Surface Disinfectant Market to Develop Rapidly by 2024
The
frontrunners in the global surface disinfectant market, according to
a report by Transparency Market Research (TMR), are Procter &
Gamble, Johnson & Johnson Services Inc., Henry Schein,
Kimberly-Clark, 3M, and DuPont. Some other key players that largely
operate in regional markets are GOJO Industries, Clorox, Cantel, and
Ecolab.
Read
Report Overview @
According
to the TMR report, the global surface disinfectant market is expected
to expand at a healthy CAGR of 10.4% between 2016 and 2024. If the
figure holds true, the market which stood at US$802.9 mn in 2016 will
become worth US$1.77 bn by 2024.
By
product, sodium hypochlorite-based surface disinfectants hold the
leading market share in terms of volume, followed by phenol-based
products. The low price factor along with relatively stable nature of
sodium hypochlorite-based products account for their leading share in
the market.
On
the other hand, quaternary ammonium compounds and peracetic
acid-based products are likely to display significant growth over the
forecast period.
In
terms of application, hospitals & clinics and outpatient surgical
centers are the major end-use segments of surface disinfectants. Over
the forecast period, however, the segment of restaurants and food
chains is expected to surpass in terms of growth rate, followed by
the households segment.
Of
the several growth drivers of the global surface disinfectant market,
increasing awareness about cleanliness and hygiene generally among
the population and state authorities is a prominent one. This has
resulted in increased spending on cleanliness at individual level and
at state level. Another important factor favoring the growth of the
surface disinfectant market is regulatory requirements in place for
cleanliness and hygiene that commercial establishments, especially
food services need to adhere to. For example, the food and dairy
industry is displaying an increased demand for these products.
The
increasing education level and rising economic prosperity in emerging
economies of Asia Pacific, Latin America, and the Middle East and
Africa is also working in favor of the surface disinfectant market.
Individuals are increasing recognizing the importance of cleanliness
at homes and at workplaces and are using disinfectants to prevent
germs from breeding. The expanding construction industry in emerging
economies, leading to the development of residential complexes and
commercial buildings is also displaying substantial demand for
surface disinfectant products.
The
increasing number of restaurants and food chains in developing
regions backed by economic development, and hygiene and cleanliness
standards that the service industry need to comply to is acting as a
growth driver to the market. The increasing disposable income in
these regions that has raised affordability of a high percentage of
population to visit upscale hospitals, clinics is also having a
positive bearing on the growth of surface disinfectant market.
Request
to view Sample Report:
Proving
to act as a barrier to the growth of surface disinfectant market is
highly reactive nature of some chemical formulations, which is
limiting their use. Moreover, the relentless use of these products
has resulted in several microorganisms developing resistance to the
products. This factor has affected sales in mature markets of North
America and Europe that have been using surface disinfectants for a
long time and on a large scale.
Comments
Post a Comment