Global Detergent Chemicals Market Could Reach $127.7B by 2032
According to a study by Persistence Market Research Pvt. Ltd., sales of the global detergent chemicals market are expected to reach US$127.7 billion in 2032.
During the forecast period of 2022–2032, the global compound annual growth rate (CAGR) for the market is project to be 8%.
The study attributes the expectations to the growing demand for detergent from sectors such as personal care, cosmetics, and household, which are all anticipated to play a significant role in driving the market during the forecast period.
Rapid rise in urbanization and growing disposable income among the global middle class, allowing for more consumers consumption of household cleaning products, were also cited as reasons for the expanding market size.
In addition, “Increasing initiative by players to introduce plant-based detergents is projected to offer various lucrative opportunities of market expansion during the forecast period,” the study stated.
For more information, view the study online.