USD 5.49 billion
Report ID:
SQMIG15A2092 |
Region:
Global |
Published Date: April, 2024
Pages:
184
|Tables:
92
|Figures:
80
Surface Disinfectant Market size was valued at USD 5.88 Billion in 2023 and is poised to grow from USD 6.3 Billion in 2024 to USD 10.9 Billion by 2032, growing at a CAGR of 7.10% during the forecast period (2025-2032).
An anti-microbial substance known as a surface disinfectant is used to eliminate any viruses or microorganisms that may be present on various surfaces. The rise in demand for disinfectants for use in livestock farms is one reason for the expansion, along with changes in lifestyle in emerging nations' economy and livestock farmers' awareness of animal diseases. Due to the COVID-19 epidemic, which caused numerous industrial centers and factories to close globally, there has been a major decrease in demand for raw materials and active chemicals. There has been a mismatch between supply and demand as a result of several factories operating at lower capacity or possibly shutting down. Nonetheless, an increase in the need for cleaning supplies, sanitizers, and disinfectants is anticipated to benefit market expansion. The by-products of the petroleum industry make up the majority of the raw materials utilized in the manufacture of surface disinfectants. These raw ingredients are generally sourced locally by firms in China, North America, and the developed economies of Europe. The industry has recently noticed a movement in the employment of biodegradable surface cleaners as a means of reducing toxicity caused by chemicals. Biodegradable surface disinfectants can be made from less expensive, more readily available raw ingredients. Surface disinfectants have seen a small to moderate price increase; nevertheless, the COVID-19 pandemic's unexpected increase in demand has led to supply constraints, which have further increased prices in 2020 and may continue at least into the first half of 2021.
The demand for the product has increased due to the strict regulatory standards for disinfection in commercial, industrial, and institutional sectors. Surface disinfectants contain a variety of chemical components that, when used according to instructions, produce outstanding results. They aid in stopping the spread and occurrence of numerous diseases. They, however, have the potential to be detrimental to both people and animals and ultimately cause environmental issues. The expansion of the industry may be threatened by incomplete understanding regarding the safe application of surface disinfectants and the health risks connected to these products.
US Surface Disinfectant Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 5.49 billion
Largest Segment
Liquids
Fastest Growth
Liquids
Growth Rate
7.10% CAGR
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Global Surface Disinfectant Market is segmented based on type, formulation, end-use, and region. Based on type the market is segmented into Quaternary Ammonium Compounds, Hypochlorite, Alcohols, Aldehydes, Other. Based on formulation the market is segmented into liquids, wipes, and sprays. Based on end-use the market is segmented into Hospitals & Clinics, Outpatient Surgical Centers, and Other. Based on region the global market is segmented into North America, Europe, Asia-Pacific, Latin America, and MEA.
Analysis by Formulation
During the projected period, the liquids segment dominated the Surface Disinfectant market in 2022. This is attributable to increased usage of liquid surface disinfectants, which are being applied in more hospitals, homes, hotels, schools, malls, and other places, as well as increased market demand for surface disinfectants. Global market growth rate increased during the projection period due to improved antimicrobial capabilities and improved microbe killing using liquid-based cleaning solutions. The highest market growth and higher revenue share are attributed to liquid surface disinfectants, such as sodium hypochlorite, a liquid disinfectant with a lower risk of disease transmission.
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The North America region is anticipated to dominate the market. This is because so many regulatory agencies, including the Health Canada and U.S. Environmental Protection Agency (EPA), have given their approval for the use of disinfection products in their respective nations. The market expansion in North America over the past several years has been driven by the constantly changing legislation, awareness of health & hygiene, healthcare spending, and increased R&D activity among surface disinfectant formulators, raw material manufacturers, and end-users. In Europe, the market has seen a rise in demand as a result of the pandemic. To fulfill the growing demand and supply the local healthcare institutions, many large international corporations are consistently growing their presence in the area by establishing numerous production and manufacturing facilities there. Also, the market in the region has grown due to technological and R&D developments in production technologies. The region's increasing demand for products, especially during the COVID-19 pandemic, has a significant positive impact on product consumption. The availability of affordable active ingredients has sped up market expansion both domestically and abroad.
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Drivers
Restraints
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Due to the existence of many multinationals competing to meet the high demand from a sizable base of end-users and consumers, the competitive landscape of the market is extremely fragmented. Important businesses are concentrating on using new marketing tactics and utilizing cutting-edge technologies to expand their customer base. By increasing their productivity, operational effectiveness, and lead time reduction, manufacturers are concentrating on controlling and optimizing supply efficiency and remaining competitive in the market. Many businesses now make biobased surface disinfectants as a result of rising consumer awareness of the toxicity of chemical-based treatments and rising disposable incomes among the majority of people in industrialized economies.
Top Player’s Company Profiles
Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global Surface Disinfectant market analysis, increasing awareness of infectious diseases, growing healthcare industry, and rise in the number of surgical procedures, increasing demand from the food and beverage industry and technological advancements are several factors are driving the market growth.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 5.49 billion |
Market size value in 2031 | USD 10.18 billion |
Growth Rate | 7.10% |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
Recent Developments
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Surface Disinfectant Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Surface Disinfectant Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Surface Disinfectant Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Surface Disinfectant Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG15A2092
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