The market for quaternary ammonium salts grew annually (YoY) by 5.7% in 2021, reaching a market value of US$ 970 million in 2022. By the end of 2032, it is expected that the global consumption of quaternary ammonium salts will have increased at a 5.4% CAGR, totaling US$ 1.6 billion. Quaternary ammonium salts are an essential replacement for the feedstock used in the production of hand sanitizers and disinfectants, and this has piqued the interest of manufacturers, consumers, and government policymakers. The quaternary ammonium salts market refers to the global industry that produces and sells various types of quaternary ammonium salts, which are organic compounds that contain a positively charged nitrogen atom and four organic substituents. Quaternary ammonium salts are used in a wide range of applications, such as disinfectants, surfactants, catalysts, and others.
The market is driven by the increasing demand for quaternary ammonium salts in various end-use industries, such as healthcare, food and beverage, and personal care. The growth of the healthcare industry, especially in emerging economies, is expected to drive the demand for quaternary ammonium salts in the coming years. Additionally, the increasing awareness about hygiene and safety standards in the food and beverage and personal care industries is expected to create opportunities for the quaternary ammonium salts market
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Key Takeaways from Market Study
- The global quaternary ammonium salts market is dominated by Europe, as it has established itself as the cosmetic manufacturing hub of the world, and accounted for nearly 30.2% market at the end of 2021.
- Out of the end- uses considered in the scope of the study, personal care & cosmetics are set to dominate consumption during the forecast period (2022-2032), increasing at a 6.2% CAGR.
- By 2032, the disinfectant function of quaternary ammonium salts is poised to be the major demand generator, accounting for nearly 33.2% market share.
End users involved in the personal care & cosmetics industry, as well as vital stakeholders in disinfectant and sanitiser manufacturing, are investing in expanding their production capacity. Tier-2 manufacturers need to follow suit and collaborate with end-use product manufacturers in an attempt to capitalize on new pioneering discoveries in quaternary ammonium salts, ensuring futuristic revenue-generating opportunities.
Capacity expansion and meeting the burgeoning demand for newer-age cosmetic products are already on the horizon, and manufacturers are looking to increase their market presence and regional dominance in the ever-growing market.
Key Companies Profiled
- Arkema S.A.
- Clariant AG
- Evonik Industries AG
- KLK Oleo