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  • Refrigeration Coolers Market Size, Share, Trends, Analysis, and Forecast 2024-2031

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  • Biometric System Market Size, Share,Trends, Analysis, and Forecast 2024-2031
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  • Near-Eye Display Market Analysis with COVID-19 Impact on Business Growth, and Forecast 2024-2031

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  • Photonic Sensor Market Size, Share, Trends, Analysis, and Forecast 2024-2031

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    Gold Fields Limited (South Africa)
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    PJSC Polyus (Russia)
    Anglo American Platinum Limited (South Africa)
    Impala Platinum Holdings Limited (South Africa)
    The global precious metals market size was USD 261.94 billion in 2020. The industry is expected to expand from USD 275.40 billion in 2021 to USD 403.08 billion in 2028, exhibiting a CAGR of 5.6% from 2021 to 2028. The rise can be credited to increasing disposable incomes and changing lifestyle choices across various regions. This information is cited by Fortune Business Insights™ in its research report, titled “Precious Metals Market, 2021-2028”. Information Source - https://www.fortunebusinessinsights.com/precious-metals-market-105747 Segments: Gold Segment to Register Notable Growth Due to Escalating Disposable Income Based on type, the market for precious metals is segmented into silver, gold, and platinum group metals. The gold segment is expected to record commendable expansion over the forecast period. The rise can be attributed to the surging disposable income and escalating knowledge regarding investments among consumers. Based on region, the industry is subdivided into Europe, Asia Pacific, North America, South America, and the Middle East & Africa. Industrial Segment to Record Commendable Surge Impelled by Growing Silver Demand Based on application, the industry for precious metals is fragmented into jewelry, industrial, investments, and others. Of these, the industrial segment is anticipated to depict considerable growth over the estimated period. The expansion can be credited to the surging silver demand from photovoltaic manufacturers. The segmental growth is further being driven by the rising demand for solar panels. Report Coverage: The report provides an in-depth analysis of the major trends that are expected to drive business growth over the forthcoming years. It further gives a comprehensive coverage of the key factors anticipated to impel the industry landscape across various regions. Additional aspects of the report comprise the significant steps taken by leading companies for the consolidation of their market position. Drivers and Restraints: Market Value to Surge Driven by Changing Lifestyle Choices & Surging Disposable Income Precious metals market growth is primarily being impelled by changing lifestyle choices and surging disposable income. This is further being supplemented by the escalating significance of jewelry in the wedding ceremonies of India, China, and other South Asian countries. Besides, gold is considered as a safe haven for investment. However, industry growth is likely to be hindered by a range of factors such as government reserves, geopolitical uncertainties, inflation, currency fluctuations, and others. Regional Insights: Asia Pacific to Emerge as a Major Region Due to the Presence of Electronics & Electrical Industry in the Region Asia Pacific's precious metals market share is anticipated to register substantial growth through the forecast period. The surge can be credited to the presence of the largest electronics & electrical industry in the region. Further, India and China are key consumers of gold, which is expected to favor industry expansion to a considerable extent. The North American region is set to record commendable expansion over the estimated period. The rise can be attributed to robust manufacturing capabilities in the U.S. and the presence of precious mineral mines in the region. Competitive Landscape: Market Players Enter Partnership Agreements to Strengthen Industry Presence Leading companies are striking partnership deals and collaborations to strengthen their market presence. Several industry participants are focusing on a range of strategies including mergers, acquisitions, and the launch of new products to secure a competitive edge. Some of the additional initiatives include surging participation in trade fairs and conferences. Key Industry Development: May 2021 – Newmont Corporation acquired GT Gold to strengthen its portfolio. The deal comprised the Tatogga project, which would contribute to the production of gold and copper. List of Key Players Mentioned in the Report: Newmont Corporation (U.S.) Barrick Gold Corporation (Canada) AngloGold Ashanti Limited (South Africa) Kinross Gold Corporation (Canada) Newcrest Mining Limited (Australia) Gold Fields Limited (South Africa) Freeport-McMoRan (U.S.) PJSC Polyus (Russia) Anglo American Platinum Limited (South Africa) Impala Platinum Holdings Limited (South Africa)
    WWW.FORTUNEBUSINESSINSIGHTS.COM
    Precious Metals Market Size, Industry Share, Global Trends, Forecast, 2030
    The global precious metals market is projected to grow from $275.40 billion in 2021 to $403.08 billion in 2028 at a CAGR of 5.6% in forecast period, 2021-2028
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  • The global thermoplastic elastomers market is set to gain traction from the rising demand for bio-based products to increase sustainability and support environmental protection. Fortune Business Insights™ published this information in a new study, titled, “Thermoplastic Elastomers Market Size, Share & Industry Analysis, By Type (Styrenic Block Copolymers, Thermoplastic Polyurethane, Thermoplastic Vulcanizates, Thermoplastic Polyolefins, Copolyester Elastomers, and Others), By Application (Automotive, Building & Construction, Footwear, Electrical & Electronics, Medical, and Others), and Regional Forecast, 2020-2027.” The study further mentions that the thermoplastic elastomers (TPEs) market size was USD 26,856.8 million in 2019 and is projected to reach USD 39,424.6 million by 2027, exhibiting a CAGR of 5.7% during the forecast period.

