Hot Tub Chemicals for Residential Application Market Growth Drivers and Forecast by 2027

The hot tub chemicals for residential application market is expected to grow from US$ 828.09 million in 2019 to US$ 1,369.47 million by 2027; it is estimated to grow at a CAGR of 7.0% from 2020 to 2027.

Increasing demand for chemicals for hot tub maintenance and growing residential construction activities, particularly in developing countries, are driving the growth of the hot tub chemicals for residential application market.The hot tub chemicals market is growing primarily due to the rising popularity of hot tub among fitness-conscious people as a recreational activity. Additionally, the increase in residential construction across the world and the resultant rise in the number of hot tubs in these residential areas fuel the demand for hot tub chemicals. There has been an increase in demand for useful chemicals that remove algae and bacteria from the hot tubs. The augmented awareness level about water quality and the introduction of various regulations that pertain to the same also foster the demand for the hot tub chemicals. The hot tub chemicals prevent the hot tubs from corrosion as well as also prevent it from bacteria and algae. The tub requires maintenance every month, which increases the demand for hot tub chemicals. In addition, increasing interest in sports and water leisure activities as well as a need for recreational activities among millennials, and surging health consciousness among the consumers with evolving lifestyles has led to increased spending on construction of hot tubs, which can, therefore, be favorable for the growth of the hot tub chemicals for residential application market.

In 2019, North America held the highest share of the global hot tub chemicals for residential application market. The demand for hot tub chemicals is increasing in North America owing to factors such as increasing spending capacity and better living standards of consumers, rising popularity of hot tubs among fitness-conscious people, and rapidly growing residential construction across the region.

The COVID-19 pandemic is adversely affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The chemicals and materials is one of the world’s major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns. For instance, China is the global manufacturing hub and largest raw material supplier for various industries and it is also one of the worst affected countries. The lockdown of various plants and factories in China is disrupting the global supply chains and hindering the manufacturing activities, delivery schedules, and various materials sales. Various companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition, the global travel bans imposed by countries in Europe, Asia, and North America are hampering the business collaborations and partnerships opportunities. All these factors are hindering the industries, and thus act as restraining factor for the growth of various markets related to this industry.

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Hot Tub Chemicals for Residential Application Market: Strategic Insights

Market Insights

Growth in the Residential Construction Industry

The growth of the hot tub chemical market is driven by the rising number of residential construction projects globally. Also, there is an increase in demand for hot tubs owing to the recovery of the residential construction industry in the US and other major European countries. Furthermore, China, India, and several other countries across the world have a positive impact on the construction of hot tubs in residential houses, which increases the demand for hot tub chemicals. Attractive amenities in the residential complexes will mostly draw the attention of property buyers who influence builders to include a swimming pool, hot tub, spa, and gym facilities in their projects. The rising disposable income, increasing budget for home purchases, and growing demand for attractive amenities significantly impact the construction of swimming pools, hot tubs, spas, and gyms in residential complexes, which bolsters the growth of the global market for hot tub chemicals for residential applications. The residential hot tub construction market is larger than commercial hot tub construction market. This segment includes hot tubs, mostly built in residential complexes, bungalows, rowhouses, and other individual houses. Thus, an increase in the residential construction projects boosts demand for hot tubs, which propels the need for hot tub chemicals.

Product Insights

Based on product, the global hot tub chemicals for residential application market is segmented into balancers, oxidizers, sanitizers, and others. In 2019, the sanitizer segment dominated the market by accounting for 33.3% of the total market share. Sanitizers are considered as one of the crucial elements for the proper maintenance of the hot tub. Bromine, chlorine, and mineral sanitizers are three types of sanitizers that are commonly used. The use of sanitizers reducing the level of micro-organisms, which are living cells that are so small that they can only be observed from a microscope, by significant numbers to bring bath tub to the safe level, is fueling the growth of the hot tub chemicals for residential application market for the sanitizers segment.

A few key players operating in the hot tub chemicals for residential application market s market are Leisurechem, Phoenix Products Co., Splash Perfect, Online Pool Chemicals, Clever Company, and Canadian Spa Company. These companies provide a wide range of product portfolio for the market. They also have their presence in the developing regions, which provides lucrative opportunities for the growth of the hot tub chemicals for residential application market s market.

The regional trends and factors influencing the Hot Tub Chemicals for Residential Application Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Hot Tub Chemicals for Residential Application Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Hot Tub Chemicals for Residential Application Market Report Scope

Hot Tub Chemicals for Residential Application Market Players Density: Understanding Its Impact on Business Dynamics

The Hot Tub Chemicals for Residential Application Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Report Spotlights 

• Progressive industry trends in the global hot tub chemicals for residential application market to help players develop effective long-term strategies
• Business growth strategies adopted by developed and developing markets
• Quantitative analysis of the market from 2017 to 2027
• Estimation of the demand for hot tub chemicals for residential application across various industries
• PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict market growth
• Recent developments to understand the competitive market scenario and the demand for hot tub chemicals for residential application
• Market trends and outlook coupled with factors driving and restraining the growth of the hot tub chemicals for residential application market  
• Decision-making process by understanding strategies that underpin commercial interest with regard to the growth of the global hot tub chemicals for residential application market  

• Hot tub chemicals for residential application market size at various nodes of market
• Detailed overview and segmentation of the global hot tub chemicals for residential application market as well as its dynamics in the industry
• Hot tub chemicals for residential application market size in various regions with promising growth opportunities

Hot tub chemicals for residential application market, byProduct

• Balancers
• Oxidizers
• Sanitizers
• Others

Company Profiles

• Leisurechem
• Splash Perfect
• Online Pool Chemicals
• Clever Company
• Phoenix Products Co.
• Canadian Spa Company