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Industrial Cleaning Chemicals Market Size
Industrial Cleaning Chemicals Market was valued at around USD 46.92 billion in 2023 and is anticipated to register a CAGR of over 4.3% between 2024 and 2032. With stringent regulations and standards governing workplace safety and sanitation, industries such as manufacturing, healthcare, and food processing rely heavily on effective cleaning chemicals to maintain compliance.
Additionally, the growing awareness of infectious diseases and the need to prevent contamination in sensitive environments further amplifies the demand for disinfectants and sanitizers. Moreover, technological advancements in cleaning chemical formulations, such as the development of eco-friendly and biodegradable options, are influencing purchasing decisions and driving market growth. Thus, the market is expected to attain a market value of over USD 68 billion by 2032.
As the market becomes more crowded with numerous players offering similar products, intense competition may lead to price wars and margin pressures, potentially hampering profitability and innovation unless companies differentiate themselves through unique value propositions or niche offerings.
Why are industrial cleaning chemicals preferred in Asia Pacific?
Asia Pacific market generated a revenue of USD 16.61 billion in 2023 and is set to reach USD 24.76 billion by 2032, driven by rapid industrialization and urbanization.
Why is the demand for industrial surfactants rising?
The surfactants ingredient type segment in the industrial cleaning chemicals market recorded 13.46 billion in 2023 and is expected to reach USD 19.96 billion by 2032, due to their exceptional ability to lower surface tension and facilitate the removal of dirt and grease.
How much is the industrial cleaning chemicals industry worth?
Global industrial cleaning chemicals market was valued at USD 47 billion in 2023 and is set to grow at over 4.3% CAGR between 2024 and 2032, driven by technological advancements in cleaning chemical formulations.
Who are the major global industrial cleaning chemicals industry players?
BASF SE, Clariant AD, Diversey Holdings Ltd, Dow Inc, DuPont de Nemours, Inc, Ecolab Inc., Evonik Industries AG, Pilot Chemical Corp., and Pro Chem Inc among others.