According to the new market research report “Industrial Cleaning Market by Ingredient Type (Surfactant, Solvent, Chelating Agent), Product Type (General and Metal Cleaners), Application (Manufacturing & Commercial Offices, Healthcare, Retail & Foodservice), Region – Global Forecast to 2024″, The global industrial cleaning chemicals market size is projected to reach USD 58.2 billion by 2024, at a CAGR of 4.5% from USD 46.8 billion in 2019.
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The growth of the global industrial cleaning market is primarily triggered by the growth in various applications. Cleaning plays a very important role in the growth and performance in industries such as healthcare, hospitality, and retail. In these sectors, there is direct client interaction, and thus these industries are focused on ensuring cleanliness.
In manufacturing, automotive, and food processing, better hygiene not only results in quality products but is also safe for the workers’ health, which helps in improving productivity. All these industries are projected to grow at a positive rate, which is expected to drive the demand for industrial cleaning in these applications.
Workplace hygiene initiatives are also a driver for the industrial cleaning market. Companies have undertaken various initiatives to keep the work area and nearby surfaces clean. For instance, in developed regions, cleaning regulations are very stringent, and in case of an accident or mishap, the company has to pay huge penalty as compensation.
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The global industrial cleaning chemicals market size is projected to reach USD 58.2 billion by 2024 from USD 46.8 billion in 2019, at a CAGR of 4.5% between 2019 and 2024. The rising demand from manufacturing, healthcare, and retail & foodservice applications is expected to support the growth of the industrial cleaning chemicals market. However, stringent regulations imposed by the government of various countries on the use of a few chemicals are restraining the growth of the market. The development of green and bio-based cleaning chemicals has created opportunities for manufacturers. Diversey Inc. (US), Ecolab (US), BASF SE (Germany), The Dow Chemical Company (US), and Clariant (Switzerland) are the major players in the industrial cleaning chemicals market.
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Diversey Inc. (US) is one of the leading producers of industrial cleaning chemicals. The company actively invests in R&D for creating innovative solutions for the industrial cleaning chemicals market.
Ecolab (US) is another leading player in this market. The company invests vigorously in R&D for new technologies and innovations in product development. The company aims at expanding its presence in Europe with the help of acquisitions.
BASF SE (Germany) is also a leading producer of industrial cleaning chemicals. The company invests heavily in R&D to develop innovative products.
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