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 273 market data Tables and 59 Figures spread through 290 Pages and in-depth TOC on “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”
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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).
BASF SE is one of the world’s largest chemical company, with a broad range product portfolio. Overall, its product range serves various industries including agriculture, automotive & transportation, chemicals, coating solutions, furniture & wood, home care and cleaning, nutrition, packaging & prints, paint & coatings, leather & footwear construction, electronics & electric, energy & resources, pharmaceuticals, plastics & rubber, pulp & paper, textile, and personal care & hygiene industries. It offers industrial cleaning solvents for various applications such as metal cleaning, disinfection, commercial laundry and others. The company has its presence in 91 countries and operates at 239 production sites across regions. In March 2022, BASF planned to built a new production site to increase the production capacity of its alkylethanolamines portfolio.
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 segement 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 this 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 regulations 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.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on the product portfolios of the top players in the Industrial Cleaning Solvent market.
Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market.
Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market.
Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies.
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Industrial Cleaning Solvent market.