Disinfectant Chemicals Market –Industry Analysis, Trends, Production, Revenue, Gross Margin Analysis and Forecast 2027 | Key Top Players
Market
Synopsis
According to the MRFR
analysis, the Global Disinfectant Chemicals Market size was valued at around USD
5 Billion in 2019 and is expected to reach approximately USD 7.2 Billion by the
end of 2027 at a CAGR of 5%.
Disinfectant chemicals are the
chemicals that are used to kill or deactivate the microbes, such as bacteria,
viruses, fungi, micro-bacteria, and spores. Chemicals, such as alcohols,
aldehydes, quaternary ammonium compounds, hydrogen peroxides, and chlorine
compounds, are widely used in various end-use applications that include
hospitals, clinics, laboratories, and household cleaners.
The growing prevalence of
healthcare-associated infections (HAIs) and an increase in healthcare
expenditure across the world are some of the factors which are expected to
propel the growth of the global disinfectant chemicals market. Furthermore, due
to the COVID-19 pandemic crisis, the disinfectant chemicals have witnessed a
spike in demand in the fiscal year 2020. However, due to the national and
regional lockdown, the production and supply chain is adversely impacting the
growth of the global market.
Competitive Landscape
The global Disinfectant Chemicals Market is
fragmented with the presence of numerous global, regional, and local players.
Manufacturers focus on the development of new technologies to maintain the
quality of their products and expanding their production capacity to maintain
supply-demand balance. Furthermore, producers are increasingly focusing on a
strategic alliance with stakeholders to gain maximum market share in the global
market. For instance, in March 2020, Arkema, one of the leading chemical
companies, has repurposed its alcohol-based production line with a capacity of
20 tons per week.
Segmentation
By Composition
- This segment is
divided into chlorine and derivatives, quaternary ammonium compounds,
phenolic compounds, alcohols and aldehydes, formalin, and other compounds.
- Chlorine and derivatives
are expected to witness notable growth during the forecast period in terms
of volume. These compounds are inexpensive and hence used widely in a
disinfectant solution to kill microbes.
- Quaternary ammonium compounds (QACs or quats) is
projected to be the fastest-growing segment during the assessment period.
This is due to rising inclinations of manufacturers on the development of
QAC-based disinfectants.
- Phenolic compounds
are expected to witness healthy growth during the forecast period as it is
widely used as disinfectant chemicals in low concentration.
- Alcohols and aldehydes hold the largest market
share in the global disinfectant chemicals market. Alcohols are used
widely as a general disinfectant in 70-80% concentrations to kill bacteria
and viruses. Aldehydes have a broad range of biocidal activity and are
effective on the surface as well as space decontamination.
- Formalin is
expected to witness moderate growth due to the growing adoption of low
toxic disinfectants.
- The others segment includes halogens, hydrogen
peroxides, biguanides, alkalis, etc.
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By Type
- This segment is
further segmented into air disinfectants, water disinfectants, and surface
disinfectants.
- Water disinfectants
hold the largest share of the global disinfectant chemicals market. They
are widely used to control HAIs in the hospital premises and households.
- Surface disinfectants is projected to be the
fastest-growing segment during the assessment period. This is attributed
to the growing demand for surface-based disinfectants to disinfect medical
devices and in-house surfaces.
- The air disinfectant segment is expected to witness
moderate growth during the forecast period. This is due to the slower
adoption of air-based disinfectants and the formation of aerosols.
By End-User
- This segment is further segmented into hospitals,
clinics, research and diagnostic laboratories, and others.
- The hospital segment holds the largest share of the
global disinfectant chemicals market owing to the growing prevalence of
HAIs in hospitals and stringent regulations on the use of disinfectants in
the hospitals.
- The clinics segment is expected to witness moderate
growth in the assessment period due to the rising concern over HAIs and
the growing demand for disinfectants to clean medical devices.
- The research and diagnostic laboratories segment is
expected to witness the fastest growth in the global disinfectant
chemicals market owing to the rising investments in industries such as
biotechnology and pharmaceutical globally.
- The others segment includes households, food and
beverage industry, and institutions such as schools, colleges, and malls.
By Region
- North America: Market growth is driven by the
rising per capita healthcare expenditure and the growing prevalence of
HAIs
- Europe: Stringent healthcare regulations and a
large number of geriatric populations
- Asia-Pacific: The largest and fastest-growing
regional market
- Latin America: Growing prevalence of HAIs is
fueling the demand for disinfectant chemicals in Latin America.
- Middle East & Africa: Rising awareness and
government expenditure on healthcare infrastructure is fueling the demand
for the disinfectant chemicals in the region.
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