DETERGENTS MARKET- GROWTH, TRENDS, AND FORECAST2020-01-06 10:02
DETERGENTS MARKET- GROWTH, TRENDS, AND FORECAST
The market for detergents is anticipated to register a CAGR of more than 4% since 2019 to 2024, during the forecast period. The market is driven by increased availability of shale gas reserves for the production of synthetic detergents. Detergents are surfactants or a mixture of surfactants, which exhibit high-quality cleansing properties in diluted solutions. Alkyl benzene sulfonates and its compounds are the main ingredients in detergent manufacturing.
Stringent environmental regulations and high raw material prices for the production of bio-based detergents are likely to hinder the market growth.
The growth of the oleochemicals market as an advantage for bio-based detergents is projected to act as an opportunity for the market, in the future.