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Surface Disinfectant Market Revenue, Price, Gross Margin, Industry Analysis 2024
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The global surface disinfectant market is projected to rise at a CAGR of 10.4% during the forecast period of 2016 and 2024. The market stood at US$802.9 million in 2016 and is estimated to reach a worth of US$1.77 billion by the end of the forecast timeline.
The various products of surface disinfectants are phenols, quaternary ammonium compounds, hydrogen peroxide, sodium hypochlorite, peracetic acid, amphoterics, aldehydes, and biguanides. Of these, sodium hypochlorite-based disinfectants accounted for the leading market share, vis-à-vis volume, in 2015. The extensive demand for this type of surface disinfectants can be attributed to their versatile uses, low pricing, and the markedly stable nature of the compositions.
Regionally, Asia Pacific is predicted to account for a substantial share of the global market by witnessing the leading CAGR of 11.3% over the forecast period. The growth is fueled by the stricter implementation of regulations pertaining to cleanliness and hygiene, which has stoked the demand for surface disinfectants in a variety of applications.
Stricter Implementation of Hygiene and Cleanliness State Regulations to Bolster Demand
The rising focus on maintaining hygiene and cleanliness in commercial establishments and homes by disinfecting environmental surfaces is the primary factor driving the demand. A number of regional regulations by agencies in several developing and developed countries is a crucial factor bolstering the demand for surface disinfectants. Growing efforts and investments by state authorities to ensure cleanliness in commercial establishments in developing regions is accentuating the growth of the market. The market will also benefit from various disinfection processes used in food and dairy industries world over.
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A number of regulations in place to maintain hygiene in food services industry is a notable factor fortifying the demand for surface disinfectants. The growing focus of killing pathogens and microorganisms in clinical settings, such as hospitals, is also boosting the surface disinfectants market. Furthermore, substantial improvements being made in the quality of life of people in emerging markets, such as those of Asia Pacific, the Middle East and Africa, and Latin America, are providing a robust fillip to the growth of the surface disinfectant market.
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