Cleanzine: your weekly cleaning and hygiene industry newsletter 18th April 2024 Issue no. 1110
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Industrial cleaning market worldwide is projected to grow by US$15BN
The industrial cleaning market worldwide is projected to grow by US$15.9 Billion, driven by a compounded growth of 4.1%, according to a new report. Chelating agents, one of the segments analysed and sized in this study, displays the potential to grow at over 4.4%.
The shifting dynamics supporting this growth makes it critical for businesses in this sector to keep abreast of the changing pulse of the market. Poised to reach over US$13.8 billion by the year 2025, chelating agents will bring in healthy gains adding significant momentum to global growth.
Representing the developed world, the US will maintain a 3.2% growth momentum. Within Europe, which continues to remain an important element in the world economy, Germany will add over US$584.1 million to the region's size and clout in the next five - six years. Over US$2.6 billion worth of projected demand in the region will come from other emerging Eastern European markets.
In Japan, chelating agents will reach a market size of US$535.1 million by the close of the analysis period.
As the world's second largest economy and the new game changer in global markets, China exhibits the potential to grow at 6.5% over the next couple of years and add approximately US$5 billion in terms of addressable opportunity for the picking by aspiring businesses and their astute leaders.
Presented in visually rich graphics are these and many more need-to-know quantitative data important in ensuring quality of strategy decisions, be it entry into new markets or allocation of resources within a portfolio. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.
Several macroeconomic factors and internal market forces will shape growth and development of demand patterns in emerging countries in Asia-Pacific, Latin America and the Middle East.
- Competitors identified in this market include among others, 3M Company (US); BASF SE (Germany); Clariant (Switzerland); Croda International (UK); Diversey (US); Dow (US); Ecolab (US); Evonik Industries AG (Germany); Huntsman Corporation (US); Kao Chemicals Europe SL (Spain); Mitsubishi Chemical Holdings Corporation (Japan); Neos Company (Japan); Pilot Chemical Company (US); Quaker Chemical Corporation (US); Solvay SA (Belgium); Spartan Chemical (US); Stepan Company (US); WVT Industries NV (Belgium).
3rd October 2019