by Surface disinfectants are chemical substances that are applied to inactivate or destroy microorganisms on inert surfaces without necessarily affecting the surface itself. Common surface disinfectants such as peroxides, alcohols, sodium hypochlorite and glutaraldehyde are used to kill bacteria, viruses, fungi and spores on surfaces. Rise in infectious diseases such as COVID-19 pandemic has led to increasing awareness regarding health and hygiene, driving demand for surface disinfectants globally. Surface disinfectants help eliminate germs and prevent spread of infection, keeping indoor environment sanitised. 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 18% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the Global surface disinfectant market size is the growing demand for eco-friendly and sustainable products. With rising environmental concerns, consumers and industries are preferring plant-based, non-toxic, bio-based and environment-friendly alternatives over chemically synthesized disinfectants. Manufacturers are increasingly exploring opportunities to develop green disinfectants using essential oils, botanical extracts and other natural compounds. For instance, orange oil and lemon oil are being evaluated for their effectiveness against coronavirus. Such green alternatives could help accelerate market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: Low-high barrier for entry due to regulations and licensing required. However, large brand value of existing players makes the market tough for new entrants.
Bargaining power of buyers: Moderate due to availability of substitutes but buyer preference for branded products increases switching costs.
Bargaining power of suppliers: Low due to availability of raw material suppliers and minimal differentiation in components.
Threat of new substitutes: Moderate threat from alternative disinfecting solutions like UV technology.
Competitive rivalry: High rivalry among existing players to gain market share through product innovation, branding and expanding into new application areas.
Key Takeaways
The global Surface Disinfectant Market is expected to witness high growth.
Regional analysis: North America dominates the market presently due to stringent hygiene regulations and protocols implemented post-pandemic. Asia Pacific is expected to emerge as the fastest growing regional market attributed to rising healthcare expenditure and growing awareness.
Key players operating in the Surface Disinfectant market are FIMER SpA, Amara Raja Batteries Ltd, Samsung SDI, Energizer Holding Inc., Luminous Power Technologies Private Limited, LG Energy Solution, Ltd., Duracell Inc., Panasonic Corporation, Siemens AG, Tesla Inc., Delta Electronics Inc., BYD Co. Ltd and NEC Corp. Large players are focused on expanding their production capacity and regional footprint through mergers and acquisitions to strengthen market presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.
