Surface disinfectants are chemicals that are applied to indoor surfaces to kill or inactivate microorganisms. Most common active ingredients in surface disinfectants include alcohol, hydrogen peroxide, sodium hypochlorite, quaternary ammonium compounds, and phenolic compounds. These disinfectants effectively remove germs and prevent the spread of infections with regular use on a variety of hard, non-porous surfaces in homes, schools, hospitals and commercial spaces. With growing awareness about hygiene and infection control, the use of surface disinfectants has become increasingly important around the world. Outbreaks of infectious diseases like COVID-19 and growing antimicrobial resistance have further highlighted the need for effective disinfection practices.
The global surface disinfectant market is estimated to be valued at US$ 7347.2 Mn in 2023 and is expected to exhibit a CAGR of 3.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
The COVID-19 pandemic has created significant opportunities for growth in the surface disinfectant market. The rapid spread of the virus through surfaces exposed the importance of cleaning and disinfecting common touch points in both public and private spaces. Governments, commercial facilities and individuals significantly increased their spending on surface disinfectants over the last few years to curb transmission through indoor surfaces. This sudden spike in demand has brought more recognition to surface disinfectants as an essential tool for infection control. Going forward, increased awareness about preventing infection transmission through surfaces is expected to continue driving the demand for effective and reliable disinfectants. Manufacturers stand to gain larger market share by offering products that meet the growing need for hygiene in residential and commercial settings post the pandemic.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is low as the surface disinfectant market requires significant R&D investments and established distribution channels. Strict regulations also pose a barrier.
Bargaining power of buyers: The bargaining power of buyers is high as surface disinfectants are commoditized products and buyers have many alternatives. Buyers can negotiate on price and switch between brands easily.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as manufacturers can switch between suppliers of raw materials with moderate difficulty.
Threat of new substitutes: The threat of new substitutes is moderate as new formulations and active ingredients could emerge as alternatives. However, regulations pose difficulty for widespread adoption of novel substitutes.
Competitive rivalry: Competition is high among existing players due to their global presence. Players compete on product quality, price, and marketing.
SWOT Analysis
Strength: Surface disinfectants have wide application across healthcare, hospitality, food industry etc. Established brands have strong distribution networks.
Weakness: Regulations impose compliance costs. Certain active ingredients face restrictions in some regions. Frequent formulation changes are expensive.
Opportunity: Growing awareness about hygiene could spur demand. Emerging pathogens increase need for disinfection. Expanding healthcare infrastructure boosts market.
Threats: Economic slowdowns may impact sectors that create demand. Some substitute technologies like UV disinfection could see adoption. Regulations may further curb certain chemistries.
Key Takeaways
The Global Surface Disinfectant Market Size is estimated to be valued at US$ 7347.2 Mn in 2023 and is expected to exhibit a CAGR of 3.9% over the forecast period 2023 to 2030.
The global surface disinfectant market is expected to witness high growth over the forecast period aided by increasing awareness about hygiene and frequent outbreaks of diseases. The market in North America dominates currently due to stringent regulations and advanced healthcare infrastructure in the region. However, the Asia Pacific region is expected to witness fastest growth fueled by expanding healthcare and hospitality sectors in many countries.
Key players operating in the surface disinfectant market are 911 Restoration, ADU (All Dry USA), AdvantaClean, All US Mold Removal, ASAP Restoration, LLC, BELFOR, COIT Pro, Flood Pros USA, GIORDANO RESTORATION, IDC, Mold Zero, Paul Davis Restoration, Inc., PuroClean, RestoreMasters LLC, ServiceMaster Restore,SERVPRO,Snyder Environmental,South Florida Water and Mold Restoration, Inc. and Taylored Restoration. The market is highly consolidated with top players holding a major share. Players compete on parameters like product quality, price, distribution strength and marketing initiatives.
For More Insights, Read: https://www.newswirestats.com/surface-disinfectant-market-demand-growth-and-regional-outlook-by-2030/
