Industrial and Institutional Cleaning Chemicals Market Statistics, Top Major Players 2027
The global industrial and institutional cleaning chemicals market size is expected to reach USD 68.16 billion by 2027, exhibiting a CAGR of 4.7% during the forecast period. The stringent food safety standards implemented by the authorities can have a tremendous impact on the global market, states Fortune Business Insights, in a report, titled “Industrial and Institutional Cleaning Chemicals Market Size, Share & COVID-19 Impact Analysis, By Product Type (General Purpose Cleaners, Floor Care, Warewashing, Disinfectant & Sanitizer, Laundry Care, and Others), By End-User (Commercial, Manufacturing, Institutional & Government) and Regional Forecast, 2020-2027.” The market size stood at USD 47.25 billion in 2019.
The emergence of coronavirus has caused the world’s economy to tumble down. We understand that this health emergency has negatively impacted various sectors across the globe. Rising support from governments and several companies can help in the fight against this highly infectious virus. There are some industries that are struggling, and some are thriving. More or less, nearly every sector is estimated to be impacted by this pandemic.
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The industrial and institutional cleaning chemicals market accentuates a profound study of the industry, while shedding light on vital facts and figures. It also offers insightful data about dominant regions, policies adopted by governments and companies, besides providing a brief overview of the market with future insights. The report also encompasses critical factors exhibiting growth. In addition, the COVID-19 impact is also covered in the report.
Increasing Cognizance About Sanitation to Uplift Market Amid Coronavirus
The growing awareness among consumers regarding sanitation and cleanliness, particularly to curb the spread of viruses will fuel demand for cleaning chemicals. The need for chemicals in industrial and manufacturing sectors to maintain hygiene will positively impact the market during coronavirus. Hospitals’ necessary precautions to dampen the virus transmission have resulted in a significant rise in cleaning chemicals. However, lockdown and supply chain disruption has resulted in reduced manufacturing capacities, which, in turn, has retarded the growth of the market during COVID-19 pandemic.
