Global Home Care Chemicals Market: Overview
Cleanliness is crucial work in our daily routine, which has led to increasing preferences of the consumers towards hygiene and health. People are opting for home care chemical products in order to maintain the healthy lifestyle. Home care chemicals are used in varied of applications such as hospitals, clinics, and public places to disinfectant and avoid from the viral infection. People are more concerned about infectious diseases; hence, as a precautionary step, these products are used.
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Global Home Care Chemicals Market: Growth Factors
Consumer inclination towards hygiene and health may open the gateway to new growth opportunities in the global home care chemicals market. Hence, high demand for solvents, surfactants, pigments, additives, and other chemicals is anticipated to fuel the global market growth in the near future. These home care chemicals used in applications such as institutional cleaning products and everyday jobs. Increasing purchasing power of the middle-class people is expected to further boost the global home care chemicals market growth. Owing to above all factors, the home care chemicals products have grabbed a significant place in the home care industry. Growing urbanization and increasing environment concerns are anticipated to contribute to the growth of the global market.
Global Home Care Chemicals Market: Segmentation
The home care chemicals market is fragmented on the basis of end-use application as dishwashing, hard surface cleaning, laundry/fabric care, and others. Of these, laundry/fabric care segment accounted for the largest market chunk. Based on product type, the global home care chemicals market is further bifurcated as surfactants, solvents, additives, pigments, and others. Of these, surfactant product type segment is widely preferred in the global market. However, solvent product type segment is the second largest in the home care chemicals market.
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Global Home Care Chemicals Market: Regional Analysis
Asia Pacific is the dominating region and is expected to continue its influence in future owing to high demand for home care chemicals in the global market. Due to increasing urbanization and population in this region, the global market is anticipated to propel. Europe is following the same trend, which contributed to major home care chemicals market share. Moreover, Latin America shows tremendous growth in the market for home care chemicals. However, poor living conditions and restriction set by the government for industrial growth in the Middle East & Africa may hinder the home care chemicals market growth in the near future.
Global Home Care Chemicals Market: Competitive Players
Some dominating players in the global home care chemicals market are Lubrizol Corporation, Akzo Nobel N.Z., Evonik Industries AG, and Croda International Plc. Other key players influencing the global market include Clariant AG, The Dow Chemicals Company, BASF SE, Ashland Inc., and Huntsman Corporation.
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