PUBLISHER: SkyQuest | PRODUCT CODE: 1473916
PUBLISHER: SkyQuest | PRODUCT CODE: 1473916
Global Surface Disinfectant Market size was valued at USD 5.49 billion in 2022 and is poised to grow from USD 5.88 billion in 2023 to USD 10.18 billion by 2031, growing at a CAGR of 7.10% during the forecast period (2024-2031).
The utilization of surface disinfectants, antimicrobial agents employed to eradicate viruses and microorganisms from surfaces, has surged notably due to various factors such as the heightened demand within livestock farms, shifts in lifestyle patterns in emerging economies, and increased awareness among livestock farmers regarding animal diseases. The COVID-19 pandemic has triggered a significant downturn in the demand for raw materials and active chemicals due to the closure of industrial centers worldwide, leading to supply-demand imbalances as factories operate at reduced capacities or shutter altogether. However, the anticipation of a rise in demand for cleaning supplies, sanitizers, and disinfectants is poised to fuel market expansion despite challenges. Petroleum industry by-products predominantly constitute the raw materials utilized in surface disinfectant production, with sourcing typically localized in China, North America, and Europe. The industry is witnessing a shift towards biodegradable surface cleaners to mitigate chemical toxicity, leveraging less expensive and more accessible raw ingredients. Despite experiencing modest price increases, the unexpected surge in demand during the COVID-19 crisis has exacerbated supply constraints, potentially prolonging price hikes into the first half of 2021. The escalating demand for surface disinfectants is driven by stringent regulatory standards across commercial, industrial, and institutional sectors, as they effectively curb the spread of diseases. However, their indiscriminate use poses risks to human and animal health, as well as environmental concerns, which could impede industry growth due to inadequate awareness regarding safe application practices and associated health risks.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Surface Disinfectant Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Global Surface Disinfectant Market Segmental Analysis
Global Surface Disinfectant Market is segmented based on type, formulation, end-use, and region. Based on type the market is segmented into Quaternary Ammonium Compounds, Hypochlorite, Alcohols, Aldehydes, Other. Based on formulation the market is segmented into liquids, wipes, and sprays. Based on end-use the market is segmented into Hospitals & Clinics, Outpatient Surgical Centers, and Other. Based on region the global market is segmented into North America, Europe, Asia-Pacific, Latin America, and MEA.
Drivers of the Global Surface Disinfectant Market
Market growth is predominantly fueled by heightened awareness of infectious diseases, expansion of the healthcare sector, a surge in surgical procedures, rising demand from the food and beverage industry, and ongoing technological advancements.
Restraints in the Global Surface Disinfectant Market
Although surface disinfectants have a broad spectrum of applications, various factors such as stringent regulations enforced by governmental organizations like the Environmental Protection Agency (EPA) in the United States and the European Chemicals Agency (ECHA) in the European Union, high production costs, the emergence of drug-resistant microorganisms, potential health risks, and environmental concerns act as significant constraints on their widespread utilization. The strict oversight of specific chemical usage by regulatory bodies may limit market expansion, while the expense associated with manufacturing and distributing these products could deter their adoption, particularly in resource-constrained regions. Additionally, the misuse of disinfectants may lead to the development of resistant microbes, diminishing their effectiveness and facilitating disease transmission. Furthermore, certain disinfectants containing harmful compounds pose risks to human health with prolonged exposure, potentially restricting their use in densely populated areas like schools and hospitals. Moreover, the adverse environmental impact of some disinfectants, such as water pollution, may impede their application, particularly in environmentally conscious settings.
Market Trends of the Global Surface Disinfectant Market
The demand for advanced Surface Disinfectants is escalating, driven by the increasing emphasis on energy efficiency and environmental conservation. Specialized, bio-based, and synthetic disinfectants are gaining traction due to their enhanced efficacy, prolonged durability, and reduced emissions, aligning with the growing preference for products that offer superior performance while minimizing environmental impact.