Exploring Nanotechnology in the Disinfectants Market Revolution

Disinfectants are chemical compounds that are applied on inanimate surfaces to destroy microorganisms. These are used in hospitals, clinics and other healthcare facilities to prevent the spread of infectious diseases. The growing prevalence of hospital-acquired infections and increased awareness regarding hygiene and cleanliness are augmenting the demand for disinfectants from healthcare sector.

The global disinfectants market is estimated to be valued at US$ 49.00 Bn in 2024 and is expected to exhibit a CAGR of 6.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:
The increased opportunities in healthcare facilities is estimated to drive the growth of disinfectants market. With the rising geriatric population who are more susceptible to infections, the demand for disinfectants from hospitals and clinics is growing substantially. According to WHO, older persons aged 60 years and over numbered 962 million in 2017, and it is projected to reach nearly 2.1 billion by 2050. The growing elder population will increase the risk of diseases and hospitalization rates, thereby augmenting the demand for disinfectants from healthcare industry. As disinfectants play a crucial role in preventing hospital acquired infections, the market opportunity from healthcare facilities segment is quite high during the forecast period.

Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderately low in the disinfectants market due to high capital requirements for manufacturing and stringent regulations.
Bargaining power of buyers: The bargaining power of buyers is high due to availability of numerous product alternatives and low switching costs.
Bargaining power of suppliers: The bargaining power of suppliers is moderate due to differentiated inputs and availability of substitute suppliers.
Threat of new substitutes: The threat of new substitutes is moderate as there is ongoing research on developing safer alternatives.
Competitive rivalry: The competitive rivalry is high among existing competitors due to presence of numerous national and international players.

SWOT Analysis
Strength: Disinfectants are essential products with consistent consumer demand. Market leaders have established brands and distribution networks.
Weakness: Over-dependence on limited number of raw materials increases procurement risk. Environmental and health regulations raise production costs.
Opportunity: Growth opportunities exist in emerging economies and product diversification and innovation and expansion of product applications.
Threats: Stringent regulations on product ingredients may restrict growth avenues. Economic slowdowns can decrease discretionary spending on disinfectants.

Key Takeaways

The global disinfectants market is expected to witness high growth during the forecast period of 2023 to 2030 supported by increasing health awareness and hygiene standards due to COVID-19 pandemic. The market size is projected to reach US$ 49.00 Bn by 2024.

Regional analysis indicates that Asia Pacific will be the fastest growing region owing to rising incomes, large population and growth in health and hygiene sector in major economies like China and India. North America currently dominates the market supported by stringent hygiene regulations in healthcare and F&B industries.

Key players operating in the disinfectants market are Solvay S.A., Unilever Group, Evonik Industries AG, 3M Company, Procter & Gamble Corporation, dowdupont Inc., Lanxess AG, BASF S.E., The Clorox Company, and Reckitt Benckiser Plc. Market players are focusing on green product development and consolidating distribution channels to strengthen market presence.