Benzalkonium chloride Market Size Overview:
The Global Benzalkonium chloride Market Size is projected to be valued at over USD 1 Billion by the end of 2024 at a CAGR of over 8% during the forecast period. Benzalkonium chloride is one of the quaternary ammonium biocides, recognized for its dual biocidal and detergency properties. The increasing demand for the product as a biocide in the pharmaceuticals, food & beverage, chemicals, and oil & gas industries is expected to be the key factor driving the market growth during the forecast period. The growing popularity of the product in the oil & gas industry for enhanced oil recovery is likely to provide lucrative opportunities to the players operating the global market during the review period.
Kao Corporation (Japan), Novo Nordisk A/S (Denmark), Stepan Company (US), Iwaki Seiyaku Co.,Ltd (Japan), Bramchem Ltd (UK), Shanghai Bichain Industrial Chemical Co., Ltd (China), MP Biomedicals (US), Quat-Chem Ltd (UK), Innova Corporate (India) Haihang Group (China), Dishman Group (India), TCI Chemicals (India) Pvt. Ltd (India), SAJMIL CHEMICALS (US), and ALPHA CHEMICALS PVT. LTD (India) are some of the key players in the global Benzalkonium chloride Market Size.
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The global Benzalkonium chloride Market Size has been segmented on the basis of purity/concentration, function, application, end-use industry, and region.
By purity/concentration, the global Benzalkonium chloride Market Size has been categorized into 50%, 80%, and others. The 80% segment was the leading segment in 2018 owing to its widespread use in the major end-use industries, including food & beverage, pharmaceutical, chemicals, and oil & gas. In addition, the increasing use of 80% purity benzalkonium chloride in the water treatment industry is also expected to favor the growth of the segment.
Based on function, the global Benzalkonium chloride Market Size has been divided into biocide, cationic surfactant, preservative, and phase transfer agent. Its major applications as a biocide are in the pharmaceutical and food & beverage industries. With the need to ensure food safety, the use of biocides in the food industry has increased, and chemical-based disinfectants to control the microbial ecology of the production environment. This is expected to propel the growth of the segment during the forecast period.
By application, the global Benzalkonium chloride Market Size has been classified into corrosion inhibition, pharmaceutical formulations, enhanced oil extraction, formulation of cleaner-sanitizers, water treatment, timber protection, and others. The formulation of cleaner-sanitizers segment held the major share of the global market, with major applications in the home care products, pharmaceutical cleansers, food & beverages, disinfectants, and cleansers.
Based on end-use industry, the global Benzalkonium chloride Market Size has been segmented into pharmaceuticals, oil & gas, personal care & cosmetics, chemicals, pulp & paper, food & beverage, textile, plastics & polymer, and others. The food & beverage industry held the largest share of the market in 2018 and is projected to register healthy growth during the forecast period. The oil & gas segment is expected to exhibit the highest CAGR during the forecast period, owing to the rising demand for the product in the oil & gas industry for EOR.
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