Market Research Future (MRFR) has published on the “Global Sulfamic Acid Market”.
The sulfamic acid market is estimated to register a CAGR of 5.20% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the sulfamic acid market— DI-CORP, Palm Commodities International, Raviraj Chemicals, Vedic Orgo LLP, Nissan Chemical Corporation, Donau ChemieAcuro Organics Limited, Shandong Mingda Chemical Technology Co., Ltd, LaizhouZhongda Chemicals Co., Ltd., and others.
Sulfamic Acid Market Highlights
The sulfamic acid market is accounted to register a CAGR of 5.20% during the forecast period and is estimated to reach USD 245.87 billion by 2032.
The sulfamic acid market is driven by its diverse industrial applications, including cleaning agents, water treatment, and chemical synthesis. However, challenges such as fluctuating raw material prices and stringent environmental regulations restrain market growth. Opportunities lie in the growing demand for sulfamic acid in emerging economies and its increasing use in applications such as metal processing and pharmaceuticals. Challenges include competition from alternative products and the need for sustainable manufacturing practices to address environmental concerns.
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Segment Analysis
The sulfamic acid market has been segmented based on form and application.
On the basis of form, the market is segmented into crystal, powder, and liquid. The powder segment was attributed to holding the largest market share in 2022 due to its versatility and ease of handling in various applications. Sulfamic acid powder is widely preferred for its convenience in storage, transportation, and accurate dosing, contributing to the dominance of this category. Conversely, the fastest-growing form category is liquid, experiencing rapid expansion driven by the increasing demand for liquid sulfamic acid in specific industrial processes.
Based on application, the sulfamic acid market has been segmented into industrial equipment & domestic appliances, dyes & pigments, paper & pulp, acid cleaning, electroplating & electrorefining, sulfation & sulfamation, chlorine stabilization, and others. The acid cleaning segment was expected to hold the largest market share in 2022 due to the widespread use of sulfamic acid for cleaning and descaling purposes in various industrial settings. Conversely, the fastest-growing application category is chlorine stabilization, which is experiencing rapid expansion as sulfamic acid plays a crucial role in stabilizing chlorine levels in water treatment processes.
Regional Analysis
The sulfamic acid market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of the US and Canada. The Europe sulfamic acid market comprises Germany, France, the UK, Italy, Spain, and the rest of Europe. The sulfamic acid market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World sulfamic acid market comprises the Middle East, Africa, and Latin America.
The largest market share for sulfamic acid was maintained by the North American regional sector. This increase is attributed to well-established industrial sectors, including chemical manufacturing, water treatment, and cleaning industries, which are major consumers of sulfamic acid. Additionally, stringent regulations regarding water treatment and environmental protection in North America drive the demand for sulfamic acid as a versatile and effective cleaning and descaling agent.
Moreover, the Europe market has been persistently growing over the forecast period. The demand for sulfamic acid is driven by stringent environmental regulations in Europe, encouraging the adoption of sustainable and eco-friendly cleaning and descaling agents like sulfamic acid. Moreover, ongoing investments in research and development within the region foster innovation and the development of new applications for sulfamic acid, further fueling its growth in the market.
Additionally, Asia Pacific is expected to witness the fastest growth in the sulfamic acid market due to several factors. Firstly, rapid industrialization and urbanization in countries like China, India, and Southeast Asian nations are driving the demand for sulfamic acid across various industries, including chemical manufacturing, water treatment, and construction.
Furthermore, the rest of the world's sulfamic acid market is divided into the Middle East, Africa, and Latin America. This growth is attributed to the economic landscapes, regulatory frameworks, and industrial activities, leading to segmented market dynamics. Additionally, differences in infrastructure development, technological advancements, and consumer preferences contribute to the fragmentation of the sulfamic acid market in these regions.
Key Findings of the Study
- The sulfamic acid market is expected to reach USD 245.87 billion by 2032, at a CAGR of 5.20% during the forecast period.
- The Asia-Pacific region accounted for the fastest-growing global market due to rapid industrialization and urbanization.
- Based on application, the acid cleaning segment was attributed to holding the largest market in 2022, with an approximate market share of 40–55%.
- DI-CORP, Palm Commodities International, Raviraj Chemicals, Vedic Orgo LLP, Nissan Chemical Corporation, Donau ChemieAcuro Organics Limited, Shandong Mingda Chemical Technology Co., Ltd, LaizhouZhongda Chemicals Co., Ltd., and others are the key market players.
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Companies Covered | 15 |
Pages | 128 |
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