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The global industrial and institutional cleaning chemicals market is estimated to witness a healthy growth, at an estimated CAGR of over 5.5%, over the forecast period. The major factors driving the growth of the market studied are rising demand from the healthcare industry, and increasing demand from the food industry, owing to food-borne illness. However, health hazards caused by cleaning chemicals serve as a restraint for the studied market.
- The general-purpose cleaners segment dominated the market. It is likely to grow during the forecast period, owing to increased awareness about the importance of living in a hygienic environment.
- The emerging use of bio-based cleaning chemicals is likely to provide opportunities for the market studied, during the forecast period.
- North America dominated the global market, with high awareness among the population, and collective efforts to maintain cleanliness and hygiene.
Key Market Trends
Increasing Demand for Laundry Care Products
- Laundry care products mainly contain surfactants and solvents. These products are specially formulated for both industrial and institutional uses.
- The segregation depends on the type of dirt and stains. The formulation for industrial uses is added with hydrocarbons to remove oil and grease.
- These products are selected based on their performance on fabrics and its color. The harmful effects of these chemicals are restraining the growth of the market.
- There are a lot of companies that provide a range of laundry care products in the market. Major players are Henkel, Dow, BASF SE, Nowchem, etc.
- The laundry detergents market segment in the industrial and institutional cleaning chemicals market accounts for a larger share in Western Europe and China than in North America or Japan, as Europeans more often live in apartments and use commercial laundries, and China has a large textile industry and a significant market for washing of workplace uniforms.
- The North American and Japanese markets are saturating due to the government regulations on the use of various chemicals.
- The apparel market in global arena is expected to grow based on the performance of global apparel market players in previous years. The compound growth rate of this huge market is expected to be around 4% in the coming years, which could have a deep impact on the industrial and institutional cleaning chemicals market in the near future.
North American Region to Dominate the Market
- The North American region dominated the global market share. The increasing hospital construction and high awareness among the population, regarding the importance of hygienic environment, are some of the factors driving the growth of the industrial and institutional cleaning chemicals market in the region.
- For instance, Georgia approved a USD 1.5 billion hospital project, for Children’s Healthcare of Atlanta, which includes replacing the 325-bed children’s hospital in Atlanta with a larger one containing 446 beds. The construction of this new hospital is expected to start in early 2020.
- The growth of the United States industrial cleaning sector, coupled with government initiatives and regulatory policies, are anticipated to support the market growth in the near future as well.
- Increasing pollution and public concerns about cleaning and hygiene maintenance on public places are giving a boost to the industrial and institutional cleaning chemicals market, especially in the industrial cleaning segment due to rising government concerns related to clean operations and energy efficiency in industrial sector.
- Hence, with the completion of such construction projects in the region, the demand for industrial and institutional cleaning chemicals is projected to increase during the forecast period.
The industrial and institutional cleaning chemicals market is consolidated in nature, with few players accounting for a significant share of the market demand. Some of the major players in the market include Procter & Gamble, Henkel AG & Co. KGaA, BASF SE, Clariant, and 3M, among others.
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