The global Surface
Disinfectant Market size is
expected to reach USD 8.23 billion by 2028, according to a new
report by Grand View Research, Inc. It is expected to expand at a CAGR
of 7.7% from 2021 to 2028. BASF SE, Procter & Gamble, Evonik Industries, 3M Company are some of the key players in this industry.
The market is driven by the increasing disease outbreak worldwide, coupled with
the growing implementation of regulations in medical hygiene.
There is a spiraling demand for
superior-quality surface disinfectant products due to the growing requirement
to improve hygiene in ambulatory surgical centers, clinics, and hospitals to inhibit
the spread of infections, including COVID-19, among staff and patients. The
market is also driven by the growing number of laboratories and rising
awareness among people about personal hygiene. Furthermore, various governments
in North America and Europe have implemented stringent regulations concerning
the use of chemical-based formulations and their discharge processes.
However, the market growth is
likely to be restricted due to the toxicity of chemical-based products. Surface
disinfectants consist of chemical substances, which when used properly as per
guidelines yield excellent results. They help prevent the occurrence and
transmission of diseases. However, the use of these products can pose a threat
to humans as well as animals and lead to environmental hazards. Incomplete
knowledge regarding the proper use and the health hazards associated with these
products can pose a potential threat to industry growth.
However, the growing adoption of
novel and advanced technologies by manufacturers for producing disinfectants
with enhanced effectiveness and the shift in the trend toward biobased products
are expected to promote the overall market growth globally over the foreseeable
future.
In terms of the supply and demand
equation on a global scale, manufacturers are inclined toward raw material
procurement at competitive pricing. Raw material procurement involves engaging
in long-term supply contracts with raw material suppliers. Some of the
independent manufacturers hire third-party suppliers to sell their products.
Disinfectant manufacturers are increasingly focused on product innovation and
differentiation as they are steadily moving toward consolidation through
mergers & acquisitions, joint ventures, and collaborative partnerships.
Related Press Release@ Surface
Disinfectant Market Report
Surface Disinfectant Market Report
Highlights
- Prices of chemicals used for
manufacturing surface disinfectants, such as hydrogen peroxide,
glutaraldehyde, cresylic acid, castor oil, sodium hypochlorite,
aldehyde, sulfonic acids and salts, and pine oil, are volatile in nature
and prone to sudden hikes due to the changing demand landscape
- In terms of revenue, the chemical product
type segment accounted for the largest share in 2020 and is further
expected to witness steady growth over the forecast period
- By form, sprays are poised to register
the fastest volumetric growth rate over the forecast period due to
increasing innovations by industry participants backed by consumer
purchasing pattern
- As of 2020, North America accounted for
the largest revenue share. Increasing focus on public sanitization,
coupled with household hygiene practices, is assisting industry growth in
the region
- Increasing mergers & acquisitions and
new product development by key industry participants are anticipated to
pave way for higher demand for surface disinfectant products worldwide for
the next couple of years
About Us:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
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Grand View Research, Inc
Phone: 1-415- 349-0058
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Email: sales@grandviewresearch.com
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