April 02, 2020
As per the report titled ‘Benzalkonium Chloride Market Size By Type, By Application, By End-Use, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2025’, available with Market Study Report LLC, the global benzalkonium chloride market is projected to exceed USD 1.05 billion by the year 2025.
Increasing usage of product as a surface disinfectant and as an antibacterial agent in cosmetics and pharmaceuticals is driving the growth of benzalkonium chloride market. In comparison with its counterparts, benzalkonium chloride is highly biodegradable. This factor coupled with its ability to combat against viruses, algae, fungi, and bacteria is enhancing the product demand.
Based on the type, benzalkonium chloride 80% segment was worth USD 450 million in 2018 and is expected to grow substantially during the analysis period. The product is widely used for protection of emulsion paints, pulp & paper, coatings, and leather. It offers high homogeneity in water and prevents microbial growth, hence is extensively used in fungicidal cleansing and as a sterilant.
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Speaking of the application spectrum, benzalkonium chloride as water treatment chemical is expected to show decent growth in the coming future, owing to its strong algacidal properties which ensure efficient cleansing. Increasing product demand from the aquaculture industry for reducing sludge, algae, odor, and bacterial infections in shrimp will foster the segment growth in the years to come.
As per the regional analysis, U.S. benzalkonium chloride 50% market is projected to grow by 5.5% over the forecast timeline. The growth can be credited to increasing adoption of product as an oilfield chemical owing to its ability to negate the growth of sulfate reducing microbes.
Prominent players of benzalkonium chloride market include Merck Millipore, Quat-Chem, Stepan Company, Iwaki Seiyaku, Novo Nordisk, Kao Chemicals, Zhengzhou Meiya Chemical Products, TNJ Chemicals, Haihang Industry Co. Ltd., Dishman Group, Unilab Chemicals, Jinshan Jingwei Chemical/Taiko Palm-Oleo, Shadong Taihe, and Manav Aktteva Biopharma LLP.
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