According to a report, “Chelating Agents Market Analysis By Product (Sodium Gluconate, Aminopolycarboxylate, Organphosphonates), By Application (Pulp & Paper, Household &Industrial Cleaning, Agrochemicals, Water Treatment, Chemical Processing, Consumer Products, Pharmaceutical) And Segment Forecasts To 2024″published by Grand View Research, Inc.,The global chelating agents market is expected to reach USD 5.17 billion by 2024, , Inc. Increasing requirement for chelating agents in cleaners & detergents to boost the performance of the finished product is expected to drive growth.
Increasing demand for cleaners & detergents in the household and industrial applications on account of rising consumer awareness regarding hygiene and extending the lifespan of equipment by keeping it clean is expected to bolster demand. Household & industrial cleaning is anticipated to account for 25.4% of the volume by 2024.
Key Takeaways from the report:
Global chelating agents size was 1,026.0 kilo tons in 2015 and is expected to reach 1,348.4 kilo tons by 2024, growing at a CAGR of 3.1% from 2016 to 2024
Agrochemicals are projected to witness gains at a CAGR of 3.6% from 2016 to 2024, on account of increasing agriculture practices. Chelating agents are used as pesticides and insecticides to promote plant growth. Introduction and implementation of Integrated Nutrient Management (INM) and Integrated Pest Management (IPM)practices to increase crop yield by governments across the globe is expected to boost market demand.
Pharmaceutical is anticipated to be a potential market for chelating agents over the forecast period on account of increasing government spending on providing primary healthcare facilities to its citizens. Pharmaceuticals market is estimated to be valued at USD 114.6 million by 2024.
Asia Pacific was the largest market and accounted for 38.5% of the global revenue in 2015. The region is expected to witness significant growth over the forecast period on account of growing demand from the detergent industry in emerging economies such as China and India. This factor has resulted in increasing production volumes of various manufacturers of chelating agents.
North America was the second largest market and was worth USD 1.10 billion in 2015. Strict environmental regulations have influenced manufacturers to shift from conventional chelating agents towards bio-degradable agents. Europe followed North America and accounted for 21.8% of the global revenue in 2015.
Key market participants include The Dow Chemical Company, Tate & Lyle, Kemira Oyj, AkzoNobel N.V., Archer Daniel Midland, Lanxess AG and Cargill Incorporated. In September 2015, ChemPoint EMEA B.V, a company engaged in sales marketing and distribution of specialty chemicals announced that it was expanding its marketing and distribution relationship with The Dow Chemical Company by providing formulation, sales and order fulfillment support for the company’s VERSENE which is food grade chelating agent and used in food applications.
North America chelating agents market volume, by application, 2013 – 2024 (Kilo Tons)
Application Insights
Pulp & paper dominated the global chelating agents market accounting for over 35% of the overall share, in terms of volume as well as revenue, in 2015. Increasing demand for graphic and tissue papers is expected to augment pulp & paper growth. Moreover, these chemicalsplay a crucial part are considered as an integral element of the pulp & paper making process. They not only enhance the effectiveness of hydrosulfite and hydrogen peroxide bleaches but also minimize the bleaching costs and downtimes. The addition of chelating agents to the pulp processing and papermaking process removes the scales, thus improves the overall efficiency.
Household &industrial cleaning was the second largest segment valued at USD 976.6 million gaining a competitive share in the global chelating agent market. These chemicals are used for the treatment of hard water, thus making it available for drinking and commercial purposes.
Textiles and Food& beverages are other significant application segments expected to grow over next few years, owing to rising health concerns and improving living standards among the growing population.
Ask Our Industry Expert for more details on report – www.grandviewresearch.com/inquiry/952/ibb
Regional Insights
Asia Pacific contributed to 39.5% of the global chelating agents industry volume in 2015, making it the largest market. This trend is expected to continue over the projected period owing to continuous innovations & developments in the textile, and pulp & paper industries of the region.
Emerging economies of the region including India, China, Japan, Indonesia, and South Korea, are expected to show significant improvements in the water treatment, cleaning, and detergents application sectors owing to the rising population coupled with their increasing awareness.
Increased demand from the food & beverages industry of the region is also projected to augment the chelating agents market demand over the forecast period. Rapid urbanization and continuous industrialization, surging demand for clean & treated water, and processed food are few other key factors driving the market in Asia Pacific.
Grand View Research has segmented the global chelating agents market on the basis of product, application and region:
Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 – 2024)
Sodium gluconate
Organphosphonates
Aminopolycarboxylate
Others
Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 – 2024)
Pulp & paper
Household & industrial cleaning
Agrochemicals
Water treatment
Chemical processing
Consumer products
Pharmaceuticals
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 – 2024)
North America
U.S.
Canada
Mexico
Europe
Spain
Germany
France
UK
Netherlands
Rest of Europe
Asia Pacific
China
India
Japan
Rest of Asia Pacific
Latin America
Brazil
MEA
Browse Latest Research Insight:
Explore the BI enabled intuitive market research database, Navigate with Grand View Compass, by Grand View Research, Inc.Regional Insights
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunity.
Media ContactCompany Name: Grand View Research, Inc.Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.Email: Send EmailPhone: 1-415-349-0058, Toll Free: 1-888-202-9519Address:201, Spear Street, 1100 City: San FranciscoState: CaliforniaCountry: United StatesWebsite: www.grandviewresearch.com/industry-analysis/chelating-agents-market