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Industrial Cleaning Chemicals Market to be Valued US$ 61.6 billion by 2026- Latest Report by MarketsandMarkets™

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Industrial Cleaning Chemicals Market to be Valued US$ 61.6 billion by 2026- Latest Report by MarketsandMarkets™

December 09
00:05 2022
Industrial Cleaning Chemicals Market to be Valued US$ 61.6 billion by 2026- Latest Report by MarketsandMarkets™
Browse 307 market data Tables and 73 Figures spread through 322 Pages and in-depth TOC on “Industrial Cleaning Chemicals Market”
Industrial Cleaning Chemicals Market by Ingredient Type (Surfactants, Solvents, Chelating Agents, Ph Regulators, Solublizers/ Hydrotropes, Enzymes), Product Type, and Region (APAC,North America, Europe, MEA, South America)

The market size of industrial cleaning chemicals was USD 48.1 billion in 2021 and is projected to reach USD 61.6 billion by 2026, at a CAGR of 5.1% between 2021 and 2026. The growth of the industrial cleaning chemicals market is primarily triggered by its increasing use in the refining & petrochemical and power generation industries. The overall growth of the industrial cleaning chemicals market is closely connected to the growth of end-use segments, such as manufacturing & commercial offices, healthcare, retail & food service, automobile & aerospace, hotels, and food processing & dairy industry, among others. Cleaning plays a very important role in the growth and performance of these industries. North America is the largest market for industrial cleaning chemicals, followed by Asia Pacific and Western Europe. The strong awareness regarding hygiene and various cleanliness standards in the developed economies in the region is fueling the growth of the industrial cleaning chemicals market. Certain industrial cleaning chemicals are subject to various regulations by environmental and government authorities due to the VOC content (mostly in solvent-based cleaning products). Solvent cleaners contain mineral spirits, a solvent commonly used for hard surface cleaning because of their ability to quickly dissolve oil, grease, dirt, grime, burnt-on carbon, and heavy lubricants. However, the development of green and bio-based cleaning chemicals is expected to offer a lucrative opportunity to the industrial cleaning chemicals market during the forecast period.

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Based on product type, the industrial cleaning chemicals market is segmented as oven & grill cleaners, metal cleaners, dish washing, general cleaning & medical device cleaning, food cleaners, dairy cleaners, disinfectants, and commercial laundry. general cleaning & medical device cleaning is estimated to be the largest type segment, in terms of value, globally. General cleaners include cleaning chemicals used for floor care, hard surface care, carpet care, and cleaning of medical devices. They are used to clean and maintain basic hygiene at the workplace. High demand from hospitals and other healthcare institutes is driving the market in medical device cleaning applications.

Based on ingredient type, the industrial cleaning chemicals market has been segmented into surfactants, solvents, chelating agents, ph regulators, solublizers/ hydrotropes, enzymes, others. The surfactant segment accounted for the largest share of the overall market, in terms of value, in 2020. Surfactants are the most widely used ingredient in every cleaning product. The demand for surfactants is very high due to their high performance in industrial cleaning products.

Based on application, the industrial cleaning chemicals market has been segmented into manufacturing & commercial offices, healthcare, retail & food service, hospitality, automotive & aerospace, food processing and others. Healthcare application had the highest market share and is expected to grow at the highest rate during the forecast period. The segment involves cleaning for preparation of surfaces for sterilization, cleaning of clothes, disinfecting, and cleaning of floor surfaces. The increasing demand for the elimination of hazardous air pollutants (HAPs), pathogens, and faster evaporation in medical device cleaning is driving the industrial cleaning chemicals market.

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On the basis of region, North America was the largest market for industrial cleaning chemicals, followed by Asia Pacific and Western Europe in 2020. The strong awareness regarding hygiene and various cleanliness standards in the developed economies in the region is fueling the growth of the industrial cleaning chemicals market. The massive industrial growth in the region has been fueling the growth of the industrial cleaning chemicals market for the past few years, and this is expected to continue over the next five years. Domestic and foreign investments in key sectors such as energy, manufacturing, and construction have been consistently growing over the past decade, which is expected to drive the industrial cleaning chemicals market between the forecast period.

The key market players profiled in the report include Diversey Holdings, Ltd. (US), Evonik Industries AG (Germany), BASF SE (Germany), Stepan Company (US), The Dow Chemical Company (US), Ecolab Inc. (US), Clariant AG (Switzerland), Solvay (Belgium), Pilot Chemical Corp. (US), DuPont De Numerous, Inc. (US), Novozyme (Denmark), National Chemical Laboratories, Inc. (US), Nyco Products Company (US), and Trans Gulf Industries (US). They have adopted strategies such as and new product launch, acquisition, and collaboration in order to gain an advantage over their competitors.

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The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. 

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. 

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About MarketsandMarkets™ 

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. 

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. 

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

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