The surface disinfectants market is expected to be worth US$ 8.1 billion in 2023. According to Future Market Insights (FMI), the surface disinfectants market is expected to rise to a value of more than US$ 16.4 billion over the next 10 years. The market is expected to develop at a CAGR of 7.3% between 2023 and 2033.
Leading manufacturers of surface disinfectant chemicals have a tonne of opportunities due to the advent of cutting-edge disinfection solutions and expanding economies. Due to the rising risk of disinfectants to humans, numerous start-ups in the surface disinfectant chemicals industry globally have created a variety of alternatives to traditional chemical-based decontaminants.
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Rising healthcare costs and heightened consumer hygiene consciousness are the two main market drivers. In addition, the market is growing as more infectious diseases like hepatitis, HIV, and other hospital-acquired illnesses are becoming more common.
As individuals become more aware of the various illnesses connected to healthcare, it is projected that the demand for surface disinfectant chemicals would increase. The market is also anticipated to grow in the upcoming years, as a result of altering lifestyles and a rise in surgical procedures.
Manufacturers have historically been most worried about issues like government restrictions on the use of synthetic chemicals and a movement in consumer preference toward environmentally friendly products.
However, the market is being expanded overall due to the continually expanding demand from different industries and the implementation of stringent safety and hygiene standards. The demand for surface disinfection 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 Segments
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
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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 over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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