New York, United States , Nov. 17, 2022 (GLOBE NEWSWIRE) -- The Global Surface Disinfectant Market Size to grow from USD 4.27 billion in 2021 to USD 6.07 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 4.0% during the forecast period. Global Surface Disinfectant Market demand is expected to increase due to the expansion is attributed to a number of factors, including changes in lifestyle in developing countries, an increase in livestock farmers' awareness of animal diseases, and a rise in the demand for disinfectants for use in livestock farms.
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The Chemical segment to account for the largest market size during the forecast period
Based on the Composition, the global Surface Disinfectant Market is categorized into Chemical and Biobased. The Chemical segment accounts for the largest market size during the forecast period. The Chemical segment is anticipated to be the leading category during the anticipated years. This is due to the increased use of hydrogen peroxide for surface disinfection in hospitals and in sectors like food packaging. Additionally, it is projected that increased use of alcohols and quaternary ammonium compounds will positively affect market growth.
The In-house segment to hold a higher CAGR during the forecast period
Based on the Application, the Surface Disinfectant Market is categorized into In-House, Instruments and Others. The In-house segment to hold a higher CAGR during the forecast period. Throughout the forecast period, the In-house segment is anticipated to maintain its leading position while expanding at the fastest CAGR. The significant increase in product demand for routine cleaning tasks and disinfecting the interiors of homes, especially as a result of the ongoing pandemic situation, is responsible for the In-house segment high market share. Industrial, commercial, and domestic surfaces can all be applied inside.
COVID-19 Analysis & Impact
The COVID-19 outbreak has negatively impacted credit portfolios. The enormous growth has hampered the solvency of customers and businesses in unemployment and interruption of economic activity. Central banks have adopted a proactive strategy of injecting money into the market by decreasing interest rates and implementing asset purchase programmes. With persistent geopolitical tensions, global trade battles, and sporadic hurricanes and earthquakes, managing and monitoring credit, market, liquidity, and operational risk across financial markets was challenging enough. Chief risk officers and their teams have had to reevaluate outdated methods and assumptions used to manage and monitor risk due to the present pandemic crisis. The global repercussions of COVID-19 have demonstrated the significance of interconnection in international cooperation. As a result, many governments have been hurrying to find, assess, and buy trustworthy AI-powered solutions.
Browse key industry insights spread across 201 pages with 170 market data tables and figures & charts from the report “Global Surface Disinfectant Market Size, Share, and COVID-19 Impact Analysis By Composition (Chemical and Bio-based), By Application (In-House, Instruments and Others), By Form (Liquid, Wipes and Sprays), By End-use (Hospitals, Laboratories, Households, Hotel/Restaurants/Cafes (HORECA), Educational Institutes, Malls, Railways, Airports, Food Processing Industries and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), Analysis and Forecast 2021 – 2030.” in detail along with the table of contents.
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The Liquid segment to hold a higher CAGR during the forecast period.
Based on the Form, the Surface Disinfectant Market is categorized into Liquid, Wipes and Sprays. The Liquid segment to hold a higher CAGR during the forecast period. The widespread demand of the Liquid segment is primarily responsible for the market growth. This significant share is a result of the enormous selection of liquid applications in the industrial and domestic sectors for kitchen fixtures, glazed ceramic tile, windows, plastics, exterior applications surfaces, vinyl, and glass. These surface cleaners are available in low-viscosity liquid and/or gel forms. Chemicals that are poisonous, antimicrobial, or biocidal that can be used on contaminated surfaces are liquid disinfectants. Surface cleaners made of biomaterials are often applied as liquids. One of the most often used liquid disinfectants in the cattle business is sodium hypochlorite. Such liquid disinfectants are used to reduce the risk of contracting various diseases and treat infections in cattle because they are an aqueous solution unaffected by water hardness.
The Hotel/Restaurants/Cafes (HORECA) segment to hold a higher CAGR during the forecast period.
Based on the End-use, the Surface Disinfectant Market is categorized into Hospitals, Laboratories, Households, Hotel/Restaurants/Cafes (HORECA), Educational Institutes, Malls, Railways, Airports, Food Processing Industries and Others. The Hotel/Restaurants/Cafes (HORECA) segment to hold a higher CAGR during the forecast period. The widespread demand of the Hotel/Restaurants/Cafes (HORECA) segment is primarily responsible for the market growth. During the projection period, the Hotel/Restaurants/Cafes (HORECA) segment will maintain its leading market position while expanding at the quickest CAGR. Due to the increasing requirement to maintain the hygiene in these areas, sanitising and disinfecting the common areas, swimming pools, bedrooms, lobbies, etc., is the primary cause of the Hotel/Restaurants/Cafes (HORECA) segment's large market share. Hospitals are among the crucial end users as they are the most susceptible to illnesses brought on by bacteria, fungus, and viruses.
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North America is estimated to account for the highest market share in 2021.
The Global Surface Disinfectant Market has been segmented into five major regions: North America, Europe, Asia-Pacific, South America, The Middle East and Africa. The demand for Surface Disinfectants is being driven by the rising acceptance by the market. This is because many regulatory agencies, including the U.S. Environmental Protection Agency (EPA) and Health Canada, have given their approval for the use of these disinfection products in their respective nations. The market expansion in North America over the past several years has been driven by the constantly changing legislation, healthcare spending, awareness of health & hygiene, and increased R&D activity among surface disinfectant formulators, raw material manufacturers, and end-users. Asia Pacific to hold a higher CAGR during the forecast period.
Key Companies & Recent Developments: The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Surface Disinfectant Market include PDI, Inc., GOJO Industries, Inc., W.M. Barr, Spartan Chemical Company, Inc., W.W. Grainger, Inc., Carenowmedical, Reckitt Benckiser Group PLC, PaxChem Ltd., BODE Chemie GmbH, Star Brands Ltd., The 3M Company, Ecolab, Procter & Gamble, The Clorox Company, Whiteley Corp., Lonza, SC Johnson Professional, BASF SE, Evonik Industries AG, Kimberly-Clark Corporation (KCWW), and Medline Industries, Inc. and others 20+ prominent key players we have added in the final report. Global Economy: Recession Risk Rising Analysis and Russia-Ukraine Conflict War Impact we have added in the report.
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