Industrial Cleaning Chemicals Market Value, Volume Analysis, Competitive Landscape, Company Profiles, Business Opportunities Till 2027
Industrial Cleaning Chemicals Market: Introduction
- Industrial cleaning chemicals are used for periodic cleaning of industrial facilities. These chemicals help clean and maintain industrial floor for the safety of workers. Cleaning of machineries also helps increase their operating life.
- Industrial cleaning chemicals can also be used to prevent rust formation on pipelines and vessels, heavy machineries, and equipment. Though industrial cleaning chemicals are extremely efficient, one product cannot serve multiple purposes. Each application requires a specifically formulated product.
Key Drivers of Global Industrial Cleaning Chemicals Market
- Rise in awareness about safety, health, and hygiene in the industrial environment is expected to drive the industrial cleaning chemicals market during the forecast period. Rapid industrialization and establishment of various manufacturing and industrial organizations in developing regions are anticipated to act as key factors boosting the industrial cleaning chemicals market during the forecast period.
- Increase in investment in research and development activities to lower the VOC content in various cleaning chemicals is expected to boost the demand for Industrial cleaning chemicals in the near future. Manufacturers of industrial cleaning chemicals need to comply with environmental policies in order to avoid heavy penalties and product recalls. Demand for several products, such as degreasers, rust cleaning agents, and surface cleaners, is high in various industries such as manufacturing, automotive, and water treatment.
Health Care End-use Segment to Offer Lucrative Opportunities to Global Market
- The health care segment is estimated to expand significantly during the forecast period. Rise in health care expenditure is a major factor driving the demand for industrial cleaning chemicals in the health care sector. Furthermore, high frequency of cleaning, which leads to rise in demand for cleaning chemicals, and use of premium and high-performance cleaning products are estimated to fuel the demand for industrial cleaning chemicals in the health care application.
- Large automotive production; and requirement of rust controllers, degreasing agents, and other metal cleaning agents in the automotive industry have propelled the demand for industrial cleaning chemicals in automotive sector
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Stringent Environmental Regulations on Industrial Cleaning Chemicals Likely to Hamper Market
- Environmental regulations significantly affect the industrial cleaning chemicals market. Enactment of stringent environmental regulations to reduce the VOC content in cleaning agents may lower the consumption of industrial cleaning chemicals, thus negatively affecting the market during the forecast period. However, manufacturers of industrial cleaning chemicals are focusing on development of ecofriendly products to meet the product specifications and regulations.
Asia Pacific to Hold Significant Share of Global Industrial Cleaning Chemicals Market
- In terms of region, the global industrial cleaning chemicals market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is projected to dominate the global industrial cleaning chemicals market during the forecast period. Rise in demand for industrial cleaning chemicals in applications such as manufacturing, health care, retail & foodservice, and automotive is likely to boost the market in the region.
- Enactment of stringent regulations for the safety of workers in industrial surroundings is also driving the demand for industrial cleaning chemicals in Asia Pacific
- Growth of various end-use industries such as automotive, manufacturing, and health care in Asia Pacific is also anticipated to propel the consumption of industrial cleaning chemicals in Asia Pacific
- The market in North America and Europe has been expanding at a steady pace. Well established automotive production in Europe boosted the demand for industrial cleaning chemicals in the region in 2018. North America is experiencing high demand for industrial cleaning chemicals from health care and pharmaceutical industries.
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Key Players in Global Market
The global industrial cleaning chemicals market is highly consolidated, with a few large players dominating the market. The market includes a large number of domestic and international players. Additionally, companies operating in the industrial cleaning chemicals market are investing significantly in research activities on low-cost and VOC-free products.
Key players operating in the global industrial cleaning chemicals market include:
- Diversey Inc.
- Evonik Industries AG
- The Dow Chemical Company
- BASF SE
- Stepan Company
- Spartan Chemical Company
- Croda International Plc.
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