    Information Source- https://www.fortunebusinessinsights.com/thermoplastic-elastomer-tpe-market-104515

    How is This Report Developed?

    We refer to secondary data sources, such as press releases of end-user facilities, investor presentations, annual reports, and industry journals to gather authentic information of the market. Our unique bottom-up approach helps in generating crucial data about the competitive landscape and recent industry developments, such as new product launches, collaborations, agreements, joint ventures, partnerships, contracts, and acquisitions. We also conduct extensive primary research to collect information about the current market trends.

    Drivers & Restraints-

    Increasing Need to Manufacture Automotive Gaskets to Aid Growth

    People nowadays are demanding for lightweight vehicles worldwide. Hence, the automotive industry is conducting research and development activities to bring innovations. Thermoplastic elastomers are extensively used in automotive gaskets, exterior filler panels, and door & window handles. However, the fluctuating prices of crude oil may hamper the thermoplastic elastomers market growth in the near future.

    Segment-

    Automotive Segment to Grow Rapidly Backed by High Demand for Lightweight Vehicles

    Based on application, the automotive segment dominated in 2019 by generating the largest thermoplastic elastomers market share. This growth is attributable to the rising demand for lightweight vehicles from the rapidly increasing population in numerous countries. TPEs are mainly used to manufacture boots, bonnets, exterior panels, and wipers of vehicles.

    Regional Insights-

    Surging Demand for Luxury Vehicles to Accelerate Growth in Europe

    In 2019, Asia Pacific held USD 14,226.7 million in terms of revenue. It was in the leading position because of the high demand for TPEs from the footwear, construction, and automobile industries. Also, improvements in lifestyles of people are set to augment the economic development in Japan, India, and China. These would surge the middle-class population, thereby driving growth.

    In North America, high disposable incomes of the masses, coupled with the rising technological advancements in the field of thermoplastic elastomers would propel growth. Europe, on the other hand, is expected to grow considerably backed by the increasing demand for luxury vehicles.

    Competitive Landscape-

    Key Players Focus on Expanding Production Capacity to Fulfill Needs amid COVID-19

    The market for thermoplastic elastomers contains various prominent manufacturers that are mainly focusing on extending their production capacities to help manufacturers of medical equipment for catering to the high demand amid COVID-19. Below are the two latest industry developments:

    August 2020: Lubrizol invested in its thermoplastic polyurethane business worldwide to support the high growth in surface protection applications. It would help the company to broaden its capacity in paint protection film (PPF) and surface protection, thereby delivering additional benefits to PPF supply chains, brand owners, and manufacturers.
    May 2020: Huntsman started producing thermoplastic polyurethane (TPU) elastomers for company manufacturing PPE globally. These are nowadays being extensively used to produce cable jackets, face masks, valves, hospital gowns, and tubes amid the COVID-19 pandemic.
    A list of all the renowned thermoplastic elastomers producers operating in the market:

