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Industrial Cleaning Chemicals Market worth $59.5 billion by 2028 – At a CAGR of 4.8%

Published: March 1, 2024
Author: TEXTILE VALUE CHAIN

As per the recently published report by MarketsandMarkets™, the Industrial Cleaning Chemicals Market by Ingredient (Surfactants, Solvents, Chelating Agents), Product (General & Medical Cleaning), Application (Manufacturing & Commercial Offices, Healthcare, Retail & Food Service), and Region – Global Forecast to 2028″, size is projected to grow from USD 47.1 billion in 2023 to USD 59.5 billion by 2028, at a CAGR of 4.8% during the forecast period. The growth of the industrial cleaning chemicals market is primarily attributed to the increased concern over a healthier environment, workplace hygiene initiatives, and increasing demand from application post COVID-19 pandemic.

Industrial cleaning chemicals are manufactured using raw materials such as surfactants, solvents, chelating agents, pH regulators, solubilizers/hydrotropes, enzymes, and others. Industrial cleaning chemicals are used in manufacturing & commercial offices, healthcare, retail & food service, hospitality, automotive & aerospace, food processing, and other applications. Developing economies are focusing more on cleanliness and hygiene through different initiatives. Companies have undertaken various initiatives to keep the work area and nearby surfaces clean to avoid unnecessary mishaps.

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  • 304 Market data Tables
  • 71 Figures
  • 335 Pages and in-depth TOC on “Industrial Cleaning Chemicals Market – Global Forecast to 2028″

This report also provides a comprehensive analysis of the companies listed below:

Major players operating in the industrial cleaning chemicals market include BASF SE (Germany), Dow Inc. (US), Clariant AG (Switzerland), Evonik Industries AG (Germany), Solvay SA (Belgium), Diversey Holdings Ltd. (US), Stepan Company (US), Ecolab Inc. (US), Pilot Chemical Corp. (US), and DuPont de Nemours, Inc. (US). These key players have strong distribution networks as well as reliable manufacturing facilities across key regions, such as Western Europe, North America, Asia Pacific, and Central & Eastern Europe. These companies have an established portfolio of reputable services and products, a robust market presence, and strong business strategies. Moreover, they have a significant market share, new & better products with wider applications, strong geographical use cases, and a larger product footprint.

Recent Development in Industrial Cleaning Chemicals Market

1.       In December 2022, Clariant AG announced an expansion of its business by new investments to enhance Chinese ethoxylation plant. An investment of USD 87.5 million is made for increasing capacity for existing products as well as the introduction of new products by the end of 2024.
2.       In November 2022, BASF SE has announced a collaboration with Inditex to develop the first detergent designed to reduce microfiber release from textiles during washing.
3.       In June 2022, Evonik Industries AG celebrated the start of construction of the world’s first commercial rhamnolipid production facility with a groundbreaking ceremony. The new biosurfactant plant is a triple-digit million-euro investment in Evonik’s biotech hub in Slovakia.
4.       In April 2022, Solvay SA announced its production of biodegradable solvent Rhodiasolv IRIS. Previously manufactured in China, this solvent will now be produced at Solvay’s Melle site (France).
5.       In January 2022, Dow Inc. signed an exclusive agreement with Locus Performance Ingredients to expand biosurfactant offerings in the global home care and personal care markets.

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Based on ingredient type, the global industrial cleaning chemicals market is segmented into surfactants, solvents, chelating agents, pH regulators, solubilizers/hydrotropes, enzymes, and others. The surfactants segment dominated the overall industrial cleaning chemicals market, in terms of value, in 2022. The surfactants segment is also projected to at second fastest CAGR in the market during the forecast period. The surfactants segment accounts for the major share due to the awareness about cleanliness and the demand for germ-free, dirt-free, and hygienic working space in environment.

Based on product type, the global industrial cleaning chemicals market is segmented into oven & grill cleaners, metal cleaners, dish washing, general & medical device cleaning, food cleaners, dairy cleaners, disinfectants, and commercial laundry. The general & medical device cleaning segment accounts for the major share of the overall market in terms of value and is also projected to register the highest growth rate during the forecast period. The market for this segment is attributed to the extensive usage in the cleaning of medical equipment, floors, sanitary wares, glass surfaces, carpets, and for maintaining basic hygiene in work and healthcare premises.

Based on application, the global industrial cleaning chemicals market is segmented into manufacturing & commercial offices, healthcare, retail & food service, hospitality, automotive & aerospace, food processing, and others. The healthcare segment accounts for the major share of the overall market in terms of value and it is also projected to register the highest growth rate during the forecast period. The market for healthcare segment is attributed to the increasing health concerns post-pandemic and heavy investment in the healthcare sector in developing economies such as India and China.

Based on region, the global industrial cleaning chemicals market is segmented into Asia Pacific, North America, Western Europe, Central & Eastern Europe, Middle East & Africa, and South America. Asia Pacific has the largest market share for the industrial cleaning chemicals market, in terms of value, in 2022 and is also projected to be the fastest-growing industrial cleaning chemicals market. The booming industrial sector in the region and rise in health expenditure is expected to fuel the growth of the industrial cleaning chemicals market in Asia Pacific. China is the second-largest consumer of industrial cleaning chemicals globally, in terms of value, in 2022, globally.

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