Industrial Cleaning Chemicals Market: Current Analysis and Forecast (2022-2028)
$3999 – $6999
Emphasis on Type (Acids, Biocides, Chelating Agents, Surfactants, Stabilizers, Performance Boosters, Solvents, and Others); Application (Food & Beverage Processing, Fabricated Metal Products, Electronic Components, Textile, and Others); and Region and Country
The global industrial cleaning chemicals market is likely to showcase a growth of around 6% during the forecast period. Enhancing performance and maintaining high safety standards are two of the key parameters that are on the list of every industry. Therefore, safe and effective industrial cleaning products are important for reducing or mitigating the risk of product contamination or equipment downtime due to unwanted materials buildup as well as improving industrial hygiene and worker safety. Industrial cleaning chemicals are commonly used for metal cleaning, electronic component cleaning, removal of silicone deposits, and equipment sanitization in the food & beverage process. The demand for these cleaning chemicals is further propelled in the light of COVID-19 owing to the increasing demand for regular sanitizing of equipment in order to curtail the spread of the disease. Further, it is expected that the market for industrial cleaning chemicals would showcase significant growth post-COVID-19 owing to the recovery in the end-use industry including heavy investment in the electronics component industry.
Insights Presented in the Report
“Amongst type, surfactant held a prominent share in the market in 2020”
Based on type, the market is categorized into acids, biocides, chelating agents, surfactants, stabilizers, performance boosters, solvents, and others. Among these, surfactant accounted for a significant market share and is expected to retain its position during the forecast period. This can be attributed to the wide use of surfactants in cleaning products for the purpose of cleansing oil and dirt from a surface. As the demand for cleaning oil from the metal surface is increasing, it is likely that the consumption of surfactants would grow eventually.
“Amongst applications, fabricated metal products accounted for a significant share in 2020”
Based on application, the market is categorized into food & beverage processing, fabricated metal products, electronic component, textile, and others. Among these, fabricated metal products accounted for a significant share of the market. This can be attributed to the fact that metals are more prone to corrosion thereby removing the corrosion before applying any coating on the metal surface is an essential step for its proper functioning, therefore a significant amount of cleaning chemicals are used in fabricated metal products.
“Asia-Pacific is expected to retain its position during the forecast period”
For a better understanding of the market adoption of Industrial Cleaning Chemicals, the market is analyzed based on its worldwide presence in the countries such as North America (the United States, Canada, Rest of North America), Europe (Germany, the United Kingdom, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), and Rest of World. Owing to a large number of industries in the Asia-Pacific countries, especially in China, India, Japan, South Korea, Australia, and ASEAN region, the demand for industrial cleaning chemicals is high in the regional economies. Further, as many developing nations are taking various strategic decisions to attract foreign players to build their facilities in the region, is likely to build strong demand for cleaning chemicals in the foreseeable future.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts
- The report presents a quick review of overall industry performance at one glance
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
- The study comprehensively covers the market across different segments
- Deep dive country-level analysis of the industry
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|2.1.||Research Process of the Industrial Cleaning Chemicals Market|
|2.2.||Research Methodology of the Industrial Cleaning Chemicals Market|
|5||IMPACT OF COVID-19 ON THE INDUSTRIAL CLEANING CHEMICALS MARKET|
|6||INDUSTRIAL CLEANING CHEMICALS MARKET REVENUE (USD MN), 2020-2028F|
|8.1.||Food & Beverage Processing|
|8.2.||Fabricated Metal Products|
|9.1.1.||The United States|
|9.1.3.||Rest of North America|
|9.2.2.||The United Kingdom|
|9.2.6.||Rest of Europe|
|9.3.4.||Rest of Asia-Pacific|
|9.4.||Rest of World|
|11||INDUSTRIAL CLEANING CHEMICALS MARKET OPPORTUNITIES|
|12||INDUSTRIAL CLEANING CHEMICALS MARKET TRENDS|
|13.1.||Demand Side Analysis|
|13.2.||Supply Side Analysis|
|14||VALUE CHAIN ANALYSIS|
|15.1.1.||Porters Fiver Forces Analysis|
|16.3.||The Dow Chemical Company|
|16.4.||Evonik Industries AG|
|16.8.||Croda International plc|
|16.9.||Henkel AG & Co. KGaA|
Research Methodology for Global Industrial Cleaning Chemicals Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of industrial cleaning chemicals, three major steps are undertaken to create and analyze its adoption across the globe. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the industrial cleaning chemicals industry. Post assumption and validation of market numbers through primary interviews, we employed a bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of industrial cleaning chemicals through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the industrial cleaning chemicals market, we conducted a detailed secondary analysis to gather current market insights and share for different segments & sub-segments for major regions. The major segment is included in the report by type and application. Further regional and country-level analyses were conducted to evaluate the overall adoption of industrial cleaning chemicals globally.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of industrial cleaning chemicals. Further, we conducted factor analysis using dependent and independent variables such as growing industrial production and increasing demand for metal cleaning chemicals. A thorough analysis was conducted for demand and supply-side scenarios considering an increasing investment, top partnerships, mergers and acquisitions, business expansion, and product launches in the industrial cleaning chemicals industry.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global industrial cleaning chemicals market, and market shares of each segment. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the bottom-up approach were applied to arrive at the market forecast to 2028 for different segments and subsegments across the major regions globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of value (US$) and the adoption rate of industrial cleaning chemicals across the major markets
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the industrial cleaning chemicals market. Also, the growth strategies adopted by these players to compete in the fast-growing market.
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants by Stakeholders and Regions
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global industrial cleaning chemicals market. Data was split into several segments & sub-segments post studying various parameters and trends in the area of type and application.
The main objective of the industrial cleaning chemicals market study
The current & future market trends of global industrial cleaning chemicals were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a country level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of industrial cleaning chemicals in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
- Segment in the study include the area of the type and application
- Defined analysis of the regulatory framework for the industrial cleaning chemicals industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of industrial cleaning chemicals for the major countries
- Major regions/countries analyzed in the report include North America (the United States, Canada, Rest of North America), Europe (Germany, the United Kingdom, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), and Rest of World
- Company profiles of the industrial cleaning chemicals market players and the growth strategies adopted by them to sustain in the growing market
Deep dive country-level analysis of the industry