New York, USA, July 27, 2021 (GLOBE NEWSWIRE) -- According to the latest report published by Research Dive, the global sulfamic acid market is expected to witness a rise in revenue from $5,375.7 million in 2018 to over $7,037.3 million by 2026 at a stable CAGR of 3.4% from 2019-2026.
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Market Analysis
Utilized in the process of descaling, sulfamic acid is an element that has an extensive shelf life and can also be easily used. The acid cleans surfaces for rust or limescale. The acid also doesn’t need any method of dosing before use making it a more convenient option. These factors are contributing to the growth of the global sulfamic acid market in the analysis period.
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Being an acid, sulfamic acid is known for its highly corrosive properties. If an individual comes into direct contact with it, their skin could be subjected to severe burns. The vapours are also equally harmful as any contact with sensitive body parts such as the eyes or nose could lead to internal burns as well. It could result in the cornea being damaged leading to permanent blindness or facing severe burn injuries on the lungs as well. These are known to be the prominent limiting factors for the growth of the market.
Segmental Analysis
The market is segregated into multiple segments based on type, end user, and region.
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Liquid Sub-segment Set To Dominate the Market
By type, the liquid sub-segment is expected to witness a robust growth and reach up to $3,099.0 million by 2026 at a CAGR of 3.7% from 2019-2026. The dominance of this sub-segment is mainly because liquid sulfamic acids are mainly effective at removing iron & precipitated hardness deposits. In addition, these acids are highly recommended for use for worker’s safety.
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Dyes & Pigments Sub-segment to Hold the Largest Market Share
By end user, the dyes & pigments sub-segment is projected to account for the largest share in the global market and grow at a CAGR of 4.4% during the forecast period. This is majorly because the sulfamic acid is increasingly used to remove additional nitrides that are used in the diazotization reactions while producing dye & pigments.
Regional Analysis
The Asia-pacific region garnered revenue of $2,580.4 million in 2018 and is expected to grow further at a steady CAGR of 3.2%. The increasing use of cosmetics among people along with the need for better methods of purification of water have added to the growth of the market in the region within the estimated timeframe.
Key Market Players
The report contains a list of notable market players who have been ensuring the constant growth of the market. They are as listed below:
1. Nissan Chemical
2. BASF SE
3. DuPont
4. Palm Commodities
5. Jiangsu Yazhong
6. Mingda Chemical
7. Akzonobel N.V.
8. Yantai Sanding
The report also provides an overview of many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments. Click Here To Get Absolute Top Companies Development Strategies Summary Report
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