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Research Nester published a report titled“ industrial cleaning chemicals market – Global Demand Analysis and Opportunity Outlook 2020-2028′′ which delivers detailed overview of the industrial cleaning chemicals market in terms of market segmentation by product type, by ingredient type, by application type, by end users and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter's five force model.
The market for industrial cleaning chemicals is anticipated to record a notable CAGR of around 5% over the forecast period 2020-2028. The growth in the food & beverage industry along with the increased concerns about health & hygiene at workplace is driving the growth of industrial cleaning chemicals. Further, the extensive use of these cleaning chemicals in various industrial sectors in order to prevent the chemical and biological hazards at workplace is accelerating the market growth. Hence, industrial cleaning chemicals will witness increased demand owing to the rapid industrial growth in emerging economies. On the basis of end users, the market is segmented into automotive, transportation, food processing, agriculture, oil & gas, healthcare and others.
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The healthcare segment is estimated to view fastest growth in the market on the account of growing infrastructure with increased focus on hygiene and rising demand for high performance cleaning chemicals. Moreover, increase in the number of hospitals is leading to the high consumption of cleaning agents in healthcare, which in turn, is anticipated to boost the market growth.
Based on the regional analysis, the market for industrial cleaning chemicals is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The increase in the hospital construction and favorable government initiatives for the maintenance of public places and clean operations will account for the dominance of North America in the industrial cleaning chemicals market. Additionally, rising awareness regarding healthy and hygienic environment will further boost the market growth. The market in Asia Pacific is estimated to observe largest share in the market on the back of surge in the demand for industrial cleaning chemicals along with the rising urban population. Further, increased spending power of consumers for their hygiene is rising the demand for the product. Hence, these reasons are estimated to drive the growth of the market during the forecast period.
Increasing Hygienic Concerns and Demand for Laundry Care Products
The rising concerns regarding the maintenance of cleanliness in food service industry and healthcare surroundings are driving the demand for industrial cleaning chemicals. In addition, establishing new outlets and facilities along with the rising cases of infections caused by contaminants are boosting the market growth. The demand for laundry care products is on pace owing to the property of these products to remove germs, dirt and other bacteria. Moreover, the presence of surfactants and solvents in laundry care products and formulation of these products for industrial use are fueling the growth of the market. Hence, selection of these products on the basis of fabric type to remove stains and to prevent spread of infectious diseases are further anticipated to account for the growth in the market over the forecast period.
However, stringent environmental regulations and industrial policies along with the health hazards related to some of the cleaning chemicals is expected to operate as a key restraint towards the growth of industrial cleaning chemicals market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the industrial cleaning chemicals market which includes company profiling of Arrow Solutions, Ashburn Chemical Technologies, Satol Chemicals, Sunburst Chemicals, Dow Chemical Company (NYSE:CTA-A), Evonik Industries AG (ETR:EVK), Ecolab (NYSE:ECL), Solvay (EBR:SOLB), Diversey Inc., and Graham Chemical.
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The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the industrial cleaning chemicals market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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