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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