Market Synopsis:
Benzalkonium chloride, also known as BKC, is used as a biocide and cationic surfactant in end-user industries. Market Research Future (MRFR) has presented a report that reveals that the global benzalkonium chloride market, valued at USD 650 Mn in 2018, is expected to register a CAGR of 8% across the evaluation period 2019 to 2024.
The product is extensively used as a biocide in the pharmaceutical industry. The growth of the pharmaceutical industry is expected to lead the growth of the benzalkonium chloride market over the next couple of years. It has also found applications in industries such as oil & gas, food & beverage, etc. These industries are core to the development of a nation’s economy. So, it is anticipated to act as a growth catalyst for the players of the benzalkonium chloride market over the assessment period.
BKC is extensively used in the production of surfactants, disinfectants, sanitizers, and other hygiene products. Implementation of stricter regulations for maintaining the level of cleanliness, coupled with rising awareness about hygiene, is expected to propel market expansion in the years to come.
BKC has penetrated the chemical industry as emulsifier & de-emulsifier, precipitant, and phase transfer catalyst. This is projected to catapult the benzalkonium chloride market on upward trajectory. However, on the other hand, factors such as the health hazards associated with the product are likely to challenge the market players in the nearby future.
Market Segmentation:
On the basis of purity/concentration, the global benzalkonium chloride market has been segmented into 50%, 80%, and others.
On the basis of function, the benzalkonium chloride market has been segmented into cationic surfactant, preservative, biocide, and phase transfer agent.
On the basis of application, the global benzalkonium chloride market is segmented into pharmaceutical formulations, corrosion inhibition, enhanced oil extraction, water treatment, formulation of cleaner-sanitizers, timber protection, and others.
On the basis of end-use industry, the benzalkonium chloride market has been segmented into oil & gas, pharmaceuticals, personal care & cosmetics, pulp & paper, chemicals, textile, plastics & polymer, food & beverage, and others.
Regional Analysis:
The regional assessment of the global benzalkonium chloride share spans across Asia Pacific (APAC), North America, Latin America, Europe, and the Middle East & Africa (MEA). North America is anticipated to hold the maximum market share owing to the growth of the oil & gas and pharmaceutical industries. The rising exploration activities in the oil & gas industry, in conjunction with the rising investments in research & development in the pharmaceutical industry, is expected to propel the expansion of benzalkonium chloride market in the region over the assessment period.
Europe is poised to witness moderate growth across the projection period. Germany and Russia are likely to contribute most substantially to the expansion of the regional market in the forthcoming years. Asia Pacific, however, is prognosticated to register a relatively higher CAGR across the forecast period. Rising applications in the food & beverage industry and pharmaceutical industry is set to drive market growth over the next few years in the region.
Competitive Dashboard:
Novo Nordisk A/S (Denmark), Stepan Company (US), Kao Corporation (Japan), MP Biomedicals (US), Shanghai Bichain Industrial Chemical Co., Ltd (China), SAJMIL CHEMICALS (US), Iwaki Seiyaku Co.,Ltd (Japan), Quat-Chem Ltd (UK), Dishman Group (India), Bramchem Ltd (UK), Haihang Group (China), ALPHA CHEMICALS PVT. LTD (India), TCI Chemicals (India) Pvt. Ltd (India), and Innova Corporate (India) are the top-notch players of the global benzalkonium chloride market assessed in this MRFR report. The key strategies developed by these players for strengthening their footholds in the market are mergers & acquisitions, partnerships, collaborations, regional expansion, increase in production capacity, etc. Also, rising investments in facility expansion are anticipated to boost the competition in the benzalkonium chloride market over the next couple of years.
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end-users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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