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Quaternary Ammonium Compounds Market Analysis, Trends, Growth, Research And Forecast 2033
Quaternary Ammonium Compounds Market Analysis
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According to The Business Research Company's, The quaternary ammonium compounds market size has grown steadily in recent years. It will grow from $1.02 billion in 2023 to $1.07 billion in 2024 at a compound annual growth rate (CAGR) of 4.9%. The growth in the historic period can be attributed to increasing demand for disinfectants, a rise in healthcare-associated infections, growing awareness regarding hygiene and sanitation, diverse applications, and growing online distribution.
The quaternary ammonium compounds market size is expected to see strong growth in the next few years. It will grow to $1.31 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The growth in the forecast period can be attributed to increasing regulations promoting cleanliness and hygiene standards, growing consumer awareness regarding health and hygiene, growing trends towards sustainable products, industrial growth, urbanization, and consumer awareness. Major trends in the forecast period include innovations in manufacturing processes, improved healthcare access, launches of new products and services, technological advancements, and increasing research and development.
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Market Drivers and Trends:
The rise in industrialization is expected to propel the growth of the quaternary ammonium compounds market going forward. Industries are rising due to technological advancements, increasing consumer demand, and globalization, which drive economic growth and create new opportunities for businesses. Quaternary ammonium compounds are required in industries for their effective disinfectant properties, ability to control microbial growth, and versatility in cleaning and sanitizing a variety of surfaces and equipment. For instance, in May 2024, according to a report published by the Office for National Statistics, a UK-based executive office of the UK Statistics Authority, monthly production output increased by 0.2% in March 2024, following a 1.0% rise in February 2024. Manufacturing output also grew by 0.3% in March, with 5 out of 13 subsectors experiencing growth, showing a varied performance across the sector. Therefore, the rise in industrialization is driving the growth of the quaternary ammonium compounds market.
Major companies operating in the quaternary ammonium compounds market are developing technologically advanced products, such as disinfectants, to effectively eliminate harmful microorganisms. Disinfectants are chemical agents used to destroy or inactivate harmful microorganisms on surfaces and objects to prevent the spread of infection and ensure cleanliness. For instance, in February 2022, SC Johnson Professional, a US-based provider of professional cleaning and hygiene products, launched Quaternary Disinfectant Cleaner in a new easy-to-measure, squeeze-and-pour bottle. The cleaner stands out as a versatile, labor-saving solution that cleans, disinfects, and deodorizes in one step. Its user-friendly packaging simplifies dilution for use in buckets, automatic scrubbers, or spray bottles. This one-step virucide is effective against a broad range of bacteria and fungi and inhibits mold and mildew growth and their associated odors when used as directed.
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Major Key Players of the Market:
BASF SE, Thermo Fisher Scientific Inc., Novo Nordisk Pharmatech A/S, Evonik Industries AG, DuPont de Nemours Inc., KAO Corporation, S. C. Johnson & Son Inc., Arkema SA, Lanxess AG, Huntsman International LLC, Lonza Group AG, Nouryon, H.B. Fuller Company, Stepan Company, Croda International PLC, Ashland Inc., PDI Inc., SACHEM Inc., Global Amines Company Pte. Ltd., LobaChemie Pvt. Ltd., Intech Organics Ltd., Innova Corporate
Quaternary Ammonium Compounds Market 2024 Key Insights:
• The quaternary ammonium compounds market size is expected to see strong growth in the next few years. It will grow to $1.31 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%.
• Industrial Growth Fuels Expansion Of The Quaternary Ammonium Compounds Market
• Innovative Advances In Quaternary Ammonium Compounds
• North America was the largest region in the quaternary ammonium compounds market in 2023
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