Chelating Agents Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Chelating Agents Market
The Chelating Agents Market size was valued at USD 47.57billion in 2023, and the market is now projected to grow to 63.96 USD billion by 2032, exhibiting a CAGR of 4.4% during the forecast period of 2023-2030.
This has affected the overall supply and demand chains of the particular market. As a result of the government's lockdown and other steps to stop the coronavirus from spreading, all supply activities were postponed, which decreased the amount of product related to this domain. The need for sequestering agents has grown slowly as a result of COVID-19 and the lockdowns that followed in many nations worldwide. This has led to a reduction in production as a result of the global pulp and paper market's decrease. Inevitably, the pulp and paper industry has been directly impacted by the COVID-19 pandemic's profound effects on industrial production and the global economy. These factors affected the Chelating Agents Market growth.
This is the major factor attributing the growth of this particular market. This factor is majorly involved in taking the revenue numbers above the skies and soaring greater heights and also the sales and demands have been proliferation and increased its value to greater extent. A lot of growth has been observed in the recent times because of this particular factor that contributed and also acted as a catalyst to the overall development of the product market. Green alternative chelators are becoming more and more popular, however amino polycarboxylic acid chelators are still the most commonly used sequestering agents. This is because these traditional chelates of hazardous metals raise environmental issues such toxicity, mobilization, and non-biodegradability. With consumers switching to greener products and the ongoing depletion of petroleum supplies, it is imperative to find alternative greener sequestering agents. Because of their low nitrogen content and strong complex-forming ability, these environmentally friendly substitutes can be used in place of traditional chelates to lessen the nitrogen burden. This has ultimately outraged the sales and demand for this particular market growth and prosperity. These particular growth driving factors have been recorded to attribute the Chelating Agents Market share.
A latest trend has been witnessed to proliferate the market growth. This particular trend has been recorded to be the most profiting trends that have been upgraded to augment the overall market growth. According to the online ingredient dictionary of The Personal Care Product Council, wINCI, sequestering agents are substances that deactivate metallic ions to prevent their negative effects on the stability or appearance of cosmetic products. Metallic impurities can originate from a variety of sources, including the product's basic materials, the water system, and minute extractions from metallic storage containers and equipment, particularly naturally occurring ones. A lot of specifications have been made to this particular product which has benefited the market growth. This specific trend has influenced the market growth so much so that the revenue and share numbers of this particular product is touching the skies and soaring over.
Comprehensive Analysis of Chelating Agents Market
The segmentation of this particular market has been divided and then further subdivided into various categories. The market for chelating agents is divided into several product categories, including ethylenediaminetetraacetic acid (EDTA), glutamic acid-n, n-diacetic acid (GLDA), ethylenediamine disuccinic acid (EDDS), sodium gluconate, organophosphonates, ethylenediaminetetraacetic acid (DTPA) & hydroxyethylethylenediaminetriacetic acid (HEDTA), glutamic acid-n, n-diacetic acid (GLDA), iminodisuccinic acid (IDS) & methylglycinediacetic acid (MGDA), nitrilotriacetic acid (NTA), and glycoheptonates. Application-wise, the market is divided into the following segments: consumer goods, textiles, metals, agrochemicals, water treatment, pulp and paper, domestic, institutional, and industrial cleaning products, and more.
This particular region has augmented a lot in the past few years in this particular product market. This specific region held the biggest revenue share. It is projected that over the forecast period, This particular region is actually growing a lot and is anticipated to augment more over the years. Asia Pacific held the largest market share for chelating agents and is probably going to continue to do so for the foreseeable future. Urbanization, industrialization, and population increase are the main factors propelling the market in the area. Growing populations and greater awareness are predicted to lead to significant advancements in water treatment systems as well as cleaning and detergent uses in developing nations like China, India, Indonesia, and others. This particular region has experienced immense proliferation in the market shares and has attributed to the global market revenue.
Global markets are fiercely competitive and highly fragmented. Due to their creative packaging solutions, a few group of large market companies hold a fair amount of market share. Some of the major Companies includes Akzo Nobel N.V. (Netherlands), ADM (U.S.), BASF SE (Germany), Dow Chemical Company (U.S.), and Mitsubishi Chemical Corporation ( Japan).
In June 2021, This particular company has attributed the market growth in terms of revenue and shares system. In order to develop and launch Drive-MRT (Molecular RadioTherapy), which offers incorporation of the entire Theranostics, Oncodesign, a precision medicine-focused biopharma group, announced a strategic partnership with Covalab, a developer of custom antibodies, CheMatech, a European leader in the synthesis and supply of chelating agents, and ABX-CRO, a pharmaceutical company related to oncology. This particular development and investment the global market has been recorded to be a boon for the market growth.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2016-2027
Base Year 2019
Forecast Period 2020-2027
Historical Period 2016-2018
Unit Value (USD Million) and Volume (Tons)
Segmentation Product Type; Application; and Geography
By Product Type Sodium Gluconate
Organophosphonates
EDTA, DTPA & HEDTA
EDDS, GLDA, IDS & MGDA
Nitrilotriacetic Acid (NTA)
Glucoheptonates
By Application Pulp & Paper
Household, Institutional & Industrial Cleaning Product
Chemical Processing
Agrochemicals
Water Treatment
Photo Application
Consumer Product
Textile
Metal
Others
By Geography North America
By Product Type
By Application
By Country
The U.S. (By Application)
Canada (By Application)
Europe
By Product Type
By Application
By Country
Germany (By Application)
The UK (By Application)
France (By Application)
Italy (By Application)
Spain (By Application)
Russia & CIS (By Application)
Rest of Europe (By Application)
Asia Pacific
By Product Type
By Application
By Country
China (By Application)
Japan (By Application)
India (By Application)
ASEAN (By Application)
Rest of Asia Pacific (By Application)
Latin America
By Product Type
By Application
By Country
Brazil (By Application)
Mexico (By Application)
Rest of Latin America (By Application)
The Middle East & Africa
By Product Type
By Application
By Country
GCC (By Application)
South Africa (By Application)
Rest of the Middle East & Africa (By Application)