Pulp and Paper Sector to Drive Chelating Agents Market Growth Over 2016-2024, APAC to be a Strong Ground
Publisher : Fractovia | Published Date : 2017-04-14Request Sample
The vivid magnification of Chelating Agents Market can be majorly attributed to the product’s extensive usage in a wide range of applications, pulp and paper sector at the forefront. With the increasing global trend of using recycled paper products, the market is anticipated to record a higher benchmark in the coming timeframe. Favorable regulations relating to heath & hygiene along with a noticeable rise in consumer awareness about the prevalence of household microbes resulting from unclean surfaces is mandating chelating agent’s usage in manufacturing industrial and household detergents, thereby ensuring higher penetration of the industry. According to Global Market Insights, Inc., “Chelating Agents market is poised to exceed a revenue of USD 5 billion by 2024, with a CAGR of more than 3% over the period of 2016-2024.”
Europe Chelating Agents Market size, by application, 2013 - 2024 (USD Million)
Water treatment is another prominent sector where chelating agents industry will observe a significant demand in the years ahead. With some of the renowned regulatory bodies such as ASTM, EPA, EEA, NSF involved in waste water treatment, the product demand is expected to surge substantially in the years to come.
Furthermore, chelating agents industry will significantly expand owing to its application in pulp & paper industry. Increasing demand for recycled paper products will stimulate the use of chelating agents in applications such as chemical pulping, mechanical pulp bleaching, control scaling of the surface, etc. Chelating agents market from the pulp & paper industry accounted for more than USD 1 billion and is foreseen to record a significant growth over the coming seven years.
Apart from this, extensive applications in consumer products, household & industrial cleaning, and agrochemicals will further add to chelating agents market revenue in the coming years. Rise in global food consumption has led to growing demand for fertilizers and agrochemicals for increasing productivity, which in turn has generated a greater demand for these agents. Chelating agents market size in agrochemical applications is anticipated to register a CAGR of 4% over the period of 2016-2024.
On the product front, chelating agents are segmented into aminopolycarboxylic acid (APCA), sodium gluconate, and organophosphates. APCA market is set to witness a growth rate of 3.5% from 2016-2024, owing to its ability to be easily engineered according to specific requirements. Sodium gluconate is another segment foreseen to observe fast-paced growth due to its rising popularity as an eco-friendly and biodegradable product.
Considering the regional landscape, Europe chelating agents market generated a revenue of over USD 850 million in 2015 and will register a CAGR of more than 3% over the period of 2016 to 2024, owing to the huge regional industrial base of paper and pulp industry, which requires chelating agents on a large scale.
In 2015, Asia Pacific accounted for 40% of the global chelating agents market landscape and is anticipated to exhibit around 4% CAGR over the coming seven years. The growth can be attributed to the products’ surging need across the agrochemical and paper industries. Moreover, stringent government norms pertaining to industrial waste will also influence the chelating agents market growth across APAC. India, China, and Japan will be the prominent regional revenue contributors.
Key players in the chelating agents industry include Mitsubishi Rayon, EMD Millipore, AkzoNobel, Archer Daniels Midland (ADM) Company, BASF SE, Tate & Lyle, Lanxess, The Dow Chemical Company, Sigma-Aldrich, Cargill Inc, AVA Chemicals, Kemira Oyj, Shandong IRO Chelating Chemical Co., Ltd., Dabeer SA, and Nagase ChemteX Corporation.
