05-Jan-2021 | Zion Market Research
Based on the anticipations set by Zion Market Research (ZMR), the global benzalkonium chloride market capitalization has reached around USD 600 million in 2019. Now, the analysts are expecting that the global market value would spur at a considerable CAGR of around 9.2% and probably hold the value of about USD 1.18 billion by the end of 2025. The global benzalkonium chloride market report covers various dominating contenders operating the market. A few of the renowned companies are Jinshan Jingwei Chemical, Novo Nordisk, Dishman Group, and Merck Millipore. The participants are dedicated to attaining a significant position in the market at the global level for which they are employing multiple strategies such as product portfolio expansion, collaborations, and mergers to enhance their production capabilities.
The global benzalkonium chloride market is following the accelerating growth trend owing to the changing lifestyles, growing revenues from disposable businesses, and increasing demands for skincare creams & lotions. Skincare products are being used extensively due to the harsh climatic conditions and unpleasant environment. Benzalkonium chloride is an important ingredient in shampoos, skin cleansers, eye makeup, and personal cleanliness items. The immense growth potential of the global benzalkonium chloride market is indicated by comparing the market value. In 2018, the market was valued at around USD 225 million.
Increased Demand For Cosmetics Products Likely To Impel The Global Benzalkonium Chloride Market
The globally established oil & gas, microelectronics, and mining industries are expected to impel the wastewater treatment market and fuel the demand for benzalkonium chloride, as the ingredient is used as a disinfectant and cationic surfactant. Benzalkonium chloride helps in extracting out halides, sulfates, clays, sediments, oxides, and other such anions present in sewage water. The quality of freshwater is deteriorating at a significant rate owing to the growing population, widespread industrialization, and massive use of chemical pesticides. Therefore, the need for wastewater treatment increases significantly, which eventually boosts product demand. On the other hand, the use of benzalkonium chloride-containing skincare products may cause eye corrosion and skin itching in rare cases, which hampers the market growth considerably.
The global benzalkonium chloride market report published by ZMR illustrates a full-fledged analysis of the market by segmenting it on the basis of type, end-user, application, and geography. The product manufactured by the benzalkonium chloride manufacturers is of two types; benzalkonium chloride 50% and benzalkonium chloride 80%. Based on end-user, the report categorizes the market into cosmetics & pharmaceuticals, oil &gas, aquaculture, chemical, pulp & paper, timber protection, leather, and textile. Based on applications, the market is divided into disinfectants, biocide, and oil & gas.
North America Regional Market To Grow Swiftly Owing To Well-Established Oil & Gas Sector
North America has captured the dominating position in the list of regional benzalkonium chloride market. It is been expected that the market value in the region would surpass around USD 285 million by 2025, owing to the presence of giant oil field equipment manufacturers in the US & Canada. Apart from this, the Mexican refineries are also planning for plant renovation. The product demand is going to boost with the expansion of existing & establishment of new oil & gas industries, as it is an important ingredient preventing the formation of hazardous gas released due to microbial growth.
Browse the full “Benzalkonium Chloride Market By Type (Benzalkonium Chloride 80%, And Benzalkonium Chloride 50%), By Application (Biocide [Water Treatment Chemicals, Disinfectants, Preservative, And Other Applications], Phase Transfer Catalyst, And Others), By End User (Food & Beverages, Cosmetics, Polymers & Coatings, Pharmaceuticals, Chemical Industry, Pulp & Paper, Leather & Textile, Oil & Gas, And Others), And By Region: Global Industry Perspective, Comprehensive Analysis And Forecast, 2020 - 2026.” Report at https://www.zionmarketresearch.com/report/benzalkonium-chloride-market
The ZMR-published market research report segments the global benzalkonium chloride market as follows:
By End-User Industry
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