Global Home Care Chemicals Market: Snapshot
Major population across the globe is compelled to maintain cleanliness and hygiene to avoid the spread of COVID-19. As a result, there is substantial rise in the use of home care and hygiene products in all worldwide locations. This factor is likely to generate prominent demand avenues in the global home care chemicals market throughout the forecast period of 2020 to 2030. Thus, the market for home care chemicals is experiencing tremendous augmentation in demand for surfactants, solvents, additives, pigments, and other chemicals.
TMR’s upcoming research report on the home care chemicals market delivers comprehensive study of drivers, challenges, opportunities, and restraints in this market. Apart from this, the report sheds light on competitive landscape, important regions, and recent trends influencing the growth of the market for home care chemicals for the assessment period 2020–2030.
The latest report performs bifurcation of the global home care chemicals market based on several important parameters including end-use application, product type, and region. Depending on end-use application, the market for home care chemicals is classified into three segments, namely, laundry/fabric care, surface cleaning, and others.
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Global Home Care Chemicals Market: Growth Dynamics
Vendors working in the global home care chemicals market are experiencing superlative demand avenues from all across the globe. Key reason attributed to this towering demand is rising concerns regarding COVID-19. To avoid the spread of this contagious disease, government bodies all across the world are growing awareness among common population toward maintaining cleanliness and hygiene. As a result, the market for home care chemicals is experiencing soaring demand for hygiene products.
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The global home care chemicals market is likely to gather promising growth opportunities on the back of improved disposable income of major population living all worldwide locations. Apart from this, the market is predicted to gain remarkable sales opportunities due to increased use of cleaning and hygiene products from various organizations and offices.
Global Home Care Chemicals Market: Competitive Analysis
Owing to presence of many active players, the competitive landscape of the home care chemicals market seems to be quite intense. As a result, many market vendors are executing numerous strategies such as mergers and acquisitions to maintain their leading position. A case in point here is the recent acquisition announcement by Evonik. The firm stated that it has completed acquisition of Porocel. This move by Evonik is estimated to strengthen its position in the global home care chemicals market during the forthcoming years.
The latest report on home care chemicals market profiles key players and their business expansion strategies. It also sheds light on important partnerships, collaborations, product launches, and joint ventures. The list of important vendors in the global home care chemicals market includes:
- Lubrizol Corporation
- Croda International Plc
- Evonik Industries AG
- The Dow Chemicals Company
- Clariant AG
- Ashland Inc.
- Huntsman Corporation
- BASF SE
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Global Home Care Chemicals Market: Regional Assessment
In terms of region, the global home care chemicals market shows existence in many regions including North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa. Of all regions, Asia Pacific is one of the lucrative regions of the market for home care chemicals. One of the important factors driving market expansion is rising demand for home care products in the region. The Asia Pacific home care chemicals market is likely to show stupendous growth during the assessment period of 2020 to 2030 on the back of increased urbanization and growing population in the region.