    Arkema SA (Colombes, France)
    Covestro AG (Leverkusen, Germany)
    Evonik Industries AG (Essen, Germany)
    Teknor APEX Company (Rhode Island, U.S.)
    BASF SE (Ludwigshafen, Germany)
    Huntsman Corporation (Texas, U.S.)
    Sinopec Group (Beijing, China)
    Lubrizol Corporation (Ohio, U.S.)
    Kraton Corporation (Texas, U.S.)
    Tosoh Corporation (Tokyo, Japan)
    Other Key Players
    The global thermoplastic elastomers market is set to gain traction from the rising demand for bio-based products to increase sustainability and support environmental protection. Fortune Business Insights™ published this information in a new study, titled, “Thermoplastic Elastomers Market Size, Share & Industry Analysis, By Type (Styrenic Block Copolymers, Thermoplastic Polyurethane, Thermoplastic Vulcanizates, Thermoplastic Polyolefins, Copolyester Elastomers, and Others), By Application (Automotive, Building & Construction, Footwear, Electrical & Electronics, Medical, and Others), and Regional Forecast, 2020-2027.” The study further mentions that the thermoplastic elastomers (TPEs) market size was USD 26,856.8 million in 2019 and is projected to reach USD 39,424.6 million by 2027, exhibiting a CAGR of 5.7% during the forecast period. Information Source- https://www.fortunebusinessinsights.com/thermoplastic-elastomer-tpe-market-104515 How is This Report Developed? We refer to secondary data sources, such as press releases of end-user facilities, investor presentations, annual reports, and industry journals to gather authentic information of the market. Our unique bottom-up approach helps in generating crucial data about the competitive landscape and recent industry developments, such as new product launches, collaborations, agreements, joint ventures, partnerships, contracts, and acquisitions. We also conduct extensive primary research to collect information about the current market trends. Drivers & Restraints- Increasing Need to Manufacture Automotive Gaskets to Aid Growth People nowadays are demanding for lightweight vehicles worldwide. Hence, the automotive industry is conducting research and development activities to bring innovations. Thermoplastic elastomers are extensively used in automotive gaskets, exterior filler panels, and door & window handles. However, the fluctuating prices of crude oil may hamper the thermoplastic elastomers market growth in the near future. Segment- Automotive Segment to Grow Rapidly Backed by High Demand for Lightweight Vehicles Based on application, the automotive segment dominated in 2019 by generating the largest thermoplastic elastomers market share. This growth is attributable to the rising demand for lightweight vehicles from the rapidly increasing population in numerous countries. TPEs are mainly used to manufacture boots, bonnets, exterior panels, and wipers of vehicles. Regional Insights- Surging Demand for Luxury Vehicles to Accelerate Growth in Europe In 2019, Asia Pacific held USD 14,226.7 million in terms of revenue. It was in the leading position because of the high demand for TPEs from the footwear, construction, and automobile industries. Also, improvements in lifestyles of people are set to augment the economic development in Japan, India, and China. These would surge the middle-class population, thereby driving growth. In North America, high disposable incomes of the masses, coupled with the rising technological advancements in the field of thermoplastic elastomers would propel growth. Europe, on the other hand, is expected to grow considerably backed by the increasing demand for luxury vehicles. Competitive Landscape- Key Players Focus on Expanding Production Capacity to Fulfill Needs amid COVID-19 The market for thermoplastic elastomers contains various prominent manufacturers that are mainly focusing on extending their production capacities to help manufacturers of medical equipment for catering to the high demand amid COVID-19. Below are the two latest industry developments: August 2020: Lubrizol invested in its thermoplastic polyurethane business worldwide to support the high growth in surface protection applications. It would help the company to broaden its capacity in paint protection film (PPF) and surface protection, thereby delivering additional benefits to PPF supply chains, brand owners, and manufacturers. May 2020: Huntsman started producing thermoplastic polyurethane (TPU) elastomers for company manufacturing PPE globally. These are nowadays being extensively used to produce cable jackets, face masks, valves, hospital gowns, and tubes amid the COVID-19 pandemic. A list of all the renowned thermoplastic elastomers producers operating in the market: Arkema SA (Colombes, France) Covestro AG (Leverkusen, Germany) Evonik Industries AG (Essen, Germany) Teknor APEX Company (Rhode Island, U.S.) BASF SE (Ludwigshafen, Germany) Huntsman Corporation (Texas, U.S.) Sinopec Group (Beijing, China) Lubrizol Corporation (Ohio, U.S.) Kraton Corporation (Texas, U.S.) Tosoh Corporation (Tokyo, Japan) Other Key Players
    WWW.FORTUNEBUSINESSINSIGHTS.COM
    Thermoplastic Elastomer Market Size, Growth Rate, Report, 2032
    The global thermoplastic elastomer market size was USD 26,856.8 million in 2019 and is projected to reach USD 39,424.6 million by 2027, exhibiting a CAGR of 5.7% during the forecast period.
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  • The global precious metals market size was USD 261.94 billion in 2020. The industry is expected to expand from USD 275.40 billion in 2021 to USD 403.08 billion in 2028, exhibiting a CAGR of 5.6% from 2021 to 2028. The rise can be credited to increasing disposable incomes and changing lifestyle choices across various regions.

