January 06, 2021
According to a recent research report titled ‘Global Chelating Agents Market Size study with COVID-19 impact, by Type (Non-Biodegradable and Biodegradable), by Application (Pulp & Paper, Cleaning, Water Treatment, Agrochemicals, Personal Care and Others) and Regional Forecasts 2020-2027’, available with Market Study Report LLC, global chelating agents market attained a valuation of USD 6.53 billion in 2019 and is projected to register a y-o-y growth rate of 4.2% over 2020-2027.
As per the report findings, robust growth of e-commerce and packaging industries, and upsurge in demand for treated water across various industry verticals are accelerating global chelating agents industry expansion. On the contrary, eco-toxicological risk of non-biodegradable chelating agents is negatively impacting the market dynamics.
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For the uninitiated, chelating agents are molecular compounds that help in creation of solid complexes by forming chemical bonds with metallic ions. Owing to their high metal specificity, these compounds can be used as selective flocculants for metallic remobilization from sediments and aquifers. They can also be utilized to perturb steel speciation and to encourage the bioavailability of metals. Besides, chelating agents find a wide array of applications, including chemical evaluation, detergents, water remedy system, oil production, dairy & beverage industry, drug treatments, and power flowers among others.
From a geographical standpoint, North America, Asia Pacific, Latin America, and Europe are the key contributors to the overall chelating agents market remuneration. Industry experts cite that North America currently accounts for majority of the industry share due to spike in demand from various end-use industries across the region.
Meanwhile, Asia Pacific chelating agents industry size is slated to expand profusely over 2020-2027, largely attributable to rapid growth of packaging industries and e-commerce sector. In fact, the Indian brand Equity Foundation claims that e-commerce sector accounted for USD 38.5 billion in 2017 and expected to reach USD 200 billion by 2024. Likewise, the data published in a e-marketers report states that in 2018, China’s retail e-commerce industry generated USD 1.52 trillion in sales, which is projected to hit USD 4.09 trillion by 2023. Hence, the demand for chelating agents will continue to soar particularly from emerging economies in the region.
Key players influencing global chelating agents market trends are Hexion Inc., Ascend Performance Materials, LLC, MilliporeSigma, Nippon Shokubai Co., Ltd., Archer-Daniels-Midland Co., Mitsubishi Chemical Holdings Corp., Kemira Oyj, Nouryon, The DOW Chemical Company, and BASF SE.