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Global Industrial Institutional Cleaning Chemicals Market Size is projected to reach USD 138.53 by 2031, growing at a CAGR of 8.0%: Straits Research

The availability of plant-based chemicals as a substitute and efficient replacement for petrochemical-based chemicals is anticipated to significantly drive the market for cleaning chemicals.

New York, United States, March 13, 2024 (GLOBE NEWSWIRE) — “Institutional cleaning” pertains to any cleaning task at a non-private residence. This is the definition of the term at its most fundamental level. This labor category includes the upkeep of offices, universities, hospitals, hotels, and restaurants. To maintain their hygienic and sanitary conditions, offices, manufacturing facilities, and institutions such as schools and hospitals use industrial and institutional cleansing chemicals. These compounds are also present in a variety of retail cleaning products.

Cleaning products may contain corrosive or combustible substances without proper precautions. These substances are harmful to a person’s health whether they are inhaled or consumed. In numerous contexts, industrial and institutional cleaning supplies consist of cleaning chemicals. This includes manufacturing facilities, research and development laboratories, pharmaceutical facilities, residential areas, institutions, and workplaces.

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Market Dynamics

Prevalence of Disease Outbreaks Drives the Global Market

HAIs are infections transmitted during a patient’s hospital or other healthcare facility stay that were not detected upon admission. According to the Centers for Disease Control and Prevention (CDC), these infections consist of catheter-associated urinary tract infections (CAUTI), ventilator-associated pneumonia (VAP), surgical site infections (SSI), and central line-associated bloodstream infections (CLABSI). Infection control practices, individuals’ immune status, and numerous infectious agents throughout healthcare facilities are the primary causes of healthcare-associated infections.

Additional factors include immunosuppression, lengthy hospital stays, spells in the intensive care unit, and age. Intensive care units account for approximately 20% of these infections.

Bargaining Power of Suppliers Creates Tremendous Opportunities

According to Straits Research, “The global industrial institutional cleaning chemicals market size was valued at USD 69.3 billion in 2022. It is estimated to reach USD 138.53 billion by 2031, growing at a CAGR of 8.0% during the forecast period (2023–2031).” One factor contributing to the availability of a steady supply of products is the presence of numerous sellers competing for customers’ attention in the market. The rising demand for feedstock in other industrial applications leads to a decrease in the availability of raw materials, which increases the price of procuring raw materials. Godrej and BASF, two of the most important manufacturers of surfactants, are vertically integrating their operations by acquiring biotechnology and plantation companies. The presence of many suppliers also results in low transition costs for suppliers, which in turn increases their negotiating leverage.

Regional Analysis

North America is the most significant global industrial and institutional cleaning chemicals market shareholder and is estimated to exhibit a CAGR of 7.1% over the forecast period. One of the world’s primary centers for manufacturing, North America considerably contributes to annual GDP growth. With global companies like Boeing Co., Microsoft, Valero Energy Corporation, Philipps 66, General Electric Co., Chevron Corporation, General Motors Inc., and others, the United States dominates the region’s manufacturing industry. The region’s expanding industrial capabilities make it possible to use a wide range of cleaning agents to keep warehouses and offices clean.

Furthermore, the manufacturing sector is disproportionately strong in the region because the Innovation Cities Index highlights 10 out of the top 20 cities in North America as global innovation hubs. Due to the need to maintain workplace hygiene and guarantee the facilities’ correct operation, these factors are anticipated to increase demand for industrial cleaning solutions.

Asia-Pacific is anticipated to exhibit a CAGR of 7.9% over the forecast period. The Asia-Pacific region is home to the world’s largest market for industrial and institutional chemicals, with countries such as China, India, and Japan serving as the region’s primary manufacturing pillars. China is currently the world’s leader in manufacturing. The area is home to a diverse range of product manufacturers, including those involved in the processing of food, the fabrication of metal, the production of electronics, the manufacturing of healthcare equipment, the formulation of laundry care products, and many more. The rapidly increasing number of newly established businesses around the region would reflect heavy growth potential for chemical producers to serve the regional market space.

Key Highlights

  • Based on the raw material process, the global industrial and institutional cleaning chemicals market is bifurcated into chloralkali, surfactant, solvents, phosphates, biocides, and other raw material processes. The surfactant segment dominates the global market and is projected to exhibit a CAGR of 7.4% over the forecast period.
  • Based on product, the global industrial and institutional cleaning chemicals market is bifurcated into general-purpose cleaners, disinfectants and sanitizers, laundry care products, vehicle wash products, etc. The general-purpose cleaners segment dominates the global market and is predicted to exhibit a CAGR of 7.4% over the forecast period.
  • Based on end-use, the global industrial institutional cleaning chemicals market is bifurcated into commercial and manufacturing. The Commercial segment owns the highest market share and is predicted to exhibit a CAGR of 7.3% over the forecast period.
  • North America is the most significant global industrial institutional cleaning chemicals market shareholder and is estimated to exhibit a CAGR of 7.1% over the forecast period.

Competitive Players

The key players in the global industrial institutional cleaning chemicals market are Procter & Gamble; BASF SE; Clariant; The Clorox Company, Inc.; Henkel AG & Co. KGaA; 3M; Kimberly-Clark Corporation; Reckitt Benckiser Group plc; Croda International PLC; Albemarle Corporation; Eastman Chemical Corporation; Huntsman International LLC; Stepan Company; Westlake Chemicals Corporation; SOLVAY; Dow; and Sasol.

Market News

  • In October 2023, Sasol Chemicals announced the launch of Carinex and Livinex, two brands that will expand Sasol’s offerings of sustainable products.
  • June 2023, BASF expanded production capacity for alkyl polyglucosides in Cincinnati, Ohio. New site extension in Cincinnati to meet rising local demand for bio-based and biodegradable surfactants.

Global Industrial Institutional Cleaning Chemicals Market: Segmentation

By Raw Material Process

  • Chlor-Alkali
  • Surfactant
  • Solvents
  • Phosphates
  • Biocides
  • Other Raw Material Processes

By Product

  • General Purpose Cleaners
  • Disinfectants and Sanitizers
  • Laundry Care Products
  • Vehicle Wash Products
  • Other Products

By End-Use

By Regions

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • The Middle East and Africa

Get Detailed Market Segmentation @ https://straitsresearch.com/report/industrial-institutional-cleaning-chemicals-market/segmentation

About Straits Research Pvt. Ltd.

Straits Research is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision-makers. Straits Research Pvt. Ltd. provides actionable market research data, especially designed and presented for decision making and ROI.

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Originally published at https://www.einpresswire.com/article/695589341/global-industrial-institutional-cleaning-chemicals-market-size-is-projected-to-reach-usd-138-53-by-2031-growing-at-a-cagr-of-8-0-straits-research

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