Press release
Industrial & Institutional Cleaning Chemicals Market to Hit $80.51 Billion by 2028, More than $22 Billion Market Opportunities in the Next 6 Years - Arizton
According to Arizton's latest research report, the industrial & institutional cleaning chemicals market will grow at a CAGR of 5.62% during 2022-2028.The global industrial and institutional cleaning chemicals market is provided for the forecast years 2023 to 2028 and a base year of 2022. The market report contains segments by product, raw materials, end-user, and geography. The report provides a holistic approach to the global industrial and institutional cleaning chemicals market, enabling customers to analyze the industry thoroughly.
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Growth in E-commerce Platforms
The institutional & industrial cleaning chemicals market will likely witness rapid growth in the coming years. One of the key reasons is the increasing use of hygiene products after the pandemic outbreak. The rising awareness of personal hygiene and increased focus on safe work environments in various geographies has propelled the worldwide demand for cleaning chemicals, including sanitizers and disinfectants. The market is witnessing increased demand from sectors such as healthcare, hospitality, and manufacturing setups, where these products are used in operations areas, admin blocks, and several other places. The demand for hand hygiene solutions from such markets has also grown in countries such as China, Japan, and India due to booming commercial healthcare settings and a shift in consumer behavior in developing countries.
Competitive Analysis
The leading vendors include 3M, Procter & Gamble, and BASF. The presence of diversified international and regional vendors characterizes the market. As international players continue to expand their footprint in the market, regional vendors will find it increasingly difficult to compete with them. The competition will be solely based on features such as quality, quantity, innovation, and price. The market competition is expected to intensify further with increased product/service extensions, innovations, and mergers and acquisitions. Arizton believes that international players can grow inorganically by acquiring regional or local players in the future.
Companies with better technical and financial resources can develop innovative products with respect to material use and ease of wearing. This could pose a threat to the products of competitors and render them non-competitive and even obsolete before the recovery of R&D and commercialization costs. Therefore, vendors must develop innovative technologies to stay abreast of advanced technologies and enjoy a competitive edge over their rivals.
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Geographical Insights
North America was the largest revenue contributor to the global industrial & institutional cleaning chemicals market, accounting for a market share of 32.26% in revenue in 2022. The US holds a significant revenue share in the North American industrial & institutional cleaning chemicals market, which is attributable to the widespread usage of industrial and institutional cleaning chemicals in healthcare facilities, nursing homes, hospitals, restaurants, institutions, and hotels.
APAC accounted for 28.54% of market shares in revenue in 2022, with a CAGR of 6.08% during the forecast period. APAC was led by China, Japan, Australia, and India, which are also on their way to becoming significant industrial and institutional cleaning chemical markets. This is mainly attributed to factors such as the increasing number of infectious diseases, which increases the demand for sanitization and cleanliness, thereby favorably impacting the demand for these products.
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Key Company Profiles
Procter & Gamble
BASF
3M
Henkel
Dow
Betco
Ecolab
Diversey
AkzoNobel
Clariant
Solvay
The Clorox Company
Croda International
Kimberly-Clark
Stepan Company
Reckitt Benckiser
Albemarle Corporation
Eastman Chemical Company
Westlake
Sasol
GOJO Industries
BODE Chemie
Cantel Medical
CarrollCLEAN
Chattem Chemicals
Christeyns
Cleenol
CleanWell
Kutol
Nice-Pak
Pal International
Market Segmentation
Product: General Purpose Cleaners, Disinfectants & Sanitizers, Laundry Care, Vehicle Wash, Warewashing Detergents, and Others
Raw Material: Surfactant, Solvents, Chlor-alkali, Phosphates, Biocides, and Others
End-user: Commercial (Healthcare, Food Service, Retail, Laundry Care, and Others), Manufacturing (Food & Beverage Processing, Metal Manufacturing & Fabrication, Electronic Components, and Others), and Institutional & Government
Geography: North America, Europe, APAC, Latin America, and Middle East & Africa
Key Questions Answered in the Report:
How big is the industrial and institutional cleaning chemicals market?
What is the growth rate of the global industrial and institutional cleaning chemicals market?
What are the growing trends in the industrial and institutional cleaning chemicals market?
Which region holds the most significant global industrial and institutional cleaning chemicals market share?
Who are the key players in the global industrial and institutional cleaning chemicals market?
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Check the detailed table of contents of the report @ https://www.arizton.com/market-reports/industrial-and-institutional-cleaning-chemicals-market?details=tableOfContents
About Us:
Arizton Advisory and Intelligence is an innovative and quality-driven firm that offers cutting-edge research solutions to clients worldwide. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
We offer comprehensive market research reports on consumer goods & retail technology, automotive and mobility, smart tech, healthcare, life sciences, industrial machinery, chemicals, materials, I.T. and media, logistics, and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
Arizton comprises a team of exuberant and well-experienced analysts who have mastered generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
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