The global sulfamic acid market is projected to have a compound annual growth rate of 7.13%, growing from US$264.263 million in 2019 to US$427.972 million in 2026. The market of sulfamic acid is expected to drive by increasing demand in industrial applications, and the increasing demand for personal care and cosmetic products. Sulfamic acid is used as a chemical cleaning agent as it is a water-soluble compound in the industrial sector. In the consumers’ applications, the people's demand for hygiene is increasing which is increasing the demand for household cleaning agents. Also, people’s expenditure is increasing for personal care and cosmetic products which is also boosting the growth of the sulfamic acid market. The growth of sulfamic acid is expected to be restrained by the health-related harmful effects, and government strict rules and regulations. The usage of sulfamic acid can cause cancer, rashes, itches,
The market of sulfamic acid is segmented by form into liquid, crystal, powder, and others. It is expected that in the forecasted period, the growth of the liquid sulfamic acid market will be significant, as the liquid form of sulfamic acid is an extremely effective inhibitor, and widely used in industrial applications such as water systems cleaning and maintenance, and so on. The segmentation of the sulfamic acid by end-users, the market is segmented into Pharmaceutical, Food & Beverages, agriculture, cosmetics, and others. The market by region is segmented into North America, South America, Europe, Middle East, and Africa, and the Asia Pacific. The Asia Pacific is expected to have widespread growth in the forecast period. In Latin America, the demand for sulfamic acid is driven by the demand for personal care products, and that in North America is expected to be driven by the demand for cosmetic products in this region. In Europe, the increasing research and development in the sulfamic acid market in various applications is boosting the growth of sulfamic acid. By applications, the market of sulfamic acid is segmented into electro-plating & electro-refining, sulfation & defamation, metal finishing, dyes & pigments, paper & pulp, plastic, and others, where others include descaling of water, scaling of hardware, chlorination of water, fire sealing agent, and so on. Currently, the metals finishing is holding a significant market share in the sulfamic acid market and more demanding over hydrochloric acid because of its less corrosive nature, and hence, projected to have positive growth in the forecast period. Apart from the metal finishing, the other one that is expected to grow significantly in the forecast period is the dyes & pigments market, as the sulfamic acid helps to get the better and clearer pigments of different shades of colors along with consistency expanded between the dyes produced. The metal finishing market is expected to be driven by the increasing demand for industrial equipment maintenance.
The pandemic covid-19 has impacted all the manufacturing industries as well as the chemical industries including the sulfamic acid industry as well. Due to lockdowns, the production has impacted negatively, which leads to piling of the inventory stock and a decline in the demand for the new raw material supply. Sulfamic acid is generally used as an acid cleaning agent for the metals and ceramic-based goods in the manufacturing industry, which has impacted due to the shutdown of the industries. On the other side from the consumer's end, the pandemic has made people more concerned about sanitization and hygiene, which has increased the demand for detergent and toilet cleaning agents in the market and somewhere balanced out the market for sulfamic acid.
Indonesia's Lautan Luas has developed a subsidiary, “Lautan Sulfamat Lestari” that are planning to construct a sulfamic acid plant of 7000 ton per year near Jakarta. An ISO-certified company, Vishnupriya Chemicals, India is increasing the production of technical grade sulfamic acid to substitute the corrosion inhibitors for chlorine stabilization. To establish a plant of the sulfamic acid, the firms need to take approval from ISO and Food Drug Association. Milliken, a chemicals-based company is planning to collaborate with the chemists in order to expand in the sulfamic aid market by bringing innovations in the equipment services.
APAC to witness lucrative growth
Asia Pacific region is expected to witness a significant growth rate in the forecast period. The growth of the market in this region is expected to be driven by the increasing sanitization concerns of water, expanding chemical industry, and the increasing demand for cosmetics by the people in the Asia Pacific region. In the Asia Pacific region, China and India are expected to have a significant market share of the sulfamic acid in the forecast period, as China has several medium-sized companies, and the major demand comes from this country. India has an increasing demand for sulfamic acid in the applications of paper packaging, plastics, pharmaceuticals, and pigment.
Frequently Asked Questions (FAQs)
Q1. What will be the sulfamic acid market size by 2026?
A1. The global sulfamic acid market is projected to reach a total market size of US$427.972 million in 2026.
Q2. What are the growth prospects for the sulfamic acid market?
A2. The sulfamic acid market is projected to grow at a CAGR of 7.13% during the forecast period.
Q3. What is the size of the global sulfamic acid market?
A3. Sulfamic Acid market was valued at US$264.263 million in 2019.
Q4. Which region holds the largest market share in the sulfamic acid market?
A4. Asia Pacific region is expected to witness a significant share in the sulfamic acid market due to the increasing sanitization concerns of water, expanding chemical industry, and the increasing demand for cosmetics by the people.
Q5. What factors are anticipated to drive the sulfamic acid market growth?
A5. The sulfamic acid market is expected to drive by increasing demand in industrial applications, and the increasing demand for personal care and cosmetic products.