Industrial Degreaser Market Poised for Growth, Expected to Reach $26.12 Billion by 2028
Industrial Degreaser Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033
LONDON, GREATER LONDON, UK, June 21, 2024 /EINPresswire.com/ -- The industrial degreaser market size has grown strongly in recent years and is projected to expand from $20.17 billion in 2023 to $21.43 billion in 2024, at a compound annual growth rate (CAGR) of 6.2%. Despite challenges, the market is anticipated to reach $26.12 billion by 2028, driven by the increasing demand for effective cleaning solutions across various industries.
Rising Automotive Production Drives Market Growth
The rising automotive production is a significant factor contributing to the growth of the industrial degreaser market. Automotive production involves the manufacturing of motor vehicles, including passenger automobiles, light trucks, and commercial vehicles. Industrial degreasers facilitate the cleaning and maintenance of vehicle parts, ensuring optimal performance and longevity. For instance, according to the European Automobile Manufacturers' Association (ACEA), 85.4 million motor vehicles were produced worldwide in 2022, a 5.7% increase compared to 2021. This surge in automotive production is propelling the demand for industrial degreasers.
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Industrial Degreaser Market Key Players2 and Market Trends
Major companies operating in the industrial degreaser market include BASF SE, The Dow Chemical Company, 3M, Henkel AG & Co. KGaA, The Sherwin-Williams Company, Evonik Industries, Emerson Industrial Automation, Ecolab Inc., DuPont de Nemours, Inc., Akzo Nobel N.V., Eastman Chemical Company, Clariant AG, Diversey, Inc., Stepan Company, Quaker Chemical Corporation, Superior Industries Inc., Valvoline Inc., RUST-OLEUM, A.W. Chesterton Company, Castrol, Aervoe Industries, Inc., Sunburst Chemicals, Inc., NCH Corporation, QualiChem, Inc., and PETROFER Chemie H. R. Fischer GmbH + Co. KG.
Trends in the Industrial Degreaser Market
Major trends in the forecast period include the development of bio-based and solvent-free solutions, integration of advanced technology, innovations in water-based degreasers, and packaging advancements. For example, Molyslip launched SLIPCLEAN RD in July 2023, a high-purity hydrocarbon and alcohol-based cleaner and degreaser designed to remove various industrial soils and impurities. This innovative product highlights the industry's drive towards enhanced cleaning efficiency and sustainability.
Industrial Degreaser Market Segments3:
• By Type: Water-Based, Solvent Based
• By Grade: Liquid-Based, Petroleum-Based, Bio-Based, Other Grades
• By Application: Automotive, Manufacturing, Pharmaceutical, Aviation, Other Applications
Geographical Insights: North America Leading the Market
North America was the largest region in the industrial degreaser market in 2023. The report covers regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, providing detailed insights into regional dynamics, market trends, and growth opportunities.
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Industrial Degreaser Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Industrial Degreaser Global Market Report 2024 by The Business Research Company1 is the most comprehensive report that provides insights on industrial degreaser market size, industrial degreaser market drivers and trends, industrial degreaser market major players, competitors' revenues, market positioning, and market growth across geographies. The industrial degreaser market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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