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Global Home Care Chemicals Market Registers 4.6% CAGR as Consumers’ Capacity to Spend on Home Care Products Grows

The global Home Care Chemicals market was worth US $ 16.1 billion in 2014 and is expected to register CAGR of 4.6% during the forecast period 2015 and 2020.
Published 25 August 2015

New York City, New York, 25 August, 2015: ‘Global Market Study on Home Care Chemicals: Asia Pacific to Witness Highest Growth by 2020’, a new market report from Persistence Market Research, provides the reader an executive summary of the global home care chemicals market with , d an overview based on market analysis, size, and forecast for the 2014-2020 period.

According to the research analysis stated in the report, the global home care chemicals market stood at US$16.1 billion in 2014 and is further expected to register a CAGR of 4.6% during the forecast period 2015-2020. The report includes in-depth analysis of this market based on the key trends, drivers, and restraints that are influencing the global home care chemicals market.

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Home care chemicals are broadly used in institutional and household cleaning products. The demand for home care chemicals is rising due to increasing disposable incomes and purchasing power among the middle-class population. The expanding middle-class population in the world, especially in the APAC region, is expected to result in positive growth of the home care chemicals market until 2020. The market also benefits from the growing awareness among people regarding health and hygiene. Increasing literacy and media penetration, coupled with beneficial government initiatives in order to expand the use of advanced technologies, have created enormous growth opportunities for home care products in the global scenario.

Currently, the main focus of the leading players in the global home care chemicals market is to expand their geographical presence in major regions of the world.

Among some of the key regional markets for home care chemicals, APAC is estimated to observe impressive growth in the forecast period. Growth of the market in this region is due to the presence of a growing middle-class population and their rising capacity to spend on home care chemicals. This is the major factor expected to drive the region’s home care chemicals market at a high CAGR in the forecast period.

Asia Pacific is expected to take up a share of more than 50% in the global home care chemicals market in the next five years. The regional market for home care chemicals is propelled due to the rising population, and is projected to grow at a CAGR of 7.3% until 2020. In 2014, Asia Pacific dominated the market and accounted for US$6.1 billion. The region is thus expected to continue its dominance during the forecast period 2015-2020.

Some of the key players planning on expanding their businesses in Asia Pacific through various mergers and acquisitions are Croda International Plc., Akzo Nobel N.Z., Solvay S.A., BASF SE, The Dow Chemical Company, Lubrizol Corporation, Huntsman Corporation, Evonik Industries AG, Clariant AG, and Ashland Inc.

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This report also analyzes and covers the home care chemicals market’s performance in European nations. Europe is expected to hold more than quarter in the overall market in terms of revenue. However, though Europe offers tremendous potential for growth for companies operating in the home care chemicals market, unfavorable government policies and poor living conditions in the MEA region are expected to hamper the market.

About Us

Persistence Market Research (PMR) is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. PMR boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients’ business needs.

PMR stands committed to bringing more accuracy and speed to clients’ business decisions. From ready-to-purchase market research reports to customized research solutions, PMR’s engagement models are highly flexible without compromising on its deep-seated research values.


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