The industrial cleaning solvent market size is projected to thrive at a 4.8% CAGR from US$ 1.3 billion in 2024 to US$ 2 billion by 2034. The demand for industrial cleaning solvents is expanding due to several factors, including rising product consumption from the healthcare sector, stringent environmental and safety regulations, and growing public awareness of cleanliness in emerging nations.
Due to emerging economies' rising industrialization and urbanization, Asia Pacific is expected to lead the industrial cleaning solvent market expansion. Obstacles include fluctuating raw material pricing and concerns about sustainability in the environment.
Attributes | Details |
---|---|
Market Value for 2024 | US$ 1.3 billion |
Market Value for 2034 | US$ 2.0 billion |
Market CAGR from 2024 to 2034 | 4.8% |
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Short-term Analysis (2019 to 2023):
Attributes | Details |
---|---|
Market Value for 2019 | US$ 0.9 billion |
Market Value for 2023 | US$ 1.2 billion |
Market CAGR from 2019 to 2023 | 6.3% |
Mid-term Analysis (2023 to 2029):
Long-term Analysis (2029 to 2034):
The segmented market analysis of industrial cleaning solvent is included in the following subsection. Based on comprehensive studies, the general and medical device cleaning sector is leading the application category, and the manufacturing and commercial offices segment is commanding the end-use industry category.
Attributes | Details |
---|---|
Top Application | General and Medical Device Cleaning |
CAGR % 2019 to 2023 | 6.1% |
CAGR % 2024 to End of Forecast (2034) | 4.6% |
Attributes | Details |
---|---|
Top End-use industry | Manufacturing and Commercial Offices |
CAGR % 2019 to 2023 | 5.8% |
CAGR % 2024 to End of Forecast (2034) | 4.4% |
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The industrial cleaning solvent market can be observed in the subsequent tables, which focus on the leading economies in South Korea, Japan, the United Kingdom, China, and the United States. A comprehensive evaluation demonstrates that South Korea has enormous market opportunities for industrial cleaning solvents.
Country | South Korea |
---|---|
HCAGR (2019 to 2023) | 13.1% |
CAGR (2024 to 2034) | 6.5% |
Country | Japan |
---|---|
HCAGR (2019 to 2023) | 9.7% |
CAGR (2024 to 2034) | 6.3% |
Country | United Kingdom |
---|---|
HCAGR (2019 to 2023) | 9.4% |
CAGR (2024 to 2034) | 6.0% |
Country | China |
---|---|
HCAGR (2019 to 2023) | 8.2% |
CAGR (2024 to 2034) | 5.5% |
Country | United States |
---|---|
HCAGR (2019 to 2023) | 7.0% |
CAGR (2024 to 2034) | 5.1% |
Notable industrial cleaning solvent manufacturers in the competitive market environment that shape industry dynamics. Eastman Chemical Company prioritizes innovation in industrial cleaning solvent products. Royal Dutch Shell Plc places a premium on its broad experience and global reach. Ashland Global Holdings Inc. contributes unique competencies, while LyondellBasell Industries Holdings B.V. leverages its diversified portfolio.
The major industrial cleaning solvent vendors propel progress by tackling environmental issues and legal mandates. Their industrial cleaning solvent market positions are strengthened by their strategic initiatives and dedication to sustainability. Industrial cleaning solvent producers continue to play a key role in determining the market's direction as demand for efficient and eco-friendly cleaning solutions rises.
Notable Advancements
Company | Details |
---|---|
BASF | BASF opened a new methane sulfonic acid production facility at its Ludwigshafen Verbund plant in May 2022. |
Eastman Chemical Company | Eastman Chemical Company's tertiary amine capacity expansion was completed in February 2022. This development made its Ghent manufacturing site the world's largest tertiary amine facility. |
Celanese Corporation | Celanese Corporation plans to enhance its acetyl chain capacity in March 2021 to meet client demand. |
Laxness | In March 2021, Laxness completed the acquisition of INTACE SAS, a Paris-based biocide manufacturing company, which may add to the company's product line. |
Nouryon | To meet consumer demand for surfactants, Nouryon quadrupled the production capacity of its surfactant facilities in Stenungsund, Sweden, in August 2019. |
The demand for industrial cleaning solvent to secure a valuation of US$ 1.3 billion in 2024.
The industrial cleaning solvent market revenue is estimated to attain US$ 2.0 billion by 2034.
Through 2034, the industrial cleaning chemical market is anticipated to thrive at a 4.8% CAGR.
