The market demand for industrial and institutional cleaning chemicals is predicted to be valued at USD 76.7 billion worldwide in 2023 and grow at a compound annual growth rate (CAGR) of 7.5% from 2023 to 2033. By the end of 2033, the global market share is projected to be worth approximately USD 158.1 billion.
Key Takeaways:
- The global industrial & institutional cleaning chemicals market is estimated to register a CAGR of 5% with a valuation of USD 158.1 billion by 2033.
- The United States is anticipated to dominate the global market by capturing a share of 1% by 2033.
- Germany is estimated to secure a share of 2% in the global market during the forecast period.
- With a share of 5%, Japan is significantly driving the global market.
- Australia is estimated to register a CAGR of 1.2% in the global market by 2033.
Top Trends and Opportunities in the Global Market
Various trends and opportunities influence the global market. Here are some trends and opportunities to consider:
- Eco-friendly and Sustainable solutions: The industry has been witnessing a growing demand for environmentally friendly and sustainable cleaning chemicals. Consumers, corporations, and governments have been increasingly concerned about the environmental impact of cleaning products, leading to a shift towards greener alternatives.
- Automation and Robotics: The adoption of automation and robotics in cleaning processes has increased. Industrial and institutional cleaning companies are exploring ways to improve efficiency and reduce labor costs by incorporating automated cleaning systems.
- Green Certifications and Standards: Many cleaning chemical manufacturers have sought green certifications and labels to cater to the demand for eco-friendly products. These certifications assure customers that the products meet specific environmental standards.
- Customization and Specialization: Clients in various industries seek cleaning solutions tailored to their specific needs. Industrial and institutional cleaning chemical companies are adapting by offering specialized products and services for different applications, such as healthcare, food processing, and hospitality.
- Digitalization and Data-Driven Solutions: The industry has been exploring ways to leverage technology to enhance efficiency and optimize cleaning processes. Data-driven solutions, IoT devices, and predictive analytics are integrated into cleaning operations to monitor performance and schedule maintenance.
Opportunities in the Industrial & Institutional Cleaning Chemicals Market:
- Developing Markets: Emerging economies and regions with rapid industrialization and urbanization present significant industrial and institutional cleaning chemical market opportunities. As more businesses and institutions are established, the demand for cleaning solutions is likely to increase.
- Biodegradable and Non-toxic Formulations: There is a growing market for biodegradable and non-toxic cleaning chemicals. Companies that can develop effective and safe formulations may find substantial opportunities in this segment.
- Collaboration and Partnerships: Collaborating with industrial and institutional clients to understand their specific cleaning needs can lead to opportunities for custom solutions and long-term partnerships.
- Integration of the Internet of Things and Artificial Intelligence: Integrating the Internet of Things devices and artificial intelligence can lead to advanced monitoring and optimization of cleaning processes, providing opportunities for companies to offer cutting-edge solutions.
- Value-added Services: Additional services like training, consulting, and maintenance of cleaning equipment can help cleaning chemical companies differentiate themselves and add value for their clients.
Global Industrial & Institutional Cleaning Chemicals Market Key Players
- Procter & Gamble
- BASF SE
- Clariant
- The Clorox Company, Inc.
- Henkel AG & Co. KGaA
- 3M
- Kimberly-Clark Corporation
- Reckitt Benckiser Group plc
- Croda International PLC
- Albemarle Corporation
- Eastman Chemical Corporation
- Huntsman International LLC
- STEPAN Company
- Westlake Chemicals Corporation
Industrial & Institutional Cleaning Chemicals Market by Segmentation
By Raw Material:
- Chlor-alkali
- Surfactant
- Solvents
- Phosphates
- Biocides
- Others
By Product Type:
- General Purpose Cleaners
- Disinfectants and Sanitizers
- Laundry Care Products
- Vehicle Wash Products
- Others
By End Use Verticals:
- Commercial
- Manufacturing
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa (MEA)
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 ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
