Benzalkonium Chloride Market To Display 9.6% CAGR during 2020–2030

1. Benzalkonium Chloride Market: Size, Share, Growth, Development and Demand Forecast to 2030 1 © Prescient & Strategic Intelligence Private Limited. All rights reserved

2. Robust growth in the oil & gas and pharmaceutical industries will drive the benzalkonium chloride market at a CAGR of 9.6% during the forecast period (2020–2030). The market was valued at $525.0 million in 2019 and it is projected to reach $1,301.1 million by 2030. The pharmaceutical sector consumes high volume of benzalkonium chloride, as it serves as an antiseptic, antimicrobial preservative, wetting agent, solubilizing agent, and disinfectant. Moreover, affordability of healthcare services, hefty investments by governments in the sector, and rise in disposable income boost the demand for benzalkonium chloride. Key factor driving the benzalkonium chloride market is the growth in the oil & gas industry. According to the Association of Oil & Gas Producers (IOGP), the global demand for oil and gas significantly increased in the past decade. Further, the U.S. Energy Information Administration (EIA) stated that the global consumption of petroleum and related liquids stood at 101.2 million barrels per day in 2019. Hence, the escalating consumption of oil and gas has fueled their production, which has accelerated the sales of benzalkonium chloride, as it is used as a biocorrosion inhibitor. To receive free sample pages of this report@ https://www.psmarketresearch.com/market-analysis/benzalkonium- chloride-market/report-sample Categories under the application segment of the benzalkonium chloride market include eye, ear, and nasal drops, shampoos, spermicidal creams, disinfectants, hand sanitizers, coatings, timber protection chemicals, water treatment chemicals, and aquaculture chemicals. Amongst these, the disinfectants category held the largest market share in 2019 and it is expected to retain its position during the forecast period. This can be ascribed to the rising incidence of hospital-acquired infections (HAIs) and the implementation of stringent regulations regarding the utilization of surface disinfectants in pharmaceutical and biotechnology labs, hospitals, diagnostic labs, and research labs. North America generated the highest revenue in the benzalkonium chloride market in 2019, owing to the booming opportunities for oilfield equipment manufacturers in the region. The region is also expected to lead the market during the forecast period, due to the rise in exploration and production (E&P) activities and the increase in investments in the oil & gas industry. Moreover, the U.S. is expected to be the leading consumer of this chemical in North America in the coming years. Whereas, Asia-Pacific (APAC) will demonstrate the fastest growth in the forecast period. This growth will be primarily supported by rapid development of the chemical industry in APAC countries. In recent years, the region has emerged as a hub for chemical exporters that have attracted major chemical companies to 2 © Prescient & Strategic Intelligence Private Limited. All rights reserved

3. invest heavy amounts in the industry, especially in Malaysia, India, and Vietnam. For example, in April 2020, the manufacturer of the Dettol disinfectant— Reckitt Benckiser announced its plan to set up a production unit for Dettol in Taicang, Jiangsu province, China. Inquire before purchase@ https://www.psmarketresearch.com/send- enquiry?enquiry-url=benzalkonium-chloride-market Presently, the benzalkonium chloride market is consolidated in nature, with the presence of a handful of key players like Novo Nordisk Pharmatech A/S, Dishman Group, Merck KGaA, and KLK Oleo. The market is led by Novo Nordisk Pharmatech A/S, due to its rising focus on tapping new applications. The company offers benzalkonium chloride to be used as a preservative and active pharmaceutical ingredient in creams, ointments, antiseptic agents, personal care products, wound care products, ophthalmic products, and oral, topical, and nasal drugs. Thus, the disinfectant and preservative properties of benzalkonium chloride will fuel its demand from the pharmaceutical and oil & gas sectors in the forecast period. The research offers market size of the Global Benzalkonium Chloride Market for the period 2014–2030. Market Segmentation by Type Benzalkonium Chloride 50% Benzalkonium Chloride 80% Market Segmentation by Application Eye, Ear, & Nasal Drops Hand Sanitizers Shampoos Disinfectants Spermicidal Creams Water Treatment Chemicals Aquaculture Chemicals Timber Protection Chemicals Coatings Others Market Segmentation by End-Use Industry Oil & Gas • • • • • • • • • • • • • 3 © Prescient & Strategic Intelligence Private Limited. All rights reserved

4. Pharmaceuticals & Cosmetics Pulp & Paper Textile Leather Horticulture & Household Chemical Others Market Segmentation by Region North America Benzalkonium Chloride Market • • • • • • • • oBy type oBy application oBy end-use industry oBy country – U.S. and Canada U.S. benzalkonium chloride market By type By application By end-use industry Europe Benzalkonium Chloride Market ▪ ▪ ▪ ▪ • oBy type oBy application oBy end-use industry oBy country – Germany, U.K., France, Italy, Spain, and Rest of Europe Germany benzalkonium chloride market By type By application By end-use industry Asia-Pacific (APAC) Benzalkonium Chloride Market ▪ ▪ ▪ ▪ • oBy type oBy application oBy end-use industry oBy country – China, India, Japan, and Rest of APAC China benzalkonium chloride market By type By application By end-use industry Japan benzalkonium chloride market ▪ ▪ ▪ ▪ ▪ 4 © Prescient & Strategic Intelligence Private Limited. All rights reserved

5. By type By application By end-use industry ▪ ▪ ▪ Latin America (LATAM) Benzalkonium Chloride Market • oBy type oBy application oBy end-use industry oBy country – Brazil, Mexico, and Rest of LATAM Middle East and Africa (MEA) Benzalkonium Chloride Market • oBy type oBy application oBy end-use industry oBy country – Saudi Arabia, South Africa, and Rest of MEA 5 © Prescient & Strategic Intelligence Private Limited. All rights reserved

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