Showing posts with label Bio-Based Surfactants Market. Show all posts
Showing posts with label Bio-Based Surfactants Market. Show all posts

Thursday, December 15, 2022

Global Surface Disinfectant Market is expected to reach a revenue of US$10 Bn by 2028: Ken Research

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According to Ken Research analysis, the global surface disinfectant market is expected to grow at a rate of about 10% CAGR over the next six years (2022-2028) and reach a revenue of US$10 Bn by 2028, owing to the growing incidences of healthcare-associated infections. Furthermore, an increase in product demand from non-healthcare industries, health clubs & gyms, and the outbreak of Covid-19 is likely to drive the growth of the market during the forecast period.

Global Surface Disinfectant Market Revenue

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Key Growth Drivers

  • Increasing incidence of Healthcare-associated Infections (HAI) and the rising occurrences of chronic disorders are expected to propel the surface disinfectant market growth. For instance, the rising geriatric population and the prevalence of chronic illnesses such as blood pressure, obesity, diabetes, and heart disorders have been fueling the demand for surface disinfectants across health care facilities. As per the Centers for Disease Control report, published in 2018, healthcare-associated infections (HAI) cause about 1.7 million infections and 99,000 related deaths every year in America.

Furthermore, increasing product demand from non-healthcare settings like gyms, various types of industries, and offices is also driving the growth of this market.

Typical Healthcare-associated Infection Types in USA

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  • Chemical surface disinfectants have some adverse impacts on the environment and acts as a major barrier for growth. For instance, hydrogen peroxide used in chemical surface disinfectants can cause portal vein thrombosis, gastrointestinal problems, mild mucosal irritation, and vomiting. According to a study conducted by the National Library of Medicine, in the United States, Australia, the United Kingdom, and Sweden 15.7% of the general population, and 32.9% of asthmatics, report health problems from being in a room after it has been cleaned by fragranced products which include surface disinfectants.
  • The outburst of COVID-19 had a positive impact on the surface disinfectants market. The pandemic increased the need for surface disinfection and cleaning practices significantly. Multiple measures were being taken to curb the spread of the deadly virus, including disinfection and sanitizing surfaces. This increased the demand for surface disinfectants across the globe.

Key Trends by Market Segment

By Composition: The chemical composition segment dominated the global surface disinfectant market in 2021 and is estimated to continue being the dominant segment during the forecast years.

Biobased surface disinfectants are viewed as alternatives to their chemical counterparts owing to their non-toxic, biodegradable, and eco-friendly characteristics and are expected to have a higher CAGR during the forecast period.

  • In June 2020, an article by Bhabha Atomic Research Center reported that Sodium hypochlorite (NaOCl) is one of the proven disinfectants and is being used in sanitization where 0.05-0.5% NaOCl is recommended by the World Health Organization and the Center for Disease Control and Prevention, whereas 1% is recommended by the Indian Council of Medical Research.
  • In March 2020, Chimcoplex received approval from the Ministry of Health, Romania, for the production of 1.25% sodium hypochlorite. This is further expected to support the surface disinfectant manufacturers for production and thus drive the growth of the market segment.

Global Surface Disinfectant Market Revenue Share by Composition

By Form: The liquid form segment holds the highest market share in 2021 and is expected to remain dominant during the forecast period. This high share is attributed to a wider application of liquids in the industrial as well as the household sector for kitchen fixtures, glazed ceramic tile, windows, plastics, exterior surfaces of applications, vinyl, and glass. However, the spray form disinfectant segment is gaining popularity because of its easy application.

  • In April 2020, ITC launched its product "Savlon Surface Disinfectant Spray in India to curb the spread of Covid-19. ITC acquired Savlon brand from Johnson & Johnson in 2015.
  • In June 2019, Reckitt Benckiser Group PLC received the Environmental Protection Agency (EPA) approval for its Lysol Disinfectant Spray and Lysol Disinfectant Max Cover Mist for surface disinfection.

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By Application Type: The In-house application segment holds the largest market share in 2021 in the global surface disinfectant market and is expected to remain dominant during the forecast period. The large market share of this segment is attributed to the wide usage of surface disinfectants in the premises of hospitals & clinics, households, residential areas, industries, and commercial spaces.

  • In June 2021, Unilever’s brand Lifebuoy introduced BotaniTech product range to bring the brand’s market-leading hygiene expertise to the home.

