Industrial and Institutional Cleaning Chemicals Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)


Posted April 23, 2021 by statzyreports

The Global Industrial and Institutional Cleaning Chemicals Market size was valued at over USD 50 billion in 2020 and the market is projected to register a CAGR of around 7% during the forecast period (2021-2026).
 
The Global Industrial and Institutional Cleaning Chemicals Market size was valued at over USD 50 billion in 2020 and the market is projected to register a CAGR of around 7% during the forecast period (2021-2026). The market was negatively impacted by COVID-19 in 2020. Considering the pandemic situation, various industrial and institutional sites were closed along with a temporary halt on the new construction during the government-imposed lockdown, thus led to a decrease in the consumption of cleaning chemicals used at these sites, which in turn negatively impacts the market demand for industrial and institutional cleaning chemicals. However, on the other hand, considering the post-pandemic scenario, as the lockdowns were lifted, the demand for these cleaning chemicals has increased significantly, owing to the increase in awareness regarding better hygiene and cleanliness. Furthermore, the usage of sanitizers has increased during the current situation, which is stimulating the demand for the industrial and institutional cleaning chemicals market.

- Over the short term, increasing demand for cleaning chemicals from the healthcare and food industry is expected to drive the market growth
- On the flipside, health hazards caused by cleaning chemicals are restraining the market growth.
- The general-purpose cleaners segment dominated the market. It is likely to grow during the forecast period, owing to increased awareness about the importance of living in a hygienic environment.
- The emerging use of bio-based cleaning chemicals is likely to provide opportunities for the market studied, during the forecast period.

- North America dominated the global market, with high awareness among the population, and collective efforts to maintain cleanliness and hygiene.

Key Market Trends

Increasing Demand for General Purpose Cleaning Products

- The general purpose cleaning products is the largest segment in the industrial and institutional cleaning chemicals market in terms of product type. The products in this segment are mainly used as ware-wash, floor cleaners, etc. at hospitals, hotels, and offices.

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- The awareness of contagious diseases is one of the driving factors of these products. However, the harmful side-effects associated with these chemicals are restraining the growth of the market.
- The majority of the chemicals used in these products are biocides and surfactants.

- The United States of America is the leading market shareholder of this segment, followed by the Western European countries. Asia-Pacific region is showing steady growth owing to its growing population.
- Additionally, due to the COVID-19 pandemic, the government is actively participating in promoting the usage of cleaning chemicals as a preventive measure. Despite the lockdown, the cleaning chemical manufacturing plants have been operating across the country, to meet the increasing demand during this pandemic.

- Therefore, the aforementioned factors are expected to show significant impact on the market in the coming years.

North America Region to Dominate the Market

- The North American region dominated the global market share. The increasing hospital construction and high awareness among the population, regarding the importance of a hygienic environment, are some of the factors driving the growth of the industrial and institutional cleaning chemicals market in the region.
- In 2019, the total value of new construction put in place was about USD 1,365 billion in the United States and reached about USD 1,429 billion in 2020, with a growth rate of about 4.5%, thus led to an increase in the demand for the floor cleaning chemicals, which in turn increases the demand of the industrial and institutional cleaning chemicals market.

- Recently, Georgia approved a USD 1.5 billion hospital project, for Children's Healthcare of Atlanta, which includes replacing the 325-bed children's hospital in Atlanta with a larger one containing 446 beds. The construction of this new hospital has started in 2020 and will be completed in the coming years.
- The growth of the United States industrial cleaning sector, coupled with government initiatives and regulatory policies, are anticipated to support the market growth in the near future as well.

- Furthermore, the industrial and institutional cleaning chemicals are also consumed by laundry care segment. The Canada laundry care segment was valued at about USD 1,235 million in 2019 and is estimated to reach about USD 1,300 million by 2024, with a CAGR of about 1%, which in turn stimulates the regional market demand for industrial and institutional cleaning chemicals.

- Increasing pollution and public concerns about cleaning and hygiene maintenance on public places are giving a boost to the industrial and institutional cleaning chemicals market, especially in the industrial cleaning segment due to rising government concerns related to clean operations and energy efficiency in industrial sector.
- Therefore, the aforementioned factors are expected to show significant impact on the market in the coming years.

Competitive Landscape

The industrial and institutional cleaning chemicals market is consolidated in nature, with few players accounting for a significant share of the market demand. Some of the major players in the market include Procter & Gamble, Henkel AG & Co. KGaA, BASF SE, Clariant, and 3M, among others.

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- The market estimate (ME) sheet in Excel format
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Tags covid19 impact , industrial and institutional cleaning chemicals market , industrial and institutional cleaning chemicals market forecast , industrial and institutional cleaning chemicals market growth , industrial and institutional cleaning chemicals market share , industrial and institutional cleaning chemicals market size , industrial and institutional cleaning chemicals market trends
Last Updated April 23, 2021