The global industrial cleaners market is poised for substantial growth, with an estimated compound annual growth rate (CAGR) of 5.2% from 2018 to 2028. By the end of the forecast period, it is anticipated to attain a market value of US$ 32.45 billion. This growth is primarily attributed to the expansion and diversification of manufacturing industries across the globe. As these industries continue to evolve and expand, the demand for industrial cleaners is expected to rise significantly, reflecting the market’s promising outlook.
The industrial cleaners market is highly fragmented owing to the presence of a large number of global and domestic players who are leveraging product differentiation to stay ahead in the game. Improved aesthetics and fragrance coupled with innovative production processes to increase product shelf life is pushing revenues in the market for industrial cleaners, as elucidated in a new research study by Future Market Insights (FMI).
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The market is creating increasing growth opportunities for both existing players as well as new entrants. Industrial cleaners manufacturing is relatively cost effective, given the low production costs owing to low investment of capital and limited process training. A low entry barrier for new players is characteristic of the industrial cleaners market.
FMI attributes the growth in sales of industrial cleaners to rapidly increasing demand from end-use industries. Adoption of industrial cleaners has increased significantly across industries such as food and beverages, manufacturing, oil and gas, petrochemicals, and other industries. Growing health and safety concerns especially in the manufacturing sector is pushing demand for industrial cleaners. Industrial cleaners clean and protect manufacturing equipment and make it safe, free from corrosion, and more efficient. Industrial cleaners also help reduce the harmful effects of chemicals used in manufacturing processes on human health as well as the environment. This is one of the significant factors boosting adoption of industrial cleaners across end-use industries.
Sustainable Industrial Cleaning Solutions Trending the Global Market
Global warming has led to a growing demand from industries for sustainable cleaning solutions that are environment friendly, efficient, and safe for human health. Manufacturers of industrial cleaners are launching sustainable products that are safe and effective in a bid to stay competitive.
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Multipurpose Industrial Cleaners are a New Trend in the Global Market
Manufacturers in the industrial cleaners market are launching multipurpose cleaners capable of serving different purposes such as degreasing, acidic cleaning, and other cleaning functions. Launch of a single product with multipurpose functions is a key manufacturer strategy being witnessed in the industrial cleaners market.
Segmental Insights from FMI’s Report on the Industrial Cleaners Market
- The degreasers product type segment is expected to hold high market share in the industrial cleaners market, as degreasers are the most common type of industrial cleaners used in manufacturing industries for cleaning equipment with moving parts, which tend to accumulate rust and grease.
- The oil and gas and petrochemicals end-use industries are expected to register high demand for industrial cleaners. The use of multiple chemicals and equipment in these industries is expected to fuel adoption of industrial cleaners.
Industrial Cleaners Market: Regional Insights
Growth of the industrial cleaners market is expected to be driven mainly by the markets in China, South East Asia & Pacific, and India. North America and Europe are projected to hold high market shares in the global industrial cleaners market, and these regions are expected to create huge demand for industrial cleaners due to the growing number of manufacturing industries. The rapidly expanding population and increasing need for consumer goods in China and India has led to rapid development of the manufacturing sector, which in turn is expected to create huge demand for industrial cleaners.
Key Players in the Industrial Cleaners Market
Some of the leading players in the global industrial cleaners market include Kao Chemicals GmbH, Neos Company Limited, BASF SE, Croda International plc, Huntsman Corporation, 3M Company, Stepan Company, Quaker Chemical Corporation, WVT Industries, The Dow Chemical Company, Evonik Industries AG, Akzo Nobel N.V., Clariant, Ecolab, Solvay S.A., and Mitsubishi Chemical Holdings Corporation.
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Industrial Cleaners Market: Segmentation
Product Type
- Acidic Cleaners
- Optical Effect Products & Stabilizers
- Surfactants
- De-foaming Agents
- Disinfectants
- Degreasers
- Deodorizers
- Refinery Specific Cleaners
End Use Industry
- Oil, Gas & Petrochemicals
- Power Generation
- Metallurgy
- Chemicals
- Food & Beverages
- Paper & Print
- Sugar
- Textiles
- Other Manufacturing
Region
- North America
- Latin America
- Europe
- South East Asia Pacific
- Middle East & Africa
- China
- Japan
- India
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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