    Information Source - https://www.fortunebusinessinsights.com/precious-metals-market-105747

    Segments:

    Gold Segment to Register Notable Growth Due to Escalating Disposable Income

    Based on type, the market for precious metals is segmented into silver, gold, and platinum group metals. The gold segment is expected to record commendable expansion over the forecast period. The rise can be attributed to the surging disposable income and escalating knowledge regarding investments among consumers. Based on region, the industry is subdivided into Europe, Asia Pacific, North America, South America, and the Middle East & Africa.

    Industrial Segment to Record Commendable Surge Impelled by Growing Silver Demand

    Based on application, the industry for precious metals is fragmented into jewelry, industrial, investments, and others. Of these, the industrial segment is anticipated to depict considerable growth over the estimated period. The expansion can be credited to the surging silver demand from photovoltaic manufacturers. The segmental growth is further being driven by the rising demand for solar panels.

    Report Coverage:

    The report provides an in-depth analysis of the major trends that are expected to drive business growth over the forthcoming years. It further gives a comprehensive coverage of the key factors anticipated to impel the industry landscape across various regions. Additional aspects of the report comprise the significant steps taken by leading companies for the consolidation of their market position.

    Drivers and Restraints:

    Market Value to Surge Driven by Changing Lifestyle Choices & Surging Disposable Income

    Precious metals market growth is primarily being impelled by the changing lifestyle choices and surging disposable income. This is further being supplemented by the escalating significance of jewelry in the wedding ceremonies of India, China, and other South Asian countries. Besides, gold is considered as a safe haven for investment.

    However, the industry growth is likely to be hindered by a range of factors such as government reserves, geopolitical uncertainties, inflation, currency fluctuations, and others.

    Regional Insights:

    Asia Pacific to Emerge as Major Region Due to Presence of Electronics & Electrical Industry in the Region

    Asia Pacific precious metals market share is anticipated to register substantial growth through the forecast period. The surge can be credited to the presence of the largest electronics & electrical industry in the region. Further, India and China are key consumers of gold, which is expected to favor industry expansion to a considerable extent.

    The North America region is set to record commendable expansion over the estimated period. The rise can be attributed to robust manufacturing capabilities in the U.S. and the presence of precious mineral mines in the region.

    Competitive Landscape:

    Market Players Enter Partnership Agreements to Strengthen Industry Presence

    Leading companies are striking partnership deals and collaborations to strengthen their market presence. Several industry participants are focusing on a range of strategies including mergers, acquisitions, and the launch of new products to secure a competitive edge. Some of the additional initiatives include surging participation in trade fairs and conferences.

    Key Industry Development:

    May 2021 – Newmont Corporation acquired GT Gold to strengthen its portfolio. The deal comprised the Tatogga project, which would contribute to the production of gold and copper.

