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Press Release: Industrial and Institutional Cleaning Chemicals Market to grow with a CAGR of 4.1% between 2020 and 2027
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Industrial & institutional cleaning products are cleaning chemicals that are widely used for routine cleaning across various industries such as warehouses, research & development laboratories, pharmaceutical, residential areas, institutes, offices and other industries. They can be classified into building care chemicals, kitchen care chemicals, laundry care chemicals, and hand hygiene chemicals.
Statistics:
The global Industrial & institutional cleaning products market accounted for US$ 45,957 Mn in terms of value and 17,478 Kilo Tons in terms of volume by the end of 2019.
Drivers:
Driver 1
Rising prevalence of Healthcare-Associated Infections (HAI) as the devices used in the medical procedure are highly prone to serious Infection if not sterile properly is fueling market growth. This is attributed to the increasing visit of patients in the hospital due to a rise in serious illness. According to the study conducted by the European Centre for Disease Prevention and Control (ECDC), around 4,100,000 patients acquire a healthcare-associated infection in the European Union every year.
Driver 2
Growing hygiene and health awareness among consumers is expected to accelerate the market growth of the industrial & institutional cleaning chemicals. Rising awareness regarding the infections caused by various virus and bacteria due to the increasing prevalence of the outbreak of viral infections around the globe is further expected to augment the market growth of the industrial & institutional cleaning chemicals over the forecast period.
Statistics:
North America region dominated the global Industrial & institutional cleaning products market in 2019, accounting for 35.1% share in terms of value, followed by APEJ and Western Europe, respectively.
Figure 1: Global Industrial and Institutional Cleaning Chemicals Market Share (%) in terms of Value, By Region, in 2019
Market Restraints
Restraint 1
Strict environmental regulations set by the government for the use of the cleaning chemicals as they have a negative environmental impact is expected to restrict the market growth over the forecast period.
Restraint 2
Higher labor cost for applying cleaning chemicals is expected to hamper the market growth of the industrial & institutional cleaning chemicals.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2019 | Market Size in 2019: | US$ 45,957.0 Mn |
| Historical Data for: | 2016 to 2019 | Forecast Period: | 2020 to 2027 |
| Forecast Period 2020 to 2027 CAGR: | 5.2% | 2027 Value Projection: | US$ 66,468.0 Mn |
| Geographies covered: |
U.S., Canada, Brazil, Argentina, Mexico, Rest of Latin America, U.K., Germany, France, Italy, Spain, Russia, Rest of Europe, China, India, Japan, ASEAN, South Korea, Australia, Rest of Asia Pacific, Middle East, Africa |
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| Segments covered: |
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| Companies covered: |
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. |
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| Growth Drivers: |
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| Restraints & Challenges: |
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Market Opportunities
Opportunity 1
Growing demand for aesthetics and fragrance cleaning products across various end-user industries is projected to foster the market growth of the industrial & institutional cleaning chemicals. Manufacture are developing polymers and chemicals that can add fragrances to the cleaning products is expected to open new avenues to the market of industrial & institutional cleaning chemicals in the near future.
Opportunity 2
The low entry barrier of new players in the industrial & institutional cleaning chemicals market is expected to bring new growth opportunities over the forecast period. This only requires very low capital investment and the production process requires basic training which reduces the overall manufacturing process. These factors are expected to create new opportunities for new entrants.
Figure 2: Global Industrial and Institutional Cleaning Chemicals Market– Opportunity Analysis
Statistics:
For any segment information:
Commercial segment in the Global Industrial & institutional cleaning products market is valued at US$ 20,367.40 Million in 2019 and is forecast to grow at a CAGR of 5.1% between 2020 and 2027.
Market Trends/Key Takeaways
Trend 1
The rising trend of green cleaning initiatives is gaining traction in the market is expected to accelerate the market growth of the industrial & institutional cleaning chemicals. Growing awareness regarding the environmental cleaning coupled with the growing adoption of cleaning workplace practices due to strict hygienic regulations is projected to augment the market growth of over the forecast period.
Trend 2
The development of an innovative product with enhanced properties in the laundry care chemicals segment is expected to be a major trend in the expected to foster market growth. This is attributed to the increasing focus on the preservation of the original colors of fabrics. Moreover, increasing development of sustainable ingredients for cleaning chemicals in response to the growing need for a safe and sustainable environment.
Competitive Section:
Company Names
Betco Corporation
The industrial and institutional cleaning chemicals are being used for removal of dirt such as dust, stains, and clutter on the surfaces and also for treating the bad odors. These are manufactured using numerous raw materials such as the chlor- alkalis, surfactants, solvents, phosphates, biocides and others.
Market Dynamics
Industrial and Institutional Cleaning Chemicals are the cleaning agents which are being used for the routine cleaning of offices, institutions, warehouses, and industrial facilities. The growth of the global industrial and institutional cleaning chemicals market would be majorly driven by the increasing awareness amongst the public towards health and hygiene and the increasing number of safety and environmental regulations as proposed by various governments.
The cleaning chemicals industry is also experiencing a strong demand owing to the inclination of the industries and institutions towards the eco-friendly and sustainable products. There is a strong demand for bio-based products and therefore, the companies are also focusing on the development of new and innovative bio-based industrial and institutional cleaning chemicals. For instance, Ecolab has established a new product line for bio-based hard surface cleaners. However, the introduction of stringent government regulations and environmental regulations is expected to restrain the growth of the market.
Key features of the study:
Market Taxonomy
“*” marked represents similar segmentation in other categories in the respective section
* Browse 45 market data tables* and 30 figures* on "Global Industrial and Institutional Cleaning Chemicals market” – global forecast to 2027
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