NEWARK, Del, April 01, 2024 (GLOBE NEWSWIRE) -- The benzalkonium chloride market is set to experience substantial growth, with a valuation of US$ 1,856.2 million in 2024. It is projected to reach US$ 2,267.3 million by 2034, reflecting a CAGR of 2.00% during the forecast period.
This growth is primarily attributed to the increasing use of benzalkonium chloride in the pharmaceutical, personal care, and cosmetics sectors, driven by its antimicrobial properties. The demand for benzalkonium chloride in products such as shampoos, conditioners, and skin cleansers has been on the rise, aligning with the growing awareness of hygiene and sanitation, particularly among millennials.
Growing adoption of benzalkonium chloride as a biocide in water treatment applications, especially in municipal and industrial water treatment plants, has significantly contributed to its market expansion. This widespread application is further augmented by the shift towards eco-friendly and sustainable formulations, leading to the development of benzalkonium chloride-based green disinfectants and sanitizers.
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Rapid industrialization and urbanization in regions such as Asia-Pacific and Latin America have presented emerging market opportunities, contributing to the overall growth of benzalkonium chloride across different sectors.
The market also faces certain challenges, including concerns about the potential health and environmental impacts of benzalkonium chloride, price volatility of raw materials, and rising competition from substitute products and technologies offering similar or enhanced performance in terms of antimicrobial properties. Additionally, there are growing concerns about microbial resistance to benzalkonium chloride, prompting research and development efforts to find novel solutions and alternatives.
“Development of new applications in healthcare and pharmaceutical industries, as well as the increasing demand for preservatives in personal care products,” comments Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.)
Key Takeaways from the Market Study
- The benzalkonium chloride market in the United States is estimated to rise by 14.10% CAGR through 2034.
- The benzalkonium chloride industry in China is anticipated to develop at a CAGR of 12.60% through 2034.
- The benzalkonium chloride industry in Germany has the potential to increase 11.30% CAGR through 2034.
- The benzalkonium chloride industry in Japan is projected to inflate at a CAGR of 5.00% through 2034.
- The benzalkonium chloride market in Australia and New Zealand is predicted to rise by a remarkable 2.60% CAGR through 2034.
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Competitive Landscape
Some of the globally renowned companies producing benzalkonium chloride include Dishman Group, Novo Nordisk, and Merck & Co. These companies are focusing on expanding their market presence by investing in research and development to create new and improved applications for benzalkonium chloride in various industries.
Recent Developments:
- In March 2024, Novo Nordisk's Pharmatech unit and Actylis partnered to supply benzalkonium chloride to several European countries.
- Actylis and Novo Nordisk Pharmatech formed a strategic partnership to distribute pharmaceutical-grade Benzalkonium Chloride in select European countries, enhancing service and quality for pharmaceutical and medical device markets.
- In September 2020, Bluemink Innovations developed a fully automated hydraulic disinfectant chamber utilizing Benzalkonium Chloride solution to disinfect health workers in PPE within 10 seconds, addressing the need for efficient COVID-19 safety measures.
Key Companies in the Market
- Kao Corporation
- Quat-chem
- Novo Nordisk pharma tech
- Stepan
- Aarti Industries Ltd
- Boke Water treatment
- Delta Chemsol
- Dishman Group
- Merck & Co.
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Market Segmentation
By End Use Application:
- Feed Grade
- Food Grade
- Cosmetic Grade
- Pharma Grade
- Industrial Grade
By Form:
- Powder
- Liquid
By Region:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa (MEA)
- Europe
About the Chemicals and Materials Domain at Future Market Insights
The chemicals and materials domain at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 billion+ data points, the team has been analyzing the market lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.
Authored by:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
Explore FMI's Extensive Coverage in the Chemical and Materials Domain:
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