Exponential Demand Growth Projected for Sterilant and Disinfectant Chemicals Through Q2 2020
Upheaval in demand for isopropyl alcohol and ethyl alcohol based surface disinfectants caused by the ongoing outbreak is shaping the industry.
"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.
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.
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• 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.
Anticipated Impact of COVID-19
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.
PR Source- https://www.factmr.com/