Sulfamic Acid Market: Introduction
Transparency Market Research delivers key insights on the global sulfamic acid market. In terms of revenue, the global sulfamic acid market is estimated to expand at a CAGR of 5.3% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global sulfamic acid market.
The global sulfamic acid market is broadly affected by several factors, including usage of sulfamic acid in various applications such as industrial equipment & domestic appliances, dyes & pigments, pulp & paper, acid cleaning, electroplating & electrorefining, and others. The global demand for decorative and industrial paints is expected to increase in the near future due to the growth in housing construction and infrastructure development. This is anticipated to fuel the demand for sulfamic acid in the near future. The demand for food is expected to rise during the forecast period. This has led to an increase in awareness about ready-to-eat processed food without any preservatives. The demand for such products has been rising significantly in developing countries. This is also estimated to boost the sulfamic acid market during the forecast period.
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Sulfamic Acid Market: Dynamics
Enhanced chemical denitrification process is used as an alternative treatment of nitrate-rich wastewater, which cannot be treated using conventional biological methods. Nitrite reductants are added to accelerate denitrification in order to reduce the conversion to ammonia. Furthermore, chemical nitrate denitrification conducted using sulfamic acid is an effective alternative treatment protocol for nitrate-rich wastewater.
Sulfamic acid plays an important role in the wastewater treatment industry due to its excellent propellant characteristics. This is a key factor anticipated to boost the demand for sulfamic acid during the forecast period.
Rapid growth in industrialization is a major factor expected to propel the demand for wastewater treatment. This is anticipated to drive the global sulfamic acid market during the forecast period. The growth in ejection of wastewater from different industries and stringent government rules and regulations associated with recycling of wastewater are other factors projected to boost the demand for sulfamic acid in the wastewater treatment market, thereby augmenting the global sulfamic acid market in terms of value.
Increase in electricity generation activities (that require clean water), rise in demand for electricity across the globe, and growth in population are also augmenting the demand for wastewater treatment. This, in turn, is likely to propel the demand for sulfamic acid during the forecast period. Manufacturers focus on dyes & pigments applications, as the share held by this application in the sulfamic acid market is likely to increase during the forecast period.
Sulfamic Acid Market: Prominent Regions
Asia Pacific dominates the global sulfamic acid market. The market in the region is anticipated to expand at a CAGR of more than 5.3% during the forecast period. Increase in demand for sulfamic acid in various applications such as dyes & pigments, acid cleaning, and paper & pulp is driving the sulfamic acid market in Asia pacific. China is a key country of the sulfamic acid market in Asia Pacific. It held major share of the sulfamic acid market in Asia Pacific in 2020. The country is estimated to maintain its dominant position in the market in the region during the forecast period.
Europe is also a prominent region of the global sulfamic acid market. Rest of Europe led the sulfamic acid market in Europe in 2020, led by the presence of well-established application industries such as paper & pulp, electroplating & electrorefining, and chlorine stabilization. Sulfamic acid is prominently used in these application industries.
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Sulfamic Acid Market: Key Players
The global sulfamic acid market is consolidated with the presence of key players. Prominent players operating in the global sulfamic acid market include Nissan Chemical Industries, Ltd, Brenntag NV, Redox Pty Ltd., Spectrum Chemical Manufacturing Corp., Palm Commodities International, Timuraya, Laizhou Guangcheng Chemical Co., Ltd., ACURO ORGANICS LIMITED, Nuchem Ltd., Shree Sulphamic Chemicals, Raviraj Group, and Tangshan Sanding Chemical Co., Ltd.
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