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The industrial and institutional cleaning chemicals market share is expected to increase by USD 19.28 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 6.49%.

This industrial and institutional cleaning chemicals market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers industrial and institutional cleaning chemicals market segmentation by end-user (commercial, institutional and governmental, and manufacturing) and geography (North America, Europe, APAC, South America, and MEA). The industrial and institutional cleaning chemicals market report also offers information on several market vendors, including 3M Co., Akzo Nobel NV, Albemarle Corp., BASF SE, Clariant International Ltd., Croda International Plc, Diversey Inc., Eastman Chemical Co., Henkel AG and Co. KGaA, and Huntsman Corp. among others.

What will the Industrial and Institutional Cleaning Chemicals Market Size be During the Forecast Period?

Industrial and Institutional Cleaning Chemicals Market: Key Drivers, Trends, and Challenges

The rising awareness about workplace hygiene is notably driving the industrial and institutional cleaning chemicals market growth, although factors such as growing adoption of chemical-free cleaning may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the industrial and institutional cleaning chemicals industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Industrial and Institutional Cleaning Chemicals Market Driver

One of the key factors driving growth in the industrial and institutional cleaning chemicals market is the rising awareness about workplace hygiene. The rising health concerns among the population are leading to increased awareness about cleanliness at the workplace and other industrial installations. The health and wellbeing of an individual are directly related to the surroundings and the places he or she may visit. Thus, the maintenance of workplaces in a clean state is highly important. Industries such as metal, paint, automobile, textile, and paper are the major end-users of industrial cleaning chemicals. These industries use cleaning chemicals to maintain the cleanliness of the manufacturing areas and eliminate hazardous chemicals produced during the manufacturing process. The increasing workplace hygiene awareness is resulting in a rise in the demand for industrial and institutional cleaning equipment and products, including industrial and institutional cleaning chemicals. This, in turn, is driving the growth of the market.

Key Industrial and Institutional Cleaning Chemicals Market Trend

The increase in demand for fragranced cleaning products is another factor supporting the industrial and institutional cleaning chemicals market share growth. The fragrance is emerging as one of the key attributes in industrial and institutional cleaning products. The growing demand for fragranced industrial and institutional cleaning chemicals is gaining traction across the globe. For product formulators, the fragrance is a powerful way to connect to end-users. Owing to the growing demand for fragranced cleaning products, fragrance producers are also increasing their product offerings of industrial and institutional cleaning chemicals. The fragrance is incorporated in industrial and institutional products, janitorial and housekeeping products, cleaning maintenance and laundry products, and odor controls and air fresheners. Therefore, the increase in the demand for fragranced cleaning products will drive the growth of the global industrial and institutional cleaning chemicals market.

Key Industrial and Institutional Cleaning Chemicals Market Challenge

The growing adoption of chemical-free cleaning will be a major challenge for the industrial and institutional cleaning chemicals market during the forecast period. Due to the adverse health impact of cleaning chemicals on the health of workers and the environment, the demand for chemical-free products for cleaning applications is increasing. Chemical-free products are generally based on a plant extract, antimicrobial, microbial, and enzyme technology. These products offer a sustainable cleaning solution to end-users by turning natural resources and ingredients into organic cleaning products, which are eco-friendly.  Several companies are offering products for chemical-free cleaning. The growing adoption of chemical-free cleaning will impact the demand for cleaning chemicals. This, in turn, will impact the growth of the global industrial and institutional cleaning chemicals market.

This industrial and institutional cleaning chemicals market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

This statistical study of the industrial and institutional cleaning chemicals market encompasses successful business strategies deployed by the key vendors. The industrial and institutional cleaning chemicals market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The industrial and institutional cleaning chemicals market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Industrial and Institutional Cleaning Chemicals Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the industrial and institutional cleaning chemicals market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

34% of the market’s growth will originate from North America during the forecast period. US and Canada are the key markets for industrial and institutional cleaning chemicals in North America. Market growth in this region will be faster than the growth of the market in the European, MEA, and South American regions.

The stable growth in industrial activities across sectors such as manufacturing, construction, and healthcare will facilitate the industrial and institutional cleaning chemicals market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The rapid spread of COVID-19 impacted major industries in the region in 2020 and in early 2021. The COVID-19 pandemic in 2020 affected the economic activities in North America. The governments of various countries in the region were compelled to impose nationwide lockdowns to contain the spread of COVID-19. However, in 2021, large-scale vaccination drives in countries such as the US and Canada reduced the number of daily COVID-19 cases in the region. Furthermore, in January 2021, the US president announced a COVID-19 stimulus package of $1.9 billion to overcome the adverse effect of the pandemic on the US economy. Such factors will drive the growth of the regional market during the forecast period since industries that are potential users of industrial and institutional cleaning chemicals have resumed their operations completely and are expected to exhibit significant growth during the forecast period.

What are the Revenue-generating End-user Segments in the Industrial and Institutional Cleaning Chemicals Market?

The industrial and institutional cleaning chemicals market share growth by the commercial segment will be significant during the forecast period. Factors such as an increase in awareness regarding workplace hygiene and growth in commercial office spaces are driving the demand for industrial and institutional cleaning chemicals. The proliferation of chronic diseases, the increased awareness, and the need for high-quality care from healthcare providers will also drive the growth of the segment.

This report provides an accurate prediction of the contribution of all the segments to the growth of the industrial and institutional cleaning chemicals market size and actionable market insights on post COVID-19 impact on each segment.  - technavio.com-