Disinfectants Market Is Estimated To Be Valued At US$ 60 Mn In 2022 And Is Expected To Exhibit A CAGR Of 6.0% Over The Forecast Period 2020-2027, As Highlighted In A New Report Published By Coherent Market Insights.
Market Overview: The disinfectants market primarily includes various products used to eliminate harmful microorganisms and maintain a clean and safe environment. Disinfectants find extensive application in healthcare facilities, food processing plants, households, and other institutions where hygiene and sanitization practices are crucial. These products are available in various forms such as liquids, sprays, wipes, and granules, providing convenience and efficient cleaning solutions. With the growing awareness regarding the transmission of diseases through contaminated surfaces, the demand for disinfectants is expected to witness significant growth in the forecast period.
Market Dynamics: The disinfectants market is driven by two major factors. Firstly, the increasing emphasis on personal hygiene and sanitization practices, especially in the healthcare sector, is expected to drive market growth. Additionally, the rising occurrence of infectious diseases and outbreaks, such as the recent COVID-19 pandemic, has further amplified the demand for disinfectants in both healthcare and non-healthcare settings. Furthermore, the growing awareness regarding the importance of cleanliness and hygiene among the general population is also contributing to the market growth. However, the presence of alternative products and stringent regulations related to the use of certain chemicals in disinfectants may hinder market growth to some extent.
Segment Analysis:
The disinfectants market can be segmented based on product type, application, and end-user. In terms of product type, the dominating segment is the chemical disinfectants. This is because chemical disinfectants are widely used across various industries such as healthcare, food and beverage, and household, due to their effectiveness in killing a wide range of bacteria and viruses. Furthermore, chemical disinfectants have a longer shelf life compared to other types of disinfectants, making them a preferred choice for long-term use.
PEST Analysis:
Political: The disinfectants market is influenced by various regulations and guidelines imposed by governmental bodies. For instance, healthcare facilities are required to follow strict disinfection protocols to ensure patient safety.
Economic: The economic stability of a region greatly impacts the demand for disinfectants. A stable economy leads to increased healthcare expenditure and higher demand for disinfectants in hospitals and clinics.
Social: Growing awareness about the importance of hygiene and cleanliness among the general population is driving the demand for disinfectants in households and public spaces.
Technological: Advancements in technology have led to the development of more effective and eco-friendly disinfectants. For instance, the use of ultraviolet (UV) light for disinfection purposes has gained popularity due to its ability to eliminate pathogens without the use of chemicals.
Key Takeaways:
The global Disinfectants Market Size is expected to witness high growth, exhibiting a CAGR of 6.0% over the forecast period (2020-2027), due to increasing awareness about the importance of hygiene and cleanliness, especially in healthcare settings. The chemical disinfectants segment is expected to dominate the market due to its wide range of applications and longer shelf life.
In terms of regional analysis, North America is anticipated to be the fastest-growing and dominating region in the disinfectants market. This can be attributed to strict regulations on healthcare-associated infections (HAIs) and the presence of key market players in the region.
Key players operating in the disinfectants market include 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. These companies are focusing on product innovation and strategic partnerships to gain a competitive edge in the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
