SEATTLE--(BUSINESS WIRE)--The global disinfectants market was valued around US$ 30 billion, in terms of revenue in 2019 and is expected to exhibit a CAGR of 6.0% over the forecast period (2020-2027).
Key Trends and Analysis:
The global disinfectants market has witnessed rapid growth in terms of revenue in the past few years owing to the rising demand for rising consumer awareness regarding infectious diseases, owing to outbreak of various contagious diseases during recent times. In addition to this, implementation of stringent regulations by government in order to provide safe drinking water and reduce the spread of water-borne diseases. This scenario is expected to foster the growth of the global disinfectants market during the forecast period.
Key Market Takeaways:
The global disinfectants market is expected to exhibit a CAGR of 6.0% over the forecast period (2020-2027). In 2019, North America held the dominant position in the global disinfectants market. Significant prevalence of Hospital Acquired Infections (HAIs) including urinary tract infections, surgical site infections, bloodstream infections, respiratory pneumonia, and skin infections in the region has driven the growth of the global disinfectants market in recent few years.
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Increasing incidence of infectious disease is considered as one of the major factor, fuelling the growth of the market. For instance, according to World Health Organization (WHO), the outbreak of Coronavirus (COVID-19) Pandemic in December 2019, which has affected the global economy and has affected 80 million people across the globe. For instance, on 9th June 2020, the Defence Institute of Advanced Technology (DIAT) in Pune, developed a nano-technology based disinfectant spray named Ananya, to stop the spread of Covid-19. The formulation can be for disinfecting various types of surfaces and products such as masks, PPEs, hospital linens, and other likely contaminated surfaces like medical instruments, elevator buttons, door knobs, corridors and rooms. Such product innovations are expected to augment the growth of the global disinfectants market during the forecast period.
Companies engaged in manufacturing of disinfectants are adopting different strategies such as mergers and acquisitions, in order to expand their product portfolio and their market presence globally. For instance, on 2nd June 2020, Drury Hotels, a Missouri-based family-owned hotelier with more than 150 properties across 27 locations, announced their partnership with Ecolab, a global leader which provides water, hygiene and infection prevention solutions and services, in order to enhance cleaning procedures and protocols for keeping guests and employees safe.
Leading companies involved in the production and distribution of disinfectants are focusing on strategies such as expansions of production lines owing to the rapidly growing demand for Disinfectants in the past few years. For instance, on 3rd June 2020, Ecolab’s AdvaCare Disinfectant, received the first approval from the U.S. Environmental Protection Agency (EPA) for laundry disinfectant. The concentrated formulation is permitted for usage in commercial and industrial laundry operations.
Major players operating in the global disinfectants market are—
Solvay S.A., Unilever Group, Evonik Industries AG, 3M Company, Procter & Gamble Corporation, DowDuPont Inc., Lanxess AG, BASF S.E., The Clorox Company, and Reckitt Benckiser Plc.
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Global Disinfectants Market, By Product Type:
- Sodium Hypochlorite
- Chlorine Dioxide
- Hydrogen Peroxide
- Peracetic Acid
- Quaternary Ammonium Compounds
- Oxidizing Agents
Global Disinfectants Market, By End-Use Industry:
- Hospitals and Clinics
- Diagnostic Laboratories
- Pharmaceutical and Biotechnology Companies
- Academic and Research Institutes
- Food & Beverages
- Chemical Processing Industry
Global Disinfectants Market, By Geography:
- Rest of Latin America
- Rest of Europe
- Australia & New Zealand
- Rest of the Asia-pacific
Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- North America
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