Surface Disinfectant Market to Reach USD 1,547.7 Million by 2027

Surface Disinfectant Market to Reach USD 1,547.7 Million by 2027 | Says Fortune Business Insights™

iCrowd Newswire
16 Sep 2020, 00:24 GMT+10

The global surface disinfectant market size is set to gain impetus from the increasing number of recreational, hospitality, and commercial spaces. Fortune Business Insights provided this information in a new report, titled, "Surface Disinfectant Market Size, Share & Industry Analysis, By Type (Aerosol, Gel, Liquid, and Wipe), By Composition (Alcohols, Chlorine Compounds, Quaternary Ammonium Compounds, Hydrogen Peroxide, Peracetic Acid, and Others), By Application (Residential, Commercial, Health Care Facility, and Others), and Regional Forecast, 2020-2027." The report further states that the surface disinfectant market size was USD 770.6 million in 2019 and is projected to reach USD 1,547.7 million by 2027, exhibiting a CAGR of 9.1% during the forecast period.

This Report Answers the Following Questions:

Which segment is anticipated to dominate the market?

How will surface disinfectant manufacturers surge sales?

Will the outbreak of theCOVID-19 pandemic affect the market severely?

What are the current innovations and developments occurring in the market?

Need to Disinfect Objects to Prevent COVID-19 will Augment Growth

The outbreak of the COVID-19 pandemic is compelling people to disinfect objects that come into their contact on a regular basis. It is set to prevent transmission of the coronavirus. Besides, the number of awareness programs regarding the maintenance of hygiene and sanitation levels amongst the masses would affect growth positively. We are delivering specially curated research reports to help you better understand the current scenario of the market.

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List of the Leading Companies Profiled in the Global Surface Disinfectant Market are:

3M (U.S.)

The Proctor & Gamble Company (U.S.)

Kimberley-Clark Corporation (U.S.)

SC Johnson Professional (U.S.)

The Clorox Company (U.S.)

Ecolab (U.S.)

Metrex Research LLC(U.S.)

Reckitt Benckiser Group Plc (U.K.)

Diversey Inc.(U.S.)

STERIS plc (Ireland)

Whiteley Corporation (Australia)

Other Key Players

Drivers & Restraints-

Rising Cases of HAIs Globally to Accelerate Growth

The increasing prevalence of hospital-acquired infections (HAIs) worldwide is set to be a vital driver for the surface disinfectant market growth in the coming years. HAIs occur during the treatment procedures. But, they are not detected during the time of admission. These infections often occur because of invasive devices and medical equipment. Some of them are ventilator-associated pneumonia, catheter associated infections, and surgical site infection. However, harmful chemicals, namely, acetic acid, peroxides, and hypochlorite are required to produce surface disinfectants. This factor may hinder growth.

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Segment-

Residential Segment to Grow Significantly Backed by COVID-19 Pandemic

Based on application, the residential segment earned 16.1% in terms of surface disinfectant market share in 2019. It would exhibit a significant growth in the near future owing to the emergence of the COVID-19 pandemic. The health care facilities segment is expected to account for the major share because of the urgent need to decontaminate medical instruments, equipment, bathrooms, and floors in the facilities.

Regional Analysis-

North America to Remain at the Forefront Stoked by Promotion of Sanitation in Public Places

In 2019, North America generated USD 299.9 million in terms of revenue. It is anticipated to dominate throughout the forthcoming years because of the rising deployment of stringent rules and regulations to the ruling bodies to promote hygiene and sanitation at food establishments and hospitals.

Europe, on the other hand, is set to showcase a surging demand for surface disinfectants for household applications. Also, the increasing awareness amongst people about the benefits of these products for preventing various diseases would spur growth. Lastly, Asia Pacific is likely to exhibit the fastest growth fueled by the increasing investment by the governments of various countries in public health and cleanliness.

Competitive Landscape-

Key Players Focus on Unveiling Organic Products to Gain a Competitive Edge

The manufacturers present in the global market are introducing new surface disinfectant sprays equipped with organic ingredients to help battle the COVID-19 pandemic.

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Below are two latest industry developments:

August 2020: Marico Limited unveiled its new surface disinfectant sprays called Protect to widen its safety and hygiene portfolio. The products are effective against fungi, bacteria, and viruses on various surfaces without the requirement of wiping them.

August 2020: N. Ranga Rao and Sons (NRRS) launched its new Healing Touch Surface Disinfectant Spray. It is certified by the Ministry of AYUSH. It contains 86.4% v/v ethyl alcohol and comes in a 250 ml aerosol can.

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