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Healthcare and more stringent safety standards fuel demand for industrial & institutional chemicals in India
The industrial and institutional cleaning chemicals market in India is witnessing increasing adoption in commercial, manufacturing, government and institutional end-use segments.
In addition, increasing consumer awareness regarding foodborne diseases and microbial infections is also boosting the use of cleaning chemicals. The demand for industrial and institutional cleaning chemicals has been growing exponentially over the last five years, with continuing growth being witnessed in the food & beverage processing and healthcare sectors.
According to recently published TechSci Research report, 'India Industrial & Institutional Cleaning Chemicals Market Forecast & Opportunities, 2020', the industrial and institutional cleaning chemicals market in India exhibited a Compound Annual Growth Rate of 14.5% during 2010-14.
The report reveals that the commercial sector generates the highest demand for industrial and institutional cleaning chemicals; the trend is expected to continue over the next five years on account of growing commercial activities in the country. The manufacturing sector is also one of the leading end-use segments for cleaning chemicals on account of continuing growth being witnessed in food & beverages processing and electronic hardware production. Currently, Diversey, Chevron, Haylide Chemicals, Satol Chemicals and Rossari Biotech are the leading suppliers of industrial and institutional chemicals in India.
"In India's industrial & institutional cleaning chemicals market, the commercial sector accounted for the highest value gains due to huge demand emanating from the laundry & dry cleaning, food service, office and retail outlet segments," reports Karan Chechi, research director with global management consulting firm TechSci Research.
"Hotels and lodging are expected to experience the fastest increase in terms of cleaning chemical consumption as compared to any other sector in the commercial market. "However, over the next five years, use of cleaning chemicals is expected to witness robust growth in the manufacturing sector on account of growing safety and health standards in the food and beverages processing sector."
The report: 'India Industrial & Institutional Cleaning Chemicals Market Forecast & Opportunities, 2020', has analysed the potential of the India's industrial & institutional chemicals market and provides statistics and information on market sizes, shares and trends, as well as cutting-edge market intelligence that will help users make sound investment decisions. It also identifies and analyses the emerging trends along with essential drivers and key challenges faced by the industry.
23rd April 2015