Industrial Degreaser Market Size by Revenue to Reach USD 24.3 Billion by 2026 - Arizton

CHICAGO, Dec. 6, 2021 /PRNewswire/ -- In-depth analysis and data-driven insights on the impact of COVID-19 included in this global industrial degreaser market report.

The industrial degreaser market is expected to grow at a CAGR of over 5% during the period 2020−2026.

Key Highlights Offered in the Report:  

• The major driver of the industrial degreaser includes the growing demand from automotive industry, manufacturing, aviation, marine, oil and gas and other end-use industry.
• The global industrial degreaser market suffered a downfall during the COVID-19 crisis as most of the economic activities were halted during Q1 and Q2 2020. Most of the major revenue-generating end-users such as automotive, manufacturing, and aviation manufacturing activities were affected, leading to a decline in demand for new industrial degreaser.
• Water-based industrial degreaser holds the largest share, followed by solvent-based industrial degreaser market share. The water-based industrial degreaser market is expected to grow at a CAGR of 5% during the forecast period
• North America dominated the industrial degreaser market in terms of value. The growing regulation about cleanliness and maintaining hygienic environment across the manufacturing plants in the region is growing the demand of industrial degreaser.
• APAC region is expected to be the fastest growing market for industrial degreaser during the forecast period owing to major manufactures shifted their plants in the region which in turn fueling the demand of industrial degreaser.

Key Offerings:

• Market Size & Forecast by Revenue | 2020−2026
• Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
• Market Segmentation – A detailed analysis by degreaser type, grade, application, and geography
• Competitive Landscape – 5 key vendors and 21 other vendors are profiled in the report

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Industrial Degreaser Market – Segmentation

• In North America and Europe, the limitation for the use of VOC content products has increased the adoption of water-based degreasers in the region. In 2020, the water-based degreasers accounted for a 54.74% share of the global industrial degreaser market.
• The liquid-based industrial degreasers are easily available in the global market, that contain fewer chemical additives, has low toxicity, non-flammable, and biodegradable. Thereby, the demand for liquid-based industrial degreasers is expected to be high during the forecast period.
• The major trends driving the market for industrial degreasers are continuously developing and the demand for higher performance degreasers to extend the life of the machinery reducing their maintenance cost.
• The global pharmaceutical manufacturing industry is growing owing to continuous investments made by pharmaceutical and outsourcing firms to expand their manufacturing facilities, which has positively impacted the market over the past few years.

Industrial Degreaser Market by Type

• Water-Based
• Solvent-Based

Industrial Degreaser Market by Grade

• Liquid-Based
• Petroleum Based
• Bio-Based
• Others

Industrial Degreaser Market by Application

• Automotive
• Manufacturing
• Pharmaceutical
• Aviation
• Others

Industrial Degreaser Market – Dynamics

The installation of automotive, shipbuilding, aircraft, paints, marine, and other factories in the developing countries is supporting the growth of industrial degreasers in recent years. The FDA enforcing various regulations to ensure that manufacturing facilities of pharmaceutical products, medical devices, and food & beverage equipment are well maintained and calibrated, which, in turn, is supporting the use of industrial degreasers. The demand for bio-based industrial degreasers is rising due to the supporting government regulations. Bio-based industrial degreasers possess zero to low VOC content when compared to other degreasers. The rapid growth of automobile industry is fueling the demand for industrial degreaser in the global market. Key players such as BASF & DOW Chemical are involved in several ongoing sustainability partnerships. Sustainability is the key strategic approach in giving them a competitive edge over their market rivals in the long term.

Key Drivers and Trends fueling Market Growth:

• Growing Industrialization in Emerging Economies
• Favorable Government Regulations
• Rising Automotive Production & Sales
• Demand For Eco-Friendly Products

Industrial Degreaser Market – Geography

The market in North America is rapidly evolving with the adoption of new machinery and technology every two years, to gain a competitive edge in the high-cost and competitive market. The increasing infrastructural development in countries such as Peru, Chile, and Colombia are expected to provide growth opportunities for the market during the forecast period. The United States was the major revenue contributor to the North American industrial degreaser market and accounted for a share of around 84.50% in 2020, followed by Canada with 15.50%. In recent years, the North American Free Trade Agreement (NAFTA) reforms have forced US-based auto manufacturers to use North American tools to boost their supply chain. Such developments in the automobile manufacturing sector are driving domestic production and are expected to boost the demand for industrial degreasers in the region during the forecast period in the region.

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Industrial Degreaser Market by Geography

• North America
• US
• Canada
• Europe
• Germany
• UK
• France
• Italy
• Spain
• Russia
• APAC
• China
• India
• Japan
• Australia
• South Korea
• Latin America
• Brazil
• Mexico
• Middle East & Africa
• Saudi Arabia
• UAE
• South Africa

Key Company Profiles

• BASF
• Dow Chemical Company
• Evonik Industries
• 3M
• Valvoline Inc

Other Prominent Vendors

• Superior Industries Inc.
• CarrollCLEAN
• Callington Heaven
• Betco
• Superior Industries Inc
• Baron Blakeslee
• Stepan Company
• The Claire Manufacturing Company
• NGCT
• Abro Industries Inc
• BG Products Inc
• Auto Industrial Marine Chemicals Inc
• Elevance Renewable Science
• Radiator Specialty Company
• Superior Industries Inc
• Consolidated System Pte Ltd:
• Superior Industries Inc
• Ravcor Cleaning Solutions
• Avmor Ltd
• Oil Technics Limited
• W. Chesterton Company

Explore our chemical and materials profile to know more about the industry.

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