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Laundry Care Market Analysis, Size, Share, Growth, Trends and Forecast 2031

The global laundry care market Size are expected to total between US$ 25 Bn and US$ 35 Bn in 2021. With growing demand for eco-friendly packaged laundry care products and increasing adoption of detergent pods, demand for laundry care products will increase at a high pace.

In terms of volume, FMI has forecast the laundry care market size to grow by 4% CAGR between 2021 and 2031. According to the report, over 16% - 21% of home & laundry care market sales are contributed by laundry care products
Sales of liquid detergents are anticipated to rise as consumers choose them more frequently because they offer improved compatibility with washing machines and clean delicate textiles more effectively without causing damage.

Some of the top laundry care market players are introducing liquid detergents with plant-based ingredients in response to the surging demand for organic homecare products. On account of this, sales of laundry care products are expected to increase at 4% CAGR in terms of volume between 2021 and 2031.

Increasing adoption of advanced and automatic laundry machines which are compatible with detergent pods and liquid detergent also will improve the sales of liquid laundry detergents. Demand for sustainable and plant-based liquid detergents is rising, especially across India, China, and South Korea, which is expected to positively impact the growth in the market.

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Historically, demand for laundry care products increased at 4% CAGR between 2016 and 2020. However, with unprecedented outbreak of COVID-19 and increasing awareness for personal hygiene, demand for organic liquid detergents and fabric softeners has burgeoned.

According to the report, emergence of e-commerce platforms and promotion of plant-based liquid detergents and laundry care products will continue accelerating the demand in the laundry care market.

Key Takeaways from FMI’s Laundry Care Market Study
Based on product type, the fabric softeners segment is poised to expand at over 5.6% CAGR 2021
In terms of source type, synthetic segment is expected to register growth at 5.1% CAGR during the forecast period
Sales of powder laundry care products are expected to reach US$ 38.5 Bn between 2021 and 2031
South Korea and Japan are expected to account for over 22% and 34% of global sales in 2021, respectively
India and China are expected to spearhead the growth of South and East Asia laundry care market, respectively during the forecast period

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Competitive Landscape
As per FMI, top players are expected to account for over 25%-35% of global market share in 2021. Key players are focusing on collaboration with e-commerce and local vendors to increase their revenue.
Some of the key players are also introducing sustainable and plant-based laundry care products, targeting vegan consumers, to create lucrative revenues.
For instance, In September 2020, Woolite, a subsidiary of Reckitt Benckiser Group PLC, announced the launch of stain remover wipes which is made up of non-toxic ingredients and with eco-friendly packaging effective on all kinds of stain.

Some of the players operating in laundry care market profiled by FMI are Procter & Gamble Co., Unilever PLC, Colgate-Palmolive Company, Henkel AG & Co. KGaA, Reckitt Benckiser Group PLC, Amway Corporation, Kao Corporation, S.C. Johnson & Son Inc., LG Household & Health Care Ltd., Golrang Industrial Group, Lion Corporation, Church & Dwight Co., Inc. and Alicorp S.A.A. among others

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The global automotive exhaust systems market is expected to reach a market valuation of US$ 106.98 Billion by the year 2022, accelerating with a moderate CAGR of 6.07% by 2022-2032. Automotive exhaust systems market size is anticipated to be valued at about US$ 192.86 Billion by 2032 end.

The sales and manufacture of automobiles in developing countries like China and India are on the rise due to the rapid urbanization of these regions and the rising personal disposable income of their citizens. Growth in the automotive exhaust systems market is anticipated to be driven by rising demand for, and production of, automobiles with high-efficiency exhaust systems.

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The advent of car companies adopting cutting-edge, environmentally friendly technologies to produce low-emission vehicles is expected to fuel the automotive exhaust systems industry's expansion. Demand for these low emission automobiles with an upgraded exhaust system is expected to be bolstered by customers' growing awareness of pollution's toll on human health and the natural world.

Revenue growth is expected to be propelled by strict government pollution rules, which are leading to increased development of exhaust system technologies such as exhaust after-treatment systems and exhaust gas recirculation (EGR) systems. In order to conform to upcoming regulations on vehicle emissions, the automotive industry is developing exhaust systems for diesel engines to reduce NOx emission. Demand for automotive exhaust systems is expected to rise as a result of all the issues.

One factor that is expected to restrain the expansion of the automotive exhaust system market over the coming years is the growing popularity of electric vehicles, which is being encouraged by government subsidies and tax exemption policies around the world.

Key Takeaways

Asia Pacific region is expected to account for more than 60% of the global growth in demand for automotive exhaust systems.
More than 6.8% CAGR growth is predicted for Latin America throughout the forecast period, making it the second fastest growing area.
The expansion of the regional automotive exhaust systems market is anticipated to be bolstered by the rising output and demand for automobiles in nations like Brazil and Mexico.
From 2021 to 2028, the market for commercial vehicles is expected to grow at a CAGR of about 8.0%. This expansion is a direct result of rising demands in the transportation and logistics industries for large vehicles.
One of the most important automotive exhaust systems market is the logistics sector. In 2020, gasoline sales made up almost 80% of total sales, and this trend is expected to continue during the projection period.
Passenger cars generated over 70% of total market revenue in 2020, and this trend is expected to continue over the forecast period. Around the predicted time period, the automotive exhaust systems sector is expected to grow at a CAGR of over 5.0%.
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Competitive Landscape for the Automotive Exhaust Systems Market

There are just a handful of major players in the automobile exhaust systems market. Because of their dedication to innovation and the creation of a wide variety of items for use with exhaust systems, these businesses have risen to the top of respective industries. Companies like these are anticipated to expand their automotive exhaust systems market share throughout the forecast period.

Global Automotive Exhaust Systems Market Key Players

Faurecia S.A., Tenneco Inc., Eberspächer Group, Friedrich Boysen GmbH & Co. KG, Benteler International AG, Futaba Industrial Co. Ltd., Yutaka Giken Co. Ltd., Bosal International N.V., Harbin Airui Automotive Exhaust Systems Co. Ltd., Sejong Industrial Co. Ltd.,

Recent Developments

Futaba Industrial Co., Ltd. stated in May 2021 that they would be participating in the Automotive Engineering Exposition 2021 Online. With an eye on achieving SDGs, the business plans to deploy new exhaust and body system components that enhance fuel efficiency, cut weight, and reduce emissions (Sustainable Development Goals).

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