• Clariant AG
• The Stepan Company
• Ashland
• BASF SE
• Procter & Gamble
• Croda International plc
• DuPont
• Solvay S.A.
• Huntsman Corporation

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Key Takeaways from the Market Study:

Market in the U.S to garner US$ 45.6 Billion during the forecast period
By product, the surfactants segment is anticipated to dominate the market while exhibiting a CAGR of 8% in the assessment period
Industry in the U.K is anticipated to garner a market value of US$ 5.2 Billion by 2032
Japanese industry is expected to witness a CAGR of 7% during the assessment period

Competitive Landscape

Key players in the global detergent chemicals market are Akzo Nobel N.V., Evonik Industries AG, Clariant AG, Ashland, and The Stepan Company. Recent key developments in the market are:

In August 2020, RB, a global leader in consumer health and hygiene products, announced the launch of Botanical Origin, a plant-based cleaning brand with products that are affordable and effective. The brand would be available on Amazon and will offer a range of laundry essentials: Laundry Detergent and Fabric Softener.

In February 2022, McLaren Racing and AkzoNobel announced to extend their long-running partnership. The updated agreement would strengthen the successful 13-year relationship and augment new possibilities in the field of technological innovation, areas of sustainability, and product development.

Key geographies evaluated in this report are:

North America - U.S, Canada
Europe - France, Germany, Italy, Spain, and the UK, Eastern Europe, CIS
APAC - China, India, Japan, Australia, Others
Latin America - Argentina, Brazil, Others

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Detergent Chemicals Market - Report Highlights

• A detailed overview of parent market of Detergent Chemicals Market
• Changing Detergent Chemicals Market dynamics in the industry
• In-depth segmentation of Detergent Chemicals Market
• Historical, current, and projected Detergent Chemicals Market size regarding volume and value
• Recent industry trends and developments in Detergent Chemicals Market
• Competitive landscape of Detergent Chemicals Market
• Strategies for key players and products offered
• Potential and niche segments, geographical regions exhibiting promising growth
• A neutral perspective on Detergent Chemicals Market performance
• Must-have information for Detergent Chemicals Market players to sustain and enhance their market footprint

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