Detergents Chemicals Market is expected to grow from USD 47.1 Billion in 2020 to USD 89.4 Billion by 2028, at a CAGR of 8.5% during the forecast period 2021-2028 : Greyviews
Detergents Chemicals Market BASF SE, The Dow Chemical Company, Huntsman International LLC, Nouryon, Croda International plc, Solvay S.A., Clariant AG, Akzo Nobel N.V, Evonik Industries AG, and Unilever among others. To enhance their market share in the global detergents chemicals market, the key vendors are now focusing on adopting the prominent strategies such as recent developments, product innovation, mergers & acquisitions, joint venture, collaborations, and partnership.
/EIN News/ — Pune India, April 29, 2022 (GLOBE NEWSWIRE) — Detergents chemicals market is anticipated to grow at a steady growth rate over the forecast period, owing to upsurge in demand for detergents from cosmetics, institutional & household, personal care, and other end use industries. Detergent chemicals are variety of surfactants that are used as a main cleaning agent, such as laundry detergent, biological reagents, sapless soaps, and fuel additives, or as a mixing element of surfactants. The detergent chemicals can be produced from petrochemicals synthetically or from oleochemicals derived from plant oils. Major petrochemical feedstock comprises of ethylene and benzene, which are derived from crude oil, while on the other hand major oleochemicals feedstock such as coconut oil and palm kernel oil.
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Key Insights & Findings:
- The surfactants segment led the detergents chemicals market and valued at USD 15.17 Billion in 2020. This is mainly due to wide adoption of surfactants as detergents, wetting agents, foaming agents, dispersants, and emulsifiers.
- The laundry cleaning products segment accounted for the largest market share and valued at USD 13.52 Billion in 2020. Growth of this segment is mainly driven by high consumption of laundry cleaning products across the developing countries such as India and China.
- The household products segment accounted for the largest market share and valued at USD 29.39 Billion in 2020. Growth of this segment is attributed to significant rise in middle class population across the globe coupled with rising consumer spending on personal care and home care products.
- The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. The North America region emerged as the largest market for the detergents chemicals market and valued at USD 13.14 Billion in 2020. Growth of the North America detergents chemicals market is mainly driven by upsurge in consumption of detergents chemicals in varied applications such as industrial cleaners, personal care, and food processing industry. Europe region is anticipated to grow at prominent CAGR over the forecast period, due to the rapid rise in usages of the detergents chemicals in cosmetics and personal care products formulations.
Key players operating in the global Detergents Chemicals Market BASF SE, The Dow Chemical Company, Huntsman International LLC, Nouryon, Croda International plc, Solvay S.A., Clariant AG, Akzo Nobel N.V, Evonik Industries AG, and Unilever among others. To enhance their market share in the global detergents chemicals market, the key vendors are now focusing on adopting the prominent strategies such as recent developments, product innovation, mergers & acquisitions, joint venture, collaborations, and partnership.
- For instance, in April 2021, BASF expanded its EcoBalanced portfolio for cleaners and detergents industry and industrial formulators. This expansion of products enables customers with more environmentally friendly and high-quality solutions without compromising on performance.
- In January 2019, Nouryon launched Ethylan TB345, a more sustainable, water- miscible defoamer, that is projected to help industrial cleaning formulators and household to meet growing customer need for cost-effective and environmentally safe products that do not compromise on performance.
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Global Detergents chemicals Market by Product:
- Bleaching Agents
Global Detergents chemicals Market by Application:
- Laundry Cleaning Products
- Household & Commercial Cleaning Products
- Dishwashing Products
- Personal Cleaning Products
- Fuel Additives
- Biological Reagents
Global Detergents chemicals Market by End User:
- Industrial & institutional
Global Detergents chemicals Market by Region:
- North America
- Southeast Asia
- South America
- Middle East and Africa
- South Africa
- Saudi Arabia
About the report:
This research report gives detailed data about the major factors influencing the growth of the detergents chemicals market at the national and local level forecast of the market size, in terms of value, market share by region, and segment; regional market positions; segment and country opportunities for growth; Key company profiles, SWOT, product portfolio and growth strategies. It studies the market essential sides such as top participants, expansion strategies, business models, and other market features to improve market insight.
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Article originally published at https://www.einpresswire.com/article/570442113/detergents-chemicals-market-is-expected-to-grow-from-usd-47-1-billion-in-2020-to-usd-89-4-billion-by-2028-at-a-cagr-of-8-5-during-the-forecast