Global Industrial Cleaning Chemicals Market Growth during the Forecast Period, 2018-2028 // The Dow Chemical Company, Solvay SA, Henkel AG & Co. KGaA., Spartan Chemical Company, Inc
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Chemicals used for the periodic cleaning of industrial facilities are referred to as industrial cleaning chemicals. Industrial cleaning chemicals prepare and maintain industrial floors and keep them non-slippery. Industrial cleaning chemicals are also used for periodic maintena1nce of heavy and light machineries and thus, increase their operating life. These chemicals can also be used to prevent rust formation on pipelines and vessels. Though industrial cleaning chemicals are extremely efficient, one product cannot serve multiple purposes and each application demands a specially formulated product.
However, some factors may limit the growth of industrial cleaning chemicals market during the forecast period. The industrial cleaning chemicals market is largely dependent upon environmental regulations. New and stringent environmental regulations to reduce the VOC content in solutions may negatively affect the overall growth of the industrial cleaning chemicals market during the forecast period. This will manufacturers and formulators to develop ecofriendly products to meet the growing demand.
A considerable amount of research and development is going on in the industrial cleaning chemicals market. Currently, the industrial cleaning chemicals manufacturers comply with the environmental policies in order to avoid any heavy penalty and product recalls. Several products, such as degreasers, rust cleaning agents, surface cleaners, etc. are witnessing continuous demand and are expected to continue to follow a similar trajectory throughout the forecast period.
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Industrial Cleaning Chemicals Market: Regional Outlook
The Asia Pacific Industrial cleaning chemicals market is fragmented due to the presence of numerous Tier-3 players. The market will grow at a rapid pace owing to the high growth being observed in the industrial sector. Increased Foreign Direct Investment in India and the rapidly growing manufacturing segment in China will contribute heavily to the growing demand for industrial cleaning chemicals. The automotive production is also concentrated in China, which will further drive the industrial cleaning chemicals’ consumption in China. Following Asia Pacific are the mature markets of North America and Europe. A steady growth has been observed in these regions and the industrial cleaning chemicals market will follow the same trend throughout the forecast period. Europe ranks second in automotive production and this segment will create high demand for industrial cleaning chemicals during the forecast period. As the United States of America is now recovering from the 2008 – 09 economic crisis, the North American industrial cleaning chemicals market will grow at a steady pace. Middle East & Africa and Latin America will hold almost equal shares in the industrial cleaning chemicals market and will undergo sturdy growth throughout the forecast period.
Some of the market participants identified across the value chain of the global industrial cleaning chemicals market are Arrow Solutions, Megamorph Marketing Pvt. Ltd., Velocity Chemicals Ltd., Graham Chemical, Ashburn Chemical Technologies, Satol Chemicals, Truworth Homes, WVT Industries NV, Sunburst Chemicals, A-One Chemicals and Equipment, Inc., The Dow Chemical Company, Solvay SA, Henkel AG & Co. KGaA., Spartan Chemical Company, Inc., The Water Treatment Products Company.
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