Benzalkonium Chloride Market to Reach a Value of $1,301.1 million by 2030

  • Published: January 2021

The surging demand for benzalkonium chloride from the pharmaceutical sector, along with its rising consumption in the oil & gas industry, is the key factor positively impacting the growth of the market for this compound. Owing to these factors, the global benzalkonium chloride market is expected to generate $1,301.1 million revenue in 2030, advancing at a CAGR of 9.6% during the forecast period.

The COVID-19 pandemic has severely impacted almost every sector. On account of the government-imposed lockdowns in various countries, including China, India, the U.S., Italy, Spain, Germany, and the U.K., industrial operations were temporarily halted or reduced in order to curtail the spread of the disease. Nevertheless, the benzalkonium chloride market witnessed growth, on account of the soaring demand for the production of hand sanitizers, wipes, and other disinfectant products.

Disinfectants Category To Retain Its Dominance in Market throughout Forecast Period

On the basis of application, the benzalkonium chloride market is categorized into eye, ear, & nasal drops, hand sanitizers, shampoos, disinfectants, spermicidal creams, water treatment chemicals, aquaculture chemicals, timber protection chemicals, coatings, and others. Among these, the disinfectants category is expected to lead the market during the forecast period. This can be attributed to the ability of the compound to have a broad biocidal activity and remove unwanted bacterial, alae, fungi, and viruses.

Further, on the basis of type, the benzalkonium chloride market is bifurcated into benzalkonium chloride 50% and benzalkonium chloride 80%. Of these, benzalkonium chloride 50% is expected to account for a larger volume share in the coming years. This can be attributed to the less-toxic nature of the compound making it suitable for a wide range of pharmaceutical and personal care applications.

Geographically, the benzalkonium chloride market in Asia-Pacific (APAC) is expected to witness the fastest growth as a consequence of the rapidly growing chemical industry in China and India. Additionally, the surging demand for disinfectant products amidst the COVID-19 pandemic, along with the strategic initiatives by companies in the specialty chemicals industry, is fueling the market growth in the APAC region.

Novo Nordisk Pharmatech A/S To Account for Largest Market Share owing to Its Focus on Application Base Expansion

The global benzalkonium chloride market is consolidated in nature, with a few large-scale players accounting for a significant share. In 2019, Novo Nordisk Pharmatech A/S held the largest market share, which is primarily ascribed to its strong focus on providing the chemical for a wide range of applications and further expanding its clientele.

Neogen Corporation, Ava Chemicals Private Limited, Tokyo Chemical Industry Co. Ltd., Haihang Industry Co. Ltd., Dishman Carbogen Amcis Ltd., Shanghai Bichain Industrial Chemical Co. Ltd., Novo Nordisk Pharmatech A/S, Kao Corporation, Merck KGaA, and KLK OLEO are some of the major players operating in the global benzalkonium chloride market.