Due to the increasing prevalence of acute and chronic diseases, growing geriatric population, and rising disposable income in emerging economies, the worldwide healthcare industry is expanding rapidly. This is expected to be the key factor to take the global benzalkonium chloride market to $1,301.1 million by 2030 from $525.0 million in 2019, at a 9.6% CAGR between 2020 and 2030.
This is because the compound is widely used as an antiseptic, antimicrobial preservative, solubilizing agent, disinfectant, and wetting agent in contact lens solutions. In addition, the benzalkonium chloride market is growing on account of the usage of this compound as an antimicrobial preservative in aqueous multidose nose, eye, and ear products.
The nationwide lockdowns implemented during the COVID-19 pandemic didn’t affect the benzalkonium chloride market much because the compound is widely used in manufacturing wipes, hand sanitizers, and other products used for disinfection. Benzalkonium chloride destroys the lipid (fat) envelop of viruses, thus rendering them unable to get through to human cells. Therefore, with the burgeoning demand for such disinfectant products, the consumption of this compound has risen too.
In the coming years, the highest value CAGR in the benzalkonium chloride market, of 10.0%, on the basis of application, will be witnessed by the disinfectants category. There are stringent regulations requiring hospitals and diagnostic, research, biotechnology and pharmaceutical laboratories to be disinfected on a regular basis. Another factor driving the demand for disinfectants and, in turn, benzalkonium chloride, is the increasing incidence of hospital-acquired infections (HAI).
The horticulture & household category is predicted to continue to dominate the benzalkonium chloride market throughout this decade, based on end-use industry. With the increasing awareness about hygiene and personal wellbeing, the demand for disinfectants and sanitizers is rising, thereby propelling the requirement for benzalkonium chloride. The COVID-19 pandemic has given a further push to the production of hand sanitizers and similar products, in turn, driving the market.
Till now, the North American benzalkonium chloride market has generated the highest revenue for companies offering this compound. With the growth in oil and gas exploration and production activities in Canada and the U.S., the usage of the compound as an inhibiter of the corrosion caused on underwater steel equipment by sulphate-reducing bacteria is rising. Another application of the compound in this sector is controlling the release of hydrogen sulphide gas, which results in oil souring.
Asia-Pacific (APAC) will witness the fastest advance in the benzalkonium chloride market in the years to come. Due to cost-effective labor and raw materials and less-stringent environmental regulations, China, India, Vietnam, and Malaysia are attracting chemical manufacturers from Europe and North America. Moreover, the already-large chemical sector of APAC is resulting in water pollution, which is propelling the demand for benzalkonium chloride for wastewater and effluent treatment.
Major players in the global benzalkonium chloride market are Dishman Carbogen Amcis Ltd., Ava Chemicals Private Limited, Shanghai Bichain Industrial Chemical Co. Ltd., Neogen Corporation, Haihang Industry Co. Ltd., Tokyo Chemical Industry Co. Ltd., Hefei TNJ Chemical Industry Co. Ltd., Merck KGaA, Novo Nordisk A/S, KLK OLEO, and Kao Corporation.
This is because the compound is widely used as an antiseptic, antimicrobial preservative, solubilizing agent, disinfectant, and wetting agent in contact lens solutions. In addition, the benzalkonium chloride market is growing on account of the usage of this compound as an antimicrobial preservative in aqueous multidose nose, eye, and ear products.
The nationwide lockdowns implemented during the COVID-19 pandemic didn’t affect the benzalkonium chloride market much because the compound is widely used in manufacturing wipes, hand sanitizers, and other products used for disinfection. Benzalkonium chloride destroys the lipid (fat) envelop of viruses, thus rendering them unable to get through to human cells. Therefore, with the burgeoning demand for such disinfectant products, the consumption of this compound has risen too.
