Disinfectants are chemical substances or mixtures used to inhibit the growth and survival of pathogenic microorganisms on inert surfaces. Common disinfectants include sodium hypochlorite, hydrogen peroxide, benzalkonium chloride, ethanol, and glutaraldehyde. Disinfectants are widely used in hospitals, clinics, food processing plants, schools, and households for cleaning surfaces and disinfecting them against bacteria, viruses, fungi, and other microorganisms. The increasing healthcare sector and growing concerns regarding hospital acquired infections have boosted the demand for disinfectants. Rising cases of infectious diseases across the globe also propel the growth of the disinfectants market.
The global Disinfectants Market is estimated to be valued at US$ 49.0 Bn in 2023 and is expected to exhibit a CAGR of 6.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the disinfectants market is the rising demand for eco-friendly disinfectants. With growing environmental concerns, consumers and industries are shifting their preference towards green chemicals and bio-based products. Many disinfectant manufacturers are focusing on developing botanical and plant-based disinfectants using essential oils from herbs and spices such as lemon, eucalyptus, pepper mint etc. For instance, plant-based disinfectants containing thyme oil, cinnamon oil, and clove oil are effective against several pathogens. Rising demand for sustainable products is expected to positively influence the demand for green disinfectants during the forecast period. Another major trend is the increasing adoption of ultraviolet disinfection technology. UV disinfection systems use short-wavelength ultraviolet light to kill or inactivate microorganisms by destroying their DNA/RNA. UV disinfection solutions are gaining popularity due to their effectiveness in disinfection without using any harsh chemicals.
Threat of new entrants: The threat of new entrants is moderate as disinfectant industry requires huge capital investment to set up production facilities. However, there are low switching costs for customers.
Bargaining power of buyers: The bargaining power of buyers is high as disinfectants are commodity products and buyers can easily switch between brands.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as key raw materials like acids, bases, alcohols are supplied by few global players though local availability reduces dependence on individual supplier.
Threat of new substitutes: The threat of new substitutes is low as there are limited product alternatives for disinfecting surfaces. Innovation is mainly focussed on developing formulations with enhanced efficacy.
Competitive rivalry: The competitive rivalry in the industry is high owing to presence of global players.
The global disinfectants market is expected to witness high growth, exhibiting CAGR of 6.0% over the forecast period, due to increasing awareness about health and hygiene. The market size for 2023 is estimated to be US$ 49.0 Bn.
North America dominates the global disinfectants market, owing to rising cases of hospital acquired infections and established healthcare industry in the region. Asia Pacific exhibits the fastest growth rate during the forecast period due to growing medical tourism, healthcare investments and awareness about hygiene in developing countries.
Key players operating in the disinfectants market are Solvay S.A., Unilever Group, Evonik Industries AG, 3M Company, Procter & Gamble Corporation, dowdupont Inc., Lanxess AG, BASF S.E., The Clorox Company, and Reckitt Benckiser Plc. These companies focus on strengthening their product portfolio through innovations and expansion in emerging markets.
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it