Upheaval in demand for isopropyl alcohol and ethyl alcohol based surface disinfectants caused by the ongoing outbreak is shaping the industry.
ROCKVILLE, MD / ACCESSWIRE / May 25, 2020 / Over 100 countries across the globe are under some form of lockdown in the wake of COVID-19 pandemic. The World Health Organization (WHO) has repeatedly stressed on the importance of washing hands, sanitizing, and disinfecting surfaces to prevent viral infections. This is the key growth lever of global sterilant and disinfectant chemicals market. European countries and the US have collectively reported 150% sharp increase in sales of sterilant and disinfectant chemicals as of March, 2020. According to Fact.MR analysts, the alcohol segment is projected to witness a strong growth at approximately 7% CAGR during the forecast period (2020-2030).
“Forward integration strategy is being followed by leading producers of disinfectant chemicals in order to manufacture disinfectant products to meet the unprecedented demand,” reports Fact.MR.
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Key Takeaways of Sterilant and Disinfectant Chemicals Market
- Hospitals and households are prominent end-use areas in view of greater demand for sterilant and disinfectant chemicals.
- Chlorine and alcohol based compounds continue to generate over 50% demand in view of their greater effectiveness.
- Liquid disinfectant segment will carve out significant chunk of revenue share in the sterilant and disinfectant chemicals market.
- North America holds the leading market share owing to the presence of leading manufacturers in the region.
- Escalating per capita consumption of disinfectant gels and hand sanitizers is favoring the market growth, particularly in Europe and the United States.
- Heightening demand from water treatment and healthcare industry is projected to bode well for market growth.
- Proliferation of diseases caused by viruses, bacteria, and other pathogens will contribute substantially to revenue pool over the projection period.
- Shifting lifestyle standards coupled with increasing population will support the growth of sterilant and disinfectant chemicals market in emerging economies.
- The second quarter may register stagnant demand for sterilant and disinfectant chemicals under pessimistic scenario, before returning to normal by third quarter.
- Environmental implications associated with the use of sterilant and disinfectant chemicals will hamper the market growth once the pandemic begins to subside.
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Anticipated Impact of COVID-19 on Sterilant and Disinfectant Chemicals Market
The worldwide supply chain and production of chemicals have been severely hampered due to regional and national lockdown imposed amid fear of COVID-19 pandemic. The impact of current crisis is rather complex on the chemicals industry. While there is an enormous demand for sterilant and disinfectant chemicals, the limited capacity of major manufacturers is a barrier to fulfill this soaring demand. However, manufacturers continue to scale up their capacity through mergers and acquisitions along with strategic partnerships. Hence, the consistent uptick in demand is projected to maintain exponential curve through the second quarter of 2020.
Competition Landscape of Sterilant and Disinfectant Chemicals Market
Some of the leading companies in sterilant and disinfectant chemicals market that are profiled in this Fact.MR study include, but are not limited to, Valtris Specialty Chemicals, LANXESSS, DuPont, Clariant International, Solvay, Ashland, Inc., Arkema, and BASF. Top manufacturers of sterilant and disinfectant chemicals continue to tackle the capacity constraints and supply chain disruptions posed by COVID-19. Donations and capacity expansion activities are being prioritized by globally leading producers of sterilant and disinfectant chemicals. For instance, Perstorp Specialty Chemicals Inc. began mass production of surface disinfectants and hand sanitizers with about 2 million liters per month worth of total capacity.
About the Report
This 170-page study offers in-depth commentary on the sterilant and disinfectant chemicals market. The study provides compelling insights on the sterilant and disinfectant chemicals market on the basis of type (peracetic acid, alcoholds, aldehydes, hydrogen peroxide, and quaternary ammonium compounds), application (water disinfectants, air disinfectants, and surface disinfectants), and activity (high level disinfectants, intermediate level disinfectants, and low level disinfectants) across six regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and Middle East & Africa).
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