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, /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Industrial Cleaning Chemicals - Global Market Trajectory Analytics" . The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE What's New for 2022?
Global Industrial Cleaning Chemicals Market to Reach $67.6 Billion by 2026
Edition: 8; Released: February 2022 Executive Pool: 7823 Companies: 34 - Players covered include 3M Company; BASF SE; Clariant; Croda International Plc.; Diversey, Inc.; Dow, Inc.; Ecolab, Inc.; Evonik Industries AG; Huntsman Corporation; Kao Chemicals Europe. S.L.; Mitsubishi Chemical Holdings Corporation; Neos Company Limited; Pilot Chemical Company; Quaker Chemical Corporation; Solvay S.A.; Spartan Chemical Co., Inc.; Stepan Company; WVT Industries N.V. (Belgium). and Others. Coverage: All major geographies and key segments Segments: Ingredient (Surfactants, Solvents, Chelating Agents, pH Regulators, Other Ingredients); Application (Manufacturing Commercial, Healthcare, Retail Food Service, Other Applications) Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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Global Industrial Cleaning Chemicals Market to Reach $67.6 Billion by 2026
Industrial Cleaning denotes cleaning agents used in light-duty or heavy-duty cleaning applications in commercial and production facilities. The family includes cleaners used for general-purpose cleaning such as restroom and floor cleaning agents as well as specialized cleaners such as sanitizers and disinfectants. It also encompasses specialized cleaners used in technical cleaning purposes such as electronic and semi-conductor devices. These cleaning agents may be available in solid, semi-solid or liquid form. They may be acidic, basic or neutral in nature. The complete range of measures undertaken to safeguard health and improve quality of life can be collectively termed as 'Hygiene'. Industrial cleaning agents play an important role in protecting human beings and animals against life-threatening diseases caused by microorganisms such as fungi, bacteria, viruses and certain protozoa. They also safeguard perishable goods such as food (fruits, vegetables, meat, milk and milk products) and cosmetics against microbial contaminations. A contemporary hygiene product not only provides protection against microbes, but also disrupts transmission routes of these microorganisms.
Amid the COVID-19 crisis, the global market for Industrial Cleaning estimated at US$58.5 Billion in the year 2022, is projected to reach a revised size of US$67.6 Billion by 2026, registering a compounded annual growth rate (CAGR) of 3.8% over the analysis period. The United States represents the largest regional market for Industrial Cleaning, and is projected to reach US$18.8 Billion by 2026. China is forecast to emerge as the fastest growing regional market with a CAGR of 6.1% over the analysis period.
With growing emphasis on making the workplace cleaner and hygienic for the safety and health of employees as well as visitors, demand for industrial cleaners continues to escalate across industries. Rising awareness on safety liability, voluntary initiatives aimed at health hygiene promotion, and sustained demand from application industries are steering growth and progress in the industrial cleaners market. On the other hand, government initiatives and environmental regulations are immensely contributing to growth and progress of the market, while strongly suggesting a progressive expansion through the coming years. An ongoing trend in the world industrial cleaners market is the rising adoption of eco-friendly bio-based formulations, which exert zero or negligible impact on the environment and living beings while acknowledging the sustainability requirements of the industry. Rising awareness regarding cleanliness along with soaring need for disinfection are paving way for wider use of disinfectants and other industrial cleaners, with textile, chemical and food industries leading such demand from the front. At the same time, the alarming rise in number of communicable and infectious diseases is creating immense need for disinfectants and other cleaning formulations in healthcare industry as well as in municipal and general industrial sites.
Europe and the United States represent leading markets worldwide. Stringent regulations, strong demand from the healthcare industry against the backdrop of growing emphasis on infection prevention and increased hospitalization of the elderly represent key factors driving growth. The emerging and underpenetrated markets in Asia-Pacific and Latin America represent important growth markets. China and India represent two countries with the highest potential driven by burgeoning manufacturing sectors as well as increasing development of institutional and commercial infrastructure. Growth fundamentals such as increasing workforce, changing attitude with regard to employee hygiene, safety and protection, toughening regulations, and additional legislations are all forecast to drive growth in these markets. A strong will to enhance healthcare by governments in almost all developing countries as part of the larger strategy of fueling economic growth is also expected to be a major growth driver in the long run. More
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