Industrial and Institutional Cleaning Chemicals Market Growth Accelerated by Increasing Demand from Commercial and Institutional Sectors

 

Industrial and Institutional Cleaning Chemicals are used for maintaining hygiene and cleanliness in various industries and institutional sectors. They help remove impurities, grease, stains and germs to prevent the spread of diseases. The increasing awareness regarding health and hygiene along with strict regulations is driving the demand for these chemicals from commercial spaces like hospitals, hotels, restaurants, educational institutions etc. The global Industrial and Institutional Cleaning Chemicals Market is estimated to be valued at US$ 62.64 Bn in 2023 and is expected to exhibit a CAGR of 18.% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the key trends augmenting the growth of the Global Industrial And Institutional Cleaning Chemicals Market Size is the increasing demand from commercial and institutional sectors. Various industries and institutional sectors are focusing more on cleanliness and hygiene to provide a safe environment to employees and customers. This is fueling the adoption of advanced cleaning chemicals. Moreover, strict regulations regarding health and hygiene compliance in public places is also propelling the market growth. Manufacturers are developing eco-friendly and sustainable cleaning solutions to cater to the rising environmental concerns, which is another major trend in the market. They are using bio-based and plant-extracted ingredients in formulations.

Segment Analysis

The global industrial and institutional cleaning chemicals market is dominated by the general purpose cleaners segment. General purpose cleaners can be used on multiple surfaces like floors, walls, tiles, and other common areas. They are affordable and versatile cleaning products suitable for regular cleaning tasks. Hence, the general purpose cleaners segment accounts for over 30% of the market share.

Key Takeaways

The global industrial and institutional cleaning chemicals market is expected to witness high growth. The market size is projected to grow from US$ 62.64 Bn in 2024 to US$ 124.76 Bn by 2031, expanding at a CAGR of 18%.

North America currently holds the leading share in the global market owing to stringent regulations regarding hygiene and sanitation. The region accounts for over 35% of total demand. Stringent regulations have compelled businesses and institutions to adopt advanced cleaning chemicals and solutions.

Key players operating in the industrial and institutional cleaning chemicals market are Stem Cyte, Inc., CRYO-CELL INTERNATIONAL, INC., ViaCord, Cord Blood Registry, SmartCells, Inc., LifeCell International Pvt. Ltd., Cryoviva Biotech Pvt. Ltd., Cryo Stemcell, Reliance Life Sciences, and Transcell Biolife Pvt. Ltd. These manufacturers are focusing on new product development and capacity expansion to strengthen their market position.

Get More Insights On This Topic: https://www.newsstatix.com/industrial-and-institutional-cleaning-chemicals-market-size-share-analysis-2023-2030/


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