Global Sulfamic Acid Market Overview
The key driver impacting the sulfamic acid market is a rising demand for personal care and the cosmetics industry globally. for instance, according to Cosmetic Executive Women, in 2019, the global cosmetics market was estimated at $532 billion. the skincare sales jumped to $1.4 billion, with constant growth estimated for 2020. Online sales of cosmetics grew by 30.5% in 2019. as per the Med AlertHelp, the woman spends on an average around $3,000 annually on personal looks. the anti-aging segment is anticipated to grow at a rate of 3.8% from 2020 to 2027. moreover, the growing awareness about the cleaning of pump discharge pipes and distribution lines when biological, chemical, or physical plugging has occurred is estimated to be a significant factor contributing to market growth. Whereas with regards to volume,the market was calculated XX Metric KiloTons in 2020 and foreseen to grow with a CAGR of XX% during 2021-2027.
According to Value Market Research, the global sulfamic acid market size was valued at around USD 5,000 million in 2020 and is projected to grow at a CAGR of about 5.5% during the forecast period of 2021 to 2027.
The growing use of sulphamic acid in various industries due to several advantages is estimated to augment sulfamic acid demand in the forecast period. for instance, it has a high shelf life, effective in descaling, provides a complete cleaning, and does not require post descaling manual cleaning, and it protects mild steel, stainless steel, copper, and brass from acid attack. however, the health-related issues, if used for an elongated period and government regulations, may hamper the sulfamic acid market in the long run. also, growing health-related concerns such as it cause cancer-related and cellular level changes negatively impact the forecast period's market growth. the current industry trends, growing usage of sulphamic acid in place of hydrochloric acid, and expanding its application scope are expected to provide market players with new market opportunities.
The sulfamic acid market is vast, with many local and global players. the key leaders follow different strategies to advance their market position, such as contracts, amalgamation, getting biologics license from regulatory authorities(FDA), extending product portfolio, acquisitions, and product upgrades to raise their market share across the globe. the major players in the report are Brenntag NV, Nissan Chemical Corporation, Raviraj Group, Redox Pty Ltd., VWR International, NuChem, Thermo Fisher Scientific Inc., Tangshan Sanding Chemical Co., Ltd., Laizhou Guangcheng Chemical Co., Ltd., Spectrum Chemical Manufacturing Corp., Timuraya, Parchem fine & specialty chemicals, ACURO ORGANICS LIMITED, Palm Commodities International, and Shree Sulphamic Chemicals.
In this research report, the sulfamic acid market is segmented by product type, applications, and region.
Analysis by Product Type:
By product type, the report is categorized into crystal, powder, and liquid. The sulphamic acid powder segment dominates the product type segment with over 50% share in 2020. It is majorly adopted due to its various advantages, such as low cost, toughness, and high chemical resistance. Moreover, the rise in demand in hulls and decks of boats, land transport components, molding, wind blade manufacturing, etc., and its usage in various other applications such as buttons, adhesives, composites, castings, and encapsulation is the driving demand for sulphamic acid powder in the forecast period.
Analysis by Applications:
By applications, the report is categorized into industrial equipment & domestic appliances (descaling), dyes & pigments, paper & pulp, acid cleaning, metal finishing, electroplating & electro-refining, sulfation & sulfamation, chlorine stabilization, and others (including chemicals and swimming pools). The metal finishing segment dominates the application segment with over 25% share in 2020. It is due to the high adoption of sulfamic acid in metal finishing industries for the cleaning and maintenance of equipment. Moreover, the growing industrialization and great demand from end-user industries contribute to the high market demand for the application of metal finishing across industries in the forecast period.
Analysis by Region:
In the regional outlook of the global sulfamic acid market, the Asia Pacific region dominates with a 30% market share during the forecast period. It is due to the increasing demand from rapidly expanding end-use industries, such as an increase in consumption of sulfamic acid products in paper packaging, plastics, pharmaceutical, and pigment applications across Asia pacific nations. Moreover, the strong manufacturing base in China, the rising adoption of cosmetics, and growing concerns about the purification process of water contribute to the development of the sulfamic acid market in the Asia Pacific.
Market Segmentation covered in the Report:
By Product Type
- Industrial Equipment & Domestic Appliances (Descaling)
- Dyes & Pigments
- Paper & Pulp
- Metal finishing
- Acid Cleaning
- Electroplating & Electro-refining
- Sulfation & Sulfamation
- Chlorine Stabilization
- Others (including Chemicals and Swimming Pools)
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.