Chelating Agents Market Research study on Future Challenges, Growth Statistics and Forecast

Global Chelating Agents Market Overview

The global chelating agents market is expected to reach USD 6,396.9 million by 2027, with a projected compound annual growth rate (CAGR) of 4.4% over the forecast period. The introduction of biodegradable sequestering agents by key industry players is poised to enhance the market outlook.

Eco-Friendly Innovations in the Chemical Sector

Historically, the chemical manufacturing industry has been a significant polluter. However, with evolving environmental regulations and shifting perceptions, companies are increasingly focusing on developing sustainable, eco-friendly products.

For instance, Finland's Kemira has developed the Fennobio product line of OECD-certified biodegradable chelating agents, suitable for recycled, mechanical, and chemical fibers. These agents are free of hazardous substances and are non-combustible, making them ideal for environmentally friendly bleaching processes. Likewise, in July 2019, BASF introduced Trilon M, a biodegradable chelator based on renewable resources and the biomass-balance approach. Such products are expanding the potential of the chelating agents market.

Leading Companies in the Chelating Agents Market

Zhonglan Industry Co., Ltd. (Shandong, China)

Tosoh Corporation (Tokyo, Japan)

Hexion (Ohio, U.S.)

Nouryon (Amsterdam, Netherlands)

Shandong IRO Chelating Chemical Co., Ltd. (Shandong, China)

Mitsubishi Chemical Corporation (Tokyo, Japan)

BASF SE (Ludwigshafen, Germany)

Akzo Nobel N.V. (Amsterdam, Netherlands)

Bozzetto Group (Filago, Italy)

Ava Chemicals Private Limited (Maharashtra, India)

Ascend Performance Materials (Houston, U.S.)

NIPPON SHOKUBAI CO., LTD. (Osaka, Japan)

Kemira (Helsinki, Finland)

Dow Chemical Company (Michigan, U.S.)

ADM (Illinois, U.S.)

The market's value stood at USD 4,757.1 million in 2019. The report offers:

In-depth analysis of key market segments and their performance.

Comprehensive profiles of major market players and their strategies.

Leading insights into market drivers and challenges.

Detailed study of regional trends affecting market growth.

Market Challenges: Impact of COVID-19

The growth of the chelating agents market is expected to face significant challenges due to the COVID-19 pandemic. Lockdowns and social distancing measures have disrupted global supply chains and reduced the demand for paper products due to the shift towards remote work and study.

For example, a report from North Carolina State University highlighted a rapid decline in the demand for copier and printing paper in the U.S. Similarly, the Deccan Herald reported a 10-15% drop in the demand for paper and paperboard in India due to the nationwide lockdown. Chelating agents such as Diethylenetriamine pentaacetate (DTPA) and Ethylenediaminetetraacetic acid (EDTA) are commonly used in the pulp and paper industry for peroxide-based bleaching and metal ion removal. Therefore, the slowdown in the paper industry is expected to negatively impact the chelating agents market.

Regional Market Insights

Asia Pacific: Leading the Way

The Asia Pacific region is projected to dominate the chelating agents market share during the forecast period, driven by significant technological advancements in the surfactants industry. Companies in this sector are developing liquid detergents with biodegradable components to address the growing awareness of pollution caused by synthetic cleaning chemicals in countries like India and China. In 2019, the Asia Pacific market was valued at USD 1,969.5 million.

Europe and North America: Growth Drivers

Europe is experiencing a shift towards green economy models and strict chemical manufacturing regulations enforced by the European Union (EU), which will foster market growth and create substantial opportunities. In North America, the market is expected to grow due to increasing demand for chelating agents in oilfield applications.

Information Source: https://www.fortunebusinessinsights.com/chelating-agents-market-104716

Competitive Landscape

Introduction of Inventive Solutions to Foster Competition

Key players in this market are deeply engaged in developing and introducing innovative sequestering solutions, with a view to amplify their business outreach. Most of the companies are concentrating on coming up with sustainable, biodegradable products, which will future-proof their portfolios.