    List of Key Players Mentioned in the Report:

    Newmont Corporation (U.S.)
    Barrick Gold Corporation (Canada)
    AngloGold Ashanti Limited (South Africa)
    Kinross Gold Corporation (Canada)
    Newcrest Mining Limited (Australia)
    Gold Fields Limited (South Africa)
    Freeport-McMoRan (U.S.)
    PJSC Polyus (Russia)
    Anglo American Platinum Limited (South Africa)
    Impala Platinum Holdings Limited (South Africa)
    The global precious metals market size was USD 261.94 billion in 2020. The industry is expected to expand from USD 275.40 billion in 2021 to USD 403.08 billion in 2028, exhibiting a CAGR of 5.6% from 2021 to 2028. The rise can be credited to increasing disposable incomes and changing lifestyle choices across various regions. Information Source - https://www.fortunebusinessinsights.com/precious-metals-market-105747 Segments: Gold Segment to Register Notable Growth Due to Escalating Disposable Income Based on type, the market for precious metals is segmented into silver, gold, and platinum group metals. The gold segment is expected to record commendable expansion over the forecast period. The rise can be attributed to the surging disposable income and escalating knowledge regarding investments among consumers. Based on region, the industry is subdivided into Europe, Asia Pacific, North America, South America, and the Middle East & Africa. Industrial Segment to Record Commendable Surge Impelled by Growing Silver Demand Based on application, the industry for precious metals is fragmented into jewelry, industrial, investments, and others. Of these, the industrial segment is anticipated to depict considerable growth over the estimated period. The expansion can be credited to the surging silver demand from photovoltaic manufacturers. The segmental growth is further being driven by the rising demand for solar panels. Report Coverage: The report provides an in-depth analysis of the major trends that are expected to drive business growth over the forthcoming years. It further gives a comprehensive coverage of the key factors anticipated to impel the industry landscape across various regions. Additional aspects of the report comprise the significant steps taken by leading companies for the consolidation of their market position. Drivers and Restraints: Market Value to Surge Driven by Changing Lifestyle Choices & Surging Disposable Income Precious metals market growth is primarily being impelled by the changing lifestyle choices and surging disposable income. This is further being supplemented by the escalating significance of jewelry in the wedding ceremonies of India, China, and other South Asian countries. Besides, gold is considered as a safe haven for investment. However, the industry growth is likely to be hindered by a range of factors such as government reserves, geopolitical uncertainties, inflation, currency fluctuations, and others. Regional Insights: Asia Pacific to Emerge as Major Region Due to Presence of Electronics & Electrical Industry in the Region Asia Pacific precious metals market share is anticipated to register substantial growth through the forecast period. The surge can be credited to the presence of the largest electronics & electrical industry in the region. Further, India and China are key consumers of gold, which is expected to favor industry expansion to a considerable extent. The North America region is set to record commendable expansion over the estimated period. The rise can be attributed to robust manufacturing capabilities in the U.S. and the presence of precious mineral mines in the region. Competitive Landscape: Market Players Enter Partnership Agreements to Strengthen Industry Presence Leading companies are striking partnership deals and collaborations to strengthen their market presence. Several industry participants are focusing on a range of strategies including mergers, acquisitions, and the launch of new products to secure a competitive edge. Some of the additional initiatives include surging participation in trade fairs and conferences. Key Industry Development: May 2021 – Newmont Corporation acquired GT Gold to strengthen its portfolio. The deal comprised the Tatogga project, which would contribute to the production of gold and copper. List of Key Players Mentioned in the Report: Newmont Corporation (U.S.) Barrick Gold Corporation (Canada) AngloGold Ashanti Limited (South Africa) Kinross Gold Corporation (Canada) Newcrest Mining Limited (Australia) Gold Fields Limited (South Africa) Freeport-McMoRan (U.S.) PJSC Polyus (Russia) Anglo American Platinum Limited (South Africa) Impala Platinum Holdings Limited (South Africa)
    WWW.FORTUNEBUSINESSINSIGHTS.COM
    Precious Metals Market Size, Industry Share, Global Trends, Forecast, 2030
    The global precious metals market is projected to grow from $275.40 billion in 2021 to $403.08 billion in 2028 at a CAGR of 5.6% in forecast period, 2021-2028
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  • The global surface disinfectant market is set to gain impetus from the emergence of COVID-19 pandemic worldwide. It has surged the need for surface disinfectant as people are persistently sanitizing the places and objects that are coming into frequent human contact for reducing the impact of the virus. This information is given by Fortune Business Insights™ in a recent report, titled, “Surface Disinfectant Market Size, Share & Industry Analysis, By Type (Aerosol, Gel, Liquid, and Wipe), By Composition (Alcohols, Chlorine Compounds, Quaternary Ammonium Compounds, Hydrogen Peroxide, Peracetic Acid, and Others), By Application (Residential, Commercial, Health Care Facility, and Others), and Regional Forecast, 2020-2027.” The report further states that the global surface disinfectant market size was USD 770.6 million in 2019 and is projected to reach USD 1,547.7 million by 2027, exhibiting a CAGR of 9.1% during the forecast period.