Benzalkonium Chloride Market Segmentation Analysis
The benzalkonium chloride 50% bifurcation, under the type segment of the benzalkonium chloride market, held the larger share in the past. The compound in this particular concentration witnesses high-volume consumption in cosmetic and pharmaceutical products, as it is less toxic.In the coming years, the highest value CAGR in the benzalkonium chloride market, of 10.0%, on the basis of application, will be witnessed by the disinfectants category. There are stringent regulations requiring hospitals and diagnostic, research, biotechnology and pharmaceutical laboratories to be disinfected on a regular basis. Another factor driving the demand for disinfectants and, in turn, benzalkonium chloride, is the increasing incidence of hospital-acquired infections (HAI).
The horticulture & household category is predicted to continue to dominate the benzalkonium chloride market throughout this decade, based on end-use industry. With the increasing awareness about hygiene and personal wellbeing, the demand for disinfectants and sanitizers is rising, thereby propelling the requirement for benzalkonium chloride. The COVID-19 pandemic has given a further push to the production of hand sanitizers and similar products, in turn, driving the market.
Till now, the North American benzalkonium chloride market has generated the highest revenue for companies offering this compound. With the growth in oil and gas exploration and production activities in Canada and the U.S., the usage of the compound as an inhibiter of the corrosion caused on underwater steel equipment by sulphate-reducing bacteria is rising. Another application of the compound in this sector is controlling the release of hydrogen sulphide gas, which results in oil souring.
Asia-Pacific (APAC) will witness the fastest advance in the benzalkonium chloride market in the years to come. Due to cost-effective labor and raw materials and less-stringent environmental regulations, China, India, Vietnam, and Malaysia are attracting chemical manufacturers from Europe and North America. Moreover, the already-large chemical sector of APAC is resulting in water pollution, which is propelling the demand for benzalkonium chloride for wastewater and effluent treatment.
Major players in the global benzalkonium chloride market are Dishman Carbogen Amcis Ltd., Ava Chemicals Private Limited, Shanghai Bichain Industrial Chemical Co. Ltd., Neogen Corporation, Haihang Industry Co. Ltd., Tokyo Chemical Industry Co. Ltd., Hefei TNJ Chemical Industry Co. Ltd., Merck KGaA, Novo Nordisk A/S, KLK OLEO, and Kao Corporation.
Frequently Asked Questions about the Benzalkonium Chloride Market
What is the estimated value of the Benzalkonium Chloride Market?
What is the growth rate of the Benzalkonium Chloride Market?
What is the forecasted size of the Benzalkonium Chloride Market?
Who are the key companies in the Benzalkonium Chloride Market?
Report Attribute | Details |
---|---|
Published | January 2021 |
Forecast Period | 2019 - 2030 |
Estimated Market Value ( USD | $ 525 Million |
Forecasted Market Value ( USD | $ 1301.1 Million |
Compound Annual Growth Rate | 9.6% |
Regions Covered | Global |
No. of Companies Mentioned | 11 |
Table of Contents
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Industry Outlook
Chapter 5. Global Market Size and Forecast
Chapter 6. North America Market Size and Forecast
Chapter 7. Europe Market Size and Forecast
Chapter 8. APAC Market Size and Forecast
Chapter 9. LATAM Market Size and Forecast
Chapter 10. MEA Market Size and Forecast
Chapter 11. Major Markets
Chapter 12. Competitive Landscape
Chapter 13. Company Profiles
Chapter 14. Appendix
LIST OF TABLES
LIST OF FIGURES
Companies Mentioned
- Ava Chemicals Private Limited
- Dishman Carbogen Amcis Ltd.
- Neogen Corporation
- Shanghai Bichain Industrial Chemical Co. Ltd.
- Tokyo Chemical Industry Co. Ltd.
- Haihang Industry Co. Ltd.
- Merck KGaA
- Hefei TNJ Chemical Industry Co. Ltd.
- Novo Nordisk A/S
- KLK OLEO
- Kao Corporation
Methodology
LOADING...