Future Market Insights offers key insights on the global industrial cleaners market, in its latest report titled, ‘Industrial Cleaners Market: Global Industry Analysis (2013-2017) and Opportunity Assessment (2018-2028)’. The study analyses the industrial cleaners market, and offers critical and in-depth insights for the forecast period. Based on the findings specified in the report, the industrial cleaners market is expected to witness robust growth over the forecast period, due to the increasing demand from end use industries such as oil & gas, petrochemicals, food & beverages, and other manufacturing industries, coupled with growing health and safety concerns at manufacturing industries. The global industrial cleaners market is expected to witness steady demand across regions, due to the growth of various manufacturing industries where industrial cleaners are most commonly used. The market is expected to grow at a CAGR of 5.2% during the forecast period (2018–2028).
Global Industrial Cleaners Market Dynamics
The global industrial cleaners market is highly fragmented due to the presence of global players such as BASF SE, Croda International plc, and Solvay S.A., and a large number of local and domestic manufacturers spread across different regions. Established global players in the industrial cleaners market are primarily focusing on increasing their manufacturing capacities as well as introducing sustainable and multipurpose industrial cleaners to stay competitive in the ever-growing market. Global players are thriving in the industrial cleaners market due to their widespread distribution channels, sales networks, and wide product portfolios, and are able to maintain a steady year-on-year growth in revenue. Domestic manufacturers, although large in number, offer stiff competition to the global players in their respective regions in the industrial cleaners market.
Growing health concerns coupled with increasing safety and health awareness among manufacturers and employees alike, are creating a surge in the demand for industrial cleaners across various end use industries. Industrial cleaners not only clean and protect manufacturing equipment, and make them safe, corrosion-free, and efficient, they also help in reducing the harmful effects caused by the chemicals used in manufacturing processes on human health and the surrounding environment. Hence, the demand for industrial cleaners is increasing at a robust pace across industries.
Global Industrial Cleaners Market: Segmentation Overview
- On the basis of product type, the degreasers segment is expected to be a prominent segment in the global Industrial cleaners market. Degreasers are the one of the most common industrial cleaners used across almost all manufacturing industries involving equipment with moving parts, as they tend to accumulate grease and rust. This segment is expected to hold a high market share by the end of forecast period in the industrial cleaners market.
- On the basis of end use industry, the oil, gas & petrochemicals and other manufacturing segments are expected to create high demand for industrial cleaners. These industries involve the use of various chemicals, equipment, and processes, which, in turn, increases the need for various cleaning chemicals. Increasing population and increasing demand for energy and consumer goods are expected to drive the growth of these end use industries, which, in turn, will create increased demand for industrial cleaners.
Global Industrial Cleaners Market: Regional Overview
The global industrial cleaners market is expected to be driven mainly by China, South East Asia & Pacific, and India. North America and Europe have high market shares in the global industrial cleaners market, and these regions are projected to create huge demand for industrial cleaners due to the growing number of manufacturing industries. In China and India, with the growing population and the increasing need for consumer goods, manufacturing industries are also increasing exponentially, which, in turn, is expected to create huge demand for industrial cleaners during the forecast period.
Global Industrial Cleaners Market: Vendor Insights The report highlights some of the leading players in the global industrial cleaners market such as BASF SE, Croda International plc, Huntsman Corporation, Solvay S.A., The Dow Chemical Company, Evonik Industries AG, Mitsubishi Chemical Holdings Corporation, Akzo Nobel N.V., Clariant, Ecolab, 3M Company, Stepan Company, Quaker Chemical Corporation, Kao Chemicals GmbH, Neos Company Limited, and WVT Industries
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