The global industrial cleaning market size is projected to reach USD 58.2 billion by 2024 from USD 46.8 billion in 2019, at a CAGR of 4.5 per cent. The growth in the manufacturing and healthcare industries, coupled with the awareness regarding hygiene and cleanliness at the workplace, is the major factor.
Cleaning plays a very important role in the growth and performance in industries such as healthcare, hospitality, and retail. All these industries are projected to grow at a positive rate, which is also expected to drive the demand for industrial cleaning chemicals in these applications.
Drivers of the market growth include:
- Workplace hygiene initiatives
- The healthcare expenditure growth rate has also been positive over the last five years, and it accounted for 10 per cent of the global GDP in 2018.
- According to the World Travel & Tourism Council, the global tourism industry recorded a growth rate of 3.9 per cent in 2018, which is driving the market for industrial cleaning in the hospitality industry.
- Domestic and foreign investments in key sectors such as energy, manufacturing, and construction
Highlights in the industrial cleaning market report include:
- General cleaners – include cleaning chemicals used for floor care, hard surface care, and carpet care – are estimated to be the largest product type of the industrial cleaning market during the forecast period;
- Surfactants – surface-active agents – accounted for the largest share of the global industrial cleaning market in 2018;
- Manufacturing and commercial offices are estimated to be the largest application of the industrial cleaning market during the forecast period;
- India, Australia, the U.K., the U.S., and Brazil offer lucrative growth opportunities.
The key industrial cleaning market players profiled in the report include Diversey Inc. (US), Evonik Industries AG (Germany), The Dow Chemical Company (US), BASF SE (Germany), Clariant (Switzerland), Stepan Company (US), Ecolab (US), Solvay (Belgium), Spartan Chemical Company (US), and Croda International Plc. (U.K.).