“Global Sulfamic Acid Market to reach a market value of USD 1.2 Billion by 2030 growing at a CAGR of 14.6%”
The Global Sulfamic Acid Market size is expected to reach $1.2 billion by 2030, rising at a market growth of 14.6% CAGR during the forecast period. In the year 2022, the market attained a volume of 4,937.9 Hundred Tonnes, experiencing a growth of 13.8% (2019-2022).
The Asia Pacific region, particularly countries like China and India, has witnessed rapid industrialization. Therefore, the Asia Pacific segment captured $162.9 million revenue in the market in 2022. Industries such as cleaning, water treatment, and metal processing, where this is used, have experienced increased demand due to industrial growth. The diverse industrial base in the Asia Pacific has led to an expansion in the applications of sulfamic acid. Industries ranging from textiles to chemicals have contributed to its growing demand in the region.
Sulfamic acid serves as a valuable nitrogen source in the production of agrochemicals and fertilizers. An essential component of plant growth, nitrogen aids in synthesizing enzymes, proteins, and chlorophyll. It's contribution as a nitrogen source enhances plant nutrition, fostering healthier and more robust crop development.
Additionally, it's efficacy in descaling applications is a pivotal factor driving its demand in the water treatment sector. The chemical's ability to dissolve and remove scale deposits from industrial equipment, pipelines, and water-carrying systems ensures the efficient operation of water treatment facilities. Thus, these aspects will propel its demand in the coming years.
However, the production process relies heavily on urea and sulfuric acid's availability and cost dynamics, which are primary raw materials. Any disruptions or fluctuations in the supply chain of these key components directly influence the manufacturing process. Urea, a crucial precursor in synthesis, is susceptible to market fluctuations influenced by agricultural demand, global production levels, and geopolitical events.
Based on form, the market is segmented into powder and liquid. In 2022, the liquid segment garnered 41.5% revenue share in the market. Liquid forms of sulfamic acid may offer versatility in applications compared to solid forms. Formulating liquid solutions suits it for various industrial processes, including cleaning, descaling, and water treatment. Liquid formulations can be easier to handle and dilute, providing convenience for end-users. This functionality is particularly beneficial in situations that demand precise concentration control.
On the basis of application, the market is divided into metal finishing, dyes & pigments, paper & pulp, plastic, and others. The metal finishing segment recorded 35.5% revenue share in the market in 2022. Sulfamic acid is widely used for descaling and cleaning metal surfaces. Removing scales, rust, and oxides is essential in metal finishing processes to achieve a clean and smooth surface. It’s effectiveness in descaling contributes to its adoption in metal cleaning applications.
Free Valuable Insights: Global Sulfamic Acid Market size to reach USD 1.2 billion by 2030
By region, the market is segmented into North America, Europe, Asia Pacific, and LAMEA. In 2022, the Europe segment acquired 24.9% revenue share in the market. Europe has diverse industrial landscape includes chemicals, pharmaceuticals, water treatment, and cleaning. This finds applications in cleaning agents, descaling, and metal processing, contributing to the market's growth as these industries expand or modernize. Therefore, the segment will expand rapidly in the upcoming years.
Report Attribute | Details |
---|---|
Market size value in 2022 | USD 421.6 Million |
Market size forecast in 2030 | USD 1.2 Billion |
Base Year | 2022 |
Historical Period | 2019 to 2021 |
Forecast Period | 2023 to 2030 |
Revenue Growth Rate | CAGR of 14.6% from 2023 to 2030 |
Quantitative Data | Volume in Hundred Tonnes, Revenue in USD Billion, and CAGR from 2019 to 2030 |
Number of Pages | 253 |
Number of Tables | 530 |
Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
Segments covered | Form, Application, Region |
Country scope |
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Companies Included | Shandong Mingda Chemical Technology Co., Ltd., BASF SE, Laizhou Jinxing Chemical Co. Ltd., DuPont de Nemours, Inc., Brenntag SE, Laizhou Guangcheng Chemical Co., Ltd, Nissan Chemical Corporation, Akzo Nobel N.V., Yantai Sanding Chemical Co., Ltd., Honeywell International, Inc. |
By Form (Volume, Hundred Tonnes, USD Billion, 2019-2030)
By Application (Volume, Hundred Tonnes, USD Billion, 2019-2030)
By Geography (Volume, Hundred Tonnes, USD Billion, 2019-2030)
The Market size is projected to reach USD 1.2 billion by 2030.
Growing adoption in agrochemicals and fertilizers are driving the Market in coming years, however, Concerns over the price and availability of raw materials restraints the growth of the Market.
Shandong Mingda Chemical Technology Co., Ltd., BASF SE, Laizhou Jinxing Chemical Co. Ltd., DuPont de Nemours, Inc., Brenntag SE, Laizhou Guangcheng Chemical Co., Ltd, Nissan Chemical Corporation, Akzo Nobel N.V., Yantai Sanding Chemical Co., Ltd., Honeywell International, Inc.
In the year 2022, the market attained a volume of 4,937.9 Hundred Tonnes, experiencing a growth of 13.8% (2019-2022).
The Powder segment is generating highest revenue in the Market by Form in 2022; there by, achieving a market value of $719.1 Million by 2030.
The Asia Pacific region dominated the Market by Region in 2022, and would continue to be a dominant market till 2030; there by, achieving a market value of $488.8 Million by 2030.
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