Global Detergent Chemicals Market
As stated in our extensive report; the Global Detergent Chemicals Market accounted for USD 47.2 Billion in the year 2022 and is forecast to reach USD 85.7 Billion by 2030 at a CAGR of 8.9%.
Increasing investment in cosmetic, hygiene, institutional, and household end-use industries is expected to drive the market during the forecast period. Rapid urbanization and increased disposable incomes have enabled consumers to spend more on household laundry. Additionally, increasing literacy and consumer awareness of personal and household hygiene have increased the spread of washcloths. These factors indirectly indicate an increase in the consumption of washing chemicals in the coming years.
Detergent Chemicals are made either from oleochemicals derived naturally from vegetable oils or synthetically from petrochemicals. The main petrochemical raw materials are benzene and ethylene, which are derived from petroleum, while the main petrochemical raw materials are palm kernel oil and coconut oil. The difference in the use of the raw material causes the difference in the sale price of the final chemical product. The ever-evolving rules and regulations regarding the management of chemicals used in the manufacture of detergents may hinder the growth of the market. In addition, fluctuating raw material prices and availability present a challenge to manufacturers trying to provide uninterrupted product supply.
Factors Influencing the Global Detergent Chemicals Market
The growth of the global Detergent Chemicals market can be attributable to the following:
- Growth in the textile industry is expected to drive the growth of the detergent chemical market in the future. The textile industry is a company engaged in the research, design, development, production, and marketing of textiles, fabrics, and clothing.
- In addition, rapid urbanization and rising disposable income of consumers have increased the demand for Detergent Chemicals, increasing awareness of personal hygiene.
- With the development of technology, the major market players are focusing on developing green cleaning products that use environment-friendly materials in the production of detergents and this attribute is expected to drive the growth of the detergent chemical market.
- Additionally, Detergent Chemicals are useful in various applications such as metalworking fluids, household detergents, industrial and institutional cleaners, personal care products, and others, and this factor is expected to drive the growth of the Detergent Chemicals market.
- The development of liquid detergents, which were very effective in removing stubborn grease, created a huge demand for liquid detergents in the market. This feature is expected to drive the growth of the Detergent Chemicals market.
North America Region Anticipated to Dominate the Global Detergent Chemicals Market
North America is anticipated to account for the majority of sales on the global market for Detergent Chemicals. Many well-known players in the Detergent Chemicals business are based in this area. Increasing consumption of Detergent Chemicals in end-use applications such as personal care products, industrial cleaning products, and food processing is expected to drive the growth of the detergent market in this region. Additionally, the growth of the Detergent Chemicals market in the North American region is aided by the presence of large market players in the region who are constantly engaged in the research and development of innovative products.
The overall Detergent Chemicals market sales have been favorably impacted by rising investment in cosmetic, hygiene, institutional, and household end-use industries.
Some of the prominent players in the Global Detergent Chemicals Market include- AkzoNobel (Netherlands), Huntsman Corporation (Texas), Solvay S.A. (Brussels), BASF SE (Germany), Dow Chemicals (U.S.), Tata Chemical (India), Procter & Gamble (U.S.), Dial Corp (U.S.) and others.