Chemical as a Service Market to Surpass USD 13.50 Billion by 2032 with a 7.96% CAGR | Research by SNS Insider

Chemical as a Service Market Expands with Sustainability Focus, Cost Efficiency, and Growing Industry Demand in Emerging and Developed Markets.

AUSTIN, TX, UNITED STATES, February 5, 2025 /EINPresswire.com/ -- According to report by SNS Insider, the size of the Chemical as a Service Market was valued at USD 9.07 billion in 2023 and is expected to reach USD 13.50 Billion by 2032 at a compound annual growth rate of 7.96% over the forecast period 2024-2032.

The increasing demand for economic and sustainable solutions across industries is the main factor expected to drive the growth of the Chemical as a Service market over the forecast period. Traditional chemical procurement models are making way for service-based models characterized by scale, efficiency, and waste reduction.

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Key Players:

- Henkel AG & Co. KGaA
- CSC JÄKLECHEMIE GmbH & Co. KG.
- Safechem Europe Gmbh
- Diversey Holdings Ltd.
- Ecolab Inc.
- Polikem
- BASF SE
- Hydrotechnik
- Haas TCM
- PPG Industries
- Quaker Chemical
- Spheres

North America accounted for a share of around 34.47% by value in 2023.

North America region dominated with the market share over 47%in 2023, with pivotal US contributing towards the growth. The country has well-established chemical industry as a strong foundation, service providers have access to expertise and resources. The U.S. also has major players in industries from automotive, aerospace, and healthcare well-positioned to adopt chemical as a service for applications including cleaning and degreasing. The model has become a preferred choice because of its convenience, cost-effectiveness, and environmental benefits that industries want to pursue to improve efficiency and streamline operations.

Market Segmentation

By Application
- Agriculture & Fertilizer
- Water Treatment & Purification
- Metal Parts Cleaning
- Paint & Coatings
- Industrial Cleaning
- Industrial Gases
- Others

By Application, the Industrial cleaning segment dominated with a market share of over 31.96% in 2023. 

This chemical-as-a-service model has existed for some time initially providing cleaning of vessels, pipes, reactors, and metal parts. More and more industrial operators are realizing the economic and practical benefits of this approach. Instead of paying for chemicals and organizing labor for cleaning, organizations would now rather subscribe to a service provider that covers the entire process, saving on costs but also improving operational productivity.

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Recent Development

- In October 2023: Sumitomo Chemical launched its proprietary generative AI service, ChatSCC, utilizing ChatGPT technology. This AI service is aimed at boosting productivity within the company and enhancing the competitiveness of its existing businesses. ChatSCC is designed to foster new business models by optimizing processes and leveraging AI to improve operational efficiency.
- In October 2023: ICIS introduced the Pyrolysis Oil Pricing Indexes in response to the increasing consumer demand for chemical recycling outputs. This launch addresses the need for greater pricing transparency in the pyrolysis oil market, a key component of the growing recycling sector.

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