Global Industrial Cleaning Chemicals market growth 2024, Forecast To 2033

4 Mar, 2024

The industrial cleaning chemicals market size has shown strong growth patterns, increasing from$57.56 billion in 2023 to$61.75 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. This growth in the historic period can be attributed to factors such as industrialization and manufacturing expansions, adherence to stringent regulatory standards, compliance with occupational health and safety regulations, emphasis on sustainable practices, growth in the food processing industry, maintenance of healthcare facility hygiene, and initiatives for water treatment and pollution control. Looking ahead, the market is expected to witness robust growth, reaching$82.57 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. Factors driving this growth include the globalization of supply chains, emphasis on green chemistry practices, growth in e-commerce platforms, control of biofilms in food processing, rapid urbanization trends, provision of customized cleaning solutions, and the focus on specialty chemicals. Major trends in the forecast period involve increased adoption of automation and robotics, focus on high-efficiency and performance standards, shift towards bio-based and bio-derived ingredients, customization and tailoring of cleaning solutions, advancements in nanotechnology, and the adoption of digitalization and data-driven cleaning practices.

Global Industrial Cleaning Chemicals Market Key Driver

The rapid growth of the automotive industry is driving the growth of the industrial diamond market. The automotive industry refers to a broad spectrum of businesses engaged in producing, developing, developing, designing, marketing, and distributing motor vehicles, towing vehicles, and mopeds. Industrial diamond has proven to be more cost-effective in many industrial operations than other abrasives because it cuts quicker and lasts longer. In the automotive industry, abrasives are used for frame cutting, edge chamfering, cutting, shaping, forming, and weld removal. Thus, the rising automotive industry will propel the sales growth of industrial diamonds. For instance, in March 2022, according to an Economic and Market Report shared by The European Automobile Manufacturers Association, a Belgium-based lobbying and standards group for the automobile industry in the European Union, the total number of cars produced climbed by 2.7% to 63.2 million. Sales of passenger cars in the US increased by 5.5% from 2020 to 11.9 million units last year. Chinese automakers produced 20.7 million vehicles in 2017, an increase of 7.1%. In the EU, 1.8 million commercial cars were registered in 2021, an increase of 9.6% over the previous year. EU van sales grew by 8.5% to over 1.6 million units in the previous year. Therefore, the rapid growth of the automotive industry is driving the growth of the industrial diamond market. The industrial diamond market was valued at $4.8 billion in 2023 and is expected to expand to $8.2 billion by 2028.

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Global Industrial Cleaning Chemicals Market Segments

The global industrial diamond market covered in this report is segmented –
1) By Type: Natural, Synthetic
2) By Application: Semiconductor, Aerospace, Aviation Industry, Other Applications
3) By End-user: Construction, Mining Services, Stone Cutting Or Polishing, Machinery Manufacturing, Transportation Systems, Other End Users
By Geography: The regions covered in the industrial cleaning chemicals market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Asia-Pacific was the largest region in the industrial diamond market share in 2023. The regions covered in the industrial diamond market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Major Industrial Cleaning Chemicals Industry Players

ALROSA PJSC, Industrial Diamond Laboratories Inc., Applied DiamondX Inc., De Beers Inc., Industrial Abrasives Ltd., 3M COMPANY, Toolgal Industrial Diamonds Ltd., INVEDIA Ltd., Scio Diamond Technology Corporation, Toolgal Diamond Tools Ltd., Hebei Plasma Diamond Technology Co. Ltd., Schlumberger Limited, Nixon Industrial Diamonds Ltd., Advanced Diamond Technologies Inc., Iljin Diamond Co. Ltd., Element Six UK Ltd., Sumitomo Electric Industries Ltd., Henan Huanghe Whirlwind Co. Ltd., Zhongnan Diamond Co. Ltd., Zhengzhou Sino-Crystal Diamond Co. Ltd., Synthetic Diamond Company List Adamas One Corp., New Diamond Technology, Pure Grown Diamonds, Swarovski AG, Sandvik AB, Saint-Gobain S.A, Asahi Diamond Industrial Co. Ltd., E. I. du Pont de Nemours and Company, Henkel AG & Co. KGaA, Morgan Technical Ceramics

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Industrial Cleaning Chemicals Market Overview

Industrial diamonds are a crystalline form of carbon intended for use as a cutting tool or abrasive in the industrial sector. They are irregularly shaped, poorly coloured, or too small to be valuable as gems, but they are significant in the industrial metalworking and mining industries.

Industrial Cleaning Chemicals Global Market Report 2023 provides data on the global industrial cleaning chemicals market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The industrial cleaning chemicals market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.