In 2021, the market for quaternary ammonium salts increased by 5.7% year on year (YoY), reaching a market value of US$ 970 million in 2022. By the end of 2032, global consumption of quaternary ammonium salts is predicted to have expanded at a 5.4% CAGR, totaling US$ 1.6 billion. Quaternary ammonium salts are an important feedstock substitute for the production of hand sanitizers and disinfectants, which has aroused the interest of manufacturers, consumers, and government authorities. The quaternary ammonium salts market refers to the global industry that manufactures and sells quaternary ammonium salts, which are organic compounds with a positively charged nitrogen atom and four organic substituents. Quaternary ammonium salts are employed in a variety of applications.
The growing demand for quaternary ammonium salts in various end-use sectors such as healthcare, food and beverage, and personal care is driving the market. In the next years, the rise of the healthcare industry, particularly in emerging economies, is likely to increase demand for quaternary ammonium salts. Furthermore, rising awareness of cleanliness and safety regulations in the food and beverage and personal care industries is likely to drive growth in 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.
Winning Strategy
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.
- BASF
- Clariant AG
- Evonik Industries AG
- KLK Oleo
- Nouryon
Some key questions that could be covered in a report on the quaternary ammonium salts market are:
- What are the current trends and developments in the quaternary ammonium salts market, and how are they expected to shape the market in the coming years?
- What are the key drivers, challenges, and opportunities in the quaternary ammonium salts market?
- What is the market size and growth rate of the quaternary ammonium salts market, and how is it expected to evolve in the forecast period?
- Which are the key applications of quaternary ammonium salts, and how are they being used in different industries?
- What are the different types of quaternary ammonium salts available in the market, and how do they differ in terms of functionality, features, and pricing?
- What are the key regions and countries driving the growth of the quaternary ammonium salts market, and what are the factors contributing to their dominance in the market?
- Who are the key players in the quaternary ammonium salts market, and what are their business strategies, product portfolios, and market shares?
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What are the emerging trends and opportunities in the quaternary ammonium salts market, and how can companies capitalize on them to gain a competitive advantage?
