North America is expected to be one of the most promising markets for growth in the coming years. The US in particular will stand out with an expected share of 88% over this period – an increase over the CAGR of 4% between 2017-2022. Even as demand in North America hits all new highs, the UK market also looks poised to reach a steady 3.4% CAGR over the forecast period
NEWARK, Del, Jan. 18, 2023 (GLOBE NEWSWIRE) — The size of the surface disinfection chemicals market is expected to be worth $3.9 billion by 2023, rising to $5.8 billion by 2033. with a significant CAGR of 4.1% over the forecast period.
Leading manufacturers of chemical surface disinfectants have tremendous opportunities with the advent of advanced disinfection solutions and growing economies. Due to the increasing risk of disinfectants for humans, numerous start-ups in the surface disinfectant chemical industry worldwide have created a variety of alternatives to traditional chemical-based disinfectants.
Rising healthcare costs and increased awareness of consumer hygiene are the two main drivers of the market. In addition, the market is growing as infectious diseases such as hepatitis, HIV and other hospital-acquired illnesses become more prevalent.
As people become more aware of the various diseases associated with healthcare, the demand for surface disinfection chemicals is expected to increase. The market is also expected to grow in the coming years due to changing lifestyles and an increase in surgical procedures.
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Manufacturers have historically been most concerned about issues such as government restrictions on the use of synthetic chemicals and a shift in consumer preference for environmentally friendly products.
However, the market is generally expanding due to the constantly growing demand from various industries and the implementation of strict safety and hygiene standards. The demand for surface disinfection chemicals is largely driven by end users in the commercial and institutional sectors.
Key learning points
The UK surface disinfection chemicals market is expected to grow at a CAGR of 3.4% over the projected period. By 2033, the industry in the UK is expected to exceed $166.6 billion.
The surface disinfectants market grew at a CAGR of 4.6% between 2017 and 2022, citing FMI’s research.
The surface disinfectant chemicals market in the US is expected to grow at an adequate CAGR of 3.8%. By 2033, the US market is expected to have contributed more than US$1.0 billion in revenue.
The Japanese market sector for surface disinfection chemicals is estimated to be worth more than $320 million by 2033.
Between 2023 and 2033, South Korea’s surface disinfectant chemicals market is likely to increase at a CAGR of 4.6% respectively.
Quaternary ammonium compounds dominate the surface disinfectant market, with a CAGR of 4.1% by 2033.
On the basis of end user, commercial and institutional segments dominate the surface disinfection chemicals market, with a CAGR of 4.2% by 2033.
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Taking advantage of the rising global demand, companies in the surface disinfectant chemicals market are working to increase production capacity through strategic acquisitions and partnerships with other manufacturers.
Leading chemical producers of surface disinfectants are focusing on creating new marketing strategies and using advanced technologies to increase their customer base. Leading manufacturers of surface disinfection chemicals focus on regulating and optimizing delivery efficiency to remain competitive in the marketplace. They do this by increasing their productivity, operational effectiveness and lead time reduction.
Lanxess formally announced in 2020 that it planned to increase its capacity for the production of oxone monopersulfate, a critical component of disinfection formulations, by approximately 50%.
Lonza increased its microbiology capacity in 2020 and extended its long-standing partnership with Servier for the production of L-asparaginase API.
Evonik Industries AG
Lonza Group AG
Mitsubishi Gas Chemical Company, Inc.
Hodogaya Chemical Co., Ltd.
Hansol Chemical Co., Ltd.
Dishman Carbogen Amics Ltd.
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1.1. Global Market Outlook
1.2. Trends on the demand side
1.3. Trends on the supply side
1.4. Technology Roadmap Analysis
1.5. Analysis and recommendations
2. Market overview
2.1. Market Coverage / Taxonomy
2.2. Market definition / scope / limitations
3. Market background
4. 2017-2022 Global Market Analysis and Forecast, 2023-2033
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