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The global sulfamic acid market size is predicted to be valued at $1,372.80 million by 2031, surging from $375.00 million in 2021, at a CAGR of 15.0%.
The COVID-19 pandemic has had an effect on all manufacturing sectors as well as the chemical and sulfamic acid sector. Lockdowns had a negative effect on production, which resulted in stockpiling of inventory and a decrease in demand for new raw material supplies. Sulfamic acid is frequently employed as an acid cleaning agent for metals and ceramic-based products in the industrial sector, which was hit by the closure of industries. However, from the perspective of the consumer, the pandemic raised people's concern for cleanliness and hygiene, which increased the market demand for toilet cleaning products and detergents. All these factors positively affected the sulfamic acid market share growth during the pandemic.
However, several initiatives launched by various companies are helping society to recover from the pandemic. Brenntag NV, Nissan Chemical Industries, Ltd., Redox Pty Ltd., and Spectrum Chemical Manufacturing Corp. are important sulfamic acid suppliers that are concentrating on R&D, mergers, joint ventures, collaboration, and product innovation.
The major factors boosting the growth of the sulfamic acid market revenue are an increase in demand for various industrial applications and an increase in demand for personal care products in the market. The tendency to spend on cosmetics is not greatly influenced by a slowdown; rather, consumer preferences tend to shift to low-cost market products. Personal care is an interesting and promising market, and it is expected to grow in the near future. Therefore, the demand for sulfamic acid is expected to rise in the coming years. Sulfamic acid has proved to be a safe ingredient in personal care products, but it is regarded as a moderate hazard in the cosmetic industry.
However, the long-term use of sulfamic acid causes cancer, and strict government regulations for sulfamic acid use are expected to be major restraints on the sulfamic acid market growth rate during the forecast years. On the contrary, volatile raw material prices are expected to hamper the the sulfamic acid market growth during the forecast period.
Sulfamic acid is used to clean various objects, including household metals and other items. It serves as a chlorine stabilizer in swimming pools as well as a fading-added component in the paper and pulp industry. Furthermore, the increase in awareness of the flooding technique and micro-computed tomography method, as well as the growing demand for premium beauty and skincare products, are expected to provide a variety of growth opportunities for the sulfamic acid market during the forecast period. This factor is estimated to boost the sulfamic acid market opportunity.
The sulfamic acid market growth is segmented on the basis of form, application, and region.
Form:
By form, the market is classified into liquid and powder. Among these, the liquid segment is anticipated to show the fastest growth during the forecast period. Sulfamic acid is a highly efficient inhibitor that is frequently used to maintain and clean water systems. When worker safety is a top priority, liquid sulfamic acids are excellent in removing iron and precipitated hardness deposits and are highly advised for use by the government.
Application:
By application, the market is classified into metal finishing, dyes & pigments, paper & pulp, plastic, and others. Among these, the metal finishing segment accounted for a dominant market share in 2021. Sulfamic acid is a powerful descaling agent that is employed to clean a variety of industrial products, including metal finishing. Sulfamic acid is used as an acidic cleaning agent, sometimes pure or as a component of proprietary mixtures, typically for metals and ceramics. It serves as a substitute for hydrochloric acid in the treatment of rust. In households, it is often found as a descaling agent in detergents, cleaners, and toilet cleaners for the removal of limescale.
Region:
The sulfamic acid market in the LAMEA region is projected to show the fastest growth during the forecast period. Some of the major factors driving the sulfamic acid market growth in the LAMEA region include the developing chemical industry, rising demand for cosmetics among consumers, and rising water sanitization concerns. LAMEA leads the sulfamic acid market due to the high demand for sulfamic acid in the paper manufacturing and cosmetic industries. LAMEA is expected to expand at a significant growth rate during the forecast period of 2022 to 2031, due to a rise in R&D activities and an increase in the application of sulfamic acid.
Some of the leading sulfamic acid market players are:
On April 21, 2021, Methanex, Nissan Chemical, and Modulus Discovery jointly announced the signing of a strategic drug discovery collaboration agreement. Under this agreement, the companies collaboratively accelerated the development of novel small molecule drug candidates derived from Modulus’ pipeline of R&D programs leveraging each party’s drug discovery platform and expertise.
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