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Industrial and Institutional Cleaning Chemicals Market expected at a CAGR of ~ 5.2% & US$ 40.13 Bn during the forecast period 2016–2026

12-21-2021 05:51 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Future Market Insights

Industrial and Institutional Cleaning Chemicals Market

Industrial and Institutional Cleaning Chemicals Market

Future Market Insights delivers key insights on the global industrial and institutional cleaning chemicals market in its latest report titled ‘Industrial and Institutional Cleaning Chemicals Market: Global Industry Analysis and Opportunity Assessment, 2016-2026’.

Global sales revenue of industrial and institutional cleaning chemicals is projected to be valued at US$ 40.13 Bn by 2016, witnessing a Y-o-Y growth of 3.9% over 2015. The APEJ regional market is expected to register high growth followed by the Latin America industrial and institutional cleaning chemicals market.

The modern healthcare sector uses various devices and procedures to treat patients. The devices used in medical procedures are prone to serious infections. With the number of patients increasing in hospitals, the associated healthcare infections have emerged as a severe health issue in the past few years, posing a big threat to patient safety. It is estimated that over 20%-30% of these healthcare related infections can be prevented by intensive hygiene and control programs. Moreover, National Action Plan to Prevent Health Care-Associated Infections set by the U.S. Department of Health and Human Services (HHS) is also focussing on decreasing the number of such infections by 2020. Thus, due to continuation of promotional campaigns designed to increase awareness among consumers regarding the advantages of cleaning products, the cleaning chemicals demand is projected to increase over the projected period.  

Demand for meat products is increasing, mainly due to the rapid growth in population, westernisation of economies and changing food preferences. This increasing demand, in turn, is likely to lead to a rise in cold storage capacities and the need for a high level of hygiene. Combination of all these factors is projected to drive the consumption of industrial and institutional cleaning chemicals during the assessed period.

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Increase in healthcare associated infections coupled with increasing hygiene awareness among consumers is expected to drive the market

Threat of infectious diseases has made consumers conscious about hygiene and this has resulted in an overall increase in health expenditure. Growing awareness among consumers about infectious diseases caused by pathogens, bacteria and viruses is expected to drive the demand for cleaning chemicals during the forecast period. Environmental cleaning plays a key role in preventing healthcare associated infections (HAIs).

Exponential growth in the food service industry, which includes food retail, full and limited service restaurants and bars and taverns, is expected to influence major players and encourage them to establish new facilities and outlets. Increase in food and beverage production along with expansion of cold chain capacities to minimize food loss at production and distribution levels are some of the major factors anticipated to fuel demand for cleaning chemicals over the forecast period.

However, many current cleaning practices in healthcare affect human health and environment negatively. Maintaining the cleanliness of the healthcare environment and minimizing the concentration level of pathogens is the best way to prevent healthcare-associated infections (HAIs), which pose a serious threat to patient safety and contribute to an increase in healthcare costs. In line with this goal, several organisations and agencies have launched initiatives geared to spike the trend in green cleaning, which mainly involves replacing toxic cleaning supplies to protect workers and environment.

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Segmentation highlights

Based on a primary source, the global industrial and institutional cleaning chemicals market can be segmented by application as commercial, Industrial and domestic. Industrial application is further classified as hand hygiene chemicals, building care chemicals, and others. The Commercial and domestic application segments are further bifurcated as laundry care chemicals, building care chemicals, kitchen care chemicals, hand hygiene chemicals, and others. Each sub-segment can be further categorised based on chemicals as citric acid, lactic acid, formic acid, phosphoric acid, acetic acid, hydrochloric acid, chlor alkalis, surfactants, chelating agents, phosphates, biocides, and solvents.

The commercial segment will hold significant share in the global industrial and institutional cleaning chemicals market, registering a significantly high CAGR in terms of value during the period of assessment. The segment is estimated to create incremental opportunity of US$ 12.33 Bn during projected period.

Laundry care chemicals sub-segment in industrial application segment is estimated to exhibit a CAGR of 5.9% in terms of value during the studied period. The segment is anticipated to create incremental opportunity of US$ 5,052.6 Mn which is approximately 34% of the total incremental opportunity. 

Regional market projections

The global industrial and institutional cleaning chemicals market is segmented on the basis of region as North America, Latin America, Western Europe, Eastern Europe, Asia Pacific (excluding Japan), Japan and Middle East and Africa. APEJ is expected to register relatively high CAGR in terms of value during the assessed period. China and India are highly focussed on increasing hygiene awareness. Western Europe and North America are estimated to collectively account for a share of market value of over 51.5% by 2016 end.  

Vendor insights

The major companies in the industrial and institutional cleaning chemicals market include Procter & Gamble Co., Huntsman Corporation, The Dow Chemical Company, BASF SE, Akzo Nobel N.V., Lonza Group Limited, Henkel AG & Co. KGaA, Betco Corporation, Solvay SA, Eastman Chemical Companyand Croda International Plc. These players have adopted a strategy of increasing their production capacities across the world. 

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Market segmentation

To understand and assess opportunities in the global industrial and institutional cleaning chemicals market, we have bifurcated the report into two sections based on market segmentation as under:

By Application

Industrial
Hand hygiene chemicals
Building care chemicals
Others
Commercial
Domestic
Kitchen care chemicals
Building care chemicals
Hand hygiene chemicals
Laundry Care chemicals
Others

By Region

North America
Latin America
Western Europe
Eastern Europe
Asia Pacific excluding Japan (APEJ)
Middle East & Africa (MEA)
Japan

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About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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