Industrial Cleaning Market Worth $58.2 Billion by 2024 - Exclusive Report by MarketsandMarkets™

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Oct 24, 2019, 08:30 ET

CHICAGO, Oct. 24, 2019 /PRNewswire/ -- According to the new market research report "Industrial Cleaning Market by Ingredient Type (Surfactant, Solvent, Chelating Agent), Product Type (General and Metal Cleaners), Application (Manufacturing & Commercial Offices, Healthcare, Retail & Foodservice), Region - Global Forecast to 2024", published by MarketsandMarkets™, the global Industrial Cleaning Market size is projected to reach USD 58.2 billion by 2024, at a CAGR of 4.5% from USD 46.8 billion in 2019.

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The growth of the global industrial cleaning market is primarily triggered by the growth in various applications. Cleaning plays a very important role in the growth and performance in industries such as healthcare, hospitality, and retail. In these sectors, there is direct client interaction, and thus these industries are focused on ensuring cleanliness.

In manufacturing, automotive, and food processing, better hygiene not only results in quality products but is also safe for the workers' health, which helps in improving productivity. All these industries are projected to grow at a positive rate, which is expected to drive the demand for industrial cleaning chemicals in these applications.

Workplace hygiene initiatives are also a driver for the industrial cleaning market. Companies have undertaken various initiatives to keep the work area and nearby surfaces clean. For instance, in developed regions, cleaning regulations are very stringent, and in case of an accident or mishap, the company has to pay huge penalty as compensation.

Surfactants is the largest ingredient type of the industrial cleaning market.

The surfactants segment accounted for the largest share of the global industrial cleaning market in 2018. Surfactants, also called surface-active agents, are organic chemicals that change the properties of water by lowering the surface tension of water. They enable the cleaning solution to wet a surface (such as clothes, dishes, and countertops) more quickly, so soil can be readily loosened and removed (usually with the aid of mechanical action). They are the most widely used ingredient in everyday cleaning products. Due to their high performance in the industrial cleaning products the demand for surfactants is very high.

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General cleaners are estimated to be the largest product type of the industrial cleaning market during the forecast period.

The general cleaners segment is estimated to be the largest product type of industrial cleaning during the forecast period. General cleaners include cleaning chemicals used for floor care, hard surface care, and carpet care. They are used to clean and maintain basic hygiene at the workplace. Due to the high demand for these cleaning products, the demand for general cleaners is high in various industries.

Manufacturing & commercial offices is estimated to be the largest application of the industrial cleaning market during the forecast period.

Manufacturing & commercial offices involve the manufacturing sector, banks, and corporate headquarters. The manufacturing sector involves cleaning of machinery and hard surfaces apart from general cleaning. Commercial offices, on the other hand, require normal general cleaning. Also, in developed economies such as North America and Europe, the companies have to pay high penalty for not maintaining the required hygiene and cleanliness standards. All these factors have resulted in companies focusing on ensuring cleanliness, thus driving the industrial cleaning market.

APAC is estimated to be the largest market for industrial cleaning during the forecast period.

APAC is the largest market for industrial cleaning, followed by North America and Western Europe. The massive industrial growth in APAC has been fueling the growth of the industrial cleaning market over the past few years, and this is expected to continue during the next five years. Domestic and foreign investments in key sectors such as energy, manufacturing, and construction have been consistently growing over the past decade, which is expected to drive the industrial cleaning market between 2019 and 2024.

The key Industrial Cleaning Market players profiled in the report include Diversey Inc. (US), Evonik Industries AG (Germany), The Dow Chemical Company (US), BASF SE (Germany), Clariant (Switzerland), Stepan Company (US), Ecolab (US), Solvay (Belgium), Spartan Chemical Company (US), and Croda International Plc. (UK).

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