Pune, India, Feb. 08, 2021 (GLOBE NEWSWIRE) -- The global industrial and institutional cleaning chemicals market size is expected to reach USD 68.16 billion by 2027, exhibiting a CAGR of 4.7% during the forecast period. The stringent food safety standards implemented by the authorities can have a tremendous impact on the global market, states Fortune Business Insights, in a report, titled “Industrial and Institutional Cleaning Chemicals Market Size, Share & COVID-19 Impact Analysis, By Product Type (General Purpose Cleaners, Floor Care, Warewashing, Disinfectant & Sanitizer, Laundry Care, and Others), By End-User (Commercial, Manufacturing, Institutional & Government) and Regional Forecast, 2020-2027.” The market size stood at USD 47.25 billion in 2019.
The emergence of coronavirus has caused the world’s economy to tumble down. We understand that this health emergency has negatively impacted various sectors across the globe. Rising support from governments and several companies can help in the fight against this highly infectious virus. There are some industries that are struggling, and some are thriving. More or less, nearly every sector is estimated to be impacted by this pandemic.
The industrial and institutional cleaning chemicals market accentuates a profound study of the industry, while shedding light on vital facts and figures. It also offers insightful data about dominant regions, policies adopted by governments and companies, besides providing a brief overview of the market with future insights. The report also encompasses critical factors exhibiting growth. In addition, the COVID-19 impact is also covered in the report.
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List of the Leading Companies Profiled in the Global Industrial and Institutional Cleaning Chemicals Market are:
- The Procter & Gamble Company (U.S.)
- The Clorox Company (U.S.)
- Kimberly-Clark Corporation (U.S.)
- Ecolab (U.S.)
- Diversey Inc. (U.S.)
- Dow (U.S.)
- Graham Chemical Corporation (U.S.)
- Croda International plc (UK)
- BASF SE (Germany)
- Brenntag (Germany)
- Clariant SA (Switzerland)
- Solvay SA (Belgium)
- Other Players
Key Market Driver:
Rising Consumption of Cleaning Chemicals to Bolster Growth
The heavy demand for cleaning chemicals for commercial use will have a tremendous impact on the global market during the forecast period. The increasing emphasis on health and hygiene will enhance the application of cleaning chemicals in various industries, which, in turn, will augur well for the market. The growing demand from the hospitality industry, including restaurants and hotels, to offer world-class services to its consumers, will further incite the market's development in the forthcoming years. Moreover, the increasing disposable income coupled with high consumer spending on tourism activities will subsequently spur opportunities for the market. Besides, the rising sanitation standards at the workplace, especially in developed nations, will further aid expansion of the market. In addition, the growing number of initiatives associated with cleanliness will boost the industrial and institutional cleaning chemicals market growth.
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Increasing Cognizance About Sanitation to Uplift Market Amid Coronavirus
The growing awareness among consumers regarding sanitation and cleanliness, particularly to curb the spread of viruses will fuel demand for cleaning chemicals. The need for chemicals in industrial and manufacturing sectors to maintain hygiene will positively impact the market during coronavirus. Hospitals' necessary precautions to dampen the virus transmission have resulted in a significant rise in cleaning chemicals. However, lockdown and supply chain disruption has resulted in reduced manufacturing capacities, which, in turn, has retarded the growth of the market during COVID-19 pandemic.
Regional Analysis:
Heavy Demand from Hospitality Industry to Influence Growth in North America
The market size in North America is expected to experience a rapid growth rate owing to the inflated demand from the hospitality industry. The growing demand for disinfection and sanitation products due to COVID-19 outbreak has increased the consumption of the industrial and institutional cleaning chemicals in North America. The market in Asia Pacific is likely to proliferate during the forecast period due to the heavy demand from healthcare, retail, food service, and manufacturing industries. Europe is expected to rise rapidly owing to the rising demand from the food & beverage industry. Stringent hygiene and sanitation standards at manufacturing facilities, and workplace can create opportunities for the market in the region. Latin America and the Middle East & Africa are expected to experience a considerable growth rate due to the growing knowledge about preventing hospital-acquired infections in the region.
Key Development:
18 November, 2020: Kimberly-Clark Foundation introduced the 'Toilets Change Lives' program to support sanitation solutions in 10 countries during the pandemic outbreak.
Browse Detailed Summary of Research Report with TOC:
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Key Market Trends in the Global Market
- Key Developments: Mergers, Acquisition, Partnership, etc.
- Latest Technological Advancement
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Price Trend Analysis
- Qualitative Insights Impact of COVID 19 on Global Industrial and Institutional Cleaning Chemicals Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
- Global Industrial and Institutional Cleaning Chemicals Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Product Type
- General Purpose Cleaners
- Floor Care
- Warewashing
- Disinfectant & Sanitizer
- Laundry Care
- Others
- By End-User
- Commercial
- Manufacturing
- Insitutional & Government
- By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- By Product Type
TOC Continued…!
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