Chelating Agents market Size
Chelating Agents Industry to accrue lucrative revenue via pulp & paper applications over 2016-2024, APAC to majorly drive the global landscape
Chelating Agents Market is expected to observe a notable growth rate, driven by the extensive application of the product in consumer goods, pulp & paper, chemical processing, household & industrial cleaning, agrochemicals, and water treatment sectors. The thriving wastewater treatment chemicals market, which is projected to hit the revenue of USD 35 billion by 2023, is forecast to further boost market demand. Of late, there have been growing concerns toward the maintenance of hygiene in public places. Besides, rising awareness regarding the rampant proliferation of household microorganisms that occur as a result of surface contamination will also provide lucrative opportunities for chelating agents industry players. As per Global Market Insights, Inc., “Chelating agents industry is slated to hit the targeted revenue margin of USD 5 billion by 2024, registering a CAGR of 3% during the period of 2016 to 2024.”
Europe Chelating Agents Market size, by application, 2013 – 2024 (USD Million)
Pulp & paper sector, which collected a revenue of USD 500 billion in 2015, is projected to boost the growth of chelating agents market. The industry expansion can be attributed to wide product application in descaling, pulp bleaching, recycled paper items, chemical pulping, paper-based flexible packaging, and whitening. Rising usage of agrochemicals in farming to improve the crop yield for satisfying the global food requirement will lucratively leverage chelating agents industry revenue. Agrochemicals sector, which amassed a revenue of over USD 300 million in 2015, is predicted to grow at a rate of 4% over the period of 2016-2024.
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Considering the geographical trends, Asia Pacific chelating agents industry, which contributed over 40% of the global chelating agents market share in 2015, is projected to grow at an annual rate of 4% over the coming seven years. The expansion can be credited to the large-scale presence of agrochemical and pulp & paper manufacturing firms across the countries such as Japan, China, Thailand, India, Indonesia, Philippines, and Malaysia. Rising health & hygiene consciousness among the growing population of India and China will enhance the product demand for household detergents & cleaners and industrial waste water treatment, thereby positively influencing the industry trends in the region.
Chelating agents market size in Europe, evaluated at over USD 850 million in 2015, is projected to grow at a rate of 3% over the coming timeframe, subject to rise in the number of paper & pulp manufacturing firms. An increase in the number of industrial activities across East Europe will further boost the regional revenue.
Sodium gluconate, APCA (Aminopolycarboxylic Acid), and organophosphates are the major cheating agents. Sodium gluconate, which accounted for more than 35% of the overall chelating agents industry share in 2015, is slated to record a notable CAGR over the next few years. The growth can be credited to product’s superior chelating and biodegradable characteristics along with its non-toxic & eco-friendly traits.
Easy raw material availability and rise in the number of R&D activities pertaining to the production of chelating agents will encourage new entrepreneurs to enter the business arena. Chelating agents market is highly fragmented subject to the presence of small and medium sized firms as well as large corporations. Key industry participants will try to increase their product portfolio and raise their manufacturing capacities through joint ventures, partnerships, product innovations, and strategic alliances.
AkzoNobel N.V., BASF SE, Sigma-Aldrich Corporation, Archer Daniels Midland (ADM) Company, The Dow Chemical Company, Shandong IRO Chelating Chemical Company Limited, Mitsubishi Rayon Company Limited, EMD Millipore Corporation, Lanxess Aktiengesellschaft, Cargill Incorporation, Kemira Oyj, AVA Chemicals Private Limited, Tate & Lyle plc, and Nagase ChemteX Corporation are the key players of chelating agents industry.
Author Name :Dhananjay Punekar