(MENAFN- iCrowdNewsWire) The global chelating agents market is expected to reach USD 7.87 Billion by 2028, according to a new report by Reports and Data. The market research report sheds light on the key regional markets including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. It thus ascertains the product demand & supply ratios and revenue share of each regional market. Furthermore, the report draws readers' attention to the intensely competitive scenario of the Chelating Agents industry and mentions some of the strategic developments such as mergers & acquisitions, joint ventures, corporate deals, and partnerships & collaborations taking place in the industry. SWOT analysis and Porter's Five Analysis are among the other key components of this report that highlight the emerging market trends, opportunities, challenges, and threats.
Chelating agents are the most effective means of treatment of heavy metal poisoning. Chelating agents have been found to reduce arsenic poisoning in small animals. These agents bind to arsenic molecules and prevents them from bonding with other molecules and enzymes within the animal/human body. At the same time upon interaction with chelating agents, arsenic is converted into a water-soluble form, which can be removed from the body through excretion.
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Key participants include:
BASF SE, AkzoNobel N.V., Archer Daniels Midland Company, Cargill Inc., The Dow Chemical Company, The Valero Energy Corporation, Mitsubishi Rayon Co. Ltd, Kemira OYJ, Lanxess AG, and Tate & Lyle PLC among others.
The global materials & chemicals industry has gained major momentum over recent years, owing to many favorable factors. Major factors contributing to industry revenue growth include rise in global populace and rapid surge in demand for essential consumer goods including soaps, detergents, personal care & hygiene products, cosmetics, and other consumer products. Other factors driving industry revenue growth are extensive use of raw materials & chemicals in various industries including buildings & construction, agriculture, food & beverage, power & energy, pulp & paper, textile, automotive, and consumer goods industries, rising environmental awareness among consumers worldwide, growing demand for eco-friendly and sustainable materials and chemicals, and rising demand for organic, high-performance chemicals.
Further key findings from the report suggest
Aminopolycarboxylates contributes to the largest market size accounting for more than 45% market share in 2020 and is projected to have a CAGR of 4.4% in the forecast period owing to the production of these synthetic chelating agents on an industrial scale to cater to the demand for a variety of applications. Aminopolycarboxylates are one of the most extensively used chelating agents. These agents form chelants with metal ions that are present in a wide range of domestic products and therefore are used as metal sequestrates in numerous industrial applications.
The demand for sodium gluconate is expected to experience above-average growth rate in the forecast period due to its widespread use in detergents, cosmetic products, and industrial applications.
Pulp & paper industry was leading the market with around 40% of the market share in 2020, in terms of revenue, and is expected to grow at a rate of 4.4% in the forecast period. Increase in demand for graphic and tissue papers is anticipated to supplement the growth of pulp & paper industry. Besides, these chemicals play a fundamental role and are considered as an integral part of the pulp & paper making process. These chelating agents not only improve the effectiveness of hydrosulfite and hydrogen peroxide bleaches, but also reduces the downtimes and cost of bleaching.
The Asia Pacific region accounted for more than 35% of the market share in 2020 and is expected to lead the market throughout the forecast period. This can be attributed to continuous innovations and developments in the textile, and pulp & paper industries in this region.
Developing nations of APAC region including China, India, Japan, Indonesia, and South Korea, are anticipated to display remarkable improvements in the water treatment, cleaning, and detergents application sectors due to the rising population along with an increase in awareness.
In November 2020, the Care Chemicals business of BASF in North America will raise prices on Trilon® chelating agents by 10 percent effective January 1, 2019, or as contracts allow,. The chelating agents affected are EDTA, DTPA, and HEDTA.
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For the purpose of this report, Reports and Data have segmented global chelating agents market on the basis of product type, disposability, application, end-user industry, and region:
Product Type Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)
Sodium Gluconate
Organphosphonate
Aminopolycarboxylate
Others
Disposability Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)
Bio-Degradable
Non-Bio-Degradable
Application Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)
Washing Powder & Detergents
Water Treatment
Household Cleaners
Industrial & Institutional Cleaners
Others
End-User Industry Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)
Pulp & Paper
Agrochemicals
Chemical
Personal Care
Pharmaceutical
Food & Beverages
Others
Regional Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)
North America
Europe
Asia Pacific
Latin America
MEA
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