May 18, 2024
Industrial and Institutional Cleaning Chemicals Market

Industrial And Institutional Cleaning Chemicals Market Set To Grow At A Robust Pace Due To Rising Awareness Regarding Hygiene

The industrial and institutional cleaning chemicals market consists of a wide range of products that aid in cleaning surfaces across industries and institutions. Some of the commonly used cleaning chemicals include surfactants, solvents, bleaches, disinfectants and general cleaning chemicals. Surfactants help in reducing the surface tension of water and aid the removal of dirt, grease and stains. Solvents dissolve oils and grease. Bleaches are oxidizing agents that remove stains through chemical reactions. Disinfectants are antimicrobial agents that reduce or eliminate harmful microorganisms. General cleaning chemicals comprise of a variety of acids, bases and other specialized chemicals used for specific cleaning applications. Proper cleaning ensures hygienic conditions and protection from illnesses in industries and institutions like hospitals, schools, offices, hotels etc.

The Global industrial and institutional cleaning chemicals market is estimated to be valued at US$ 62.64 Bn  in 2024 and is expected to exhibit a CAGR of 18% over the forecast period 2024 to 2030.

Key Takeaways

Key players operating in the industrial and institutional cleaning chemicals are Stem Cyte, Inc., CRYO-CELL INTERNATIONAL, INC., ViaCord, Cord Blood Registry, SmartCells, Inc., LifeCell International Pvt. Ltd., Cryoviva Biotech Pvt. Ltd., Cryo Stemcell, Reliance Life Sciences, and Transcell Biolife Pvt. Ltd. Large players are focusing on expanding their production capacities and product portfolios through mergers and acquisitions to strengthen their market presence.

The rising awareness regarding hygiene and cleanliness along with growth of end use industries offer significant opportunities in the Global Industrial And Institutional Cleaning Chemicals Market Size. Cleaning chemical companies are investing in R&D to develop bio-based and environment friendly products to capitalize on sustainability trends.

The global industrial and institutional cleaning chemicals market is expected to witness robust expansion in Asia Pacific region over the forecast period supported by rapid industrialization and growing focus on hygienic cleaning practices in countries like China and India.

Market drivers

The industrial and institutional cleaning chemicals market is estimated to witness high growth owing to rising awareness regarding hygiene. The ongoing COVID-19 pandemic has further emphasized on the need for proper sanitization and cleaning practices across all sectors. Various government initiatives are being undertaken to promote cleanliness and hygienic conditions in public places. This is expected to drive the demand for industrial and institutional cleaning chemicals during the forecast period.

PEST Analysis
Political: The industrial and institutional cleaning chemicals market is affected by various regulations regarding the use of chemicals and hazardous substances. Stringent regulations related to workers’ and environmental safety pose some restrictions on market growth.
Economic: Factors such as increasing disposable income, rising number of commercial spaces like hospitals, schools, hotels influence the demand for cleaning chemicals. High growth in construction and hospitality industries fuels market expansion.
Social: Improving hygiene standards and health consciousness in society promotes the adoption of cleaning chemicals. Increasing importance given to cleanliness and sanitization especially after the Covid-19 pandemic drives the market.
Technological: Advancements in cleaning formulations help manufacturers develop eco-friendly, non-toxic products. Use of digital technologies aids in inventory management and supply chain of cleaning chemicals.

The geographical regions where the industrial and institutional cleaning chemicals market is concentrated in terms of value are North America and Europe. North America dominates the market with a large share owing to stringent hygiene regulations and growing commercial construction activities. Major players establishing production facilities also contributes to market concentration in North America. Europe holds the second position influenced by well-established healthcare and hospitality industries demanding cleaning services on a regular basis.

The Asia Pacific region is emerging as the fastest growing market for industrial and institutional cleaning chemicals. Factors fueling market growth include increasing commercial infrastructure, rising consumer awareness, and growing disposable income in developing countries. Rapid industrialization and urbanization along with expanding middle-class population seeking quality cleaning services further support market expansion in Asia Pacific. Improvement in economic conditions allows corporates to invest more on cleaning and hygiene maintenance propelling regional market growth at a significant rate during the forecast period.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it