May 03, 2018
WELLESLEY, Mass., May 03, 2018– The increasing requirements for hygiene in commercial sectors, the growing needs of industries such as manufacturing, textile, oil and gas, and the widening adoption of environmentally friendly products are among key factors driving growth in the global market for industrial detergents. In a new report, Industrial Detergents: Global Markets to 2022, BCC Research estimates this market to reach $8.8 billion and $10.8 billion in 2017 and 2022, respectively, indicating a compound annual growth rate of 4.2%.
The detergents manufacturing industry includes more than 900 companies globally. The industry is highly concentrated with top companies holding about 90% of the market share. The major industrial detergents players include The Dow Chemical Company, Stepan Company, BASF, The Clorox Company, Solvay, Huntsman International LLC, Kao Corporation, Croda International Plc, Ashland, Lonza Group and others. Increasingly, these and other market players are shifting to more environmentally-conscious green and bio-based detergents, driving market growth.
Growing worldwide demand for industrial detergents in various applications include manufacturing and commercial offices, healthcare, commercial laundry, the food and beverage industry, and transportation cleaning should move the market forward. The market has witnessed increasing demand especially in the Asia-Pacific, North American and European regions. In addition, increasing demand for industrial surfactants in India and China is pushing market growth.
“The industrial detergents market has increased during the last decade, led by Asia-Pacific. The capacity build-up in China has led to a surplus of detergents in the country, which has produced a growing number of exports to many other regions,” the report notes. “Countries such as Japan, China, India, New Zealand and Australia offer high growth potential for market players. Currently, industrial detergent industries are seeking new areas of investments and development. Consequently, manufacturers of industrial detergents are in various phases of investment, expansion, and new product launches in order to capitalize on opportunities. Key vendors are establishing manufacturing units and expanding capacity in developing regions like Asia-Pacific to obtain inexpensive raw materials, labor, and energy.”
Editors/reporters requesting analyst interviews should contact firstname.lastname@example.org.
Industrial Detergents: Global Markets to 2022( CHM093A )
Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC as the source and publisher. For media inquiries, email email@example.com or visit www.bccresearch.com/media to request access to our library of market research.