The global surface disinfectant products market is expected to witness significant growth over the forecast period on account of increasing stringent government regulations regarding the usage of surface disinfectants. The government has implemented policies and guidelines for the use of disinfectants in services like housekeeping. Such guidelines are expected to propel the growth of the market around the globe.
The major factors driving the growth are rising awareness regarding health, safety, and sanitization. Furthermore, increasing cases of surgeries, rising number of chronic illness coupled with growing trend of health gyms and clubs are also contribution to the growing demand for the product.
Additionally, the breakdown of COVID-19 pandemic has generated awareness regarding hygiene and safety amongst general public as well as government. This has influenced the increased expenditure on the healthcare industry, thus, providing growth opportunities for the manufacturers of disinfectants in the various countries such as India, China, U.S., and Brazil.
The manufacturers are also involved in the development of different types and kinds of disinfectants, which is further attracting the customers. However, the lack of knowledge among the buyers regarding the use of products act as a restraint in the market growth. In addition, presence of substitutes coupled with several health and environmental hazards associated with surface disinfectant products is further expected to hamper the demand globally.
On the basis of product, the market is segmented into wipes, sprays and liquid. The liquid segment dominated the market and is further expected to grow at a significant CAGR on account of easy and multiple usage of the product. The liquid form has wide range of application in household as well as industrial sector.
The end use of product includes hospitals, laboratories, households, hotels, restaurants, educational institutes, malls, railways, airports, and food processing industries. The public areas such as hotels, malls and airports are expected to hold major share owing to the high requirement of sanitizing the areas such as lobbies, pools and other common areas.
North America is anticipated to dominate the global market and is further expected to grow at a significant pace over the forecasted period. The growth is attributed towards the presence of various regulations by several authorities of countries such as U.S. and Canada to use the disinfectants to maintain hygiene.
The major players include PDI, Inc., GOJO Industries, Inc. and Spartan Chemical Company, Inc. The market is characterized by high competition owing to the presence of large manufacturers indulged in catering the demand from large end user industries. Additionally, they are highly investing in research & development with the focus on the development of bio-based disinfectant products to substitute the chemical based disinfectors, thus creating new growth opportunities.
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