by Disinfectants Market Poised to Grow Substantially due to Advancements in Nanotechnology
The disinfectants market involves manufacturing of various chemical disinfectants such as phenols, quaternary ammonium compounds, hydrogen peroxide, and chlorine compounds among others. These disinfectants are mainly used for disinfecting or sterilizing hospital equipment, indoor air, water, and various surfaces to prevent spread of infections. Disinfectants provide effective protection against various bacteria and viruses. The global disinfection 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.
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.
The disinfectants market is expected to witness significant growth opportunities due to rising awareness about hygiene and infection control. Growing prevalence of hospital acquired infections is also driving the demand for advanced disinfection solutions globally.
Technological advancements in nanotechnology have allowed development of nanosilver and nano-coated disinfectants with improved efficacy. These nano-enabled products offer long lasting protection and are revolutionizing the disinfectants industry.
Market Drivers
The key driver pushing the growth of global disinfectants market is increasing prevalence of hospital acquired infections worldwide. As per WHO, over 1.4 million people worldwide contract healthcare associated infections annually. This has augmented the demand for advanced disinfection solutions across healthcare setups.
Stringent regulations regarding hygiene and safety across industries like food processing and pharmaceuticals is another major factor boosting the market growth. Various regulations compulsory use of disinfectants during operations is favoring market expansion.
Current challenges in Disinfectants Market
The disinfectants market is currently facing various challenges such as stringent regulations related to product development and manufacturing approvals. The regulations for approval and registration of disinfectants has become more stringent globally in order to ensure safety. This has increased cost and time involved in new product development for players in this market. Another challenge is growing consumer preference for green and eco-friendly products. Consumers today prefer disinfectants that contain natural ingredients and are less toxic. They also expect disinfectants to be effective in killing germs and neutralizing odors without harming human or environmental health. Meeting such evolving consumer demands through sustainable product development is a key challenge for disinfectant manufacturers.
SWOT Analysis
Strength: Wide range of applications in households, industries, hospitals and many other sectors. Demand remains strong due to need for hygiene and cleanliness.
Weakness: Stringent regulations increase cost of product development and market approvals. Growing demand for eco-friendly variants.
Opportunity: Emerging markets in Asia Pacific offer huge growth potential due to improving standards of living. New product development focusing on natural ingredients.
Threats: Competition from alternate sterilization methods like UV light. Shift towards alternative cleaning and hygiene products due to environmental concerns.
Geographical regions of concentration
North America currently accounts for the largest share in the global disinfectants market, both in terms of value and volume. Stringent hygiene standards across various sectors along with high consumer spending on cleaning and disinfectant products has augmented the market growth in the region. Europe is also among the major markets, whereas the Asia Pacific region is expected to register the fastest growth during the forecast period supported by improving living standards and increasing healthcare and cleaning expenditure.
Fastest growing region
Asia Pacific region provides huge untapped growth opportunities for players in the disinfectants market. Factors such as rising population, growing middle class, increasing awareness about hygiene and cleanliness are expected to drive high demand for disinfectants from countries like China, India, Indonesia and others. Investments in healthcare infrastructure and stringent hygiene protocols especially post covid-19 outbreak will further propel the APAC disinfectants market towards gaining the fastest growth globally through 2030.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
