Chelating Agents Market to Cross US$ 6.5 Billion by 2024
IMARC Group’s latest report, titled “Chelating Agents Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, finds that the global chelating agents market size reached US$ 5.2 Billion in 2018. Chelating agents, also known as ligands and sequestering agents, are organic or inorganic compounds that react with metal ions to form complex ring-like structures. These agents are polyacidic, polybasic or function both as acids and bases and exist in different salt forms. Chelating agents help in breaking down, isolating or moving heavy metal ions; deactivating metal ions to prevent plugging, sealing and precipitation; and limiting the availability of metal ion concentration. They also transport nutrients in plants and aid in the digestion processes, both in humans and animals.
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Market Trends:
The demand for chelating agents is driven by their utilization in various applications, such as water treatment, paper manufacturing and the latest dishwasher tabs to prevent or remove hard-water and food stains on dishes. In addition, they are used as precursors in the production of fertilizers that release micronutrients in crops to avert soil salinization. Besides this, chelating agents are used as additives in the food processing industry as the binding of the metal atoms (masking) stabilizes the structure, aroma and color of the food and provides an antioxidant and preservative effect. Moreover, the advancement in chelating technology has contributed to the development of mobilizing agents, which can help to minimize industrial waste and reduce the environmental impact of hazardous chemicals. However, there is ongoing research regarding the innovations in the synthesis of new biodegradable agents. Looking forward, the market value is projected to reach US$ 6.5 Billion by 2024, expanding at a CAGR of 3.7% during 2019-2024.
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Market Summary:
- On the basis of the type, the market has been segmented into aminopolycarboxylic acid (APCA), sodium gluconate, organophosphonate and others. Amongst these, APCA is the most popular type of chelating agent, holding the largest market share.
- Based on the application, pulp and paper is the largest application area, dominating the market. Other major application segments are household and industrial cleaning, water treatment, agrochemicals, and personal care.
- Region-wise, Asia Pacific enjoys the leading position in the market. It is followed by North America, Europe, Latin America, and Middle East and Africa.
- The competitive landscape of the market has also been examined with some of the key players being AkzoNobel NA, Archer Daniels Midland Company, BASF, Kemira Oyj and Dow Chemical Company.
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