Overview and Scope
An industrial degreaser is a cleaning solution designed to remove oils, lubricants, waxes, and other forms of dirt from surfaces, particularly in industrial settings. Industrial degreasers are widely used to clean machinery, equipment, tools, and industrial components.
Sizing and Forecast
The industrial degreaser market size has grown strongly in recent years. It will grow from $20.17 billion in 2023 to $21.43 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to industry-specific customization, market demand for water-based solutions, focus on regulatory compliance, bio-based and solvent-free solutions, environmental regulations.
The industrial degreaser market size is expected to see strong growth in the next few years. It will grow to $26.12 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to continued regulatory emphasis, growing sustainability awareness, enhanced packaging sustainability, market expansion of water-based solutions, increasing demand for customized solutions. Major trends in the forecast period include bio-based and solvent-free solutions, advanced technology integration, water-based degreasers, packaging innovations, technological advancements.
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Segmentation & Regional Insights
The industrial degreaser market covered in this report is segmented –
1) By Type : Water-Based, Solvent BasedBy Grade
2) By Liquid-Based, Petroleum-Based, Bio-Based, Other Grades
3) By Application: Automative, Manufacturing, Pharmaceutical, Aviation, Other Applications
North America was the largest region in the industrial degreaser market in 2023. The regions covered in the industrial degreaser market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising automotive production is expected to propel the growth of the industrial degreaser market going forward. Automotive production refers to manufacturing motor vehicles, including passenger automobiles, light trucks, and commercial vehicles. This involves creating the vehicle’s concept, design, and specifications, including its appearance, performance, and safety features. Industrial degreasers in the automotive industry facilitate the cleaning and maintenance of vehicle parts. The automotive sector widely adopts degreasers for cleaning and maintaining various components of vehicles. For instance, in May 2023, according to the European Automobile Manufacturers’ Association (ACEA) a lobbying and standards group of the automobile industry, in 2022, 85.4 million motor vehicles were produced worldwide, an increase of 5.7% compared to 2021. Therefore, the rising automotive production is driving the growth of the industrial degreaser market.
Key Industry Players
Major companies operating in the industrial degreaser market report are 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., PETROFER Chemie H. R. Fischer GmbH + Co. KG
The industrial degreaser market report table of contents includes:
1. Executive Summary
2. Industrial Degreaser Market Characteristics
3. Industrial Degreaser Market Trends And Strategies
4. Industrial Degreaser Market – Macro Economic Scenario
5. Global Industrial Degreaser Market Size and Growth
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32. Global Industrial Degreaser Market Competitive Benchmarking
33. Global Industrial Degreaser Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Industrial Degreaser Market
35. Industrial Degreaser Market Future Outlook and Potential Analysis
36. Appendix
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