Surface Disinfectant Market Future Business Growth by 2027
The global surface disinfectant market is set to gain impetus from the emergence of the COVID-19 pandemic worldwide. It has surged the need for this disinfectant as people are persistently sanitizing the places and objects that are coming into frequent human contact for reducing the impact of the virus. This information is given by Fortune Business Insights™ in a recent report, titled, “Surface Disinfectant Market Size, Share & Industry Analysis, By Type (Aerosol, Gel, Liquid, and Wipe), By Composition (Alcohols, Chlorine Compounds, Quaternary Ammonium Compounds, Hydrogen Peroxide, Peracetic Acid, and Others), By Application (Residential, Commercial, Health Care Facility, and Others), and Regional Forecast, 2020-2027.” The report further states that the global surface disinfectant market size was USD 770.6 million in 2019 and is projected to reach USD 1,547.7 million by 2027, exhibiting a CAGR of 9.1% during the forecast period.
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Drivers & Restraints-
Increasing Prevalence of Hospital-Acquired Infections to Propel Growth
The cases of hospital-acquired infections (HAIs) are expected to surge the demand for surface disinfectants in the near future. These infections mainly occur when the patients are being treated in the hospitals and are not often detected during the admission procedure. The infections associated with the invasive devices and medical equipment consist of ventilator-associated pneumonia, catheter-associated infections, and surgical site infection. However, these disinfectants include a wide range of chemicals, namely, acetic acid, peroxides, and hypochlorite. These are very harmful to human health, as well as to the environment. These factors are expected to hamper the market growth in the coming years.
Fortune Business Insights™ lists out the names of all the manufacturers operating in the global market. They are as follows:
- 3M (U.S.)
- The Proctor & Gamble Company(U.S.)
- Kimberley-Clark Corporation(U.S.)
- SC Johnson Professional(U.S.)
- The Clorox Company(U.S.)
- Ecolab (U.S.)
- Metrex Research LLC(U.S.)
- Reckitt Benckiser (U.K.)
- Diversey Inc.(U.S.)
- STERIS plc (Ireland)
- Whiteley Corporation (Australia)
- Other Key Players
Residential Segment to Grow Steadily Owing to Awareness About Infections
In terms of applications, the market is divided into health care facilities, commercial, residential, and others. Out of these, the residential segment held 16.1% market share in 2019. This growth is attributable to the increasing awareness amongst the populace about the benefits of using surface disinfectants and the spread of several infections. Additionally, the outbreak of the COVID-19 pandemic is rapidly driving the demand for these disinfectants.
Rising Government Laws to Maintain Hygiene will Favor Growth in North America
In 2019, North America procured USD 299.9 million in terms of revenue. This growth is attributable to the increasing number of stringent laws put forward by the governments for maintaining proper sanitation and hygiene at public places, food establishments, and hospitals. Europe is set to experience significant growth stoked by the rising utilization of these disinfectants, especially for household applications. Asia Pacific, on the other hand, is anticipated to exhibit the fastest growth fueled by the increasing expenditure of the governments of numerous countries on public health and cleanliness.
Key Companies Focus on Product Launches & Collaborations to Surge Sales
The market is highly competitive because of the presence of a large number of international and regional companies. Most of them are either following the strategy of joint ventures and partnerships or are investing huge sums to launch novel surface disinfectants in the market. These steps are helping them to gain a competitive edge. Below are two of the latest industry developments:
- January 2019: Reckitt Benckiser joined hands with Diversey to broaden its presence in North America and to reach out to more hospitals, food joints, and educational institutions.
- November 2018: Diversey Inc. launched its one-step cleaner, ready-to-use deodorizer and disinfectant called SureTouch. It contains hydrogen peroxide and was approved by the Environmental Protection Agency (EPA) for effectively cleaning the facilities.
This Report Answers the Following Questions:
- What are the market drivers, hindrances, and dynamics?
- How will the market be affected in the coming years?
- Which strategies are being adopted by prominent companies to intensify competition?
- Which region is expected to lead the market?
- How will the spread of coronavirus infection impact the market?
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