Alcohol Based Disinfectants Market Trends

Growth Drivers

• Growing Awareness Regarding Disinfectants in Various Sectors

Rising awareness regarding the use of alcohol based disinfectants for the improvement of health by regulatory bodies and various brands is accelerating the market growth. The disinfectant industry was worth USD 3 billion in 2021 across the world and is projected to reach USD 4 billion in 2026.

• Rising Demand in Paint, Cosmetic, and Soap Industries across the World – The use of paints and coatings across the world in 2022 was worth USD 160 billion.
• Growing Hospitals and Research Laboratories with an Increasing Patient Population – The research and development expenditure in academic institutions in 2020 was estimated to be USD 85 billion across the U.S.
• Increasing Use in the Agricultural Sector with Increasing Demand for Food Crops – The agriculture, food, and related sectors were
•  estimated to contribute more than 5% of the gross domestic product in the U. S. in 2021.
• Increasing the Food and Beverage Industry across the World – The food and drink sector in the United States was worth USD 2 billion in total in 2022.

Challenges

• Availability and Low Cost of Non- Alcohol Based Disinfectants

The low prices of non-alcohol based disinfectants and the increasing perception of consumers regarding alcohol based disinfectants that they consist of harmful chemical ingredients are hampering the growth of the market. Further, some alcohol based disinfectants have toxic properties which make them dangerous for cleaning personnel and can cause environmental hazards. Hence, these factors are expected to hinder the market growth.

• Increasing Disruption in the Supply Chain and Production of Raw Materials
• Growing Skin Irritation, Rashes, and Inflammation owing to the Presence of Chemicals