The rising consumer preference of high-performance and lightweight electronic products is driving the demand for conductive polymers across the world. These polymers are extensively used in wearable and flexible electronics, cell phones, various flexible inorganic semiconductors, laptops, displays, and other gadgets. With the surging income of people in emerging economies, such as China, the use of conductive polymers in the manufacturing of lightweight electronic products will shoot up in the forthcoming years.
Conductive Polymers Market
ESD and EMI protection, actuators, capacitors, antistatic packaging, batteries, sensor, solar cells, and batteries are the major application areas of conductive polymers. Out of these, the requirement for conductive polymers was found to be the highest in ESD and EMI protection applications in the past. This was primarily because of the high requirement for the polymers in electronic device protection, owing to their success in the domain of corrosion control coating, on account of their biodegradable characteristics and conductive ability.
In the APAC region, the sales of these batteries are predicted to soar massively in China in the upcoming years. This will be because of the existence of several conductive polymer producers, such as Saudi Basic Industries Corporation (SABIC) and The 3M Company, rising requirement for electrostatic coatings on window panes and door panels, especially in the residential construction sector, and booming electronics industry in the country. In the RoW region, the demand for these polymers is soaring in Brazil.
The surging usage of high temperature elastomers in the automotive industry is propelling their sales around the world. Moreover, with the boom in the automotive industry, especially in the Latin American and Asia-Pacific countries, the demand for these elastomers is rising sharply. These elastomers are extensively used in gaskets, boots, seals, dampers, and hoses, on account of their various beneficial characteristics such as resistance to automotive lubricants and heat, flexibility, and durability.
High Temperature Elastomers Market
This was mainly because of the extensive usage of these elastomers in the automotive and construction industries. For example, silicone elastomers are used as structural glazing material and sealant in the construction industry and in vibration dampers and cure place gaskets in the automotive industry. Automobile and transportation, healthcare, semiconductor and electronics, consumer products, chemical processing, construction, and industrial machinery are the major application areas of high temperature elastomers. Out of these, the usage of these elastomers was the highest in automobile and transportation applications in 2017.
This is ascribed to the existence of several end use industries and many electrical and electronics manufacturing firms, increasing construction activities, and rapid economic progress of the regional countries. In addition to this, the expanding industrial base in India and China, due to their economic growth, is also driving the demand for these elastomers in the region. KCC Corporation, Dow Corning Corporation, Wacker Chemie AG, Solvay S.A., 3M Company, and Momentive Performance Materials Inc., are some of the major high temperature elastomer producing companies across the world.
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.
Benzalkonium Chloride Market
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.
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 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.
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.
