DDAC Market Value – US$ 998.3 Mn by 2028 Prediction By Acumen Research and Consulting

(Heraldkeepers via Comtex)

The global didecyldimethylammonium chloride (DDAC) market is expected to reach US$ 998.3 Mn in 2028 and is anticipated to register CAGR of 11.2% from 2021-2028

In 2020, North America accounted for revenue of US$ 144.5 Mn in the global didecyldimethylammonium chloride market due to the wide applicability of DDAC in the pharmaceutical and water treatment industry. The pharmaceutical sector in the region is witnessing high growth. The rise in investment and high focus on the development of new drugs is gaining momentum. The huge presence of players with well-established manufacturing facilities is focused on the introduction of new products.

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In 2019, the pharmaceutical companies in the US spent about one-quarter of their revenues on R&D expenses. Consumer's awareness among deadly infections and virus is increasing; with the high spending capacity and adoption of various cleaning product is expected to impact the growth of target market. Didecyldimethylammonium chloride is widely used in antiseptic and disinfectant products. According to a survey in US, a family spends US$40 - US$50 every month in supermarkets and stores for purchasing house cleaning supplies. Moreover, according to this survey, in the US the laundry and household cleaners' products sale was approximately 1.4 Bn and 1.04 Bn respectively in 2019.

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According to Centers for Disease Control and Prevention (CDC), microbial infections are the rise and healthcare-associated infections (HAIs) kills more people as compared to road accidents, breast cancer and AIDS combined. As DDAC is widely used in disinfectants and surface cleaners, the government implemented various regulations on DDAC to boost the production of disinfectants and cleaners during the COVID-19 pandemic, which led to the growth in demand for DDAC in US. Major players are investing high in the development of new products and their approach towards enhancing the business and customer base through new product launches is expected to augment the growth of didecyldimethylammonium chloride market in this region.

  • In 2020, Clenova, a global manufacturer of essential products launched its new product line of hand sanitizer and other essential products under the brand name "Clenova". This product launch is expected to help the company enhance its business and increase the customer base.
  • In 2020, Procter & Gamble Co. launched "Microban 24". The product is a spray that can kill 99% of Staphylococcus aureus & Enterobacter aerogenes and prevents growth of bacteria for 24 hours. This product launch is expected to help the company enhance its business are increase the revenue.

Growing application of DDAC in timber protection, water treatment and horticulture

The DDAC market in Asia Pacific is expected to witness faster growth due it's to increasing demand from timber and water treatment industry. The governments of developing countries are spending high on the water treatment. In 2021 the government of India allocated US$ 3bn to the water resource department. Around 71% of the allocation went to the Department of Drinking Water and Sanitation, the rest (29%) to the Department of Water Resources. DDAC being rapid acting biocide is highly used in water treatment process and is highly used in wastewater treatment plants. The timber industry is experiencing rapid growth in the region. Like Vietnam and China, India is also a major importer of timber. Wood-boring insects, termites, and fungi are some major threats that the industry has to deal with. This is increasing demand for enhanced preservatives and protection with DDAC as it is better fungicidal in order to prevent timber loss.

The flourishing horticulture sector in the region, high spending by the government for the development of industry, favorable business policies are factors impacting the growth of didecyldimethylammonium chloride market. There is a noticeable increase in demand for fresh fruits and vegetables from consumers. Along with the focus on production, disinfection is also a major processing step. Manufacturers are focused on enhancing the product’s shelf life as well maintain the quality and safety of the products. Enterprises with the integration of DDAC are enhancing the antimicrobial efficiency of the product. Players are focused on enhancing the business in developing regions; increasing merger & acquisition activities by major players in order to enhance the customer base is expected to support the growth of target market.

Growth factors for global DDAC market

An increasing number of patients suffering from infections outdoor and in hospitals, and rising awareness related to safety among consumers are resulting in rising demand for disinfectants and cleaning products containing DDAC is growing. There is a noticeable increase in number of surgeries across the globe; demand for antiseptic products from hospitals in operating rooms and sterilization of surgical instruments, endoscopes, etc. is expected to drive demand for DDAC. In addition, the flourishing chemical sector across the globe, increasing R&D activities by major players for the development of new products, and the wide applicability of DDAC in various end use industries are factors expected to support the growth of target market.

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Side effects and stringent government regulation hinder the market growth

Factors such as stringent government regulations related to product approval and side-effects of the chemicals are expected to hamper the growth of global didecyldimethylammonium chloride market. In recent years, FDA has renewed its review of over-the-counter topical antimicrobial drug products considering human exposure and antimicrobial efficacy, in addition to human safety. In addition, fluctuating raw material prices is expected to challenge the growth of the target market. However, increasing investment by major players, changing government regulations and business policies, and the introduction of new products are factors expected to create new opportunities for players operating in the target market over the forecast period.

The global didecyldimethylammonium chloride market is segmented into types, applications, and end-use. The type segment is divided into 0.99, 0.8, 0.5, and other (0.7& 0.6) purity grade. Among the types, 0.8 segment is expected to account for significant revenue share in the global market. The application segment is bifurcated into disinfectants, preservatives, pesticides, and others. The disinfectants segment was US$ 170.6 Mn in 2020 in the global didecyldimethylammonium chloride market. High demand from hospitals, hotels and consumer products is expected to aid the growth of target segment. The end use segment is divided into oil & gas, pharmaceuticals & cosmetics, water treatment, timber protection, horticulture & household, and others.

The players operating in the global didecyldimethylammonium chloride market are Yixing Kailida Chemical, Guangzhou Zhonghai Chemical Co., Ltd., Lonza, Xiamen XM-Innovation Chemical, Normac Chem Co.,Ltd., Solvay, and Stepan Company. The competitive landscape is high competitive for the DDAC market due to large presence of players operating. New product launch is creating cut-throat competition in the market.

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Content Source: https://www.globenewswire.com/news-release/2021/10/12/2312555/0/en/DDAC-Market-Value-US-387-5-Mn-in-2020-Prediction-By-Acumen-Research-and-Consulting.html

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