Persistence Market Research (PMR) announces the release of its latest report titled, “Global Market Study on Home Care Chemicals: Asia Pacific to Witness Highest Growth by 2020”. According to the report, the global home care chemicals market was valued at US$ 16.1billionin 2014. The global home care chemicals market is expected to reach US$ 21.1billionby 2020, registering a compounded annual growth rate of 4.6% through the forecast period.
Market Drivers and Restraints
The global home care chemicals market is primarily driven by factors such as mass urbanization, expanding the middle class population, broadened product applications, growing demand for home care products in institutional and foodservice sectors and increasing awareness about health and hygiene. However, restraints faced by the global home care chemicals market are stringent government regulations and limitations on input costs and prices. Moreover, increasing use of green products and eco-friendly formulations is set to gain pace in global home care chemicals market.
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The global home care chemicals market is valued at US$ 16.1 billion in 2014 and is projected to grow at a CAGR of 4.6% during the forecast period and reach a value of US$ 21.1 billion by 2020. The global home care chemicals market is segmented on the basis of region, by product type, and by the end use application.
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