From 2019 to 2023, the sales of industrial cleaning solvents evolved at a 6.3% CAGR.
The general and medical device cleaning sector is set to develop at a CAGR of 4.6% through 2034.
The manufacturing and commercial offices sector is predicted to accelerate at a CAGR of 4.4% from 2024 to 2034.
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Product Life Cycle Analysis 3.5. Supply Chain Analysis 3.5.1. Supply Side Participants and their Roles 3.5.1.1. Producers 3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers) 3.5.1.3. Wholesalers and Distributors 3.5.2. Value Added and Value Created at Node in the Supply Chain 3.5.3. List of Raw Material Suppliers 3.5.4. List of Existing and Potential Buyer’s 3.6. Investment Feasibility Matrix 3.7. Value Chain Analysis 3.7.1. Profit Margin Analysis 3.7.2. Wholesalers and Distributors 3.7.3. Retailers 3.8. PESTLE and Porter’s Analysis 3.9. Regulatory Landscape 3.9.1. By Key Regions 3.9.2. By Key Countries 3.10. Regional Parent Market Outlook 3.11. Production and Consumption Statistics 3.12. Import and Export Statistics 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034 4.1. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis, 2019 to 2023 4.2. Current and Future Market Size Value (US$ Million) & Volume (Tons) Projections, 2024 to 2034 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Application 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis By Application, 2019 to 2023 5.3. Current and Future Market Size Value (US$ Million) & Volume (Tons) Analysis and Forecast By Application, 2024 to 2034 5.3.1. General & Medical Device Cleaning 5.3.2. Metal Cleaners 5.3.3. Disinfectants 5.3.4. Commercial Laundry 5.3.5. Food Cleaners 5.3.6. Others 5.4. Y-o-Y Growth Trend Analysis By Application, 2019 to 2023 5.5. Absolute $ Opportunity Analysis By Application, 2024 to 2034 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End-use industry 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis By End-use industry, 2019 to 2023 6.3. Current and Future Market Size Value (US$ Million) & Volume (Tons) Analysis and Forecast By End-use industry, 2024 to 2034 6.3.1. Manufacturing and Commercial Offices 6.3.2. Healthcare 6.3.3. Retail & Food Service 6.3.4. Hospitality 6.3.5. Automotive and Aerospace 6.3.6. Food Processing 6.3.7. Others 6.4. Y-o-Y Growth Trend Analysis By End-use industry, 2019 to 2023 6.5. Absolute $ Opportunity Analysis By End-use industry, 2024 to 2034 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 7.1. Introduction 7.2. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis By Region, 2019 to 2023 7.3. Current Market Size Value (US$ Million) & Volume (Tons) Analysis and Forecast By Region, 2024 to 2034 7.3.1. North America 7.3.2. Latin America 7.3.3. Europe 7.3.4. East Asia 7.3.5. South Asia 7.3.6. Oceania 7.3.7. MEA 7.4. Market Attractiveness Analysis By Region 8. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 8.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2019 to 2023 8.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2024 to 2034 8.2.1. By Country 8.2.1.1. USA 8.2.1.2. Canada 8.2.2. By Application 8.2.3. By End-use industry 8.3. Market Attractiveness Analysis 8.3.1. By Country 8.3.2. By Application 8.3.3. By End-use industry 8.4. Key Takeaways 9. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 9.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2019 to 2023 9.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2024 to 2034 9.2.1. By Country 9.2.1.1. Brazil 9.2.1.2. Mexico 9.2.1.3. Argentina 9.2.1.4. Rest of Latin America 9.2.2. By Application 9.2.3. By End-use industry 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Application 9.3.3. By End-use industry 9.4. Key Takeaways 10. Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 10.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2019 to 2023 10.