The report "Industrial Cleaning Solvents Market by Application (General & Medical Device Cleaning, Metal Cleaners, Disinfectants, Food Cleaners), End-use Industry (Manufacturing and Commercial Offices, Healthcare,), & Region - Global Forecast to 2028", size was USD 1.1 billion in 2022 and is projected to reach USD 1.4 billion by 2028, at a CAGR of 4.3% from 2023 to 2028.
Browse in-depth TOC on "Industrial Cleaning Solvents Market"
130 – Tables
65 – Figures
220 – Pages
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General & medical device Cleaning was the largest application of the industrial cleaning solvents market, in terms of value, in 2022
The consumption of solvents in cleaning including carpet, hard surfaces, and floors is high. This is mostly due to these solvents are safe and more effective for general cleaning. Moreover, some of the solvents shows the antimicrobial properties which makes solvents ideal for general & medical cleaning. Thus, the general & medical cleaning application segment has largest share in application.
Manufacturing and commercial offices is estimated to be the largest end-use industry segment of the industrial cleaning solvents, in terms of value, during the forecast period.
Manufacturing and commercial cleaning, healthcare retail & food service, hospitality, automotive & aerospace, food processing and others are various market segment based on the end-use industry. From them, during the forecast period, manufacturing and commercial cleaning is projected to hold the largest market share of industrial cleaning solvents. The manufacturing needs high cleaning and and commercial offices needs normal general cleaning simultaneously. Due to these the industrial cleaning solvents are more suitable for cleaning products in manufacturing and commercial cleaning.
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Asia Pacific is estimated to be the largest market for the industrial cleaning solvents market, in terms of value, during the forecast period.
Asia Pacific is projected to be the largest market for industrial cleaning solvents, in terms of value, during the forecast period, driven by the raising industrialization, exports and awareness of hygiene in region specially in Japan and China. Moreover, the regulation in this region is more favourable for industrial cleaning solvents market. Thus, due to these reasons the demand for industrial cleaning solvents in Asia Pacific region is increased.
Industrial Cleaning Solvents Market Key Players
The key players profiled in the report include Exxon Mobil Corporation (US), Shell plc (UK), BASF SE (Germany), Dow Inc. (US), and Lyondellbasell Industries N.V. (US).
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Exxon Mobil Corporation is one of the world’s largest publicly traded oil & gas company. Through its chemical products business segment, it offers industrial cleaning solvents. These cleaning solvents are used in various end-use industries such as manufacturing & commercial offices, automotive & aerospace, food processing, healthcare, hospitality and others. Likewise, the company has strong R&D capabilities, which help know customers well. The company is focusing on improvements, sustained investments, and technological advancements.It has a extensive worldwide presence in almost all key countries.
Shell plc, formerly known as Royal Dutch Shell Plc, is a petrochemical and energy company. Also, it is one of the six oil & gas “supermajors” and one of the world’s most valuable companies. It operates through five business segments, and chemicals business segment offers industrial cleaning solvents. It has strong presence in Asia Pacific, the Middle East & Africa, North American, European, and South American region. It is also increasing its global foothold to achieve a strong customer base in emerging as well as developed markets.