BASF SE (Germany) and The Dow Chemical Company (US) are the Key Players in the Industrial Cleaning Chemicals Market
The industrial cleaning chemicals market size was USD 48.1 billion in 2021 and is projected to reach USD 61.6 billion by 2026, at a CAGR of 5.1% between 2021 and 2026. The growth of the industrial cleaning chemicals market is primarily triggered by the rising awareness about hygiene and growth in various applications. The overall growth of the industrial cleaning chemicals market is closely connected to the growth of end-use segments, such as manufacturing & commercial offices, healthcare, retail & food service, automobile & aerospace, hotels, and food processing & dairy industry, among others. Cleaning plays a very important role in the growth and performance of these industries. Healthcare, hospitality, and retail are the sectors where there is direct client interaction and, thus, these industries are focused on ensuring a clean environment. In the manufacturing, automotive, and food processing industries, better hygiene not only results in quality products, but is also safe for workers’ health. It helps in improving productivity. All these industries are projected to grow at a positive rate, which is expected to drive the demand for industrial cleaning chemicals in these industries.
The key players in this market are Diversey Holdings, Ltd. (US), Evonik Industries AG (Germany), BASF SE (Germany), Stepan Company (US), The Dow Chemical Company (US), Ecolab Inc. (US), Clariant AG (Switzerland), Solvay (Belgium), Pilot Chemical Corp. (US), DuPont De Numerous, Inc. (US), Novozyme (Denmark), National Chemical Laboratories, Inc. (US), Nyco Products Company (US), and Trans Gulf Industries (US).
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Players in the industrial cleaning chemicals market are mainly concentrating on new product launches, and acquisitions to meet the growing demand for industrial cleaning chemicals for various end-use industry. New product launches help companies to strengthen their product portfolio and meet the specific demands of customers.
The growth of the industrial cleaning chemicals market has been influenced by new product launches that were undertaken between 2018 and 2021. Different companies are deploying different strategies to strengthen their position in the industrial cleaning chemicals market. Evonik Industries AG, Clariant AG, and BASF SE are primarily focused on Europe, whereas The Dow Chemical Company is mainly focused on North America and Solvay in Asia Pacific and Rest of the World. In general, these five companies are all strong in their domestic markets and exploring geographic diversification alternatives to grow their businesses. All five companies are focused on increasing their market shares through partnerships and enhancing their product portfolio over the past few years.
BASF SE is one of the leading chemical companies in the world. The company’s portfolio includes chemicals, plastics, functional solutions, performance products, agricultural solutions, crude oil, and natural gas. The company offers a broad range of ingredients for home care, industrial & institutional cleaning, and technical applications. It is a leading global supplier for the detergents and cleaners industry and supports its customers with innovative and sustainable products, solutions, and concepts. Its high-performance product portfolio includes surfactants, emulsifiers, polymers, emollients, chelating agents, cosmetic active ingredients, and UV filters. BASF operates in more than 80 countries across Europe, North America, Asia Pacific, Latin America, and the Middle East & Africa. It has 13 operating divisions with 84 strategic business units. The company operates globally through its subsidiaries, with more than 338 production sites worldwide.
On the other hand, The Dow Chemical Company is one of the largest chemical manufacturers in the world. It has a widely diversified business portfolio. It serves a number of end-use industries, including construction, healthcare & medical, packaging, oil & gas, transportation, pharmaceutical, processed foods, pulp & paper, textile & carpet, utilities, and renewable energy. The company expects to make investments over the next several years to enhance competitiveness in its Industrial Solutions business. The investments will include alkoxylation capacity expansions and finishing capabilities and efficiency improvements around the world. The company operates in 31 countries with more than 106 manufacturing facilities.
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