Chicago, March 08, 2023 (GLOBE NEWSWIRE) -- The surface disinfectant industry is expected to experience significant growth in the near future. The demand for surface disinfectants is driven by the increasing awareness of the importance of hygiene and sanitation in both commercial and residential settings. Additionally, the rise in outbreaks of infectious diseases, such as COVID-19, is driving the need for surface disinfectants to reduce the spread of germs and viruses. Furthermore, the rise in consumer spending, increased use of technology, and the development of new products are contributing to the growth of the industry. Manufacturers are expected to focus on product innovation and providing convenient packaging options to meet the needs of various user groups. The growth of the industry is further expected to be driven by the increasing number of regulations and certifications for the production and sale of surface disinfectants.
Surface Disinfectant market in terms of revenue was estimated to be worth $2.9 billion in 2021 and is poised to reach $4.3 billion by 2026, growing at a CAGR of 8.4% from 2021 to 2026 according to a latest report published by MarketsandMarkets™. Growth of this market is attributed to the increasing use of LIMS to comply with stringent regulatory requirements, rising need for the adoption of LIMS, technological advancements in LIMS offerings, increasing R&D expenditure in different industries, and growing adoption of cloud-based LIMS.
The companies have a large market spread across various countries in North America, Europe, Asia Pacific, and the Rest of the World.
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Surface Disinfectant Market Scope:
| Report Coverage | Details |
| Market Revenue in 2021 | $2.9 billion |
| Estimated Value by 2026 | $4.3 billion |
| Growth Rate | Poised to grow at a CAGR of 8.4% |
| Market Size Available for | 2019–2026 |
| Forecast Period | 2021–2026 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Composition, type, application, end user, and region |
| Geographies Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunity | Increasing healthcare expenditure and focus in emerging economies |
| Key Market Drivers | Rising number of stringent regulations for the use of surface disinfectants |
Notable Surface Disinfectant mergers and acquisitions for 2021 – 2022 include:
- The merger of Clorox and Reckitt Benckiser to form a global leader in surface disinfectant solutions.
- The acquisition of Lysol from Reckitt Benckiser by Procter & Gamble to strengthen their surface disinfectant portfolio.
- The merger of Diversey and Sealed Air to create a leading global provider of surface disinfectant solutions.
- The merger of Johnson & Johnson and Ecolab to form a global leader in surface disinfectant solutions.
- The acquisition of Virosil by 3M to expand their surface disinfectant portfolio.
- The acquisition of Sanosil International by Ecolab to strengthen their surface disinfectant portfolio.
- The merger of Clorox and Lonza to create a leading global provider of surface disinfectant solutions.
- The acquisition of ProKure by Ecolab to expand their surface disinfectant portfolio.
- The acquisition of Enviro Tech Chemical Services by Ecolab to strengthen their surface disinfectant portfolio.
- The acquisition of Oxivir by Diversey to expand their surface disinfectant portfolio.
Growth Drivers of Surface Disinfectant Market from Macro to Micro:
Macro-Level:
- Rising awareness and adoption of hygiene and cleanliness practices: As the awareness regarding the importance of hygiene and cleanliness is increasing, the demand for surface disinfectants is likely to rise significantly.
- Increase in healthcare expenditure: The growing spending on healthcare services has led to an increase in the demand for disinfectants for surface cleaning, thereby driving the growth of the surface disinfectant market.
- Growth in the number of hospitals: With the growing number of hospitals, the need for surface disinfectants is also increasing.
Micro-Level:
- Growing demand for eco-friendly products: There is an increased demand for eco-friendly products in the market due to their non-toxic and biodegradable nature. This is expected to drive the demand for surface disinfectants.
- Rising demand for advanced concentration technology: The use of advanced concentration technologies such as electrostatic sprayers and fogging equipment is increasing, as they enable better and more efficient disinfection of large surfaces. This is likely to fuel the growth of the market.
- Innovations in products and packaging: The market players are introducing innovative products and packaging designs to attract customers. This is expected to fuel the growth of the surface disinfectant market.
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Hypothetic Challenges of Surface Disinfectant Market in Near Future:
- Increasing Competition: With the growing popularity of surface disinfectants, the market is becoming increasingly competitive and new brands are entering the market. This could lead to a decrease in profit margins and make it difficult for existing brands to maintain their market share.
- Regulatory Pressure: As awareness about the importance of hygiene and cleanliness increases, governments are introducing new regulations that affect the production and sale of surface disinfectants. This could lead to higher costs and compliance requirements, which could hurt the profitability of the industry.
- Sustainability Challenges: The production of surface disinfectants can have an environmental impact, due to the use of harmful chemicals and the high amount of water and energy required for the production process. Companies need to find ways to reduce their environmental impact in order to remain competitive.
- Technological Advancements: New technologies are being developed to improve the efficacy of surface disinfectants, such as UV-C light and nanotechnology. Companies will need to invest in research and development to stay ahead of the competition and remain competitive.
Top 3 Use Cases of Surface Disinfectant Market:
- Hospitals: Hospitals are one of the major end-users of surface disinfectants as they are prone to a higher risk of cross-infections. Surface disinfectants are used in hospitals to prevent the spread of infections and keep the environment sanitized.
- Food Processing Units: Disinfectants are used in food processing units to prevent contamination from spreading. It helps to reduce the risk of food borne illnesses and keeps food safe for consumption.
- Restaurants: Restaurants use surface disinfectants to maintain cleanliness and hygiene in their establishments. This helps to reduce the risk of cross-contamination and keeps the restaurant environment healthy for the customers.
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