Soap And Cleaning Compounds Market Characteristics
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.
Competitive Landscape of the Soap And Cleaning Compounds Market
Major players in the global Soap and cleaning compounds market include P&G, Unilever, Ecolab Inc, S. C. Johnson & Son Inc, Colgate-Palmolive.
Soap And Cleaning Compounds Market Size
The soap and cleaning compounds market size is expected to reach $280 billion by 2022, significantly growing at a CAGR of around 4% during the forecast period. The growth in the soap and cleaning compounds market is due to introduction of new products and emerging market growth
However, the market for soap and cleaning compounds is expected to face certain restraints from several factors such as reduction in free trade and fluctuating raw material costs.
Soap And Cleaning Compounds Market Segmentation
The global soap and cleaning compounds market is further segmented based on type and geography.
By Type - The soap and cleaning compounds market is segmented into soap and other detergent, surface active agent, polish and other sanitation goods. Among these segments, the soap and other detergent market accounts for the largest share in the global soap and cleaning compounds market.
By Geography - The global soap and cleaning compounds is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific accounted for largest region in the global soap and cleaning compounds market.
Trends in the Soap And Cleaning Compounds Market
Polymer beads are being used as cleaning agents to reduce water and energy consumption. Tiny, spheroidal plastic chips beads absorb stains, stray dye, and soil, carrying them away from fabrics, resulting in a cleaning process that uses less water and chemicals than traditional commercial washing machines. It also washes fabrics at lower temperatures, thereby conserving energy. For example, Xeros developed near-waterless polymer bead cleaning technology for the dry cleaning, hospitality and industrial industries.
Potential Opportunities in the Soap And Cleaning Compounds Market
With increase in technology development and low oil prices the scope and potential for the global soap and cleaning compounds market is expected to significantly rise in the forecast period.