The Industrial and Institutional Cleaning Chemicals
Market is estimated to be valued at US$ 54.37 Bn in 2023 and is expected to exhibit
a CAGR of 5.2% over the forecast period 2023 to 2030, as highlighted in a new
report published by Coherent Market Insights.
Market Overview:
Industrial and institutional cleaning chemicals include a broad range of
chemical formulations used for cleaning in various industries and institutions.
Floor cleaners, descalers, disinfectants, degreasers, and general purpose
cleaners form an important part of the product landscape in this market. The
growing food processing and healthcare sectors are major end-users of these
chemicals for maintaining hygiene and food safety. Stringent regulations
pertaining to cleanliness and workplace sanitation have further boosted the
demand for cleaning agents.
Market Dynamics:
The industrial and institutional cleaning chemicals market is driven by two
main factors. Firstly, the rapid growth of the food & beverage and
healthcare industries has heightened the need for effective cleaners to ensure
hygienic manufacturing practices. Stringent sanitation protocols necessitate frequent
cleaning and disinfection of facilities. Secondly, the increasing focus on
hygiene and wellness among consumers has prompted commercial establishments
like hotels, restaurants, schools, and offices to frequently sanitize their
premises. This is expected to fuel consumption of institutional cleaners.
Furthermore, the COVID-19 pandemic has intensified awareness regarding cleaning
and disinfection, thereby creating stable demand for cleaning chemicals.
Segment
Analysis
The global industrial and institutional cleaning chemicals market is dominated
by the general purpose cleaners sub-segment. General purpose cleaners account
for over 30% of the market share as they are utilized for cleaning a wide range
of surfaces such as floors, walls, glass, and other hard surfaces across
industries like healthcare, hospitality, food processing, and commercial
offices. The all-purpose nature and multi-surface compatibility of general
purpose cleaners have made them the preferred choice among end-users.
PEST Analysis
Political: Stringent regulations around the use of hazardous chemicals are
being promulgated globally. This is expected to boost demand for eco-friendly
green chemicals.
Economic: Growth in industries like manufacturing, healthcare, hospitality,
food processing is augmenting the installation of new commercial
infrastructure, driving demand for cleaning chemicals.
Social: Rising health consciousness and focus on hygiene is acting as a key
driver for the market. The COVID-19 pandemic has further raised awareness about
disinfection and sanitation.
Technological: Advanced formulation technologies are helping manufacturers
develop products that are effective, have low environmental impact and offer
cost benefits to customers. Automatic dispensing systems for cleaning chemicals
are also gaining traction.
Key Takeaways
Regionally, Asia Pacific accounted for around 35% of the overall market share
in 2023 led by China, India, and other developing nations. The region is
anticipated to retain dominance through 2030 on account of robust economic
growth, rising disposable incomes, and increasing focus on hygiene and
sanitation.
Key players operating in the industrial and institutional cleaning chemicals
market are 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. Strategic acquisitions and
new product launches catering to emerging requirements are helping major
corporations strengthen their presence across key regions.
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