The India cleaning chemicals market is forecasted to register a staggering CAGR of 15 per cent in value terms for the next 10 years, as per the ‘India Cleaning Chemicals Market’ report, a study by leading global market intelligence and consulting company TechSci Research.
The report states that the India cleaning chemicals market which was pegged at USD 2.39 billion in year 2016 will achieve the market size to the tune of USD 9.65 billion.
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Key factors driving growth in India cleaning chemicals market
India is a thriving economy holding tremendous opportunities for cleaning chemicals companies. The country is second most populated country in the world. It is growing fast and the pace of urbanization is simply an unbelievable one.
With these trends the country is also facing a number of challenges. The incidence of infections is also increasing, paving way for the rise of cleaning chemicals industry. The rapid urbanization is coupled with fast commercialization and millions of business establishments look for cleaning chemicals products to meet their cleaning and hygiene requirements.
The TechSci Research report analyzes and forecasts the market size, in terms of value and volume, for residential cleaning chemicals market with respect to product type such as Laundry care chemicals, Floor care chemicals, Kitchen care chemicals, Toilet cleaners, General Purpose Cleaners etc.
Through this report, the companies who are interested in entering the cleaning chemicals market could also evaluate competitor pricing, average market selling prices and margins in the India cleaning chemicals market.
Leading industry players in India cleaning chemicals market
This sterling market research report also helps examine the ideal market pricing, ideal product specification and target sales channel in the India cleaning chemicals market. In addition, it profiles the leading players in the market which are involved in the supply and manufacturing of cleaning chemicals in India.
This includes Hindustan Unilever, Reckitt Benckiser India, Procter & Gamble, Diversey India, Schevaran Laboratories, Ecolab India, Satol Chemicals, Buzil Rossari, Jyothy Laboratories, Dabur India, Haylide Chemicals, S.C. Johnson Products, and Altret Industries Pvt. Ltd.
Due to its high potential and vibrant growth prospects, the India chemicals industry received the Foreign Direct Investment (FDI) of USD 8.8 billion during the period 2000-2013. Over one third of these capital inflows were accounted for in the last three years, beginning year 2010, as per a media report by Business Standard.
A major amount of the foreign investments were made by specialty chemicals manufacturers such as BASF, Dow Chemical Company, Bayer Group, and Clariant International AG.