Market Size of Industrial and Institutional Cleaning Chemicals Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 7.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Industrial and Institutional Cleaning Chemicals Market Analysis
The industrial and institutional cleaning chemicals market is projected to register a CAGR of over 7% during the forecast period.
The COVID-19 pandemic negatively impacted the market in 2020. However, on the other hand, considering the post-pandemic scenario, as the lockdowns were lifted, the demand for these cleaning chemicals increased significantly, owing to increased awareness regarding better hygiene and cleanliness.
- Over the short term, accelerating demand from the healthcare industry and rising demand from the food industry for foodborne illnesses are expected to drive the market's growth.
- However, health hazards caused by cleaning chemicals are a key factor anticipated to restrain the growth of the target industry over the forecast period.
- Nevertheless, the emerging use of bio-based cleaning chemicals will likely create lucrative growth opportunities for the global market soon.
- North America dominates the global market, owing to high awareness among the population and collective efforts to maintain cleanliness and hygiene.
