Impact of COVID-19 on Economy, Industry and Company:
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in significant demand & supply gap, production delay and weak consumer demand of end products across industries. At Bizizz Market Research, our analyst has done extensive research across industries and identify various methodologies which would assist C-Level executive to counter this ongoing threat and make informed business decision.
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"Global Industrial Cleaners Market was Valued at US$ 42.2 Bn in 2019 and it is Expected to Reach More than US$ XX Bn by 2028, Likely to Grow with the CAGR of 4.4% During the Forecast Period."
Growing inclination towards cleanliness and rising need for disinfection is anticipated to proliferate the demand for disinfectant products and other industrial cleaners across various applications. The fast-growing middle-aged population has resulted in an increase in the number of incidences of chronic illnesses and health problems. The increasing number of infectious and transmissible diseases has made disinfection and other industrial cleaners important in industries. Additionally, government initiatives emphasizing on disinfection and cleanliness are estimated to further fuel the growth of the industrial cleaners market.
Accelerating demand from the healthcare industry, rising demand from the food industry owing to foodborne illness, and workplace hygiene initiatives are factors driving the growth of the market. Owing to, the benefits, functions, and applications, industrial cleaners are extensively used across various industries including petrochemical, food & beverage, oil & gas, chemical, sugar, and textile among others. Companies are taking various initiatives to keep the work area clean. Thus bolstering the growth of the industrial cleaners market.
The global industrial cleaners market on the basis of product type segment is bifurcated into acidic cleaners, optical effect products & stabilizers, surfactants, de-foaming agents, disinfectants, degreasers, deodorizers, refinery specific cleaners (decontaminants and spill cleanup & others). The geography segment is analyzed into Asia-pacific, North America, Latin America, Europe, Middle East and Africa (MEA).
As Per Product Type, The Degreasers Segment Dominates The Global Industrial Cleaners Market.
By fillers, silica is expected to witness the highest growth in the Industrial Cleaners market across the globe. It is expected to hold XX% of the total market. Based on product type, the degreasers segment is dominating and anticipated to remain dominant, accounting for a share of more than 30% in the global industrial cleaners market. This segment is estimated to grow register at a CAGR of XX% during the forecast period 2019 to 2025. Degreasers find their application in many machineries and in equipment to remove impurities such as grease and others. Owing to the rising adoption of the product in various end-use industries including oil & gas and chemical among others.
In contrast, the surfactants segment is estimated to rise with the highest CAGR and is expected to overtake the degreasers segment. This is due to the wide usage of the product in everyday cleaning products and high performance among others. Thus bolstering the demand of the surfactants in the global industrial cleaners market.
By End-Use, The Manufacturing Segment Dominates And Expected To Remain Dominant In The Global Industrial Cleaners Market.
Based on end-use, the market is bifurcated into oil, gas & petrochemicals, power generation, chemicals, metallurgy, food & beverages, paper & print, sugar, textiles, others (Manufacturing). The other (manufacturing) and the oil and gas segment are expected to dominate the market. Owing to the increased manufacturing activities globally and the presence of a large number of manufacturers. Recovery in prices of oil & gas is subsidizing the growth of the industry, thereby proliferating the demand for industrial cleaners in this segment. The other (manufacturing) segment includes automobile, and consumer goods among others, which are undergoing exponential growth, due to rising urbanization and industrialization across growing economies.
Asia Pacific Region To Dominate The Overall Industrial Cleaners Market In Terms Of Revenue Share.
Asia Pacific region is the largest market for industrial cleaning trailed by North America and Europe. Owing to the rapid industrialization in countries such as China and India among others has been fueling the growth in this region and is expected to remain consistent throughout the forecast years. The market is expected to register a CAGR of XX% during the forecast period. The market for industrial cleaners is expected to account for a share of more than 25% in the North America region.
BASF SE, Huntsman Corporation, The Dow Chemical Company, Evonik Industries AG, Mitsubishi Chemical Holdings Corporation, Akzo Nobel N.V., 3M Company, Quaker Chemical Corporation, Kao Chemicals GmbH, and Neos Company Limited among others.
Segmentation of Global Industrial Cleaners Market
Industrial Cleaners Market by Product Type
- Acidic Cleaners
- Optical Effect Products & Stabilizers
- De-foaming Agents
- Refinery Specific Cleaners
- Spill Cleanup & Others
Industrial Cleaners Market by End-use
- Oil, Gas & Petrochemicals
- Power Generation
- Food & Beverages
- Paper & Print
- Others (Manufacturing)
Industrial Cleaners Market by Region
- North America
- South America
- Middle East & Africa