Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
IN THE NEWSOn May 05, 2020: Ecolab increased production of its own hand sanitizer formula along with the manufacturing of World Health Organization’s (WHO) hand sanitizer formula. The initiative is taken to meet safety and hygienic needs of customers during this pandemic.
Introduction to Industrial Cleaning Chemicals
Industrial cleaning chemicals are the substances that kill bacteria and remove dirt, bad smell, grease and cutter on surfaces. The substances that are used to aid the cleansing process are either synthetic or natural. Some of the industrial cleaning agents are defined as detergents, disinfectants, abrasives and other cleaning agents. All these cleaning agents are chemically different and can be classified as one of the four varieties: acidic, alkaline and neutral. Acidic cleaning agents generally dissolve the existing materials and help the film to shine again. Alkaline cleaning agents dissolves the fats, oils and proteins found in dirt & sweat and make it easier to remove with water. Neutral cleansers are particularly used to remove surface dirt and debris from floors & tables.
Market size and Forecast
The market for industrial cleaning chemicals is anticipated to record a notable CAGR of around 5% during the forecast period, 2020-2028. The major key factors driving the growth of the market include increased use of cleaning chemicals in industries for disease prevention purpose along with the growth in food & beverage industry globally. Further, the rising concerns regarding health and hygiene at workplace coupled with the growth in healthcare industries is propelling the demand for industry cleaning chemicals. These chemicals are widely used in industrial sectors such as banks, manufacturing, hospitals, hotels and other sectors to control the biological and chemical hazards at workplace. Moreover, rapid industrial growth in emerging nations is also considered to be one of the factors driving the growth of industrial cleaning chemicals market.
Based on end users, the market is segmented into automotive, transportation, food processing, agriculture, oil & gas, healthcare and others, out of which, healthcare segment is estimated to witness fastest growth in the market on the back of increase in the healthcare expenditure globally and rising demand for high performance cleaning chemicals. Additionally, high consumption of cleaning agents in healthcare owing to reduce the concentration level of pathogens along with the increasing number of hospitals is estimated to drive the market growth. Therefore, all these factors combined with growing infrastructure with increased focus on hygiene related to health combined are anticipated to drive the market growth.
Growth Drivers
Rising Demand for Laundry Care Products
The demand for laundry care products is rising on the account of presence of range of laundry care products in the market and formulation of these products specifically for industrial uses. Further, laundry care products are selected on the basis of the fabric and its colour to remove oil & grease in order to prevent illness and spread of infectious diseases. Therefore, presence of solvents and surfactants in laundry care products to effectively remove contaminants will further drive the growth of the market.CLICK TO DOWNLOAD SAMPLE REPORT
Increasing Hygiene Awareness among Consumers
Rising cases of infectious diseases caused by bacteria and viruses is increasing concerns about hygiene among consumers. Maintaining cleanliness in food service industry and healthcare environment are building interest for industry cleaning chemicals. Further, establishment of new facilities and outlets are promoting environmental cleaning to prevent healthcare associated infections. Hence, these factors are estimated to drive the market growth.
Restraints
Stringent Environmental Regulations
The stringent environmental regulations in order to reduce volatile organic compound content in cleaning solutions is predicted to hamper the growth of the market. Further, dependency of the industrial cleaning chemicals on environmental policies for several products is expected to witness reduction in demand for cleaning chemicals. Moreover, some of the industrial cleaning chemicals cause health hazards and affects the environment along with the human health negatively. Hence, these factors are expected to serve as a restraint towards the growth of the market over the forecast period.
Market Segmentation
Our in-depth analysis of industrial cleaning chemicals market includes the following segments:
By Product Type
By Ingredient Type
By Application Type
By End Users
By Region
On the basis of regional analysis, the industrial cleaning chemicals market is segmented into five major region including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America for industrial cleaning chemicals is estimated to dominate the region on the back of rising awareness regarding hygienic environment along with the increase in hospital construction. Further, favourable government initiatives coupled with growing industrial cleaning sector towards the maintenance of public places and clean operations are estimated to drive the market growth. The Asia Pacific region is estimated to account for the largest share in the market owing to the expansion in urban population along with the increasing spending power of the consumers for industrial cleaning applications. Moreover, surge in the demand for industrial cleaning chemicals in industries such as manufacturing and food & beverages will further accelerate the market growth during the forecast period.
The industrial cleaning chemicals market is further classified on the basis of region as follows:
Top Key Players Dominating the Market
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