New York, USA, Aug. 09, 2022 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global sulfamic acid market is envisioned to generate a revenue of $7,037.3 million and grow at a CAGR of 3.4% over the estimated timeframe from 2019 to 2026.
As per our analysts, the higher shelf life of sulfamic acid and its effectiveness in descaling are the major factors that are expected to fortify the growth of the sulfamic acid market during the analysis period. Moreover, sulfamic acid does not require any system for dosing and it offers complete chemical cleaning, which is expected to boost the growth of the market over the forecast period. However, the diseases caused by sulfamic acid such as chemical burns may impede the growth of the market throughout the estimated period.
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Segments of the Sulfamic Acid Market
The report has divided the market into segments based on form, application, and region.
Form: Liquid Sub-Segment to be Most Profitable
The liquid sub-segment is projected to generate a revenue of $3,099.0 million during the analysis timeframe. This is mainly because liquid sulfamic acid is widely used for the maintenance and cleaning of water systems. Moreover, the increasing use of liquid sulfamic acids for removing iron and precipitated hardness deposits by workers at water systems is predicted to augment the growth of the market sub-segment during the forecast period.
Application: Metal Finishing Sub-Segment to be Most Productive
The metal finishing sub-segment is predicted to garner a revenue of $2,076.0 million over the analysis period. The increasing use of sulfamic acids in the metal finishing segment due to its less corrosive nature is further expected to propel the growth of the market sub-segment during the forecast period.
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Region: Asia-Pacific Region to Hold the Largest Share of the Market
The Asia-Pacific region of the sulfamic acid market is predicted to grow at a CAGR of 3.2% throughout the analysis period. The increasing adoption of cosmetics and the growing concerns about the purification process of water in this region is expected to drive the regional growth of the market over the forecast period.
Key Players of the Market
The major players of the sulfamic acid market include
- DuPont
- AkzoNobel N.V.
- Jiangsu Yazhong
- BASF SE
- Palm Commodities
- Mingda Chemical
- Yantai Sanding
- Nissan Chemical
- Jiangsu Yazhong
These players are widely working on the development of new business strategies such as mergers and acquisitions, partnerships and collaborations, and product development to obtain a leading position in the global industry. Inquire here to buy the full report
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Further, the report also summarizes other important aspects including SWOT analysis, the financial performance of the key players, product portfolio, and the latest strategic development.
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More about Sulfamic Acid Market:
- Sulfamic Acid: A Cleaning Agent Used in Various Industries
- Wide-Rage Usage of Sulfamic Acid in Various Industries to Escalate the Growth of Global Sulfamic Acid Market