    Information Source - https://www.fortunebusinessinsights.com/surface-disinfectant-market-103062

    This Report Answers the Following Questions:

    What are the market drivers, hindrances, and dynamics?
    How will the market be affected in the coming years?
    Which strategies are being adopted by prominent companies to intensify competition?
    Which region is expected to lead the market?
    How will the spread of coronavirus infection impact the market?
    Drivers & Restraints-

    Increasing Prevalence of Hospital-Acquired Infections to Propel Growth

    The cases of hospital-acquired infections (HAIs) are expected to surge the demand for surface disinfectant in the near future. These infections mainly occur when the patients are being treated in the hospitals and are not often detected during the admission procedure. The infections associated with the invasive devices and medical equipment consist of ventilator-associated pneumonia, catheter associated infections, and surgical site infection. However, surface disinfectants include a wide range of chemicals, namely, acetic acid, peroxides, and hypochlorite. These are very harmful for the human health, as well as for the environment. These factors are expected to hamper the surface disinfectant market growth in the coming years.

    Segment-

    Residential Segment to Grow Steadily Owing to Awareness About Infections

    In terms of applications, the market is divided into health care facilities, commercial, residential, and others. Out of these, the residential segment held 16.1% surface disinfectant market share in 2019. This growth is attributable to the increasing awareness amongst the populaces about the benefits of using surface disinfectants and the spread of several infections. Additionally, the outbreak of COVID-19 pandemic is rapidly driving the demand for surface disinfectants.

    Regional Analysis-

    Rising Government Laws to Maintain Hygiene will Favor Growth in North America

    In 2019, North America procured USD 299.9 million in terms of revenue. This growth is attributable to the increasing number of stringent laws put forward by the governments for maintaining proper sanitation and hygiene at public places, food establishments, and hospitals. Europe is set to experience significant growth stoked by the rising utilization of surface disinfectants, especially for household applications. Asia Pacific, on the other hand, is anticipated to exhibit the fastest growth fueled by the increasing expenditure of the governments of numerous countries on public health and cleanliness.

    Competitive Landscape-

    Key Companies Focus on Product Launches & Collaborations to Surge Sales

    The market is highly competitive because of the presence of a large number of international and regional companies. Most of them are either following the strategy of joint ventures and partnerships, or are investing huge sums to launch novel surface disinfectants in the market. These steps are helping them to gain a competitive edge. Below are two of the latest industry developments:

    January 2019: Reckitt Benckiser joined hands with Diversey to broaden its presence in North America and to reach out to more hospitals, food joints, and educational institutions.
    November 2018: Diversey Inc. launched its one-step cleaner, ready-to-use deodorizer and disinfectant called SureTouch. It contains hydrogen peroxide and was approved by the Environmental Protection Agency (EPA) for effectively cleaning the facilities.
    Fortune Business Insights™ lists out the names of all the surface disinfectant manufacturers operating in the global market. They are as follows:

