BASF SE (Germany) and Dow Inc. (US) are Leading Players in the Industrial Cleaning Chemicals Market
The industrial cleaning chemicals market is projected to grow from USD 47.1 billion in 2023 to USD 59.5 billion by 2028, at a CAGR of 4.8% during the forecast period. The market growth is primarily driven by factors such as increased concern over healthier environment and workplace hygiene initiatives. Increasing demand from application post COVID-19 pandemic benefits the industrial cleaning chemical suppliers and fuels the global industrial cleaning chemicals market.
The industrial cleaning chemicals market is evolving, with major players playing a vital role in developing new and advanced products. BASF SE (Germany), Dow Inc. (US), Clariant AG (Switzerland), Evonik Industries AG (Germany), Solvay SA (Belgium), Diversey Holdings Ltd. (US), Stepan Company (US), Ecolab Inc. (US), Pilot Chemical Corp. (US), and DuPont de Nemours, Inc. (US) are key players in the industrial cleaning chemicals market. These players have adopted various growth strategies to strengthen their position in the market. These include new product launches, mergers and acquisitions, contracts, partnerships, and product development activities to further expand their presence in the industrial cleaning chemicals market.
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BASF SE
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. BASF SE operates as a chemical company globally through six business segments: chemicals, materials, industrial solutions, surface technologies, nutrition & care, and agricultural solutions. The company provides industrial cleaning chemicals through the care chemicals sub-segment coming under the nutrition & care segment. BASF SE 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. In November 2022, BASF SE announced its collaboration with Inditex to develop the first detergent designed to reduce microfiber release from textiles during washing.
Dow Inc.
Dow Inc. 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, among others. The company manages its brand portfolio through its four segments: packaging & specialty plastics, industrial intermediates & infrastructure, performance materials & coatings and corporate. It offers industrial cleaning chemicals through the sub-segment industrial solutions that comes under industrial intermediates & infrastructure. The company operates in 31 countries with more than 106 manufacturing facilities. In January 2022, Dow Inc. signed an exclusive agreement with Locus Performance Ingredients to expand biosurfactant offerings in the global home care and personal care markets.
Clariant AG
Clariant AG is involved in the development, production, distribution, and sales of specialty chemicals. The company operates in three business segments care chemicals, catalysis, and natural resources. The company offers industrial cleaning chemicals through the care chemicals business segment. Through the care chemicals segment, the company provides innovative chemistry, technology, and service solutions to the agriculture, personal care, homecare, and industrial cleaning industries. The company offers industrial cleaning chemicals for applications such as dishwashing, hard-surface cleaning, and laundry. It is highly active in the cleaning chemicals market; it has recently launched a new bio-based laundry detergent for industrial applications. In December 2022, Clariant AG announced new investments to enhance Chinese ethoxylation plant. An investment of USD 87.5 million is made for increasing capacity for existing products as well as the introduction of new products by the end of 2024.
Related Reports:
Industrial Cleaning Chemicals Market by Ingredient (Surfactants, Solvents, Chelating Agents), Product (General & Medical Cleaning), Application (Manufacturing & Commercial Offices, Healthcare, Retail & Food Service), and Region - Global Forecast to 2028
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