- Increase in demand from the building & construction sector and surge in consumer awareness toward infectious diseases drive the growth of the global antimicrobial and disinfectant chemicals market.
PORTLAND, Ore., Dec. 8, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Antimicrobial & Disinfectant Chemicals Market by Function (Disinfectants & Sanitizers and Antimicrobial Additives), Product Type (Phenolics, Iodophors, Nitrogen Compounds, Organometallics, Organosulfur, Aldehydes, and Other Chemicals), and End Use (Paint & Coatings, Food & Beverage Processing, Medical & Health Care, Plastics, Textiles, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027."According to the report, the global antimicrobial and disinfectant chemicals industry was estimated at $9.1 billion in 2019, and is anticipated to hit $17.1 billion by 2027, registering a CAGR of 6.7% from 2020 to 2027.
Drivers, restraints, and opportunities-
Increase in demand from the building & construction sector and surge in consumer awareness toward infectious diseases drive the growth of the global antimicrobial and disinfectant chemicals market. On the other hand, technological advancements & presence of alternative methods impede the growth to some extent. However, rise in demand from the food processing and water & wastewater treatment industry is expected to create multiple opportunities for the key players in the industry.
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Covid-19 scenario-
- Rise in awareness among consumers toward personal hygiene and sanitization impacted the global market for antimicrobial and disinfectant chemicals positively.
- Also, most of the countries across the world are abiding by the strict measures imposed such as maintaining social distancing, disinfecting surfaces, and limiting movements to prevent the spread of coronavirus. This, in turn, led to increase in demand for disinfectant & antimicrobial chemicals.
The disinfectants & sanitizers segment to retain its dominance by 2027-
Based on function, the disinfectants & sanitizers segment contributed to nearly three-fifths of the global antimicrobial and disinfectant chemicals market share in 2019, and is expected to lead the trail by 2027. Rise in awareness towards hygiene practices fuels the growth of the segment. The antimicrobial additives, on the other hand, would register the fastest CAGR of 6.8% during the forecast period, due to increase in demand for antimicrobial additives from various industries.
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The organosulfurs segment to rule the roost-
Based on type, Organosulfurs segment accounted for more than one-fourth of the global antimicrobial and disinfectant chemicals market revenue in 2019, and is anticipated to maintain the lion's share by the end of 2027. Rise in utilization of organosulfur compounds in the therapeutic applications owing to the antimicrobial and anti-fungal properties is anticipated to drive the growth of the segment. Simultaneously, the organometallics segment would manifest the fastest CAGR of 7.4% from 2020 to 2027. Increase in demand for organometallics from the paint & coatings industry propels the segment growth.
Asia-Pacific held the major share in terms of revenue, North America to grow at a moderate rate-
Based on geography, Asia-Pacific garnered the highest share in 2019, holding nearly half of the global antimicrobial and disinfectant chemicals market. The same region would also portray the fastest CAGR of 6.9% during the forecast period. This is owing to the large number of key players and availability of the manufacturing facilities in countries such as India, Japan, and China.
Frontrunners in the industry-
- Clariant AG
- BASE SE
- DOW chemicals
- Ecolab Incorporated
- Lonza Group
- Solvay
- Stepan Group
- The 3M Company
- Lanxess AG
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