by Disinfectants Market is thriving on Increasing Hygiene Awareness
The global disinfectants market is estimated to be valued at US$ 49.0 Bn in 2024 and is expected to exhibit a CAGR of 6.0% over the forecast period 2023 to 2030. Disinfectants are chemical substances or mixtures that are applied on surfaces to destroy or irreversibly inactivate infectious microorganisms but not necessarily their spores. This promotes public health by reducing the spread of infectious diseases. Disinfectants help neutralize or destroy microorganisms on surfaces through a chemical process. Common disinfecting agents include alcohol, chlorine bleach, hydrogen peroxide and quaternary ammonium compounds. These agents have wide applications from hospitals, clinics, laboratories to household cleaning. Growing awareness about health benefits of cleanliness and prevention of diseases is driving demand for disinfectants across the world.
Key Takeaways
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 key players are focusing on strategic partnerships and new product launches to strengthen their market share.
Growing awareness about health benefits of cleanliness and hygiene is fueling demand for disinfectants across various end use industries like healthcare, food & beverage, household care etc. Increasing prevalence of hospital acquired infections and rising healthcare expenditure is also propelling market growth.
Asia Pacific represents the largest and fastest growing regional market for disinfectants driven by improving hygiene standards, rising per capita incomes and growing middle class population in major countries like China and India. rapid urbanization and increasing institutional healthcare sector is further supporting market expansion in the region.
Market key trends
One major trend gaining prominence in disinfectants market is growing demand for green and eco-friendly products. Stringent regulations regarding use of toxic chemicals is encouraging manufacturers to develop bio-based and plant derived safe disinfectants. Rising environmental and health concerns are further strengthening demand for sustainable cleaning solutions. Innovation of technologies like electrostatic spraying is also helping improve disinfection efficacy and optimize chemical usage.
Porter’s Analysis
Threat of new entrants: High capital requirements for establishing manufacturing facilities and stringent regulations act as a deterrent to new players. Bargaining power of buyers: Buyers can negotiate for better prices from existing manufacturers due to the availability of a variety of disinfectants from different brands. Bargaining power of suppliers: Suppliers have low bargaining power due to the availability of substitute raw materials. Threat of new substitutes: New substitutes pose a moderate threat as formulations with improved effectiveness and lower toxicity can replace existing disinfectants. Competitive rivalry: Fierce competition exists between global and regional players to cater to the growing demand.
The North American region accounts for the largest share in the global disinfectants market in terms of value owing to rising awareness about hygiene and infection control. Stringent food safety regulations drive the consumption of disinfectants in major food processing countries such as the U.S. and Canada.
The Asia Pacific region is expected to grow at the fastest pace during the forecast period. Expanding middle-class population, rapid urbanization, and rising health expenditure create high demand for disinfectants in countries such as China and India. Growing awareness about environmental and personal hygiene further stimulates the market in developing Asia Pacific nations.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
