Chelating Agents Market – Competitive Analysis
Leading chemical companies are engaged in manufacturing of Chelating Chemicals. Owing to the stringent regulations on chelating agents., the leaders in the market are focusing on invention of new bio-based and efficient chelating agents for various end-use industries. however, the many manufacturers ion Europe are refraining from the production of toxic chelating agents that are facing ban in European Union and U.S. market.
Industry/ Innovation/ Related News
Aug 2015: BASF SE, aglobal leader in chemical industry is investing in expansion of production capacity of its bio degradable chelating agent product, ‘Trilon’. The production capacity for chelating agents will be 170,000 metric tonnes. The product is a high performance alternative for phosphate based chelating agent used in cleaning industry. The market leader has significantly stimulated chelqating agents market. Markwet followers are antcipated to invest in such development, in order to gain significant share in the global market.
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Sept 2017: AkzoNobel, a leading global paints & coatings company partnered with Itaconix to develop bio –based chelating agents. The companies are in application agreement to evaluate and develop innovative bio-based chelates for the home & industrial cleaning industry. This was another development by market leaders towards developing a sustainable product for cleaning industry and signifies the trend towards biodegradibillity in chelating agents market.
Chelatiing Agent Market Overview:
Global Chelating Agents or Chelates Market demand is driven by increasing demand in various end -use industries. The end-use industries driving the global demand includes, pulp & paper, agrochemical, and home care & institutional cleaning chemicals industry. Among these industries, pulp & paper is the most prominent and accounts for prominent share in the overall consumption. Chelating Agents are used for bleaching pulp to enhance the brightness of papers. Although printing papers demand is declining in some regions, increasing demand for tissues and container board is antcipated to boost the overall pulp & paper industry. Growing manufacturing & packaging industry across the globe is boosting the pulp & consumption across the globe. The global production of paper & paper board is growing at a CAGR of 2.2% year on year. Being prominent end-use industry of Chelating Agent, the global paper & paper board production is expected to drive the Global Chelating Agents Market.
Moreover, increasing crop production owinng to growing world food demand will spur market growth. Chelating Agents are used in soil application, in order to provide nutrition for increasing productivity of the soil. Growing focus on developing biodegardable chelates has created new opportunities for cheklating agents in house hold & institutional cleaning market. Global cleaning chemicals manufacturers are focusing on providing sustainable solution to its consumers.
For instance, global chemical leader BASF SE has developed eco-friendly chealting agents for its application in cleaning industry. The new product developed by BASF SE ws approved by Environmental protection Agency. In addition to that, some of the leading chemical companies are developing bio-based chelateds for detergents.
Thus development of biodegradable chelating agents will boost application in institutional & home cleaning chemicals industry. According to MRFR, the global industrial & institutional chemical industry is projected to be valued at USD 50.24 billion in 2020 from USD 39 billion in 2015.
On the negative side, environmental concerns are estimated to have serious impact on the Global Chelating Agents Market. Certain chelating agents are subject to ban in European and North America market, owing to their non degradability and hazardous health effects. Some of the manufacturers are voulntarily refraining from the production. For instance, Sodium Tri Polyphosphate is banned by European Union and in Cnada & U.S. markets. The demand for such chemicals is declining in European & North America markets.
Geographically, Asia-Pacific is estimated to be the largest market acounting for largest value share in the Global Chelating Agent Market. The Asia-pacific market share is attributed to the high cleaning chemical, and pulp & paper production in China. India is estimated to be the fastest growing market after China in Asia-Pacific. Asia-Pacific market is followed by North America and Europe.
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