February 02, 2021
According to the research report titled ‘Global Sulfamic acid Market Size study, by Form (Crystal Powder Liquid Others), By End Use (Paper & Pulp production, Electroplating and Electro-refining, Plastic, Sulphation and Sulphamation, Chlorine Stabilization, Dyes and Pigments), By Industry (Food and Beverages Pharmaceutical Cosmetics Agriculture/Animal Feed Others Industries) and Regional Forecasts 2020-2027’, available with Market Study Report LLC, global sulfamic acid market was valued at USD 0.3 billion in 2019 and is anticipated to record a 2.2% CAGR during 2020-2027.
Soaring demand in several industrial applications and personal care commodities is driving global sulfamic acid market growth. Sulfamic acid is extensively used in personal care products as it is believed to be healthy, thus rapid expansion of personal care industry is boosting the product demand.
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According to Statista, in 2016, the per capita expenditure on color cosmetics in Brazil was approximately USD 9.5 per individual, which is anticipated to increase to USD 10.8 per person by 2021.
For those unversed, sulfamic acid or amido sulfuric acid is a chemically formed, molecular compound, that is soluble in water and colorless, finding several applications. It is generally a predecessor for sweet-tasting mixtures and is the key raw material for various chemical products like herbicide and fire retardant, which impels global sulfamic acid industry outlook.
Despite the favorable business scenario, health issues like cancer and cellular level changes on usage over a prolonged period are likely to hamper worldwide sulfamic acid industry size over the forecast period.
Speaking of the regional landscape, soaring demand from paper manufacturing and cosmetics sectors are swaying North America sulfamic acid industry dynamics. In addition, increasing demand for cosmetics in the developed economies of the region is further propelling the NA market outlook.
On the other hand, Asia Pacific presently holds a major portion of worldwide sulfamic acid market share and is projected to expand through 2027, owing to China stimulating product demand with presence of various market players and medium-sized companies producing sulfamic acid.
Renowned companies in global sulfamic acid market sphere are Jiangsu Hanton Group Co. Ltd., Laizhou Guangcheng Chemical Co. Ltd., Nanjing Jinzhang Industrial Co. Ltd., Shandong Xingda Industrial Co. Ltd., Laizhou Jinxing Chemical Co Ltd., Yantai Sanding Chemical Co. Ltd., Shandong Mingda Chemical Technology Co. Ltd., Palm Commodities International LLC, Raviraj Chemicals, Nissan Chemical Corporation.