The alcohol based disinfectant market is predicted to demonstrate a huge growth potential, owing to massive competition observed among the key participants in the market, claims a research report by Zion Market Research. The key players of Global alcohol based disinfectant market are 3M Company, DuPont, Vaportek Inc., Kao Corporation, and Ecolab Inc. These industry giants have been competing on the basis of high R&D investments, M&A, product innovations, and geographical expansions. Analysts predict that the firms will continue to implement the same strategies in the coming years in order to gain a competitive edge.
According to the Zion market research study, the alcohol based disinfectant market, valued at USD 1.30 billion in 2015, is anticipated to record a CAGR of 8.5% during the period of 2016-2021. Analysts predict that the market will touch nearly USD 2.30 billion by 2021, in terms of revenue. N-propyl alcohol, ethyl alcohol, methyl alcohol, and Isopropyl alcohol are the four main types of alcohol based disinfectants available in this market.
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Escalating Requirement Of Sanitation & Hygiene To Upswing Growth
“Growing awareness about personal hygiene and need to reduce hospital-acquired infections will drive the demand for alcohol based disinfectants over the forthcoming years,” says a research analyst at ZMR. Alcohol based disinfectants are widely used in food sanitization process. This is predicted to drive the market trends. Alcohol –based hand sanitizers, which contributed nearly 60% towards alcohol based disinfectants market share, will continue to make substantial contributions towards the industry size over the coming years. The growth can be attributed to the ability of these products to destroy over 90% of germs within a few moments.
The ability of alcohol based disinfectants to deactivate vegetative forms of virus, bacteria, and fungi is projected to create lucrative growth avenues for the market. However, rise in the application of non-alcoholic based disinfectants can impede the expansion of alcoholic based disinfectant market in the years to come.
North America To Continue Dominating Regional Growth
The geographical segmentation of the global alcohol based disinfectant market is also discussed in this research report. North America, Asia Pacific, the Middle East and Africa, Latin America, and Europe have been considered as the key regional markets for alcohol based disinfectant for the study. In 2015, North America accounted towards a major share of alcohol based disinfectant market and will continue to dominate the market over the next few years.
With rapidly surging population and increase in healthcare expenses, APAC alcohol based disinfectant market is anticipated to register a rapid growth during the period from 2016 to 2021.
The Alcohol Based Disinfectant Market is segmented as follows:
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