The competitive landscape in the global surface disinfectant market is quite fragmented due to low entry barriers, states Transparency Market Research. Leading players challenging the competitive landscape are focused on ensuring affordability of products to maintain a strong footing. In the coming years, companies are expected to invest in developing and commercializing disinfectants that offer rapid action for dealing with wider range of harmful microbes. Mergers and acquisitions will also remain an important trend in the global surface disinfectants market as players will look at expanding their horizons. Analysts have picked out DuPont, Kimberly-Clark, 3M Company, Henry Schein, Procter & Gamble, and Johnson & Johnson Services Inc as some of the leading players in the global market for surface disinfectants.
According to the research report, the global surface disinfectant market is expected to be worth US$1.77 bn by the end of 2024 from US$802.9 mn in 2016. During the forecast years of 2016 and 2024, the global market for surface disinfectants is expected to surge at a CAGR of 10.4%. Out of the various products available in the global market, the demand for sodium hypochlorite-based disinfectants is projected to remain high. Its affordability and widening applications are expected to improve its demand in the coming years. From a geographic point of view, consumption of surface disinfectant across Asia Pacific has been the highest. Between the years of 2015 and 2025, the Asia Pacific surface disinfectant market is projected exhibit a steady CAGR of 11.3%.
Need to Avoid Infections and Epidemics Results in High Demand for Surface Disinfectants
Improving standard of living and growing awareness about hygiene and cleanliness are expected to drive the demand for surface disinfectants across the globe. Both these trends are gaining importance in residential as well as in commercial sectors. The demand for surface disinfectants is also soaring due to stringent regulations set by agencies for industries in several developed as well as developing countries. Growing urgency to prevent epidemics due to unhygienic conditions has also increased the uptake of various types of surface disinfectants.
Flourishing food and beverages industry, which is compelled to comply with certain hygiene standards, is projected augment the global surface disinfectant market as well. Strict nature these rules and regulations to ensure control on infections caused due to unhygienic food consumption has had a positive impact on the overall market. The market is also benefitting from the increasing focus of hospitals and other clinical set ups as the focus of the operating staff continues to be toward avoid hospital-acquired infections. Thus, the overall emphasis on improving the quality of life in many direct and indirect ways is projected to give the global surface disinfectant market a definite impetus.
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Harmful Exposure to Chemicals Used in Surface Disinfectants Likely to Hamper Market Growth
Despite the strong presence of market drivers, the global surface disinfectant market is being challenged by the growing concerns about consistent exposure to chemicals used in the production of surface disinfectants. The market is also likely to be hindered by the inability to build resistance toward microbes due to prolonged exposure to surface disinfectants. However, arduous efforts to develop formulations that have low level of toxicity are expected to open up several new opportunities for the global surface disinfectant market.