- Disinfectants market to clock CAGR of ~7%, globally, during 2020-2030, demand for novel industrial disinfection technologies shapes unique product positioning
- Alternate cleaning technologies present stiff competition to incumbent players, uptake of hospital-grade eco-friendly disinfectants to expand opportunities
ALBANY, N.Y., April 7, 2021 /PRNewswire/ -- Disinfectants comprise a wide array of chemicals used to kill or impede spread of microorganisms, including bacteria, in a range of hospitals, commercial, and domestic setting. A key force behind the recent surge in the demand for certain disinfectants has been the ceaseless focus on disinfecting surfaces during COVID-19. The regulatory frameworks in various countries, such as by CDC and the WHO, endorsing the need for disinfectant to reduce the risk of the virus spread among populations has spurred the sales in recent months. The trend lent huge momentum to the opportunity in disinfectants market. In this regard, alcohol-based hand disinfectants have seen upsurge in sales. Different ingredients in the alcohol family are common ingredients used in the production of disinfectants, the reason having to do with their bactericidal properties. Various combinations of additives and formulations help manufacturers meet the spectrum of demands in the disinfectants market.
Garnering CAGR of ~7% from 2020 to 2030, the global market is anticipated to reach worth of US$ 14.9 Bn by 2030.
Demands in Food and Industrial Cleaning Applications Rise
Growing concern of food safety has propelled demand for formulations to prevent any contamination in food-processing and handling areas. Disinfectants are also used in numerous industrial applications. In all applications in the disinfectant market, product efficacy as well as safety characteristics are vital parameters in making the right choice of product. Vehicle disinfectant bays have witnessed rapid advancements, since they enable automatic disinfection of vehicle surfaces, leading to time-saving and high convenience.
Eco-friendly Disinfectants at Forefront of Product Innovation
The indiscriminate use of disinfectants in recent years has led to multiple health problems to users. Respiratory problems and disorders of central nervous systems are the key health concerns that have been observed in the conventional disinfectant formulations in hand disinfectants. Excessive use of chemicals in these formulations has been a flagging concern. More importantly, there is a genuine concern of these becoming largely ineffective in fighting off infections after prolonged use. Hence, in the light of all these factors there is a need for innovation on the line of using eco-friendly formulations in the newly developed products. This also forms a key strategy for capturing new consumer propositions.
Advancing R&D in Electrochemically Activated Solutions Help Ward off Competition
Electrochemically activated solution disinfection (ECAS) are attractive massive research and development among players in the disinfectant market. Over the years, alternate technologies have grown in substantial demand, notably in hospitals. For instance, high intensity ultrasound and pulsed UV technology are promising technologies. Thus, chemical companies in the disinfectant market are keen on exploring new chemistries and also technologies to fight the stiff competition. A case in point is the rapid adoption of hands-free sanitizer dispenser stands during the COVID-19 pandemic.
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