South Korea Industrial And Institutional Cleaning Chemicals Market Size & Outlook
South Korea industrial and institutional cleaning chemicals market, 2018-2030 (US$M)
Related Markets
South Korea industrial and institutional cleaning chemicals market highlights
- The South Korea industrial and institutional cleaning chemicals market generated a revenue of USD 895.6 million in 2023 and is expected to reach USD 1,554.7 million by 2030.
- The South Korea market is expected to grow at a CAGR of 8.2% from 2024 to 2030.
- In terms of segment, surfactants was the largest revenue generating raw material in 2023.
- Solvents is the most lucrative raw material segment registering the fastest growth during the forecast period.
Industrial and institutional cleaning chemicals market data book summary
| Market revenue in 2023 | USD 895.6 million |
| Market revenue in 2030 | USD 1,554.7 million |
| Growth rate | 8.2% (CAGR from 2023 to 2030) |
| Largest segment | Surfactants |
| Fastest growing segment | Solvents |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Chlor-Alkali, Surfactants, Solvents, Phosphate, Biocides |
| Key market players worldwide | Procter & Gamble Co, Basf SE, Clariant AG, The Clorox Company, Henkel AG & Co KGaA, 3M Co, Kimberly-Clark Corp, Reckitt Benckiser Group PLC, Croda International PLC, Albemarle Corp, Eastman Chemical Co, Huntsman Corp, Stepan Co, Westlake Corp, Solvay SA, Dow Inc, Sasol |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.2% of the global industrial and institutional cleaning chemicals market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China industrial and institutional cleaning chemicals market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 3,582.1 million by 2030.
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Industrial And Institutional Cleaning Chemicals Market Scope
Industrial And Institutional Cleaning Chemicals Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea industrial and institutional cleaning chemicals market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to industrial and institutional cleaning chemicals market will help companies and investors design strategic landscapes.
Surfactants was the largest segment with a revenue share of 28% in 2023. Horizon Databook has segmented the South Korea industrial and institutional cleaning chemicals market based on chlor-alkali, surfactants, solvents, phosphate, biocides covering the revenue growth of each sub-segment from 2018 to 2030.
South Korea relies on imports to meet its fossil fuel consumption because of insufficient domestic resources. However, manufacturing sector has driven the country’s economic development. The country’s growing automotive, steel and electronic sector majorly employs the population. Therefore, industrial cleaning and maintenance is done on high scale.
Also, the country’s economy rebounded in the month of September after Covid-induced recession followed by increased demand for ethanol for sanitizer formulations. Furthermore, the country announced Green New Deal in response to Covid-19 which indicates their intention to invest in green industries and businesses, this in turn is projected to foster the demand for biodegradable cleaning chemicals in the country.
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Target buyers of South Korea industrial and institutional cleaning chemicals market databook
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Our clientele includes a mix of industrial and institutional cleaning chemicals market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the South Korea industrial and institutional cleaning chemicals market , including forecasts for subscribers. This country databook contains high-level insights into South Korea industrial and institutional cleaning chemicals market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
South Korea industrial and institutional cleaning chemicals market size, by raw material, 2018-2030 (US$M)
South Korea Industrial And Institutional Cleaning Chemicals Market Outlook Share, 2023 & 2030 (US$M)
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