The surface disinfectant chemicals market is poised for substantial growth, with an estimated value of USD 3.9 billion in 2023, projected to reach USD 5.8 billion by 2033. During this forecast period, demand is anticipated to experience a significant compound annual growth rate (CAGR) of 4.1%.
Leading manufacturers in the surface disinfectant chemicals sector are presented with abundant opportunities, driven by the emergence of advanced disinfection solutions and the expansion of global economies. However, there is a growing concern over the potential risks posed by traditional chemical-based disinfectants to human health. In response, numerous startups within the industry are developing a range of alternatives to address these concerns.
Rising healthcare costs and heightened consumer hygiene consciousness are the two main market drivers. Additionally, the increasing prevalence of infectious diseases such as hepatitis, HIV, and other hospital-acquired infections is fueling market growth.
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As individuals become more aware of various healthcare-associated illnesses, the demand for surface disinfectant chemicals is projected to increase. The market is also anticipated to grow due to changing lifestyles and a rise in surgical procedures.
Manufacturers have historically been concerned about issues like government restrictions on the use of synthetic chemicals and a shift in consumer preference toward environmentally friendly products. However, the market is expanding overall due to the continually growing demand from various industries and the implementation of stringent safety and hygiene standards. The demand for surface disinfectant chemicals is largely driven by end users in the commercial and institutional sectors.
Key Takeaways
- The UK surface disinfectant chemicals market is anticipated to expand at a CAGR of 3.4% over the anticipated time frame. By 2033, it is anticipated that the industry in the UK is likely to surpass US$ 166.6 billion.
- The surface disinfectant chemicals market increased at a 4.6% CAGR between 2017 and 2022, citing FMI’s study.
- The surface disinfectant chemicals market in the US is anticipated to expand at an adequate CAGR of 3.8%. By 2033, it is expected that the US market would have contributed more than US$ 1.0 billion in revenue.
- Japan’s surface disinfectant chemicals market sector is estimated to exceed US$ 320 million by 2033.
- Between 2023 and 2033, the surface disinfectant chemicals market is likely to increase in South Korea at 4.6% CAGR, respectively.
- Quaternary ammonium compounds dominate the surface disinfectant chemicals market, with a CAGR of 4.1% by 2033.
- Based on end user, commercial and institutional segments dominate the surface disinfectant chemicals market, with the CAGR of 4.2% by 2033.
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Competitive Analysis
Utilizing the rise in global demand, companies in the surface disinfectant chemicals market are working to enhance production capacity through strategic acquisitions and partnerships with other producers.
Leading surface disinfectant chemical producers are focusing on creating fresh marketing strategies and utilizing cutting-edge technologies to increase their clientele. Leading manufacturers of surface disinfection chemicals are focusing on regulating and optimizing supply efficiency in order to stay competitive in the market. They are doing this by boosting their productivity, operational effectiveness, and lead time reduction.
- Lanxess made a formal announcement in 2020 that it intended to increase its capacity for producing oxone monopersulfate, a crucial component in disinfection formulations, by about 50%.
- Lonza increased its microbiological capacity in 2020 and extended its long-term collaboration wi th Servier for the production of L-asparaginase API.
Key players
- Evonik Industries AG
- LANXESS AG
- Solvay S.A.
- BASF SE
- Lonza Group AG
- Dow Inc.
- Arkema SA
- Mitsubishi Gas Chemical Company, Inc.
- Hodogaya Chemical Co., Ltd.
- Olin Corporation
- Hansol Chemical Co., Ltd.
- Dishman Carbogen Amics Ltd.
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Key Segmentations
By Product Type:
- Quaternary Ammonium Compound
- Alcohols & Aldehydes
- Phenolic Compounds
- Halogens
- Oxidizing Agents
By End Use:
- Domestic
- Commercial & Institutional
- Industrial
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia Pacific
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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