According to a new research report by Global Market Insights Inc., the Alcohol Based Disinfectants Market is set to surpass USD 3.75 billion by 2026., Rising usage of alcohol based disinfectants in residential, commercial and industrial sectors will foster industry growth during the study timeframe.
Disinfectants are chemical agent that inactivate or kill microorganisms on inert surfaces. Alcohol-based disinfectants are considerably fast-acting agents capable of inactivating or kill bacteria which has increased its demand in COVID-19 pandemic. Rising hygiene concerns among consumers has prompted the demand for alcohol-based disinfectant market across the globe. Additionally, its adoption is increasing rapidly across commercial, residential and industrial sectors for equipment sterilization such as office accessories, furniture, electronics, and others.
Rapid spread of infectious diseases and the rising consumer awareness towards healthcare has spurred massive demand from hospitals, offices and other sectors. This factor is projected to fuel the growth of alcohol based disinfectants market share. There has been a sudden rise in number of infections over the past few months on a global level as observed by medical and pharmaceutical industries. Therefore, usage of alcohol based disinfectants has been made obligatory among end-users.
Recent spurt in coronavirus pandemic cases has bolstered the need for disinfectant chemicals
Isopropyl alcohol segment garnered a share of approximately 44% in 2019 and is projected to grow with a CAGR of 10.7 % over the forecast period, owing to the leap in demand for hand sanitizers and medical disinfectants.
During the ongoing COVID-19 pandemic, shipments of essential goods and products are at the forefront, which has surged the market demand. Government and other regulatory bodies are focusing on accelerating the supply of healthcare essentials, such as hand sanitizers and disinfectants, among other products, to citizens during the legislated lockdowns, in order to keep them safe. Ease of access to alcohol based disinfectants via online channels and retail shops is fueling the alcohol based disinfectants market demand across the globe, especially where this pandemic has hit hard.
Isopropyl alcohol-based disinfectants efficiently kill harmful microbes as they contain anti- microbial properties. These solutions kill germs and bacteria and evaporate easily, and are widely adopted for applications in commercial, residential and industrial sectors. Moreover, isopropyl alcohol based disinfectants have massive demand in food and hospitality industries, especially for the food sanitization process. Immense usage of isopropyl alcohol in wipe form in personal care products are also witnessing the favorable growth to the alcohol based disinfectants market.
Browse key industry insights spread across 220 pages with 308 market data tables and 17 figures & charts from the report, “Alcohol Based Disinfectants Market by Product (N-Propyl Alcohol, Methyl Alcohol, Ethyl Alcohol, Isopropyl Alcohol), By Usage Form (Spray, Gel, Wipes, Liquid), By End-Use (Residential, Commercial (Hospitals, Commercial Buildings, Schools, Office Spaces) Industrial (Agriculture, Food & Beverage)), Regional Outlook, Projected To Reach USD 3.79 Bn by 2026), Competitive Market Share & Forecast, 2015 – 2026” in detail along with the table of contents:
Rising prevalence of Infectious diseases will augment alcohol-based disinfectants market size
“According to market analysis and trends, alcohol based disinfectants from commercial application is expected to register a CAGR 12.1% from 2020 to 2026.”
Alcohol based disinfectants have multiple end-uses including cleaning and disinfecting surfaces for renewed operations. Commercial segment garnered a market revenue of USD 815.1 Million in 2019. These products can be directly sprayed on surfaces, owing to their usage form factors. Additionally, the sudden rise in demand from offices spaces, commercial buildings and other industrial facilities for cleaning of electronic equipment, streets, societies and municipalities is boosting the alcohol based disinfectants market. Moreover, consumers are preferring to carry disinfectants for personal use, which is also one of the primary factors fueling market demand.
“As per industry forecasts, Asia Pacific is forecast to cross USD 646.6 million by 2026 owing to large population base and increasing rate of infectious diseases.”
Rapid increase in the prevalence of health issues stemming from unhygienic living conditions is surging the market demand for the alcohol-based disinfectant. Asia Pacific market consists of highly populated countries, such as China and India, and the regional market is witnessing a high demand for disinfectants. Additionally, COVID-19 has grievously affected countries in Asia Pacific including India, China and Indonesia, which is further propelling the market demand.
Manufacturers operating in the alcohol based disinfectants are engaged in multiple strategic initiatives including collaboration, acquisition & mergers and production capacity enhancements, in order to strengthen their product portfolio and market presence across the globe. For instance, on 24 Feb. 2016, Reckitt Benckiser launched innovative product solution named “Dettol Gold” that offers increased protection against germs and new-age illnesses. Through this, the company has strengthened its product portfolio and enhanced its market attractiveness.
Some of the key players operating in the alcohol-based disinfectants industry are Ecolab Inc., DuPont, Reckitt Benckiser, 3M Company, BODE Chemie GmbH, Johnson & Johnson, BODE Chemie GmbH, Acuro and Organics Limited.