Albany, NY -- (SBWIRE) -- 07/05/2018 -- The global surface disinfectant market is predominantly driven by the increasing awareness generally about hygiene and cleanliness among individuals. Another crucial factor stoking growth is efforts from state authorities to raise awareness about the importance of hygiene and cleanliness, and regulations in place for the same that commercial establishments need to adhere to.

The rising education level and rising disposable incomes in emerging economies resulting in increasing use of disinfectants to prevent germs from breeding is also acting in favor of the market. On the flip side, acting as a barrier to the growth of the market is reactivity of certain chemical formulations, which is limiting their use. The incessant use of these products resulting in several microorganisms develop resistance towards these products is also challenging the growth of global surface disinfectant market.

A report by Transparency Market Research forecasts the global surface disinfectant market to expand at a CAGR of 10.4% for the forecast period between 2016 and 2024 and attain a value of US$1.77 bn by 2024. The market was worth US$802.9 mn in 2016.

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The application segments into which the global surface disinfectant market is segregated are hospitals and clinics, outpatient surgical centers, restaurants and food chains, households, and others. Of them, hospitals, clinics, and outpatient surgical centers are currently the leading end-use segments of surface disinfectants. However, the segment of restaurants and food chains is expected to surpass other segments in terms of growth rate over the forecast period. This is mainly because of hygiene and cleanliness regulations in place that food service establishments need to adhere to for food safety.

Enforcement of Hygiene and Cleanliness Standards for Commercial Establishments Pushes Asia Pacific to Dominant Position

The key segments of the market, based upon geography are North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Asia Pacific is expected to emerge as a significant market for surface disinfectants aided by the rising disposable incomes, cleanliness and hygiene regulations in place by state authorities, and the expanding construction sector. The regional market is expected to expand at a CAGR of 11.3% between 2016 and 2024.

The Middle East and Africa is expected to display second-leading growth rate followed by Latin America over the forecast period. North America and Europe are expected to display slow growth rate on account of being mature markets for surface disinfectants.

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Some of the leading players in the global surface disinfectant market are Johnson & Johnson Services Inc., Proctor & Gamble, Kimberly-Clark, Henry Schein, DuPont, 3M, Cantel, Clorox, Ecolab, and GOJO Industries.