New York, Oct. 10, 2023 (GLOBE NEWSWIRE) -- The global Glutaraldehyde Market is expected to witness significant growth at a remarkable CAGR of 4.4% during the forecast period of 2023-2031. Factors such as the significant growth in the healthcare industry in emerging economies, increasing demand for preservatives and biocides, and others are accelerating the demand for glutaraldehyde, which, in turn, is boosting market growth. In addition, the high demand for glutaraldehyde from various end-user Industries will further boost the market growth during the forecast period.
According to a recent report by Consegic Business Intelligence, the glutaraldehyde market is poised for strong expansion and is expected to reach USD 797.68 Million by 2031 and USD 566.58 million in 2023 with a compound annual growth rate of 4.4% during the forecast of 2023-2031. The market was valued at USD 547.22 million in 2022. The report highlights the significant growth in the healthcare industry in emerging economies across the globe, which is augmenting the global market growth. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the glutaraldehyde market.
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Glutaraldehyde is a saturated dialdehyde. Glutaraldehyde solutions are relatively inexpensive, are non-corrosive, and can be used to disinfect rubber, plastics, and endoscopic equipment. It is a powerful disinfectant and sterilizing agent. It is used to disinfect medical instruments, including endoscopes and surgical tools, in healthcare settings. It can effectively kill bacteria, viruses, and fungi, making it essential for infection control.
Glutaraldehyde is a biocide used in the oil and gas industry to control microbiologically influenced corrosion (MIC). It is added to hydraulic fracturing fluids and produces water to inactivate microorganisms. Similarly, it is also used for various applications in different end-user industries across the globe.
Global Glutaraldehyde Market: Report Attributes
Report Attributes | Report Details |
Study Timeline | 2017-2031 |
Market Size in 2031 (USD Million) | USD 797.68 Million |
CAGR (2023-2031) | 4.4% |
By Type | Glutaraldehyde 2%, Glutaraldehyde 25%, Glutaraldehyde 50%, and Others |
By Application | Sterilization, Disinfection, Tanning, Preservatives, Biocides, and Others |
By End-user Industry | Healthcare and Life Sciences, Water and Wastewater Treatment, Textile & Leather, Cosmetics & Personal Care, Research and Development, Oil & Gas, Agriculture, and Others |
By Region | North America, Asia-Pacific, Latin America, Europe, Middle East & Africa |
Key Players | LANXESS, TIMAC, AGRI International, Finoric LLC, Neogen Corporation, Surfachem Group Ltd., Dow Chemicals, Union Carbide, BASF SE, and Electron Microscopy Sciences |
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Global Glutaraldehyde Market Segmentation Details:
Based on Type, the glutaraldehyde 50% segment contributed the largest shares to the market growth in 2022. Glutaraldehyde 50% is used as a microbicide in cooling towers and air conditioning systems to reduce the infectivity of microbes, such as viruses or bacteria and it is also used in leather tanning processes. The significant growth in the leather processing industry is driving the segment growth globally.
Based on Application, the disinfection segment accounted for the largest market share in the year 2022. Glutaraldehyde is used for several applications in healthcare facilities for disinfectant and sterilization of surfaces and equipment. The significant growth in the demand for surface disinfectants in the healthcare industry is driving the segment growth.
Based on the End-user Industry, the healthcare & life sciences segment accounted for the largest market share in the year 2022. Glutaraldehyde is employed in pharmaceutical research and development to cross-link proteins. This process stabilizes protein structures making them more resistant to degradation. Increasing government initiatives to promote research in the pharmaceutical industry is driving the segment growth worldwide.
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Based on Region, in the year 2022, North America accounted for the largest share contribution to the market growth. The increasing spending on pharmaceutical research and development activities in the region is driving the demand for glutaraldehyde for pharmaceutical research activities. For instance, according to the report by the Congressional Budget Office in April 2021, 2019, the pharmaceutical industry spent 83 billion dollars on research and development activities.
Competitive Landscape
LANXESS, TIMAC, AGRI International, and BASF SE, are major market players that comprise the latest market circumstances. These companies are substantially leveraging their technologies for the development of a new range of glutaraldehyde. Further, the high demand for glutaraldehyde from various end-user industries, especially in regions such as the Asia Pacific, the Middle East, and Europe is estimated to boost the market statistics in the coming years. Additionally, the trend of using glutaraldehyde for water and wastewater treatment applications is benefitting the market growth globally.
Recent Developments
- In November 2022, Neogen Corporation announced that it has launched its trusted Synergize disinfectant in Europe, the Middle East, and Africa. Synergize disinfectant is a combination quaternary ammonium and glutaraldehyde multi-purpose disinfectant that is non-corrosive to hard surfaces, killing both Gram-negative and Gram-positive bacteria, fungi, spores, and viruses
Key Market Takeaways
- North America accounted for the highest market share at 36.11% valued at USD 547.22 million in 2022 and will reach USD 566.58 million in 2023 and is expected to reach USD 797.68 million in 2031. Moreover, in North America, the U.S. accounted for the highest market share of 89.23% during the base year of 2022.
- Based on type, the glutaraldehyde 50% segment accounted for the highest share contribution to the glutaraldehyde market statistics in 2022.
- In the application, the disinfection segment is expected to contribute significant shares to the growth of glutaraldehyde market statistics during the forecast period.
- In the end-user industry, the healthcare & life sciences segment is expected to contribute significant shares to the growth of glutaraldehyde market statistics during the forecast period.
- Asia Pacific is expected to boost the market demand due to the significant growth in the pharmaceutical, healthcare, and leather industries across the region.
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List of Major Global Glutaraldehyde Market:
- LANXESS
- TIMAC
- AGRI International
- Finoric LLC
- Neogen Corporation
- Surfachem Group Ltd.
- Dow Chemicals
- Union Carbide
- BASF SE
- Electron Microscopy Sciences
Global Glutaraldehyde Market Segmentation:
- By Type
- Glutaraldehyde 2%
- Glutaraldehyde 25%
- Glutaraldehyde 50%
- Others
- By Application
- Sterilization
- Disinfection
- Tanning
- Preservatives
- Biocides
- Others
- By End-user Industry
- Healthcare and Life Sciences
- Water and Wastewater Treatment
- Textile & Leather
- Cosmetics & Personal Care
- Research and Development
- Oil & Gas
- Agriculture
- Others
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Frequently Asked Questions in the Glutaraldehyde Market Report
- What is the market size of the glutaraldehyde industry in 2023?
- In 2023, the market size of glutaraldehyde is USD 566.58 million.
- What will be the potential market valuation for the glutaraldehyde industry by 2031?
- In 2031, the market size of glutaraldehyde will be expected to reach USD 797.68 million.
- What are the key factors restraining the growth of the glutaraldehyde market?
- Toxic and hazardous nature of glutaraldehyde is restraining the market growth at the global level.
- What is the dominating segment in the glutaraldehyde market by application?
- In 2022, the disinfection segment accounted for the highest market share in the overall glutaraldehyde market.
- Based on current market trends and future predictions, which geographical region is growing at the fastest CAGR over the forecast period in the glutaraldehyde market?
- Asia Pacific region accounted for the highest CAGR in the overall glutaraldehyde market.
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