Global Chelating Agents Market is expected to reach USD 5.17 billion by 2024. Chelating agents are also termed as sequestering, chelants or chelators agents; which are chemical compounds that react with metal ions to form water-soluble, stable metal complexes. Its molecules may form several bonds to a single metal ion. It is exclusively used for corrosion control, in medicines, water treatment. The chelating agent market is estimated to grow at a significant CAGR of 3.1% over the forecast period as the scope and its applications are rising enormously across the globe.
The factors that are playing a major role in the growth of chelating agents market are rising awareness regarding water treatment, growing use of biodegradable chelating agents, and high demand from end users like cleaners & detergents. However, ecotoxicological risk regarding conventional chelating agents may restrain overall market growth in the years to come. Chelating agent market is segmented based on type, application, and region.
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Phosphates & phosphonates, aminopolycarboxylate, sodium gluconate, and the other types could be explored in chelating agents in the forecast period. The other sector comprises N-(2-Hydroxyethyl) ethylenediaminetetraacetic acid (HEDTA), zeolites, and biodegradable chelating agents. Aminopolycarboxylate sector accounted for the substantial market share of chelating agents and is estimated to continue its dominance in the years to come. The reason could be high demand from several industrial applications. In addition, phosphates & phosphonates sector is estimated to grow at the fastest pace in the years to come.
The market may be categorized based on applications like food & beverage, cleaners, pharmaceutical, water treatment, personal care, pulp & paper, agrochemicals, and others. Pulp & paper sector accounted for the significant market share of chelating agents and is estimated to lead the overall market in the years to come. The reason could be the growing demand for packaging, papers for writing, and printing.
Globally, Asia Pacific accounted for the substantial market share of chelating agents and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be the presence of several paper and pulp industries and high economic growth rate. The developing countries like India and China are the major consumers of chelating agents in this region. The reason could be rising consciousness among consumers regarding hygiene.
Europe and North America are also estimated to have a positive influence on future growth. North America is the second largest region with significant market share. However, Europe is estimated to grow at the highest CAGR in the forecast period. The key players of chelating agents industry are AkzoNobel N.V., Archer Daniels Midland Company, Cargill Incorporated, Sigma-Aldrich Corporation, BASF SE, and The Dow Chemical Company. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.
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Market Segment:
Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 – 2024)
• Sodium gluconate
• Organphosphonates
• Aminopolycarboxylate
• Others
Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 – 2024)
• Pulp & paper
• Household & industrial cleaning
• Agrochemicals
• Water treatment
• Chemical processing
• Consumer products
• Pharmaceuticals
• Others
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 – 2024)
• North America
• U.S.
• Canada
• Mexico
• Europe
• Spain
• Germany
• France
• UK
• Netherlands
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• Rest of Asia Pacific
• Latin America
• Brazil
• MEA
Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/chemicals-and-materials
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