In terms of value, the industrial cleaning solvents market is estimated to grow from USD 1.1 billion in 2022 to USD 1.4 billion by 2028, at a CAGR of 4.3%. The fast industrial development in global market and hygiene initiatives at place of work are driving the demand for industrial clenaning solvents. Manufacturers are incorporating technologies to improve the quality of industrial cleaning solvents.

“General & medical device cleaning is expected to be the fastest-growing application of the industrial cleaning solvents market, in terms of value, during the forecast period.”
The general & medical device cleaning application segment is amongs other industrial cleaning solvents applications is estimated to behold the fastest growth in terms of value and volume during the forecast period. This is mainly due to the government regulation and standards regarding the disinfection and cleaning of medical devices in hospitals, industries and commercial offices. Moreover, the industrial cleaning solvets are more suitable for the cleaning in general & medical device cleaning due to their no residues and effectiveness.

“Asia Pacific is largest and projected to be the fastest growing region for industrial cleaning solvents market, in terms of value, during the forecast period
Due to increasing population and improving living standards in countries of Asia Pacific region, the development of industries became fast which simultaneously increased the cleaning demand in this region. Also,the government regulations are not much strict in this region as compared to North America and Europe.

Additionally, the accessibility of raw materials and rapid urbanization will promote demand for industrial cleaning solvents market.

  • By Company Type: Tier 1 - 69%, Tier 2 - 23%, and Tier 3 - 8%
  • By Designation: Director Level - 37%, C-Level - 23%, and Others - 40%
  • By Region: North America - 32%, Europe - 21%, Asia Pacific - 28%, Middle East & Africa - 12%, South America – 7%

The key players profiled in the report include Exxon Mobil Corporation (US), Shell plc (UK), BASF SE (Germany), Dow Inc. (US), and Lyondellbasell Industries N.V. (US) , Evonik Industries AG (Germany), Solvay S.A. (Belgium), Clariant AG (Switzerland), Ashland Inc. (US), and among others.

Research Coverage
This report segments the market for industrial cleaning solvents based on application, end-use industry, and region and provides estimations of volume (kiloton) and value (USD million) for the overall market size across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, services, key strategies, associated with the market for industrial cleaning solvents.

Reasons To Buy this Report
This research report is focused on various levels of analysis ? industry analysis (industry trends), market share analysis of top players, and company profiles, which together provide an overall view on the competitive landscape; emerging and high-growth segments of the industrial cleaning solvents market; high-growth regions; and market drivers, restraints, and opportunities.

The report provides insights on the following pointers:

  • Analysis of key drivers (growing need from various end-use industries for cleaning applications, fast industrial development, and hygiene initiatives at place of work), restraints (strict government and ecological regulations), opportunites (mounting demand for bio-derived and green solvents and progressive cleaning technologies), challenges (harmfulness of some solvents, decreased production, and instability in prices of raw materials) influencing the growth of industrial cleaning solvents market
  • Market Penetration: Comprehensive information on industrial cleaning solvents offered by top players in the global market
  • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the industrial cleaning solvents market
  • Market Development: Comprehensive information about lucrative emerging markets ? the report analyzes the markets for industrial cleaning solvents across regions
  • Market Diversification: Exhaustive information about new products, untapped regions, and recent developments in the global industrial cleaning solvents market
  • Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the industrial cleaning solvents market