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2024 to 2034 10.2.1. By Country 10.2.1.1. Germany 10.2.1.2. Italy 10.2.1.3. France 10.2.1.4. UK 10.2.1.5. Spain 10.2.1.6. Russia 10.2.1.7. BENELUX 10.2.1.8. Rest of Europe 10.2.2. By Application 10.2.3. By End-use industry 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Application 10.3.3. By End-use industry 10.4. Key Takeaways 11. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 11.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2019 to 2023 11.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2024 to 2034 11.2.1. By Country 11.2.1.1. China 11.2.1.2. Japan 11.2.1.3. South Korea 11.2.2. By Application 11.2.3. By End-use industry 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Application 11.3.3. By End-use industry 11.4. Key Takeaways 12. South Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 12.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2019 to 2023 12.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2024 to 2034 12.2.1. By Country 12.2.1.1. India 12.2.1.2. Thailand 12.2.1.3. Malaysia 12.2.1.4. Indonesia 12.2.1.5. Rest of South Asia 12.2.2. By Application 12.2.3. By End-use industry 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Application 12.3.3. By End-use industry 12.4. Key Takeaways 13. Oceania Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 13.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2019 to 2023 13.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2024 to 2034 13.2.1. By Country 13.2.1.1. Australia 13.2.1.2. New Zealand 13.2.2. By Application 13.2.3. By End-use industry 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Application 13.3.3. By End-use industry 13.4. Key Takeaways 14. MEA Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 14.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2019 to 2023 14.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2024 to 2034 14.2.1. By Country 14.2.1.1. GCC 14.2.1.2. Rest of MEA 14.2.2. By Application 14.2.3. By End-use industry 14.3. Market Attractiveness Analysis 14.3.1. By Country 14.3.2. By Application 14.3.3. By End-use industry 14.4. Key Takeaways 15. Key Countries Market Analysis 15.1. USA 15.1.1. Pricing Analysis 15.1.2. Market Share Analysis, 2023 15.1.2.1. By Application 15.1.2.2. By End-use industry 15.2. Canada 15.2.1. Pricing Analysis 15.2.2. Market Share Analysis, 2023 15.2.2.1. By Application 15.2.2.2. By End-use industry 15.3. Brazil 15.3.1. Pricing Analysis 15.3.2. Market Share Analysis, 2023 15.3.2.1. By Application 15.3.2.2. By End-use industry 15.4. Mexico 15.4.1. Pricing Analysis 15.4.2. Market Share Analysis, 2023 15.4.2.1. By Application 15.4.2.2. By End-use industry 15.5. Argentina 15.5.1. Pricing Analysis 15.5.2. Market Share Analysis, 2023 15.5.2.1. By Application 15.5.2.2. By End-use industry 15.6. Germany 15.6.1. Pricing Analysis 15.6.2. Market Share Analysis, 2023 15.6.2.1. By Application 15.6.2.2. By End-use industry 15.7. Italy 15.7.1. Pricing Analysis 15.7.2. Market Share Analysis, 2023 15.7.2.1. By Application 15.7.2.2. By End-use industry 15.8. France 15.8.1. Pricing Analysis 15.8.2. Market Share Analysis, 2023 15.8.2.1. By Application 15.8.2.2. By End-use industry 15.9. UK 15.9.1. Pricing Analysis 15.9.2. Market Share Analysis, 2023 15.9.2.1. By Application 15.9.2.2. By End-use industry 15.10. Spain 15.10.1. Pricing Analysis 15.10.2. Market Share Analysis, 2023 15.10.2.1. By Application 15.10.2.2. By End-use industry 15.11. Russia 15.11.1. Pricing Analysis 15.11.2. Market Share Analysis, 2023 15.11.2.1. By Application 15.11.2.2. By End-use industry 15.12. BENELUX 15.12.1. Pricing Analysis 15.12.2. Market Share Analysis, 2023 15.12.2.1. By Application 15.12.2.2. By End-use industry 15.13. China 15.13.1. Pricing Analysis 15.13.2. Market Share Analysis, 2023 15.13.2.1. By Application 15.13.2.2. By End-use industry 15.14. Japan 15.14.1. Pricing Analysis 15.14.2. Market Share Analysis, 2023 15.14.2.1. By Application 15.14.2.2. By End-use industry 15.15. South Korea 15.15.1. Pricing Analysis 15.15.2. Market Share Analysis, 2023 15.15.2.1. By Application 15.15.2.2. By End-use