By End-user: The Hospital & Clinics segment is estimated to account for the largest market share in the global surface disinfectant market during the forecast period due to their vulnerability to infections caused by viruses, bacteria, and fungi.

As per the Centers for Disease Control report, published in 2018, healthcare-associated infections (HAI) cause about 1.7 million infections and 99,000 related deaths every year in America.

By Geography: North America accounted for the largest market share in 2021 among all regions within the total global surface disinfectant market.

  • The increasing healthcare expenditure in North America and an increase in the number of temporary hospitals are some of the major factors boosting the demand of surface disinfectants in North America.
  • Countries like India and China in the Asia Pacific region have a larger population, with a higher level of health and hygiene awareness and this will lead to higher growth of the surface disinfectant market in these regions.
  • According to Global Cancer Observatory data (2020) the estimated prevalent cases of cancer all over the globe in 2020 accounted for 19,292,789. Out of which Asia had 9,503,710 of the total prevalent cases, Europe accounted for 4,398,443, North America had 2,556,862, Latin America and the Caribbean had 1,470,274, and Africa accounted for 1,109,209 of the total prevalent cases. The increase in the prevalence of cancer is expected to increase the number of surgeries, and thus is expected to increase the demand for surfactant disinfectants across healthcare settings.

Major Regions by Revenue Share Global Surface Disinfectant Market

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Competitive Landscape

The Global Surface Disinfectant market is highly competitive with ~250 players which include globally diversified players, regional players as well as a large number of country-niche players. Large global players control highest share of the market in terms of revenue, while regional players hold the second largest share. Some of the major players in the market include Reckitt Benckiser Group PLC, The 3M Company, SC Johnson Professional, Procter and Gamble, Evonik Corporation, Unilever, The Clorox Company, Ecolab, Kimberley-Clark Corporation, Medline Industries, Inc., Diversey, Inc., Zep Inc. and among others.

The leading global companies such as Reckitt Benckiser Group PLC, The 3M Company, SC Johnson Professional, and Procter and Gamble are highly focused on providing a significant number of chemical-based surface disinfectant products that can be used across the globe by healthcare industries, households, and industrial users.

Competitive Landscape of Global Surface Disinfectant Market

Recent Developments Related to Major Players

  • In May 2020, Ecolab (US) acquired Holchem Group to strengthen its hygiene and cleaning products and services portfolio for the food & beverage, food service, and hospitality industries.
  • In April 2021, Unilever partnered with LanzaTech and India Glycols to produce a surfactant made from industrial carbon emissions instead of fossil fuels. Additionally, in March 2021, BASF signed a partnership agreement with Allied Carbon Solutions Co., Ltd. (ACS) Japan to strengthen its global position in bio-based surfactants and actives.
  • In 2019, Ecolab Inc., acquired the business of privately held Chemstar Corporation, a U.S.-based supplier of food safety and cleaning and sanitizing solutions focused on the grocery and food retail markets.

Conclusion

The Global Surface Disinfectant market is forecasted to continue an exponential growth that is witnessed since 2020, which is primarily driven by growing incidences of healthcare-associated infections, increasing product demand from non-healthcare Industries, outbreaks of infectious diseases like Covid-19. Though the market is highly competitive with ~250 participants, few global players control the dominant share and regional players also hold a significant share.

Note: This is an upcoming/planned report, so the figures quoted here for market size estimate, forecast, growth, segment share and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients and report delivered within maximum 2 working weeks.

Ken Research has recently published report titled, Global Surface Disinfectant Market Size, Segments, Outlook, and Revenue Forecast 2022-2028, market is segmented by Composition Type, Form, Application type, and End-User. In addition, the report also covers market size and forecasts for the world’s major regions' surface disinfectant markets. The revenue used to size and forecast the market for each segment is US$ Billion.

Market Taxonomy

By Composition Type

  • Chemical Based
  • Biobased

By Form

  • Liquid
  • Wipes
  • Spray

By Application Type

  • In-house Surfaces
  • Instrument Disinfection
  • Others

By End-user

  • Hospital & Clinics
  • Households
  • Laboratories
  • Hotel/Restaurants/Cafes
  • Educational Institutes
  • Others

By Region

  • North America
    • USA
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
    • Rest Of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Indonesia Rest of Asia Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa