Surface Disinfectant Market Regional Demand, Outlook, Segmentation, Growth, Research Report by 2027
The global surface disinfectant market size was valued at USD 770.6 million in 2019 and is projected to reach USD 1,547.7 million by 2027, exhibiting a CAGR of 9.1% during the forecast period 2020-2027. North America dominated the surface disinfectant market with a market share of 38.92% in 2019.
Drivers & Restraints-
Increasing Prevalence of Hospital-Acquired Infections to Propel Growth
The cases of hospital-acquired infections (HAIs) are expected to surge the demand for surface disinfectant in the near future. These infections mainly occur when the patients are being treated in the hospitals and are not often detected during the admission procedure. The infections associated with the invasive devices and medical equipment consist of ventilator-associated pneumonia, catheter associated infections, and surgical site infection. However, these disinfectants include a wide range of chemicals, namely, acetic acid, peroxides, and hypochlorite. These are very harmful for the human health, as well as for the environment. These factors are expected to hamper the market growth in the coming years.
Segment-
Residential Segment to Grow Steadily Owing to Awareness About Infections
In terms of applications, the market is divided into health care facilities, commercial, residential, and others. Out of these, the residential segment held 16.1% market share in 2019. This growth is attributable to the increasing awareness amongst the populaces about the benefits of using surface disinfectants and the spread of several infections. Additionally, the outbreak of COVID-19 pandemic is rapidly driving the demand for these disinfectants.
Regional Analysis-
Rising Government Laws to Maintain Hygiene will Favor Growth in North America
In 2019, North America procured USD 299.9 million in terms of revenue. This growth is attributable to the increasing number of stringent laws put forward by the governments for maintaining proper sanitation and hygiene at public places, food establishments, and hospitals. Europe is set to experience significant growth stoked by the rising utilization of these disinfectants, especially for household applications. Asia Pacific, on the other hand, is anticipated to exhibit the fastest growth fueled by the increasing expenditure of the governments of numerous countries on public health and cleanliness.
Competitive Landscape-
Key Companies Focus on Product Launches & Collaborations to Surge Sales
The market is highly competitive because of the presence of a large number of international and regional companies. Most of them are either following the strategy of joint ventures and partnerships, or are investing huge sums to launch novel surface disinfectants in the market. These steps are helping them to gain a competitive edge. Below are two of the latest industry developments:
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