On that account, the benzalkonium chloride market size is anticipated to exceed USD 1.28 billion by 2027, cites the latest research by Global Market Insights, Inc.
Recent trends in the benzalkonium market are driven by an increase in research and development activities in the light of the COVID-19 pandemic.
Considering an instance, in December 2020, scientists from the Brigham Young University conducted a study, in which they treated samples of the novel coronavirus strain with benzalkonium chloride. The chemical is utilized in alcohol-free hand sanitizers and numerous other quaternary ammonium compounds that are regularly found in disinfectants.
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In majority of the test cases, the chemical wiped out at least 99.9% of the virus within a period of 15 seconds. A rise in similar and other research studies is expected to escalate the demand for benzalkonium chloride solution through the forecasted period.
This upsurge is due to the increasing demand for disinfectants, antiseptics, antimicrobial preservatives, wetting agents, and solubilizing agents. The product is anticipated to gain considerable demand from eye care product manufacturers, given its application in ophthalmic solution and contact lens solution as disinfectants.
When combined with thimerosol preservative, the product has a remarkable application in nasal and ear formulation for the enhancement of antimicrobial activity against numerous bacterial strains.
Paper and pulp application of the product is anticipated to witness a CAGR of over 7.8% from 2021 to 2027. This is on account of the ability of benzalkonium chloride to accord antistatic property as well as strength to paper products. In addition to that, the benzalkonium market is expected to exceed USD 115 million from the food and beverage application by 2027. This is due to the non-toxic as well as anti-corrosive property which increases application in the formulation of cleaner sanitizer for dairies and food storage tanks.
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Benzalkonium chloride is also utilized in hygiene products for the penetration and removal of disinfecting and soil surfaces due to its cleaning and microbicidal property. This growth is due to the application of the product in agriculture which should escalate the share of the benzalkonium chloride market through the coming years.
The demand for agricultural inputs in addition to services such as warehousing and cold storage is expected to stimulate benzalkonium chloride market growth. Rising usage of biodegradable benzalkonium chloride as an option to chlorinated biocides and increasing environmental concerns are expected to augment the demand for wood protection applications through the forecasted period.
Looking at the prospects of regional expansion, North America is anticipated to record a growth of more than 8.5% through the forecasted period. This rise is attributed to multiple applications across the food & beverage as well as pharmaceutical sectors. Asia Pacific is expected to record more than 9% gains through 2027, considering the rapid increase in agricultural activities and industrialization in the region.
However, the concerns regarding benzalkonium chloride’s side effects on account of exposure to high concentration of the product is likely to hinder industry growth to some extent.
On the whole, the surging product demand as disinfectants in household as well as industrial applications is expected to augment benzalkonium chloride industry outlook through the forecasted period.
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.