Triclosan Market Expected to Reach $111.1 Million by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Triclosan Market," The triclosan market was valued at $69.90 million in 2021, and is estimated to reach $111.1 million by 2031, growing at a CAGR of 4.8% from 2022 to 2031.

The global triclosan market was valued at $69.9 million in 2021, and is projected to reach $111.1 million by 2031, growing at a CAGR of 4.8% from 2021 to 2031.

Triclosan is a polychloro phenoxy phenol, which is an aromatic compound and acts as an antibacterial and antifungal agent. It is a white crystalline solid, soluble in alkali, and rarely soluble in water. It is frequently added to consumer products for preventing bacterial contaminations. It has a wide range of applications in various end-use industries, including personal care & cosmetics, pharmaceutical, agriculture, healthcare, and others.

The cosmetics and personal care sector is one of the emerging sectors across the globe where triclosan is extensively used in the formulation of various skincare, and body care products, such as soap, lotions, face creams, gels, and moisturizers as an antibacterial, antifungal, and preservative agent. The growing demand from the cosmetics and personal care industry has increased the potential sales of triclosan in the market.

However, there are some standards set by the Food and Drug Administration (FDA) on the use of triclosan. Habitual consumption of triclosan may cause allergic effects, skin irritation, asthma, skin burn, and others. In addition, stringent government rules and regulations on the use of triclosan in consumer products in the U.S. and Europe have hampered the 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.

Rise in population across the globe, rise in infrastructure activity, increase in urbanization, industrialization, and others propel the construction sector growth, where triclosan is used as a coating, preservative, and protecting layer. The triclosan market has witnessed significant growth owing to increase in demand for paint and coating from the construction industry. These factors together are projected to create remunerative opportunities for the expansion of the triclosan market in the future.

The triclosan market is segmented on the basis of type, end-use industry, and region.

By type, the market is segregated into industrial grade and pharmaceutical grade. The industrial grade dominated the global market, in terms of revenue in 2021, with 68% share in the global market. Industrial grade exhibits various industrial products, such as types of machinery, equipment, and others that are extensively used for industrial applications. The triclosan possesses antibacterial and antifungal attributes, owing to which it is widely used in industrial application, such as conveyor belts, ice-making equipment, adhesives, textiles, and other industries. Industrial grade comprises various products and equipment that are being used for industrial applications where triclosan is incorporated into items, such as conveyor belts, as it prevents microbial growth while carrying material and goods In addition, it is widely used in the ice-making equipment and applied directly to HVAC (Heating, ventilation, and air conditioning) coils as an antimicrobial pesticide to prevent the growth of microorganism.  

By end-use industry, the market is fragmented into personal care and cosmetics, healthcare, and others. The personal care and cosmetics segment dominated the global market, in terms of revenue in 2021, with 65% share in the global market. The personal care and cosmetics segment comprises diversified skin care products where triclosan plays a significant role in increasing the potential sales of the personal care & beauty care industry. The triclosan is identified as a good source of preservative and biocide, owing to which, it is used in the formulation of cosmetics products, lotions, creams, and others. Region-wise, the triclosan market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The Asia-Pacific triclosan market size is projected to grow at the highest CAGR during the forecast period in 2021. Triclosan pose antibacterial property, making it viable to be used as active ingredient in shaving creams, plastics, and textiles. In addition, low concentration of triclosan is added during formulation of cosmetics and oral care products owing to its bacteriostatic property. The cosmetic industry in China has witnessed tremendous growth owing to factors, such as growing demand for luxury beauty products and rise in sales of cosmetic products. Growing cosmetics industry across China is anticipated to escalate the demand for triclosan, thereby driving the growth of the global triclosan market.

Key players operating in the global triclosan market include, 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., and Spectrum Chemical.

Key findings of the study

• By grade, the pharmaceutical grade segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 4.9% from 2022 to 2031.
• By end-use industry, the healthcare segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 5.0% from 2022 to 2031.
• Asia-Pacific garnered the highest share of 38% in 2021, in terms of revenue, growing at a CAGR of 5.1%.

COVID-19 Analysis:

The novel coronavirus is an incomparable pandemic that has spread to over 180 countries and caused huge losses of lives and economy around the globe. The global triclosan market has been moderately affected amid the COVID-19 pandemic. Antibacterial and antifungal property of triclosan makes it viable to be used as active ingredient during formulation of hand sanitizers and other consumer cleaning products. Emergence of COVID-19 has pushed the demand and need for hand sanitizers, antibacterial soaps, and other cleaning products. In addition, several key-players in the triclosan market are offering triclosan, which offers improved antibacterial and antifungal property.

For instance, Kumar Organics, a triclosan manufacturer conducted a third-party study that further demonstrated that triclosan was effective against HCoV-229E, a COVID-19 strain. In addition, virucidal efficacy of triclosan helps to prohibit the spread of the COVID-19 infection. Use of sanitizers and surface disinfection is primary paramount for limiting the growth of and transmission of virus particles. Moreover, use of triclosan could find its application across protective face masks, wipes, antimicrobial coatings, paints, pipes, door handles, bed foams, cleansers, hygiene products, sanitizers, and medical devices owing to its antibacterial property. All these factors have collectively escalated the demand for triclosan despite the COVID-19 pandemic.

In addition, antiviral activity of triclosan was studied and the triclosan was capable of blocking the synthesis of fatty acids by inhibiting the enoyl-acyl carrier protein reductase enzyme. Moreover, several assessments were also carried out to demonstrate the antiviral activity of triclosan against murine hepatitis virus (MHV), as a potential surrogate for SARS-CoV.