The global Industrial and Institutional Cleaning Chemicals market is expected to surpass US$ 77.84 Billion by 2030, exhibiting a CAGR of 5.2% during the forecast period (2023-2030). For instance, the World Health Organization (WHO) encourages the use of household disinfectants. Sanitizers are increasingly used in cleaning products to control the spread of infectious diseases, resulting in a huge demand for industrial and institutional cleaning chemicals in today's market.
Industrial & institutional cleaning products are cleaning chemicals that are widely used for routine cleaning across various industries such as warehouses, research & development laboratories, pharmaceutical, residential areas, institutes, offices, and other industries. They can be classified into building care chemicals, kitchen care chemicals, laundry care chemicals, and hand hygiene chemicals.
Global Industrial and Institutional Cleaning Chemicals market is estimated to account for around US$ 51.68 Billions in terms of value in the year 2022 and it is predicted to grow at a CAGR of 5.2% during the forecast period (2023-2030)
Driver
Growth in the food service chains and food processing industry which comprises restaurants, food retail, and bars & taverns is expected to foster the market growth of industrial & institutional cleaning chemicals. An increase in the production of food & beverage coupled with the expansion of cold chain capacities is further anticipated to accelerate the market growth of industrial & institutional cleaning chemicals over the forecast timeframe.
Market Opportunities
Development of bio-based cleaning chemicals by the manufacturer to provide enormous growth opportunities to the market of the industrial & institutional cleaning chemicals. For instance, in January 2019, Nouryon (formerly AkzoNobel Specialty Chemicals) has launched a more sustainable, water-miscible defoamer, Ethylan TB345, that will help household and industrial cleaning formulators meet growing customer need for environmentally safe and cost-effective products that do not compromise on performance.
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Restraint
Disease caused by exposure to cleaning chemicals is expected to hinder the market growth of industrial & institutional cleaning chemicals. Cancer, asthma, dermatitis, endocrine, and neurologic discrepancies, and other respiratory disorders are some of the diseases caused by cleaning chemicals.
Market Trends
Growing demand for safe and environmentally friendly cleaning chemicals for the building care chemicals segment is expected to augment the market growth. The market growth is also attributed to growth in the construction industry coupled with the increasing adoption of safe and advanced chemicals across the construction industry.
