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Industrial Degreaser Market Growth, New Developments, Trends And Forecast 2033
Industrial Degreaser Market Growth
Industrial Degreaser Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $26.12 billion In 2028 At A CAGR Of 5.1%
The industrial degreaser market size has grown strongly in recent years. It will grow from $20.17 billion in 2023 to $21.43 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to industry-specific customization, market demand for water-based solutions, focus on regulatory compliance, bio-based and solvent-free solutions, environmental regulations.
The industrial degreaser market size is expected to see strong growth in the next few years. It will grow to $26.12 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to continued regulatory emphasis, growing sustainability awareness, enhanced packaging sustainability, market expansion of water-based solutions, increasing demand for customized solutions. Major trends in the forecast period include bio-based and solvent-free solutions, advanced technology integration, water-based degreasers, packaging innovations, technological advancements.
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Industrial Degreaser Market Major Segments
The industrial degreaser market covered in this report is segmented -
1) By Type : Water-Based, Solvent BasedBy Grade
2) By Liquid-Based, Petroleum-Based, Bio-Based, Other Grades
3) By Application: Automative, Manufacturing, Pharmaceutical, Aviation, Other Applications
Key Driver - Rise In Automotive Production To Boost Degreaser Market
The rising automotive production is expected to propel the growth of the industrial degreaser market going forward. Automotive production refers to manufacturing motor vehicles, including passenger automobiles, light trucks, and commercial vehicles. This involves creating the vehicle's concept, design, and specifications, including its appearance, performance, and safety features. Industrial degreasers in the automotive industry facilitate the cleaning and maintenance of vehicle parts. The automotive sector widely adopts degreasers for cleaning and maintaining various components of vehicles. For instance, in May 2023, according to the European Automobile Manufacturers' Association (ACEA) a lobbying and standards group of the automobile industry, in 2022, 85.4 million motor vehicles were produced worldwide, an increase of 5.7% compared to 2021. Therefore, the rising automotive production is driving the growth of the industrial degreaser market.
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Prominent Trend - Innovative Solutions Redefining The Industrial Degreaser Market With High-Purity Hydrocarbons And Alcohol Degreasers
Major companies operating in the industrial degreaser market are developing innovative products such as, high-purity hydrocarbons and alcohol degreasers to better serve customer needs. High-purity hydrocarbons and alcohol degreaser refers to using highly purified solvents for vital cleaning applications. These solvents are frequently used in degreasers to remove grease, lubricants, cutting fluids, corrosion inhibitors, and other pollutants commonly found in industrial applications. For instance, in July 2023, Molyslip, a UK-based manufacturer of specialist lubricants, launched SLIPCLEAN RD. This unique cleaner and degreaser is formulated to remove various industrial soils and impurities, including oil, grease, carbon deposits, inks, and semi-cured adhesives. SLIPCLEAN RD is created with high-quality hydrocarbons and alcohol to ensure maximum cleaning power while leaving no residue. The product's rapid evaporation rate ensures quick drying, resulting in immaculate surfaces.
Industrial Degreaser Market Players
Major companies operating in the industrial degreaser market report are BASF SE, The Dow Chemical Company, 3M, Henkel AG & Co. KGaA, The Sherwin-Williams Company, Evonik Industries, Emerson Industrial Automation, Ecolab Inc., DuPont de Nemours, Inc., Akzo Nobel N.V., Eastman Chemical Company, Clariant AG, Diversey, Inc., Stepan Company, Quaker Chemical Corporation, Superior Industries Inc., Valvoline Inc., RUST-OLEUM, A.W. Chesterton Company, Castrol, Aervoe Industries, Inc., Sunburst Chemicals, Inc., NCH Corporation, QualiChem, Inc., PETROFER Chemie H. R. Fischer GmbH + Co. KG
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Largest And Fastest Growing Region In The Market
North America was the largest region in the industrial degreaser market in 2023. The regions covered in the industrial degreaser market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Industrial Degreaser Market Report Structure
3. Industrial Degreaser Market Trends And Strategies
4. Industrial Degreaser Market - Macro Economic Scenario
5. Industrial Degreaser Market Size And Growth
…..
27. Industrial Degreaser Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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