Analysts at the Freedonia Group recently published their analysis of the global industrial and institutional disinfectant and sanitizer market, looking to address these questions:
- What will consumption of disinfectants and sanitizers in industrial and institutional applications be in 2020?
- How will usage vary by market and region?
- How will usage rates evolve over time and impact demand by 2024?
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While images of empty shelves that were once full of disinfectants and sanitizers have abounded in recent months, as have stories of distilleries turning liquor into hand sanitizers, much of this has been driven by a spike in consumer demand.
But how is industrial and institutional use of these products shaking out?
Certainly the stores and facilities that are open will increase usage rates as they try to assure both customers and employees that they are providing a safe environment to be in.
Widespread social distancing efforts, shelter-in-place orders, and closures of non-essential businesses are taking an economic toll, though, and this will have a restraining impact on demand.
At this point, sales of industrial and institutional disinfectants and sanitizers are forecast to show a small decline in 2020. A jump in demand in the healthcare market will be offset by a drop in foodservice, as well as other areas where declining economic activity offsets increased usage rates.