Tag: personal care products

Advancing Industries with Polyetheramine: Exploring the Global Market

The polyetheramine industry has garnered $1,009.1 million revenue in 2021, and it is projected to rise at the rate of 9.0%, to contribute $2,183.6 billion revenue in 2030. It is led by surging infrastructure development, rising disposable income, increasing R&D expenditure, and growing automotive & transportation, wind energy, and building & renovation industries, led by burst resistance, high durability, fatigue tolerance, and wear & tear resistance.

Epoxy coating category captures the largest industry share, and it is projected to experience faster growth in the coming years. It is led by rising demand for waterborne epoxy coatings, the surging end-use industries, and growing demand for developing nations, such as India and China, including surging infrastructural developments with massive usage of the coatings boost the industry growth.

Moreover, adhesives and sealants hold the largest share of industry revenue. It is attributed to the surging consumption of polyamine-based sealants and adhesives, as they offer a strong, flexible elastomeric, and durable elastomeric bond that seals against elements.

Additionally, the fuel additives category captures the largest industry share in the coming years. The significant consumption of polyetheramine, owing to its application to clean injectors, carburettors, and valves in vehicles, as well as its ability to mitigate poisonous fumes.

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Furthermore, the polyurea category captures the largest industry share. It is ascribed to massive coating applications in various areas, including swimming pools, heavy machinery, vehicles, truck beds, wood structures, decorative elements, and polystyrene sculptures, led by their properties such as protection against corrosion and abrasion damage.

The ongoing developmental projects in the developing countries, led by a burgeoning population, surging individual buying power and increasing FDI, resulting in the growing demand for polyetheramines fuel industry growth.

Therefore rising expansion of the construction sector in emerging countries fuels industry growth.

Benzalkonium Chloride Market: Emerging Trends, Applications, and Growth Opportunities

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
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.

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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.