Industry Background:
Growing consumer preference towards home care chemicals and growing inclination of masses towards health and hygiene will help to boost global home care chemicals market in the forecasted period. There are various types of home care chemicals including pigments, surfactants, solvents, and various other additives and chemicals. There are various applications of home care chemicals such as chemicals in the floor, metal and polishing products are anticipated to fuel the growth of the market. In addition, domestic areas where the process of food preparation is conducted every day, are essential to be kept clean and hygienic as ignorance of such practices could adversely affect our health.According to AMA, the market for Home Care Chemicals is expected to register a CAGR of 5.6% during the forecast period to 2026. This growth is primarily driven by Rising Dependency on Health’s And Hygiene, Growing Buying Power of the Middle-Class People and Developing Urbanization As Well As Growing Environment Concerns.
Globally, a noticeable market trend is evident Increasing Adoption in Hospitals and Clinics for Dual Purposes of Cleanliness and As Disinfectant
. The Commodity Chemicals sector in the Europe region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as BASF SE (Germany), Solvay S.A. (Belgium), Clariant AG (Switzerland), Evonik Industries (Germany), Croda International Plc. (United Kingdom), Ashland Inc. (United States), The Dow Chemical Company (United States), Lubrizol Corporation (United States), Huntsman Corporation (United States) and Akzo Nobel N.V. (Netherlands) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 8th March 2019, BASF opened a brand-new Customer Innovation Center for its Care Chemicals division serving the Mexican market. BASF specialists will support and work together with consumers to develop applications for the specific requirements and trends of the variability of market segments such as Home and Personal Care, Industrial Processing and Agricultural Additives.
On 8th March 2019, BASF Care Chemicals in North America has launched Plurafac® LF RA-P, a rinse aid additive developed for plastic surfaces and plastic dishware. Plastic dishes absorb less heat than other materials, which in turn leads to less water evaporation on the surface. This causes increased spotting and filming on plastic dishes.
Regulatory Insights:
“Federal Hazardous Substances Act (FHSA) The federal law that sets out requirements for the labeling of hazardous household products and prohibits the sale of products that are so dangerous that proper labeling is insufficient to protect consumers.”
Market Drivers
- Rising Dependency on Health’s And Hygiene
- Growing Buying Power of the Middle-Class People
- Developing Urbanization As Well As Growing Environment Concerns
Market Trend
- Increasing Adoption in Hospitals and Clinics for Dual Purposes of Cleanliness and As Disinfectant
- Fueling Media Penetration and Literacy
Restraints
- Limitations on Prices and Input Costs
Opportunities
Upsurge in Application of Eco-Friendly Formulations and Green Products and Huge Opportunity Due To Government Initiatives towards Application of Advanced Technologies
Challenges
Stringent Government Regulations Related To Home Care Chemicals
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Home Care Chemicals Study Sheds Light on
The Home Care Chemicals Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Home Care Chemicals industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Home Care Chemicals industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.