New York, March 22, 2023 (GLOBE NEWSWIRE) -- The Home Care Chemicals Market is expected to reach US$ 21.8 Billion in 2023 to US$ 34.5 Billion by 2033 With CAGR of at a 4.7% during the forecast period of 2023 to 2033. The Home Care Chemicals Market is a rapidly growing industry that includes a wide range of products used for cleaning and maintaining household items and surfaces. This market is driven by increasing consumer awareness regarding the importance of cleanliness and hygiene, rising demand for eco-friendly and sustainable cleaning products, and the availability of a wide range of products in different forms and sizes.
Home care chemicals refer to a range of products used for cleaning and maintaining household items and surfaces. These products include cleaning agents such as all-purpose cleaners, bathroom cleaners, floor cleaners, and glass cleaners, as well as laundry detergents, fabric softeners, and dishwashing detergents.
Home care chemicals are designed to effectively remove dirt, grime, and stains while minimizing their impact on the environment and human health. Many home care chemicals are now formulated to be eco-friendly and sustainable, using ingredients that are biodegradable and safe for use around children and pets.
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As consumers become more conscious of the impact of their purchasing decisions on the environment, there is a growing demand for eco-friendly home care chemicals that are effective and affordable. Many companies are now focusing on developing sustainable home care products to meet this demand and provide consumers with a more responsible choice for their cleaning needs.
Some of the major players in the market include: BASF SE, Ashland Inc., Solvay S.A., Evonik Industries AG, Clariant AG, Croda International, Lubrizol Corporation, Huntsman Corporation, The Dow Chemicals Company, SWISSOL CHEMICALS (I) PVT.LTD., Elixir Home Care Pvt. Ltd., LAKURA Chemical Company, Wilson Chemical, Dimachem, Henkel Corporation, Unilever plc
Home Care Chemicals Market Trends:
- Growing Popularity of Natural and Organic Products: Consumers are increasingly looking for home care products made from natural and organic ingredients. This trend is driven by concerns over the environmental impact of chemicals used in traditional home care products and the desire for healthier, safer products.
- Innovation in Packaging: There is a growing focus on sustainable packaging materials in the home care industry. Manufacturers are exploring new packaging designs that reduce waste and are more environmentally friendly, such as refillable bottles and compostable packaging materials.
- Increased Convenience and Efficiency: Consumers are looking for home care products that are easy to use and efficient. This has led to the development of new products, such as laundry pods and automatic dishwashing detergents, that are pre-measured and require minimal effort.
- Use of Smart Technology: Smart technology is being integrated into home care products to improve their functionality and efficiency. For example, some dishwashers now feature sensors that detect the level of soiling and adjust the wash cycle accordingly, while others can be controlled using smartphone apps.
- Increased Focus on Health and Wellness: The COVID-19 pandemic has led to an increased focus on health and wellness, which has translated into the home care industry. Products that offer antimicrobial and disinfectant properties are becoming more popular, as consumers seek to maintain a clean and healthy home environment.
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Segment Analysis:
Application segments in the home care chemicals market include dishwashing, hard surface cleaning, laundry care, and others. This market category is anticipated to have the largest share since cleaning or home care chemicals are often used in laundry care applications. Since these clothes come into direct contact with people's bodies, household cleaning products are crucial to laundry maintenance. Infections caused by dirt or bacteria in clothing can be avoided by regularly applying cleaning agents.
In terms of distribution channel, the market is segmented into supermarkets and hypermarkets, online channels, and others. The online channel is expected to witness significant growth due to the increasing popularity of e-commerce platforms.
Regional Analysis:
North America is the largest market for home care chemicals, driven by high standards of living, growing concerns over hygiene and cleanliness, and the availability of a wide range of products. The United States is the largest market in the region, followed by Canada.
Most of the major producers of cleaning chemicals are located in APAC. The sanitation and hygiene standards of APAC nations have been significantly improved, encouraging individuals to use more household cleaning supplies. As the two most populous nations in the world, China and India, in particular, are extremely vulnerable to serious healthcare issues. Because of this, the governments of these nations regularly promote awareness and run programmes about maintaining interior cleanliness and hygiene, preventing the spread of germs, bacteria, and viruses.
Home Care Chemicals Market Competitive Landscape:
In addition to these major players, there are many smaller companies operating in the market, particularly in the area of natural and eco-friendly home care products. These companies are focused on developing products that are safe for the environment and for human health, using natural ingredients and sustainable production methods.
The competitive landscape is also influenced by mergers and acquisitions, with companies seeking to expand their product offerings and reach through strategic partnerships. Regulatory changes and increased focus on sustainability are also shaping the competitive landscape, with companies investing in research and development to develop more environmentally friendly and sustainable products.
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Home Care Chemicals Market Recent News Updates:
- In January 2022, BASF announced the launch of a new line of surfactants for use in home care products. The new surfactants are made from renewable raw materials and are designed to provide superior cleaning performance while being environmentally friendly.
- In November 2021, Dow Chemical Company announced the launch of a new line of chelating agents for use in home care products. The new products are designed to provide better performance than traditional chelating agents while being more environmentally friendly.
- In September 2021, Evonik Industries AG announced the launch of a new line of enzymes for use in home care products. The new enzymes are designed to provide better performance than traditional enzymes while being more environmentally friendly.
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