Portland, OR, Nov. 16, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global sulfamic acid market generated $375 million in 2021, and is projected to reach $1.4 billion by 2031, growing at a CAGR of 15% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape, and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners, and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $375 million |
| Market Size in 2031 | $1.4 billion |
| CAGR | 15% |
| No. of Pages in Report | 250 |
| Segments Covered | Form, Application, and Region. |
| Drivers | Surging demand for sulfamic acid as a cleaning majorly for industrial purpose. |
| Opportunities | Surge in application of sulfamic acid for manufacturing home-based cleaning solutions, pesticides, and herbicides. |
| Restraints | Strict government laws towards use of sulfamic acid. |
| Growing concerns related to occurrence of cancer due to consistent use of sulfamic acid. |
COVID-19 Scenario:
- The outbreak of the COVID-19 pandemic had negatively impacted the growth of the global sulfamic acid market, owing to reduction in production of chemicals such as sulfamic acid.
- During the COVID-19 pandemic, there was decline in fresh material supply due to lockdown.
- However, the increased demand for toilet cleansers, detergents, and other cleaning supplies during the pandemic is anticipated to boost market growth post the COVID-19 pandemic.
The report offers a detailed segmentation of the global sulfamic acid market based on form, application, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on the fastest-growing segments and highest revenue generation that is mentioned in the report.
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Based on form, the powder segment held the major market share in 2021, holding more than half of the global sulfamic acid market share, and is expected to maintain its leadership status during the forecast period. Moreover, the powder segment, is expected to cite the fastest CAGR of 15.0% during the forecast period. The report also includes segments such as liquid segment.
In terms of application, the metal finishing segment held the largest market share in 2021, accounting for nearly one-thirds of the global sulfamic acid market share, and is expected to maintain its leadership status during the forecast period. Nevertheless, the others segment, is expected to cite the highest CAGR of 16.0% during the forecast period. The report also contents segment such as dyes & pigments, paper & pulp, and plastic.
Region-wise, the Asia-Pacific region held the major market share in 2021, grabbing nearly two-fifths of the global sulfamic acid market share. Furthermore, the Asia-Pacific market is slated to dominate the global market share during the forecast period. However, the LAMEA region is expected to cite the fastest CAGR of 16.0% during the forecast period. The report also analyses other regions such as Europe and North America.
The key players analyzed in the global sulfamic acid market report include Nissan Chemical Corporation, ShanDong Mingda Chemical Technology Co., Ltd, BASF SE, AkzoNobel N.V., DuPont, Jiangsu Yazhong, Palm Commodities, Yantai Sanding, Raviraj Group, and Shree Sulphamic Chemicals.
The report analyzes these key players in the global sulfamic acid market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance, and operating segments by prominent players in the market.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
