Comprehensive Quaternary Ammonium Compounds (QUATs) Market Analysis: Size, Share, Trends, and CAGR 6% Forecast for 2023-2028
The Global Quaternary Ammonium Compounds (QUATs)s Market is projected to grow at a CAGR of around 6% during the forecast period, i.e., 2023-28. This detailed analysis offers valuable insights into the key growth drivers, geographical dynamics, and emerging trends that are poised to shape the market's trajectory in the coming years.
During historical years, the demand primarily came from the hospitals & industrial sectors, as they are used for the production of disinfectants to be used for sanitization. These bioactive agents are active against microbes like yeasts, molds, viruses, and gram+ to gram- bacteria & it is effective in all pH ranges, which makes them an ideal antimicrobial ingredient, leading to their enhanced adoption.
The rise in caesarian deliveries, appendicitis operations, and other cosmetic surgeries that necessitate proper sanitization raises the need for QUATs containing disinfectants. Besides, the rising incidence of hospital-acquired infections has increased demand, as they aid in the killing of bacteria & germs such as salmonella, staphylococcus aureus, and others, and help to reduce the risk of infection spread in hospitals.
However, in 2020, due to the prevalence of COVID-19, health concerns due to poor sanitation practices rose to prominence, and consumers became more aware of proper sanitation & hygiene practices. It led to behavioral change among individuals across the world, and they adopted practices such as surface cleaning, hand sanitizing, etc., which elevated the usage of QUATs containing disinfectants. The presence of bacteria, viruses, and other microorganisms in the surrounding is rising, and the fear of infections & outbreaks persists.
Moreover, as offices, theaters, restaurants, and other public places opened up & individuals started to gather, the need for cleaning the spaces at very frequent intervals grew further. Therefore, this is anticipated to generate more demand for the Quaternary Ammonium Compounds to produce disinfectants & sanitizers to clean the spaces and maintain hygienic practices in public during the forecast period.
Additionally, they are also used in wastewater treatment methods as they disinfect the water & control algae, which, in turn, lifted its demand for cleaning swimming pools, hot tubs, and public fountains. Also, they prevent the accumulation of fungi & insects. Thus, are widely used in the prevention of wooden and textile materials. As a result, the widespread use of these bioactive compounds as disinfectants in hospitals, schools, offices, and homes, among other places, is expected to boost the growth.
Exploring the Market Dynamics: What’s Driving the Growth of Quaternary Ammonium Compounds (QUATs) Market?
Burgeoning Growth of the Electronics & Electric Industry to Positively Impact the Market - The rising demand for PMMA for the manufacturing of electronic equipment displays, LCD screens, mobile phone screens, etc., due to its benefits such as durability, light transmittance, high scratch & impact resistance, etc., has positively contributed to the growth of the market during 2018-22. In addition, the growing disposable income of customers from across the globe is positively impacting the commercial sales of electronic gadgets such as mobile phones, TV & video equipment, etc.
Moreover, the surging demand for electrical & electronic appliances has led to the expansion of manufacturing capabilities. Thus, the growing demand from the electronics & electric industry is expected to create an opportunity for developing more PMMA manufacturing sites in the forecast years.
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Key Takeaways from the Market Study:
· Historical Data: 2018-21
· Base Year: 2022
· Forecast Period: 2023-28
· CAGR (2023-2028): 6%
· Key Players to Watch: Kao Chemicals, Novo Nordisk Pharmatech, Chem Point, Sachem, Merck, Steris, EcoLab, Essential Industries, Neo San Labs, Simoniz USA Inc., Theochem Laboratories Inc., Delta Finochem, Dishman Carbogen Amcis, Thor Group Ltd, Canberra Corp, Others are expected to play a pivotal role in driving market growth through strategic investments, partnerships, and innovation.
Latest News in the Quaternary Ammonium Compounds (QUATs) Industry:
- 2021: Novo Nordisk Pharmatech A/S partnered with IMCoPharma a.s. to distribute its pharmaceutical-grade quaternary ammonium compounds to the healthcare industry across the Russian market & other CIS countries.
- 2019: Novo Nordisk Pharmatech partnered with DKSH to provide high-quality QUATs in 11 Asia-Pacific regions, i.e., New Zealand, Australia, Japan, South Korea, Indonesia, Thailand, Philippines, Malaysia, China, Singapore, and Taiwan
Market Segmentation of Quaternary Ammonium Compounds (QUATs) Industry
The Quaternary Ammonium Compounds (QUATs) market is segmented as follows:
- By Application
- Disinfectant
- Antibacterial Material
- Surfactant & Emulsifier
- Preservative
- Others (Active Ingredient in Mouth Wash, Fabric Softener, etc.)
- By End-User
- Industrial
- Pharmaceuticals
According to report , the rechargeable segment holds a larger share of the Global Quaternary Ammonium Compounds (QUATs) Market mainly due to their lower costs.
According to reports, offline retail holds the largest market share.
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Quaternary Ammonium Compounds (QUATs) Market Geographical Analysis
North America
South America
Europe
Middle East & Africa
Asia-Pacific
According to reports, North America holds a prominent share of the Quaternary Ammonium Compounds (QUATs) Market
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