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North America Benzalkonium Chloride Market Revenue to Reach $275 Mn by 2026
Published Date: 2020-12-04
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According to the Graphical Research new growth forecast report titled “North America Benzalkonium Chloride Market Size By Type (Benzalkonium Chloride 80%, Benzalkonium Chloride 50%), By Application (Biocide [Water Treatment Chemical, Disinfectant, Preservative], Phase Transfer Catalyst), By End-Use (Food & Beverage, Cosmetics, Polymers & Coatings, Pharmaceuticals, Chemical Industry, Pulp & Paper, Leather & Textile, Oil & Gas)”, Estimated to Exceed USD 275 Million by 2026.
Growing demand from the oil and gas industry for the oil extraction process is one of the key factors responsible for market growth. Benzalkonium Chloride is widely used for the extraction of shale oil and gas in the North American region as it acts as an emulsifier which stabilizes the liquid and gases. Furthermore, the rising demand for personal care and hygiene products is another factor augmenting market growth.
Revenue from polymer and coating was over USD 15 million in 2019 which shows a growth opportunity in the upcoming years. Growing construction projects and chemical-based industries are augmenting the North America benzalkonium chloride market. Benzalkonium chloride has widespread applications in the surface coating owing to its high antimicrobial property which protects from the microbes and provides safety.
The phase transfer catalyst segment from the application registered a CAGR of around 8% during the forecast timeframe. Owing to the widespread application in green chemistry, it increases the rate of a reaction and enhances selectivity. Also, it improves the process of reliability and flexibility of the reactions. Increasing demand for bulk chemicals, agrochemicals, polymers, fertilizers, and petrochemical, across the globe. Thus, the expansion of the chemical industry is fostering the demand for North America benzalkonium chloride market.
It is used in regular household cleaning and disinfecting products effectively eliminates the virus from surfaces. Extreme use of cleaning agents and disinfectants in hospitals, schools, offices, commercial buildings, and households’ responsible factor for stimulating the market growth in the forecast period.
Pharmaceuticals sector from application accounted for a significant share in the North America Benzalkonium Chloride market. Ammonium quaternary salt is used as an antiseptic, disinfectant solubilizing agent, in various pharmaceuticals products such as drugs, tablets, soaps, cleanses, floor cleaners, and many more to protect against fungal infection. caused by fungi, viruses, and Bacteria. Also, it is used as a preservative and emulsifier in coating and paint, textile, wood treatment, electronics, and industrial sectors which may lead the market in the forest timespan.
shifting consumer preference and consumption towards hand sanitizers, personal hygiene products, shampoos, cleansers, and other products leading to an increase in the demand for benzalkonium chloride. North America, driven by the US, Canada, and Mexico the market size was valued at above USD 130 million in 2019, in terms of revenue., and the industry is expected to witness substantial gains during the forecast period.
The rise in infrastructural construction projects along with rapid industrialization in the Canada and US will foster market growth. Additionally, Benzalkonium Chloride used for enhanced oil extraction in the oil and gas industry, through the emulsification process is one of the key factors, which is likely to boost the market demand.
Major players of North America Benzalkonium Chloride Market Novo Nordisk, Dishman Group, Jinshan Jingwei Chemical, Merck, Millipore, Stepan Company, Quat-Chem, Iwaki Seiyaku, Zhengzhou Meiya Chemical Products, AVA chemicals, Unilab Chemicals, Manav Aktteva Biopharma LLP, and Haihang Industry Co. Ltd.