July 19, 2024

Rising Demand for Sustainable Cleaning Solutions to Drive Growth in the Detergent Polymers Market

The global Detergent Polymers Market is estimated to be valued at US$ 621.1 Mn or Million in 2023 and is expected to exhibit a CAGR of 5.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Detergent polymers are synthetic polymers used as additives in detergents and cleaning products. They help to maintain the viscosity and structure of detergent liquid concentrates and powders. Detergent polymers are chemical compounds capable of improving cleaning performance by emulsifying and suspending dirt and grease. They also provide antiredeposition benefits that help keep soils from resettling onto fabrics after washing. The growing demand for eco-friendly, sustainable, and high-performance detergents from consumers and industrial users is expected to drive growth of the detergent polymers market over the forecast period.

Market Key Trends:

One of the major trends in the detergent polymers market is the rising demand for bio-based and biodegradable polymers. Consumers are increasingly preferring sustainable cleaning solutions produced from renewable resources. This has prompted manufacturers to develop detergent polymers derived from plants and other natural raw materials. For instance, Itaconix Corporation offers sustainable, plant-based detergent polymers under the trade name Itaconix® that are used in various eco-friendly laundry and cleaning products. The growing popularity of green chemicals is expected to boost the demand for bio-based and biodegradable detergent polymers in the coming years.

Porter’s Analysis:

  • Threat of new entrants: The detergent polymers market requires huge R&D investments and capital expenditures to setup manufacturing facilities. These high entry barriers reduce the threat of new entrants.
  • Bargaining power of buyers: The bargaining power of buyers is moderate as detergent polymers have applications in bulk detergent formulations. However, the availability of substitutes provides some bargaining power to buyers.
  • Bargaining power of suppliers: A few large players dominate the raw material supply chain resulting in higher bargaining power of suppliers. Suppliers can influence prices owing to specialized production processes and technologies required.
  • Threat of new substitutes: Biodegradable polymers are emerging as substitutes but their production cost is currently high. Established application areas also reduce the threat from substitutes.
  • Competitive rivalry: The market has presence of few global players and intense competition on factors like pricing and innovation.

Key Takeaways:

The global detergent polymers market is expected to witness high growth, exhibiting CAGR of 5.1% over the forecast period, due to increasing demand for bio-based and sustainable cleaning solutions.

Regional analysis: Asia Pacific dominates the global market and is expected to maintain its lead position during the forecast period. Growing population, rising incomes, and rapid industrialization in countries like China and India will propel the demand for detergent polymers in the region.

Key players operating in the detergent polymers market are BASF SE, Itaconix Corporation, Nouryon, Intertek Group plc., All-plus Chemical Co., Ltd., Blue Chem India, Unisynth Group, Clariant, and Avi Polymers Limited. Key players are focusing on new product launches, partnerships, and capacity expansions to enhance their market share. For instance, in 2022, BASF launched a new polymer resin under the trade name Ecovio for laundry detergent formulations