Chelating agents: Key market research findings
- Industrialization in BRIC countries drives market growth
- The pulp and paper industry accounts for a majority of the market’s revenue
- Key vendors – AkzoNobel, BASF, Dow Chemicals, Kemira, and Tate & Lyle
Technavio’s market research analysts predict the global chelating agents market to grow at a CAGR of more than 4% between 2016 and 2020. The rise in the demand for chelating agents is spurred by increasing industrialization in BRIC (India, China, Brazil, and Russia) countries. Industrialization in these countries is resulting in an increase in the standard of living and production and subsequently the water consumption. The APAC region dominated the global chelating agents market by accounting for more than 37% of the overall market space. Competitive manufacturing costs, increase in production capacity, use of updated technology, and production design are factors augmenting the market for chelating agents in APAC during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the chelating agents segments based on the application.
“The emergence of silybin as a new iron chelating agent is an ongoing trend in the market. Silybin is a flavonolignan, which is extracted from the fruits of Silybum marianum. The compound acts as an iron chelator and exhibits antioxidant properties and radical scavenging abilities. Silybin is a hepatoprotectant, hypocholesterolemic, and cancer protective agent and is used in the treatment of disorders pertaining to lungs, CNS, kidneys, skin, and pancreas,” says Chandrakumar Badala Jaganathan, Lead Analyst, Chemicals & Materials, Technavio Research.
By 2020, the pulp and paper segment will dominate the global market for chelating agents with a share of around 33%. In the paper and pulp industry, chelating agents are used for controlling and removing of scales, increasing the effectiveness of hydrosulfite and hydrogen peroxide bleach, decreasing bleaching costs, and reducing the downtime. Chelating agents are used for bleaching wood pulp, recycled fibers, and other cellulose-based materials. The replacement of chlorine-based bleaches with biodegradable chelating agents such as gluconates is expected to contribute to the growth of the global chelating agents market for the pulp and paper industry over the next four years.
The key vendors in the market include AkzoNobel, BASF, Dow Chemicals, Kemira, and Tate & Lyle. This market is highly competitive with the dominance of regional players who produce chelating agents in minor formulations and sell them at reasonable prices. Most of the manufacturers provide distinguished products that vary on the basis of technology, formulation, and service aspects. Cross-border trade has gained tremendous significance in the market as most of the production capacities of chelating agents are limited to specific regions. Several vendors are also establishing new capacities in the fast-growing markets of China, India, and other Southeast Asian countries to ensure their proximity and ease of access.
A more detailed analysis is available in the Technavio report, Global Chelating Agents Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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