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The global benzalkonium chloride market stood at $525.0 million in 2019, and it is expected to demonstrate a CAGR of 9.6% during 2020–2030 (forecast period). The key growth factor for the benzalkonium chloride industry is the rapid expansion of the pharmaceutical and oil & gas sectors, which is leading to a high-volume demand for the compound.
The COVID-19 pandemic has spread at an alarming pace, infecting millions across the world and bringing economic activity to a near standstill, as countries imposed tight restrictions on the movement of people and goods to curtail the spread of the virus. However, the market for the compound was not significantly affected owing to its usage as a disinfectant in hand sanitizers and wipes. The soaring demand for these products is due to their ability to work against viruses, by stripping them of their lipid envelope and leaving them unable to penetrate human cells.
Benzalkonium chloride 50% is projected to showcase the higher volume CAGR during the forecast period, on the basis of type. This can primarily be attributed to the extensive usage of the compound in pharmaceutical and cosmetic products due to its relatively less-toxic nature. AS a result, with the rising production of pharmaceutical drugs and cosmetic products, the consumption of the compound is projected to rapidly increase in the coming years, in turn, promoting the growth of the benzalkonium chloride market.
The disinfectants category, based on application, accounted for the largest benzalkonium chloride market size in 2019, and it is projected to retain its dominance throughout the forecast period. This can be attributed to the increasing prevalence of hospital-acquired infections, along with the presence of strict regulations concerning the usage of surface disinfectants in diagnostic laboratories, hospitals, research laboratories, and pharmaceutical & biotechnology labs. Additionally, the ongoing COVID-19 pandemic has further augmented the demand for the compound for the manufacturing of disinfectants.
During the forecast period, the household & horticulture classification is expected to hold the largest share in the end-use industry segment. This is attributed to the rising demand for cleaning and sanitizing products for domestic applications, for general health and wellbeing. Additionally, the increasing consumer spending on hygiene and sanitization products during the COVID-19 crisis is expected to propel the consumption of the compound in household products and horticulture applications.
During the historical period (2014–2019), North America held the largest benzalkonium chloride market share due to the rising opportunities for U.S. and Canadian oilfield equipment manufacturers in the region. With the increase in exploration & production activities in the region, driven by the rising investments in the oil & gas sector, the region is expected to witness a high-volume demand for benzalkonium chloride and continue the trend of dominating the global industry during the forecast period.
One of the major factors driving the market growth in the region is the rapid development in the chemical industry, as APAC has emerged as a hub for chemical manufacturers and exporters in recent years. This has attracted several leading companies to make huge investments in the regional chemical industry and set up their own sites here, to increase their presence in emerging economies, such as India, Vietnam, and Malaysia. For instance, Reckitt Benckiser, the manufacturer of the Dettol disinfectant, announced, in April 2020, plans to establish a manufacturing facility for Dettol in Taicang, Jiangsu province, China.
Moreover, owing to its large chemical manufacturing base, the region is witnessing a huge impact of industrial pollutants on waterbodies. This has further propelled the demand for benzalkonium-chloride-based formulations in water & effluent treatment and as algaecides for water bodies.
Pharmaceutical Sector is one of the fastest-growing industries in the world, which is a major consumer of the compound. The compound is widely used in the pharmaceutical sector owing to its ability to serve as an antimicrobial preservative, antiseptic, disinfectant, solubilizing agent, and wetting agent. Hence, with the rise in the income of people, affordability of healthcare services, and increasing investments by governments in the pharmaceutical sector, the global benzalkonium chloride market is likely to benefit during the forecast period.
As per the International Association of Oil & Gas Producers (IOGP), there has been a continuous rise in the demand for oil and gas across the world in the past decade. According to the U.S. Energy Information Administration (EIA), the global consumption of petroleum and other associated liquids was 101.2 million barrels per day in 2019, as compared to 100.4 million barrels per day in 2018. Hence, the rising demand for oil and gas has propelled their production, which has driven the sales of the chemical, which is used as a biocorrosion inhibitor in this sector.
Additionally, the ability of the compound to retain its properties from highly acid to highly alkaline applications in the oil & gas industry further propels its usage, in turn, boosting the global benzalkonium chloride market.
|Base Year (2019) Market Size||$525.0 million|
|Forecast Period (2020-2030) CAGR||9.6%|
|Report Coverage||Market dynamics, revenue estimation and forecast, segmentation analysis, value chain analysis, production process analysis, Porter’s five forces analysis, regional and country breakdown, company share analysis, company profiling|
|Market Size by Segments||Type, application, end-use industry, region|
|Market Size of Geographies||U.S., Canada, Germany, U.K., France, Italy, Spain, China, Japan, India, Mexico, Brazil, South Africa, Saudi Arabia|
|Secondary Sources and References (Partial List)||Active Pharmaceutical Ingredient Manufacturers' Association of Australia, Active Pharmaceutical Ingredients Committee, American Association of Poison Control Centers, Association for Professionals in Infection Control and Epidemiology, Brazilian Pharma Chemicals Manufacturers Association, Bulk Drug Manufacturers Association, Commonwealth Pharmacist Association, Cosmetic Trade and Professional Associations, European Bioinformatics Institute, World Health Organization|
The benzalkonium chloride market is consolidated in nature, with the presence of a few major players, such as Novo Nordisk Pharmatech A/S, Dishman Group, KLK Oleo, and Merck KGaA. Of these, Novo Nordisk Pharmatech A/S is leading the market on account of its strong focus on expanding its market coverage. It currently offers the chemical compound for usage as an active pharmaceutical ingredient and preservative in nasal, oral, and topical drugs, creams, ointments; ophthalmic, wound care, and personal care products, contraceptive formulations, veterinary products, and antiseptic agents. In order to increase its market share, the company will likely make heavy investments in research & development, in order to tap new markets.
The Benzalkonium Chloride Market report offers comprehensive market segmentation analysis along with market estimation for the period 2014-2030.
Based on Type
Based on Application
In 2019, the benzalkonium chloride market valued $525.0 million.
Disinfectants are the largest application in the benzalkonium chloride industry.
Players in the benzalkonium chloride market have the most lucrative opportunity in APAC.
The benzalkonium chloride industry growth is driven by the increasing demand for the compound in the oil & gas and pharmaceutical sectors.
The presence of few large-scale players makes the benzalkonium chloride market consolidated.