DUBLIN, May 8, 2016 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/3zlvvk/industrial) has announced the addition of the "Industrial Cleaning Market by Ingredient, by Application and by Product - Global Trends & Forecast to 2020" report to their offering.
The global market for Industrial & Institutional (I&I) cleaning chemicals is projected to be worth USD 50.24 Billion by 2020, at a CAGR of 4.2% between 2015 and 2020. The high growth of the market is attributed to the increasing demand of I&I cleaning chemicals from end-use industries in the U.S., China, India, Brazil, Argentina, and Russia.
Manufacturing and commercial offices segment dominated the Industrial cleaning market. The healthcare segment is expected to be the fastest growing segment during the forecast period. Retail & food service is the third largest industry as of 2014 and is estimated to experience a moderate growth between 2015 and 2020. Rising investment in the retail sector and rise in spending capacity are the major factors boosting the growth of Industrial cleaning market.
Currently, Asia-Pacific is the largest market for Industrial & Institutional cleaning chemicals, in terms of value, closely followed by North America. Asia-Pacific is also the fastest-growing region for this market due to high demand from the manufacturing sector and heavy investment in the healthcare sector. The I&I cleaning chemicals market in Asia-Pacific is also expected to grow significantly due to the presence of major emerging economies such as China and India.
Asia-Pacific is the most active market in terms of strategic initiatives undertaken. Some of the factors driving the growth of this market are high growth in application industry, growth in retail sector, rising awareness towards health and rising investment in the healthcare. Expansion and new product development are preferred strategies adopted by the key market players to sustain the highly competitive market.
- Air Products and Chemicals Inc.
- BASF SE
- Croda International PLC
- Evonik Industries AG
- Pilot Chemical Corp.
- Sealed Air
- Solvay SA
- Spartan Chemical Company Inc.
- Stepan Company
- The DOW Chemical Company
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 I&I Cleaning Chemicals Market, By Ingredient Type
8 I&I Cleaning Chemicals Market, By Application
9 I&I Cleaning Chemicals Market, By Product Type
10 Regional Analysis
11 Competitive Landscape
For more information visit http://www.researchandmarkets.com/research/3zlvvk/industrial
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SOURCE Research and Markets