Development of bio-based cleaning chemicals by the manufacturer to provide enormous growth opportunities to the market of the industrial & institutional cleaning chemicals. For instance, in January 2019, Nouryon (formerly AkzoNobel Specialty Chemicals) has launched a more sustainable, water-miscible defoamer, Ethylan TB345, that will help household and industrial cleaning formulators meet growing customer need for environmentally safe and cost-effective products that do not compromise on performance.
Disease caused by exposure to the cleaning chemicals is expected to hinder the market growth of industrial & institutional cleaning chemicals. Cancer, asthma, dermatitis, endocrine, and neurologic discrepancies, and other respiratory disorders are some of the diseases caused by cleaning chemicals.
For segment 1 information:
North America region dominated the Industrial and Institutional Cleaning Chemicals market and was valued at US$ 16,147.50 Mn in 2019 and is forecast to grow with a CAGR of 4.1% between 2020 and 2027. Increase in awareness towards the cleanliness and hygiene and also the increase in demand of cleaning chemicals from various industries is expected to drive the demand of industrial and institutional cleaning chemicals in the North America region.
For segment 2 information:
On the basis of application, commercial segment dominated the global Industrial and Institutional Cleaning Chemicals market in 2019, accounting for 44.3% share in terms of value, followed by industrial and domestic, respectively. In the commercial spaces, the threat of infectious diseases is making the consumers conscious about hygiene, which is further resulting in overall increase in health expenditure.
Partnership and collaborations by key players for expanding presence in the market is a major trend. For instance, in January 2020, Sea-Land Chemical Company, a chemical distributor of specialty additives for the lubricants and household, industrial and institutional cleaning markets, has entered into a distribution agreement with LANXESS Corporation. The objective of this partnership is to distribute Baypure®, Bayhibit®, Baysolvex®, and Mersolat® products lines for the water treatment and household, industrial and institutional (HI&I) cleaner industries in Canada.
Growing demand for safe and environmentally friendly cleaning chemicals for building care chemicals segment is expected to augment the market growth. The market growth is also attributed to growth in the construction industry coupled with the increasing adoption of safe and advanced chemicals across the construction industry.