Surface disinfectant market in the Latin America was accounted at about $580 million in 2019, and is slated to grow at a CAGR of 6.5% over the estimated timeframe. Whereas the MEA surface disinfectants industry would register a considerable CAGR of 5.6% over the coming years, surpassing a valuation of approximately $490 million by the end of the analysis timeline.
Due to increasing consumer inclination towards the use of bio-based products, the Europe surface disinfectant market is expected to witness strong growth over the forecast period. The detergents and maintenance products industry of Europe has shown guidelines to the public concerning the significance of good hygiene practice due to the spread of COVID-19 virus. Growing awareness can majorly shape the regional industry growth in the future.
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A research report published by Global Market Insights, Inc., estimates that the surface disinfectant market could reach USD 8.5 billion by the end of 2026.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
2. Reckitt Benckiser Group llc
3. Proctor & Gamble
4. The Clorox Company
5. STERIS Plc.
7. Lanxess AG
8. Neogen Corp.
10. Cantel Medical
11. Johnson & Johnson
12. Diversey, Inc.
14. Metrex Research, LLC
15. Whiteley Corporation.
Disinfectants are chemical agents that are applied on regular objects like tables, chairs, etc. to limit the growth of mildews or fungi, mold, bacteria and viruses. Usually, people use disinfectant sprays to sanitize nearby areas and objects. The ongoing COVID-19 pandemic has proliferated the demand for disinfectants for proper cleaning and hygiene. The virus, which has currently infected over 40 million people and killed over 1 million patients, is highly contagious. As a result, surface disinfectants have become essential to sanitize public and private spaces.
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In terms of end-users, the surface disinfectant market is mainly bifurcated into hospitality, healthcare, residential and food & beverage sectors. Out of these, the hospitality sector is anticipated to exhibit substantial growth, reaching USD 769.53 million within the predicted timeframe. This growth can be attributed to growing prevalence of food-borne infections and mounting need for hygienic dining areas in the hospitality sector. Rising incidence of infection transmitted diseases like the COVID-19 might boost awareness among consumers on the benefits of surface disinfectants in households.
Online distribution channels are steadily becoming a prominent option for consumers to buy disinfectant products. These platforms provide the option to choose from a wide range of brands while comparing the prices of their substitutes at the same time. Additionally, e-commerce platforms offer heavy discounts and door-step delivery options on disinfectant products.
Companies operating in the surface disinfectant market are concentrating on a number of organic as well as inorganic growth strategies like collaborations, mergers and product development to enhance their market share and production capacity. Taking October 2020 for instance, Berger Paints India Ltd. collaborated with researchers from IIT Guwahati to develop a new type of disinfectant that had longer time efficacy and did not require multiple uses on a daily basis.
Key players profiled in the surface disinfectants market are 3M Group, Reckitt Benckiser Group llc, Proctor & Gamble, The Clorox Company, STERIS Plc., Ecolab, Lanxess AG, Neogen Corp., Dupont, Cantel Medical, Johnson & Johnson, Diversey, Inc., CarroLLClean, Metrex Research, LLC and Whiteley Corporation.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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