According to Custom Market Insights (CMI), The Global Triclosan Market size was estimated at USD 68.5 million in 2021 and is expected to hit around USD 112.1 million by 2030, poised to grow at a compound annual growth rate (CAGR) of 5.8% from 2022 to 2030.
Triclosan is a polychloro phenoxy phenol, an aromatic compound that acts as an antibacterial and antifungal agent. It is a white crystalline solid, soluble in alkali and rarely in water. It is frequently added to consumer products to prevent bacterial contaminations. It has various applications in various end-use industries, including personal care & cosmetics, pharmaceutical, agriculture, healthcare, and many others.
Browse the full “Triclosan Market Size, Trends and Insights By Grade (Industrial Grade, Pharmaceutical Grade), By End-use Industry (Personal Care and Cosmetics, Healthcare, Agriculture, Others), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share Outlook, and Forecast 2023–2032” report at https://www.custommarketinsights.com/report/triclosan-market/
Market Dynamics
Drivers
The cosmetics and personal care sector is one of the emerging sectors across the globe where triclosan is extensively used to formulate various skincare and body care products such as soap, lotions, face creams, gels, and moisturizers as an antibacterial, antifungal, and preservative agent. Therefore, the growing demand from the cosmetics and personal care industry has increased the potential sales of triclosan in the market.
Restraints
However, some standards are set by the Food and Drug Administration (FDA) on the use of triclosan. As a result, habitual consumption of triclosan may cause allergic effects, skin irritation, asthma, skin burn, and others. In addition, stringent government rules and regulations on using triclosan in consumer products in the U.S. and Europe have hampered overall market growth. For instance, the U.S. Food and Drug Administration (USFDA) has stated that manufacturers must demonstrate that their consumer products containing triclosan are safe. These factors are restraining the overall growth of the triclosan market.
Opportunities
The factors such as the rise in population across the globe, rising infrastructure activity, increasing urbanization, industrialization, and others propelling the construction sector where triclosan is used as a coating, preservative, and protecting layer. The triclosan market has witnessed significant growth owing to the construction industry’s increased demand for paint and coating. These factors together are projected to create remunerative opportunities for the expansion of the triclosan market.
Challenges.
The use of triclosan is banned by the food and drug administration (FDA) in Europe due to its adverse effect on human health. These factors are expected to hamper the growth of triclosan in the market.
Report Highlights.
Based on grade, the segment includes industrial grade and pharmaceutical grade. The industrial grade segment dominated the market in 2021 and is expected to grow over the forecast period. The industrial step comprises various products and equipment used for industrial applications where triclosan is incorporated into items such as conveyor belts to prevent microbial growth while carrying material and goods. This is anticipated to increase the demand for triclosan in the industrial sector.
Based on Application, the segment includes personal care and cosmetics, healthcare, agriculture, and others. The personal care and cosmetics industry dominates the triclosan market and is expected to remain the dominant segment during the forecast period. The triclosan containing cosmetics products such as lotions, creams, foundations, and many others are being used widely by the consumer due to their antibacterial and antifungal properties. Therefore, the demand for triclosan will grow in the cosmetics industry during the forecast period.
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Regional Snapshots.
Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Asia-Pacific is the dominant region in the triclosan market. This region is also anticipated to maintain its dominance throughout the forecast period. Countries such as China, Japan, India, and others have significantly contributed to the region’s triclosan market growth.
Critical factors for developing pharmaceutical, cosmetics, and personal care products, the medical sector, agriculture, and other end-use industries have surged the demand for triclosan. Furthermore, the pharmaceutical sector is one of the booming sectors in India. For instance, according to a report published by NITI Aayog in March 2021, India’s healthcare industry has been growing at a (CAGR) of around 22% since 2016. This rate is expected to reach USD 372 billion in 2022. These factors together increase the usage of triclosan in the growing healthcare industry as an antibacterial, disinfectant, and preservative in various healthcare products.
Key Players
- BASF SE
- Cayman Chemical
- DEV IMPEX
- Jiangsu Huanxin High-tech Materials Co. Ltd
- Kumar Organic Products Limited
- Merck KGaA
- R. A. DYESTUFFS (INDIA) P. LIMITED
- Salicylates and Chemicals Pvt. Ltd.
- Shandong Aoyou Biological Technology Co. Ltd
- Spectrum Chemical
- Shandong Do you
- Xian MEHECO
- Xiangyun Group
- Yichang Yongnuo
- Vivimed Labs
Table of Contents: https://www.custommarketinsights.com/report/triclosan-market/#table-of-contents
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