Disinfectants are antimicrobial agents that are applied to kill or inactivate disease-producing microorganisms on surfaces. They help prevent the spread of germs, bacteria, and viruses that cause illnesses. The COVID-19 pandemic has heightened awareness about health, hygiene, and sanitation worldwide. There has been a significant increase in the demand for disinfectants from consumer and commercial end-users such as hospitals, clinics, schools, and offices. The global Disinfectants Market is estimated to be valued at US$ 49.00 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: The key trend propelling the growth of the Disinfectants Market is the growing concerns over hygiene and sanitation amid the COVID-19 pandemic. Due to the ongoing threat of coronavirus, organizations and individuals have become more diligent about cleanliness and hygienic practices. There is increased usage of disinfectants for surface cleaning in offices, industries, transportation, and public places. The pandemic has underscored the importance of personal hygiene as well as public health measures. This has significantly boosted demand for disinfectants globally over the past two years and this trend is expected to continue strongly over the forecast period.
Strength: Disinfectants have effective antimicrobial properties that help eliminate germs and prevent the spread of infections. They are widely used in healthcare facilities, commercial spaces and households.
Weakness: Some disinfectants contain harsh chemicals that can cause undesirable side effects if proper safety measures are not followed during use. Certain disinfectants are also harmful to the environment.
Opportunity: With increased awareness about hygiene and sanitation, demand for safe and eco-friendly disinfectants is on the rise. Product innovation towards developing natural and plant-based formulations presents an opportunity for market growth.
Threats: Stringent regulations surrounding the use of chemicals in disinfectants is a major challenge. Price volatility of raw materials also threatens profit margins.
The global disinfectants market is expected to witness high growth over the forecast period of 2023 to 2030. The market size is projected to reach US$ 49.00 Bn in 2024, expanding at a CAGR of 6.0% through 2030.
Regional analysis: North America dominates the global market currently owing to high product adoption across various end-use industries. Asia Pacific is anticipated to emerge as the fastest growing market on account rapid economic development and increasing awareness about cleanliness. Countries like China, India and Japan will be the major revenue generators in the region.
Key players: 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 established brands hold a significant share of the market and are continuously launching new formulations.