Detergent Alcohol prices upsurged with mounting demand
- 28-Mar-2022 4:28 PM
- Journalist: Yage Kwon
The surfactant sector has been the largest revenue-generating segment of most countries in the international market since the beginning of the pandemic. As per the ChemAnalyst database, the high price wars amongst the major detergent players because of imperative competitive pricing has brought about the prices of Detergent Alcohol approximately to shoot up about 9% in India, 3% in China, and 0.55% in Indonesia in the Asia-Pacific region.
Many countries, including Japan, China, and India in the Asia-Pacific region, are witnessing higher sales of detergents with rising consumer awareness about hygiene maintenance. There has been a considerable upsurge in the purchases of home care products, predominantly from the middle-class population. The enhanced usage of washing machines in households and commercial firms has resulted in a massive growth in the soaps and detergent industry. According to the Asia-based key players like Kao Corporation (Japan), Unilever Asia Pvt. Ltd., Lion Corporation (Japan), the higher price of liquid detergents compared to other substitute products, for example, detergent powder and detergent bar is owing to the high cost of input raw materials such as feedstock Palm oil and Coconut oil, chemical components, natural fragrances, along with packaging charges.
India is a significant importer of crude palm oil accounting for more than 60% of edible oil import volumes. The high inflation coupled with skyrocketing feedstock Palm Oil prices from Malaysia and the rise in the price of Crude upstream derivatives, especially petrol and diesel in the overseas market spawned a rippling effect on the cost of all major commodities, including downstream Detergent Alcohol.
As per ChemAnalyst,” the need for laundry and household cleaning goods are predicted to increase due to summer season and improved awareness of personal hygiene which will encourage the hike in Detergent Alcohol prices in the international market. Moreover, the growing use of washing machines for laundry services would also boost the worldwide laundry detergents market in the Asia-Pacific region.”