The global Industrial And Institutional Cleaning Chemicals Market is estimated to be valued at US$ 54.37 Bn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Industrial and institutional cleaning chemicals are used in various sectors including healthcare, hospitality, food processing, building services etc. to clean, wash, disinfect, and sanitize surfaces. These chemicals are in the form of liquids, powders, and pastes used for floor, glass, carpet, and other surface cleaning. The industrial and institutional cleaning chemicals helps in removing dirt, debris, allergens, germs, and disease-causing pathogens. With growing hygiene concerns and stringent safety regulations, proper cleaning and sanitizing has become crucial for various industries to provide a safe and clean environment. The chemicals industry is developing bio-based and organic cleaning formulations to cater to the rising demand for eco-friendly products.
Market Key Trends:
Healthcare industry driven growth
The growing healthcare sector globally due to aging population and increased access is driving the demand for industrial and institutional cleaning chemicals market. Hospitals and other clinical establishments require robust cleaning and disinfecting protocols to prevent cross-contamination and reduce healthcare associated infections. Therefore, there is increased use of surface disinfectants, sterilants, germicidal and virucidal chemicals in the healthcare facilities. Stringent regulations regarding hygiene and rising incidence of hospital acquired infections are also propelling the market growth.
Innovation led by sustainability
Companies in the industrial and institutional cleaning chemicals market are focusing on developing bio-based, green, and sustainable products to cater to the rising consumer demand. Organic and plant-derived ingredients are gaining popularity. Advanced formulation technologies are helping boost the performance of these green chemicals without compromising on the cleaning results. Innovation and new product launches centered around sustainability will be a key market trend.
Porter's Analysis
Threat of new entrants: Low barriers to entry limits the threat of new entrants. Existing players have established brand loyalty and distribution networks.
Bargaining power of buyers: Buyers have significant bargaining power due to the availability of substitute products. Buyers can easily switch between brands based on price and quality.
Bargaining power of suppliers: A few major multinational companies dominate the supplier market. This gives them significant bargaining power over prices and supply contracts.
Threat of new substitutes: New cleaning technologies pose a minor threat. However, established products have brand recognition and performance reliability.
Competitive rivalry: The market is highly competitive with major global players competing on product differentiation, pricing, and supply chain effectiveness.
Key Takeaways
Global Industrial And Institutional Cleaning Chemicals Market Demand is expected to witness high growth, exhibiting CAGR of 5.2% over the forecast period, due to increasing demand from manufacturing facilities, healthcare sector, hospitality industry, and food processing plants.
Regionally, Asia Pacific dominates the market and is expected to continue its leading position during the forecast period. This is attributed to rapidly expanding manufacturing and hospitality industries in the region. North America and Europe are also significant markets owing to stringent hygiene regulations in these regions.
Key players operating in the Industrial And Institutional Cleaning Chemicals market include BASF SE, AkzoNobel N.V., Henkel AG & Co.KGaA, Solvay SA, Huntsman Corporation, Eastman Chemical Company, Lonza Group Limited, Procter & Gamble Co., Croda International Plc., The Dow Chemical Company, Betco Corporation, Sealed Air Corporation and Ecolab Inc. These players focus on new product development and capacity expansion strategies to strengthen their global footprint.
Players, stakeholders, and other participants in the global Industrial Cleaning Chemicals market will be able to gain the upper hand as they use the report as a powerful resource.
The segmental analysis focuses on sales, revenue and forecast by region, by country, company, type, application and by sales channels for the period 2016-2027.Download FREE Sample of this Report @ https://www.24chemicalresearch.com/download-sample/102696/global-industrial-cleaning-chemicals-2021-2027-599 Hydrotropes are used as coupling agents to solubilize the water insoluble and often incompatible functional ingredients of household and institutional cleaning products and personal care products.
They function to stabilize solutions, modify viscosity and cloud-point, limit low temperature phase separation and reduce foam.Market Analysis and Insights: Global Industrial Cleaning Chemicals MarketIn 2020, the global Industrial Cleaning Chemicals market size was US$ 16920 million and it is expected to reach US$ 21680 million by the end of 2027, with a CAGR of 3.6% during 2021-2027.North America is the largest Industrial Cleaning Chemicals market with about 35% market share.
Top 5 companies occupied about 25% market share.Segment by Type, the Industrial Cleaning Chemicals market is segmented intoHydrotropesD-limoneneSegment by Application, the Industrial Cleaning Chemicals market is segmented intoFood & BeverageBuilding ServiceCommercial LaundryVehicle CleaningIndustrial CleaningOthersRegional and Country-level Analysis:North AmericaUnited StatesCanadaAsia-PacificChinaJapanSouth KoreaIndiaSoutheast AsiaAustraliaRest of Asia-PacificEuropeGermanyFranceU.K.ItalyRussiaNordic CountriesRest of EuropeLatin AmericaMexicoBrazilRest of Latin AmericaMiddle East & AfricaTurkeySaudi ArabiaUAERest of MEACompetitive Landscape and Industrial Cleaning Chemicals Market Share AnalysisIndustrial Cleaning Chemicals market competitive landscape provides details and data information by companies.
The report offers comprehensive analysis and accurate statistics on revenue by the player for the period 2016-2021.
Analyzing the outlook of the market with the recent trends and SWOT analysis2.
