World Industrial & Institutional (I&I) Cleaning Chemicals Market
World demand to grow 4+% annually through 2018
NEW YORK, April 16, 2015 /PRNewswire/ -- Global demand for I&I cleaning chemicals is expected to grow over four percent per annum to more than $50 billion in 2018. Significant gains will be realized in the healthcare market segment, where a rise in the number of hospital stays and concerns about healthcare associated infections (HAIs) will drive increases in healthcare expenditures worldwide. The manufacturing sector is also expected to be a strong source of growth, especially in developing economies, as these countries focus on increasing their cleaning standards. Disinfectants and sanitizers will benefit most from these trends. Across the industry, changes in the product mix are expected as firms increasingly focus on sustainability and operational efficiency.
Rising healthcare spending to be key demand driver
Increased spending on healthcare will continue to be an important driver of growth in I&I cleaning chemical demand. Greater healthcare utilization will stem from aging populations in Europe, North America, Australia, China, and Japan, as well as from rising prosperity in many developing countries where routine healthcare was previously unaffordable. Increased visitation rates will require more frequent cleaning in these facilities, leading to demand gains for most I&I cleaning products. Disinfectant and
sanitizer sales will be particularly strong, as these products feature heavily in strategies to prevent the spread of HAIs, a major focus of healthcare.
Food processing to also be a factor
The manufacturing sector, particularly food and beverage processing, will also support rising demand going forward. Increased spending power and continued adoption of more Western style eating habits will expand food and beverage manufacturing in developing countries. Rising global trade in packaged food and beverage products will also be a contributing factor as developing countries adopt more stringent production protocols in order to meet the regulatory standards of target export markets. Along with healthy growth in this market overall, widespread coverage of foodborne illness outbreaks and product recalls due to bacterial contamination will boost demand.
Product mix shifting toward water-based chemicals
Cleaning chemical manufacturers continue to make their products more sustainable, cost effective, and user friendly. This is leading to changes in the cleaning chemical product mix. Newer cleaning systems often feature waterbased cleaning chemicals, increasingly in concentrated formats, combined with efficient, easy-to-use equipment. These improvements can result in considerable decreases in the amounts of water and energy used while also providing end users with lower labor costs and higher operational efficiency.
Study coverage
Details on these and other findings are offered in an upcoming study, World Industrial & Institutional (I&I) Cleaning Chemicals. It presents historical demand data for 2003,
2008 and 2013 as well as forecasts for 2018 and 2023 by product, market, six world regions and for 18 major countries. In addition, this study also considers key market environment factors, analyzes the global industry structure, assesses company market share and profiles 50 participants in the global industry.
Read the full report: http://www.reportlinker.com/p02505799-summary/view-report.html
About Reportlinker
ReportLinker is an award-winning market research solution that finds, filters and organizes the latest industry data so you get all the market research you need - instantly, in one place.
http://www.reportlinker.com
__________________________
Contact Clare: [email protected]
US: (339)-368-6001
Intl: +1 339-368-6001
SOURCE Reportlinker
Share this article