South Korea Industrial and Institutional Cleaning Chemicals Market Size, Share, and COVID-19 Impact Analysis, By Raw Material (Chlor-Alkali, Surfactants, Solvent, Phosphate, Biocides, and Others), By Product (General Purpose Cleaners, Disinfectants & Sanitizers, Laundry Care Products, and Others), By End-Use (Commercial and Manufacturing), and South Korea Industrial and Institutional Cleaning Chemicals Market Insights, Industry Trend, Forecasts to 2033

Industry: Chemicals & Materials

RELEASE DATE Jul 2024
REPORT ID SI5343
PAGES 212
REPORT FORMAT PathSoft

South Korea Industrial and Institutional Cleaning Chemicals Market Insights Forecasts to 2033

  • The South Korea Industrial and Institutional Cleaning Chemicals Market Size was valued at USD 1.05 Billion in 2023.  
  • The Market Sizr is Growing at a CAGR of 6.05% from 2023 to 2033
  • The South Korea Industrial and Institutional Cleaning Chemicals Market Size is expected to reach USD 1.89 Billion by 2033

South Korea Industrial and Institutional Cleaning Chemicals Market

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The South Korea Industrial and Institutional Cleaning Chemicals Market is anticipated to exceed USD 1.89 Billion by 2033, growing at a CAGR of 6.05% from 2023 to 2033. The growing demand for cleaning products, urbanization, consumer awareness about workplace hygiene, and increased prevalence of diseases are driving the growth of the industrial and institutional cleaning chemicals market in South Korea.     

 

Market Overview

Industrial and institutional cleaning chemicals are becoming more and more necessary as a result of consumers' increased awareness of sanitation hygiene factors. Health and hygiene are involved in preserving social dynamics. Thus, there is an implementation of policy-driven architecture to maintain a healthy lifestyle in their society to create a healthy market environment for hand hygiene products due to their wide usage to maintain hygiene, especially at hospitals. Antimicrobial agents included in cleaning chemical products are made to eliminate or kill microscopic organisms that are no longer able to harm humans. Due to their broad spectrum of actions, the majority of cleaning agents are effective against a variety of bacteria. Sanitary services, the food service industry, healthcare facilities, and many more sectors all make extensive use of cleaning chemicals. The widespread utilization of these chemicals and the rising concerns regarding a healthier environment result in enhancing the demand for industrial and institutional cleaning chemicals. Further, the trend for green & bio-based industrial cleaning chemicals and the role of enzymes in detergent products chemicals are leveraging market opportunity. The development of innovative products with enhanced properties in the laundry care chemicals segment is attributed to the growing focus on the preservation of the original colors of fabrics.   

 

Report Coverage

This research report categorizes the market for the South Korea industrial and institutional cleaning chemicals market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korea industrial and institutional cleaning chemicals market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the South Korea industrial and institutional cleaning chemicals market.

 

South Korea Industrial and Institutional Cleaning Chemicals Market Report Coverage

Report CoverageDetails
Base Year:2023
Market Size in 2023 :USD 1.05 Billion
Forecast Period:2023 – 2033
Forecast Period CAGR 2023 – 2033 :6.05%
023 – 2033 Value Projection:USD 1.89 Billion
Historical Data for:2019-2022
No. of Pages:212
Tables, Charts & Figures:110
Segments covered:By Raw Material, By Product, By End-Use
Companies covered:: Procter & Gamble, 3M, BASF SE, The Clorox Company, Reckitt Benckiser Group Plc, Croda International Plc, Solvay, Eastman Chemical Corporation, Huntsman International LLC, Dow, Sasol, Luminus KOREA, Kook Je Industry, Fireball, ISU Chemical, Others
Pitfalls & Challenges:Covid-19 Impact, Challenge, Future,Growth and Analysis

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Driving Factors

The increasing need for cleaning products in commercial and manufacturing sectors is driving up the South Korea industrial and institutional cleaning chemicals market. There is rising spending on general-purpose cleaning products due to rapid urbanization and rising preventative healthcare awareness. Further, the use of institutional cleaning chemicals has increased due to greater consumer awareness of workplace hygiene and rising literacy rates.

 

Restraining Factors

The establishment of stringent guidelines and standards for minimizing the risk of hazards as well as providing a safe and healthy work environment are restraining the market for industrial and institutional cleaning chemicals.

 

Market Segmentation

The South Korea Industrial and Institutional Cleaning Chemicals Market share is classified into raw material, product, and end-use.

 

  • The surfactants segment dominated the market with the largest market share in 2023.

The South Korea industrial and institutional cleaning chemicals market is segmented by raw material into chlor-alkali, surfactants, solvent, phosphate, biocides, and others. Among these, the surfactants segment dominated the market with the largest market share in 2023. Surfactant facilitates easier mixing of two substances, thus lowering their surface tension which facilitates the penetration of cleaning agents and subsequent removal of debris, grease, and other materials from the surface that needs to be cleaned.

 

  • The general purpose cleaners segment dominated the South Korea industrial and institutional cleaning chemicals market in 2023.       

Based on the product, the South Korea industrial and institutional cleaning chemicals market is divided into general purpose cleaners, disinfectants & sanitizers, laundry care products, and others. Among these, the general purpose cleaners segment dominated the South Korea industrial and institutional cleaning chemicals market in 2023. General purpose cleaners, composed of solvents, surfactants, and chelants are broadly used to clean hard floor surfaces of dirt and oil-based stains. The rising application of these chemicals as well as the availability of various cleaning products are propelling the market.

 

  • The commercial segment accounted for the largest revenue share of the South Korea industrial and institutional cleaning chemicals market in 2023.

Based on the end-use, the South Korea industrial and institutional cleaning chemicals market is divided into commercial and manufacturing. Among these, the commercial segment accounted for the largest revenue share of the South Korea industrial and institutional cleaning chemicals market in 2023. Cleaning chemicals products have extensive demand in foodservices, healthcare, laundry care, retail, and various other commercial sectors. The increased need for disinfectant products for all-around hygiene is propelling the market demand.  

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea industrial and institutional cleaning chemicals market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Key Companies

  • Procter & Gamble
  • 3M
  • BASF SE
  • The Clorox Company
  • Reckitt Benckiser Group Plc
  • Croda International Plc
  • Solvay
  • Eastman Chemical Corporation
  • Huntsman International LLC
  • Dow
  • Sasol
  • Luminus KOREA
  • Kook Je Industry
  • Fireball
  • ISU Chemical
  • Others

 

Key Target Audience

  • Market Players
  • Investors
  • End-users
  • Government Authorities 
  • Consulting And Research Firm
  • Venture capitalists
  • Value-Added Resellers (VARs)

 

Recent Developments

  • In October 2023, Dow, Sasol launched eco-surfactants. Dow developed EcoSense 2470 Surfactant with carbon recycling company LanzaTech Global, which recovers waste carbon and then transforms it into ethanol and onto surfactant ingredients.

 

Market Segment

This study forecasts revenue at South Korea, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the South Korea Industrial and Institutional Cleaning Chemicals Market based on the below-mentioned segments:

 

South Korea Industrial and Institutional Cleaning Chemicals Market, By Raw Material

  • Chlor-Alkali
  • Surfactants
  • Solvent
  • Phosphate
  • Biocides
  • Others

 

South Korea Industrial and Institutional Cleaning Chemicals Market, By Product

  • General Purpose Cleaners
  • Disinfectants & Sanitizers
  • Laundry Care Products
  • Others

 

South Korea Industrial and Institutional Cleaning Chemicals Market, By End-Use

  • Commercial
  • Manufacturing

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