industry 15.16. India 15.16.1. Pricing Analysis 15.16.2. Market Share Analysis, 2023 15.16.2.1. By Application 15.16.2.2. By End-use industry 15.17. Thailand 15.17.1. Pricing Analysis 15.17.2. Market Share Analysis, 2023 15.17.2.1. By Application 15.17.2.2. By End-use industry 15.18. Malaysia 15.18.1. Pricing Analysis 15.18.2. Market Share Analysis, 2023 15.18.2.1. By Application 15.18.2.2. By End-use industry 15.19. Indonesia 15.19.1. Pricing Analysis 15.19.2. Market Share Analysis, 2023 15.19.2.1. By Application 15.19.2.2. By End-use industry 15.20. Australia 15.20.1. Pricing Analysis 15.20.2. Market Share Analysis, 2023 15.20.2.1. By Application 15.20.2.2. By End-use industry 15.21. New Zealand 15.21.1. Pricing Analysis 15.21.2. Market Share Analysis, 2023 15.21.2.1. By Application 15.21.2.2. By End-use industry 15.22. GCC Countries 15.22.1. Pricing Analysis 15.22.2. Market Share Analysis, 2023 15.22.2.1. By Application 15.22.2.2. By End-use industry 16. Market Structure Analysis 16.1. Competition Dashboard 16.2. Competition Benchmarking 16.3. Market Share Analysis of Top Players 16.3.1. By Regional 16.3.2. By Application 16.3.3. By End-use industry 17. Competition Analysis 17.1. Competition Deep Dive 17.1.1. Royal Dutch Shell Plc 17.1.1.1. Overview 17.1.1.2. Product Portfolio 17.1.1.3. Profitability by Market Segments 17.1.1.4. Sales Footprint 17.1.1.5. Strategy Overview 17.1.1.5.1. Marketing Strategy 17.1.1.5.2. Product Strategy 17.1.1.5.3. Channel Strategy 17.1.2. Eastman Chemical Company 17.1.2.1. Overview 17.1.2.2. Product Portfolio 17.1.2.3. Profitability by Market Segments 17.1.2.4. Sales Footprint 17.1.2.5. Strategy Overview 17.1.2.5.1. Marketing Strategy 17.1.2.5.2. Product Strategy 17.1.2.5.3. Channel Strategy 17.1.3. LyondellBasell Industries Holdings B.V 17.1.3.1. Overview 17.1.3.2. Product Portfolio 17.1.3.3. Profitability by Market Segments 17.1.3.4. Sales Footprint 17.1.3.5. Strategy Overview 17.1.3.5.1. Marketing Strategy 17.1.3.5.2. Product Strategy 17.1.3.5.3. Channel Strategy 17.1.4. Ashland Global Holdings Inc 17.1.4.1. Overview 17.1.4.2. Product Portfolio 17.1.4.3. Profitability by Market Segments 17.1.4.4. Sales Footprint 17.1.4.5. Strategy Overview 17.1.4.5.1. Marketing Strategy 17.1.4.5.2. Product Strategy 17.1.4.5.3. Channel Strategy 17.1.5. BASF SE 17.1.5.1. Overview 17.1.5.2. Product Portfolio 17.1.5.3. Profitability by Market Segments 17.1.5.4. Sales Footprint 17.1.5.5. Strategy Overview 17.1.5.5.1. Marketing Strategy 17.1.5.5.2. Product Strategy 17.1.5.5.3. Channel Strategy 17.1.6. Huntsman Corporation 17.1.6.1. Overview 17.1.6.2. Product Portfolio 17.1.6.3. Profitability by Market Segments 17.1.6.4. Sales Footprint 17.1.6.5. Strategy Overview 17.1.6.5.1. Marketing Strategy 17.1.6.5.2. Product Strategy 17.1.6.5.3. Channel Strategy 17.1.7. ExxonMobil Corporation 17.1.7.1. Overview 17.1.7.2. Product Portfolio 17.1.7.3. Profitability by Market Segments 17.1.7.4. Sales Footprint 17.1.7.5. Strategy Overview 17.1.7.5.1. Marketing Strategy 17.1.7.5.2. Product Strategy 17.1.7.5.3. Channel Strategy 17.1.8. Celanese Corporation 17.1.8.1. Overview 17.1.8.2. Product Portfolio 17.1.8.3. Profitability by Market Segments 17.1.8.4. Sales Footprint 17.1.8.5. Strategy Overview 17.1.8.5.1. Marketing Strategy 17.1.8.5.2. Product Strategy 17.1.8.5.3. Channel Strategy 17.1.9. INEOS AG 17.1.9.1. Overview 17.1.9.2. Product Portfolio 17.1.9.3. Profitability by Market Segments 17.1.9.4. Sales Footprint 17.1.9.5. Strategy Overview 17.1.9.5.1. Marketing Strategy 17.1.9.5.2. Product Strategy 17.1.9.5.3. Channel Strategy 17.1.10. Dow Inc 17.1.10.1. Overview 17.1.10.2. Product Portfolio 17.1.10.3. Profitability by Market Segments 17.1.10.4. Sales Footprint 17.1.10.5. Strategy Overview 17.1.10.5.1. Marketing Strategy 17.1.10.5.2. Product Strategy 17.1.10.5.3. Channel Strategy 18. Assumptions & Acronyms Used 19. Research Methodology
Chemicals & Materials
October 2024
REP-GB-1088
315 pages
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