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Asia Pacific Chelating Agents Market Size 2019 In-Depth Analysis Of Industry Growth Trends & Forecast Up To 2024

Author : Ronak Bora | Published Date : 2019-07-05 

Asia Pacific is anticipated to occupy the largest share of chelating agents market with growth rate of around 4% CAGR during the forecast period. Presence of many pulp & paper industries, rapid population growth and heightened industrialization will be the contributing factors for the regional industries growth. It is estimated that North America and Europe together will occupy about 40% of total market. North America will likely generate revenue exceeding USD 1 million in 2024 whereas Europe is anticipated to witness growth of around 3.3% CAGR.

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.

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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.

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.

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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.

 

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

 

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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