Exponential Demand Growth Projected for Sterilant and Disinfectant Chemicals Through Q2 2020

DUBLIN 2, Ireland - Aug. 17, 2020 - PRLog -- 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.

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.

Read Report- https://www.factmr.com/report/4701/sterilant-and-disinfec...

Key Drivers

• 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.

Key Impediments

• 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/media-release/1450/global-sterilan...