High growth in the paper & pulp industry will drive the global chelating agents market owing to the products usage in production of paper & pulp. In 2015, Global paper & pulp industry generated revenue exceeding USD 500 million and the industry is estimated to grow at a steady rate during the forecast period. Increasing paper demand from the flexible packaging industry will contribute to pulp & paper sector which in turn will boost the chelating agents market in the coming years. Chelating Agents Market will likely surpass USD 5.4 billion by 2024 according to this new research report.
Rising water treatment industry will also be a driving factor for the chelating agents market due to its applicability as a water treatment chemical. Increasing worldwide population, rapid industrialization and depleting clean water reserves has led to a rise in the demand for water treatment plants. Countries witnessing heightened industrial growth like China and India will likely be major markets for water treatment sector due to stringent norms regarding industrial water discharge. This will augment the global chelating agents market during the forecast period.
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Environmental and health hazards linked with petrochemical based chelating agents like EDTA and HEDP may pose a challenge to the overall chelating agents market. These products are non-biodegradable and may cause adverse effects on human and animal health and are strictly regulated by various organizations like REACH, EPA, etc. However, development of biodegradable and natural products may prove to be an important opportunity for market participants in future.
Global chelating agents market is categorized as Aminopolycarboxylic acid (APCA), sodium gluconate, organophosphates, and other products. APCA is estimated to occupy more than 35% share of total market and this segment is poised to grow with 3.5% CAGR till 2024. Sodium gluconate segment is anticipated to grow with 3.8% CAGR and to occupy more than 35% of global chelating agents market by 2024. Organophosphate segment will likely generate revenues amounting above USD 850 million by the end of the study period.
Pulp & paper, agrochemicals, water treatment, household & industrial cleaning, chemical processing, and consumer products are the major application segments of the chelating agents market. Pulp & paper is the most prominent application segment which is estimated to occupy more than 30% of the overall share. This segment will likely grow by a CAGR above 3.5% during the forecast period. Household & industrial cleaning is another major application segment with grow rates estimated to be around 3.8% till 2024. Water treatment is one of fastest growing segment with estimated revenue in 2024 exceeding USD 480 million.
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Asia Pacific is anticipated to occupy the largest share of chelating agents market with growth rate of around 4% CAGR during the forecast period. Presence of many pulp & paper industries, rapid population growth and heightened industrialization will be the contributing factors for the regional industries growth. It is estimated that North America and Europe together will occupy about 40% of total market. North America will likely generate revenue exceeding USD 1 million in 2024 whereas Europe is anticipated to witness growth of around 3.3% CAGR.
There are many medium and large scale companies operating in the global chelating agents market. These include AkzoNobel, Sigma-Aldrich, BASF SE, EMD Millipore, Mitsubishi Rayon, Midland (ADM) Company, Archer Daniels, Lanxess, Kemira Oyj, Tate & Lyle, The Dow Chemical Company, Dabeer, Cargill Inc, Shandong IRO Chelating Chemical, Nagase ChemteX, and AVA Chemicals.
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