Disinfectant Chemicals Market, Revenue, Gross Margin Analysis and Forecast 2027
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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