Global Industrial Degreaser Market Sees Increasing Demand for Eco-Friendly Products

Dublin, Dec. 24, 2021 (GLOBE NEWSWIRE) -- The "Industrial Degreaser Market - Global Outlook & Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.

The growing end-user industries such as automotive, marine & defense, aerospace, pharmaceuticals, oil & gas, and agriculture are expected to support the industrial degreaser's market growth.

The market is moving towards more environment-friendly and zero to low VOCs in products, determining market leadership in a competitive scenario. The solvent-based cleaning agent is gaining popularity owing to its usage of removing unwanted materials from motors or machines and increasing the shelf life of these materials. End-users widely adopt these cleaning products due to new technologies in the industry cleaning services market. The cheap labor and easily accessible raw materials are shifting automotive manufacturers such as Chevrolet, Audi, Volvo, and others to establish their plants in the APAC region, driving the market for industrial degreasers.

The following factors are likely to contribute to the growth of the industrial degreaser market during the forecast period:

• Growing Industrialization in Emerging Economy

• Rising Automotive Production and Sale

• Increasing Demand for Eco-Friendly Products

• Supporting Government Regulations

The study considers the present scenario of the industrial degreaser market and its market dynamics for the period 2020-2026. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent ones operating in the market.

This research report includes a detailed segmentation by

• Type

• Grade

• Application

• Geography

SEGMENTATION ANALYSIS

• The water-based segment will witness incremental growth of USD 3,914.09 million by 2026. In North America and Europe, the limitation of VOCs content products is increasing the development of water-based cleaning solvents products in the region. The global water-based market is growing at a CAGR of 5.78% during the forecast period. The water-based solutions are safer and more environment-friendly choice, thereby fueling the growth of the industrial cleaning services market.

• The global liquid-based industrial degreaser market is expected to reach USD 9,100.94 million by 2026. The liquid-based degreaser is the largest market worldwide. The liquid-based solutions are safe and can be handled easily. The demand for liquid-based products will be high in the forecast period.

• In 2020, the global industrial degreaser market by manufacturing industry was valued at USD 4,225.24 million. With the rapid change in the business environment and advancement in technology, the manufacturer is investing in automation of the manufacturing process. The growing manufacturing industry across the globe is supporting the growth of industrial degreaser. The Asian market, especially China, is the largest manufacturing industry, which is further expected to boost the demand for industrial cleaning products.

• The US is the world's largest market for degreaser, and it is driven by a high degree of automation. The US shares a significant contribution to the North American industrial degreaser market. The rising of the pharmaceutical industry across the country is driving the growth of the industry. The increasing government regulations in North America support increased demand for degreasers and other cleaning products. The degreaser market in North America will grow at a CAGR of 5.88% during the forecast period.

Segmentation by Type

• Water-Based

• Solvent-Based

Segmentation by Grade

• Liquid-Based

• Petroleum Based

• Bio-Based

• Others

Segmentation by Application

• Automotive

• Manufacturing

• Pharmaceutical

• Aviation

• Others

Segmentation by Geography

• North America

• US

• Canada

• Europe

• Germany

• UK

• France

• Italy

• Spain

• Russia

• APAC

• China

• India

• Japan

• Australia

• South Korea

• Latin America

• Brazil

• Mexico

• Middle East & Africa

• Saudi Arabia

• UAE

• South Africa

VENDOR LANDSCAPE

BASF, Dow Chemical, Evonik Industries, 3M are the major vendors in the global industrial degreaser industry. The rapid change in market dynamics regarding product innovation and advancement is acting as a catalyst to intensify the competition among existing players in the industry. Vendors are expected to develop new technologies and remain abreast with upcoming innovations to have a competitive advantage over other vendors. Sustainability is the critical strategic approach in giving a competitive edge.

Key Company Profiles

• BASF

• Dow Chemical Company

• Evonik Industries

• 3M

• Valvoline Inc

Other Prominent Vendors

• Superior Industries Inc.

• CarrollCLEAN

• Callington Heaven

• Betco

• Superior Industries Inc

• Baron Blakeslee

• Stepan Company

• The Claire Manufacturing Company

• NGCT

• Abro Industries Inc

• BG Products Inc

• Auto Industrial Marine Chemicals Inc

• Elevance Renewable Science

• Radiator Specialty Company

• Superior Industries Inc

• Consolidated System Pte Ltd:

• Superior Industries Inc

• Ravcor Cleaning Solutions

• Avmor Ltd

• Oil Technics Limited

• W. Chesterton Company

For more information about this report visit https://www.researchandmarkets.com/r/7e1kqd

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