 "Global cleaning chemicals market to reach $46 bn in 2018")
Stimulated by increasing efforts to prevent the spread of disease in healthcare and food and beverage manufacturing applications, the global demand for industrial and institutional (I&I) cleaning chemicals is projected to increase from $37.5 billion in 2013 to $46.3 billion in 2018, registering an annual growth of 4.3 percent, according to Freedonia Group’s new report.
The fastest growth is expected to occur in healthcare, due to a rise in the number of hospital stays and concerns about healthcare-associated infections (HAIs). The manufacturing sector is also expected to be a significant source of growth, particularly in developing economies, as rising incomes lead to increases in demand for processed food and beverage products and these countries focus on increasing their cleaning standards.
According to Nick Cunningham, analyst, Freedonia, increased spending on healthcare will continue to be an important driver of growth in I&I cleaning chemical demand. Greater healthcare utilisation will stem from aging populations in Europe, North America, Australia, China, and Japan, as well as from rising prosperity in many developing countries.
Disinfectant and sanitiser sales are expected to be particularly strong, as these products feature heavily in strategies to prevent the spread of HAIs, which is a major focus within the healthcare industry. Strong growth in food and beverage manufacturing will be another important driver of I&I cleaning chemical demand. Increased processed food and beverage production will reflect rising consumption in developing countries due to growing spending power and the continued adoption of more Western style eating habits.
General purpose cleaners will continue to make up the largest share of I&I cleaning products and experience healthy growth going forward. However, according to the Freedonia report, the nature of this growth will be complex, impacted by a diverse set of factors. Market maturity in many developed countries, as well as product substitution in response to the marketing of targeted, specialised cleaners, will restrain advances. This will be balanced by gains in less developed markets where formulated general purpose cleaners are increasingly used in the place of basic chemicals, and by the shift toward more sustainable, cost effective, and user friendly (but ultimately higher value) products in places like the US, Western Europe, and Japan.
The fastest growth is expected to occur in healthcare, due to a rise in the number of hospital stays and concerns about healthcare-associated infections (HAIs). The manufacturing sector is also expected to be a significant source of growth, particularly in developing economies, as rising incomes lead to increases in demand for processed food and beverage products and these countries focus on increasing their cleaning standards.
According to Nick Cunningham, analyst, Freedonia, increased spending on healthcare will continue to be an important driver of growth in I&I cleaning chemical demand. Greater healthcare utilisation will stem from aging populations in Europe, North America, Australia, China, and Japan, as well as from rising prosperity in many developing countries.
Disinfectant and sanitiser sales are expected to be particularly strong, as these products feature heavily in strategies to prevent the spread of HAIs, which is a major focus within the healthcare industry. Strong growth in food and beverage manufacturing will be another important driver of I&I cleaning chemical demand. Increased processed food and beverage production will reflect rising consumption in developing countries due to growing spending power and the continued adoption of more Western style eating habits.
General purpose cleaners will continue to make up the largest share of I&I cleaning products and experience healthy growth going forward. However, according to the Freedonia report, the nature of this growth will be complex, impacted by a diverse set of factors. Market maturity in many developed countries, as well as product substitution in response to the marketing of targeted, specialised cleaners, will restrain advances. This will be balanced by gains in less developed markets where formulated general purpose cleaners are increasingly used in the place of basic chemicals, and by the shift toward more sustainable, cost effective, and user friendly (but ultimately higher value) products in places like the US, Western Europe, and Japan.