New York, June 19, 2015 (GLOBE NEWSWIRE) -- Persistence Market Research (PMR) announces the release of its latest report titled, "Global Market Study on Home Care Chemicals: Asia Pacific to Witness Highest Growth by 2020". According to the report, the global home care chemicals market was valued at US$ 16.1billionin 2014. The global home care chemicals market is expected to reach US$ 21.1billionby 2020, registering a compounded annual growth rate of 4.6% through the forecast period.
Browse the full Home Care Chemicals Market report at http://www.persistencemarketresearch.com/market-research/home-care-chemicals-market.asp
Market Drivers and Restraints
The global home care chemicals market is primarily driven by factors such as mass urbanization, expanding middle class population, broadened product applications, growing demand for home care products in institutional and foodservice sectors and increasing awareness about health and hygiene. However, restraints faced by the global home care chemicals market are stringent government regulations and limitations on input costs and prices. Moreover, increasing use of green products and eco-friendly formulations is set to gain pace in global home care chemicals market.
Market Segments
The global home care chemicals market is valued at US$ 16.1 billion in 2014 and is projected to grow at a CAGR of 4.6% during the forecast period and reach a value of US$ 21.1 billion by 2020. The global home care chemicals market is segmented on the basis of region, by product type, and by the end use application.
By Product Type
The global home care chemicals market is segmented into surfactants, solvents, pigments, other additives and other chemicals. Among these, surfactants accounted for approximately 62.0% of revenue market share in 2014. Surfactants segment is expected to dominate the global home care chemicals market and accounts for US$ 13.4billion by 2020, exhibiting a CAGR of 5.1% between 2015 and 2020, followed by solvents and pigments. Solvents segment is the second-largest product type in terms of revenue and is expected retain its position at a CAGR of 4.4% through the forecast period.
Request a Sample Report: http://www.persistencemarketresearch.com/samples/4528
By End-use Application
The global home care chemicals market is segmented as Laundry/Fabric care, hard surface cleaning, dishwashing and other end-use applications such as air care, auto care and so on. Among all the aforementioned segments, Laundry/Fabric care is expected to dominate the home care chemicals market with over 53% market share through the forecast period. This growth is attributed to rising awareness about cleanliness and increasing income levels. Hard surface cleaning application is projected to witness a CAGR of 5.3% between 2015 and 2020.
Region-wise Growth
Asia Pacific dominated the global home care chemicals market and accounted for US$ 6.1 billion in 2014 and is expected to continue its dominance during the forecast period, followed by Europe and North America. Asia pacific owing to its population explosion is projected to witness a CAGR of 7.3% during the forecast period.
Browse Chemicals and Materials Market Research Reports: http://www.persistencemarketresearch.com/category/chemicals-and-materials.asp
Competitive Landscape
Currently, a key focus of the major players in the global Home Care Chemicals market is on mergers and acquisitions to expand their geographical presence. Key players in the global home care chemicals market includeBASF SE, Solvay S.A., Clariant AG, Evonik Industries, Croda International Plc., Ashland Inc., The Dow Chemical Company, Lubrizol Corporation, Huntsman Corporation and Akzo Nobel N.V.
Browse PMR Market Research Articles:
About Us
Persistence Market Research (PMR) is an innovative provider of market research reports and consulting services. The three PMR pillars of strength that have helped us win clients for years are Quality Research, Quick Research, and In-depth Research.
PMR's team of seasoned analysts and consultants are experts in their domain. At PMR, we process complex, exhaustive primary and secondary research data into valuable insight. We understand that each client has a unique problem statement and address it with our strengths.