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Soap And Cleaning Compounds Global Market Report 2021: COVID 19 Impact and Recovery to 2030

ReportLinker
·3-min read

Major companies in the soap and cleaning compounds market include P&G; Unilever; Ecolab Inc; S. C. Johnson & Son Inc and Colgate-Palmolive. The global soap and cleaning compounds market is expected to grow from $180.

New York, Feb. 03, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Soap And Cleaning Compounds Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06018801/?utm_source=GNW
99 billion in 2020 to $188.09 billion in 2021 at a compound annual growth rate (CAGR) of 3.9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $224.13 billion in 2025 at a CAGR of 4%.

The soap and cleaning compounds market consists of the sales of soap and cleaning compounds by entities (organizations, sole traders or partnerships) that produce and package soaps and other cleaning compounds, surface active agents, and textile and leather finishing agents used to reduce tension or speed the drying process. The soap and cleaning compounds market is segmented into soap and other detergents; surface active agents and polish and other sanitation goods.

Asia Pacific was the largest region in the global soap and cleaning compounds market, accounting for 31% of the market in 2020. Western Europe was the second largest region accounting for 23% of the global soap and cleaning compounds market. Africa was the smallest region in the global soap and cleaning compounds market.

Companies in the industry are replacing triclosan and triclocarban with chemicals such as benzalkonium chloride, benzethonium chloride or chloroxylenol (PCMX) as they are known to be harmful to both health and environment. Triclosan and triclocarban are the anti-microbial ingredients used in personal care products to stop or slower the growth of bacteria causing harm. These agents are used in products such as soaps, lotions, hand washes, toothpastes, mouthwashes, soaps, deodorants and cleaning compounds. Food & Drug Administration stated that the manufacturers did not demonstrate the ingredients to be safe for long-term daily use and more effective in preventing illness and spread of infections. They are also found in water bodies, thus affecting the marine life. For instance, P&G and Unilever, consumer products companies, stopped manufacturing and using triclosan and triclocarban agents and are replacing them with other chemical ingredients.

The raw materials market is highly volatile, this is expected to have a negative impact on the growth of the soap and cleaning compounds market during the forecast period. When increasing raw material costs coincide with decreasing sales prices, soap and cleaning companies have to compromise on their profit margins. Rising trucking, railroad, dry-bulk and air-freight rates are also negatively impacting the market. Soap and cleaning product manufacturers are extremely sensitive to fluctuating raw material costs.

The global population increased from 7.3 billion in 2015 to 7.6 billion in 2018, thus increasing the global demand for soaps and cleaning products. This significant rise in demand from the population for end-use products gave a major boost to the overall soap and cleaning compounds market. Additionally, rapid urbanization especially in the developing economies supported the demand for these compounds through increased end use product consumption.

Read the full report: https://www.reportlinker.com/p06018801/?utm_source=GNW

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