Demand for Cleaning Chemicals to Reach $11 Billion in 2016
Demand in the US for industrial and institutional (I&I) cleaning chemicals is projected to increase 3.7 percent per year to $11 billion in 2016. This represents a considerable improvement over the 2006-2011 period, when nearly every market struggled and a few registered outright declines.
But as the economic recovery continues to gain momentum, manufacturing activity will rebound and patronization rates of commercial establishments will increase — boosting demand for products used to clean restaurants, hotels and other commercial facilities. These and other trends are presented in Industrial & Institutional (I&I) Cleaning Chemicals, a new study from The Freedonia Group, Inc.
The manufacturing segment is projected to register the fastest growth in demand for I&I cleaning chemicals through 2016, based in large part on sustained growth in food and beverage processing, which accounts for the majority of consumption in manufacturing. Smaller industrial markets, such as fabricated metal processing, are also expected to post rapid gains. In the institutional segment, health care will remain the largest market and by far the fastest growing. In the large commercial segment, growth in demand will be somewhat slower, due mostly to the overall maturity of such markets as foodservice, laundry and dry cleaning, offices, and retail outlets. However, the hotel and lodging market will post above average growth due to increases in the number of establishments and increased patronage rates associated with the improving economy.
Through 2016, disinfectants and sanitizers are projected to post the fastest gains among product types, in part due to their intensive use in the fast-growing health care market. However, increased concern about contamination of food and other products will also drive demand for disinfectants, as well as associated products such as specialized hand cleansers, both to prevent the effects of contamination on finished products and to avoid potential liability issues.
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