    3M (U.S.)
    The Proctor & Gamble Company(U.S.)
    Kimberley-Clark Corporation(U.S.)
    SC Johnson Professional(U.S.)
    The Clorox Company(U.S.)
    Ecolab (U.S.)
    Metrex Research LLC(U.S.)
    Reckitt Benckiser (U.K.)
    Diversey Inc.(U.S.)
    STERIS plc (Ireland)
    Whiteley Corporation (Australia)
    Other Key Players
    The global surface disinfectant market is set to gain impetus from the emergence of COVID-19 pandemic worldwide. It has surged the need for surface disinfectant as people are persistently sanitizing the places and objects that are coming into frequent human contact for reducing the impact of the virus. This information is given by Fortune Business Insights™ in a recent report, titled, “Surface Disinfectant Market Size, Share & Industry Analysis, By Type (Aerosol, Gel, Liquid, and Wipe), By Composition (Alcohols, Chlorine Compounds, Quaternary Ammonium Compounds, Hydrogen Peroxide, Peracetic Acid, and Others), By Application (Residential, Commercial, Health Care Facility, and Others), and Regional Forecast, 2020-2027.” The report further states that the global surface disinfectant market size was USD 770.6 million in 2019 and is projected to reach USD 1,547.7 million by 2027, exhibiting a CAGR of 9.1% during the forecast period. Information Source - https://www.fortunebusinessinsights.com/surface-disinfectant-market-103062 This Report Answers the Following Questions: What are the market drivers, hindrances, and dynamics? How will the market be affected in the coming years? Which strategies are being adopted by prominent companies to intensify competition? Which region is expected to lead the market? How will the spread of coronavirus infection impact the market? Drivers & Restraints- Increasing Prevalence of Hospital-Acquired Infections to Propel Growth The cases of hospital-acquired infections (HAIs) are expected to surge the demand for surface disinfectant in the near future. These infections mainly occur when the patients are being treated in the hospitals and are not often detected during the admission procedure. The infections associated with the invasive devices and medical equipment consist of ventilator-associated pneumonia, catheter associated infections, and surgical site infection. However, surface disinfectants include a wide range of chemicals, namely, acetic acid, peroxides, and hypochlorite. These are very harmful for the human health, as well as for the environment. These factors are expected to hamper the surface disinfectant market growth in the coming years. Segment- Residential Segment to Grow Steadily Owing to Awareness About Infections In terms of applications, the market is divided into health care facilities, commercial, residential, and others. Out of these, the residential segment held 16.1% surface disinfectant market share in 2019. This growth is attributable to the increasing awareness amongst the populaces about the benefits of using surface disinfectants and the spread of several infections. Additionally, the outbreak of COVID-19 pandemic is rapidly driving the demand for surface disinfectants. Regional Analysis- Rising Government Laws to Maintain Hygiene will Favor Growth in North America In 2019, North America procured USD 299.9 million in terms of revenue. This growth is attributable to the increasing number of stringent laws put forward by the governments for maintaining proper sanitation and hygiene at public places, food establishments, and hospitals. Europe is set to experience significant growth stoked by the rising utilization of surface disinfectants, especially for household applications. Asia Pacific, on the other hand, is anticipated to exhibit the fastest growth fueled by the increasing expenditure of the governments of numerous countries on public health and cleanliness. Competitive Landscape- Key Companies Focus on Product Launches & Collaborations to Surge Sales The market is highly competitive because of the presence of a large number of international and regional companies. Most of them are either following the strategy of joint ventures and partnerships, or are investing huge sums to launch novel surface disinfectants in the market. These steps are helping them to gain a competitive edge. Below are two of the latest industry developments: January 2019: Reckitt Benckiser joined hands with Diversey to broaden its presence in North America and to reach out to more hospitals, food joints, and educational institutions. November 2018: Diversey Inc. launched its one-step cleaner, ready-to-use deodorizer and disinfectant called SureTouch. It contains hydrogen peroxide and was approved by the Environmental Protection Agency (EPA) for effectively cleaning the facilities. Fortune Business Insights™ lists out the names of all the surface disinfectant manufacturers operating in the global market. They are as follows: 3M (U.S.) The Proctor & Gamble Company(U.S.) Kimberley-Clark Corporation(U.S.) SC Johnson Professional(U.S.) The Clorox Company(U.S.) Ecolab (U.S.) Metrex Research LLC(U.S.) Reckitt Benckiser (U.K.) Diversey Inc.(U.S.) STERIS plc (Ireland) Whiteley Corporation (Australia) Other Key Players
    WWW.FORTUNEBUSINESSINSIGHTS.COM
    Surface Disinfectant Market Size, Industry Share, Growth Rate, 2032
    The global surface disinfectant market size is projected to reach USD 1,547.7 million by 2027, exhibiting a CAGR of 9.1% during the forecast period
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