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Industrial Degreaser Market Size, Share Analysis, Growth Trends And Global Forecast To 2033
Industrial Degreaser Market
As per the report, 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 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%.
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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.
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.
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
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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
Contents of the report:
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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