The global methanesulphonic acid market was worth more than USD xx billion in revenue in 2018 and is expected to cross USD xx billion in 2023, growing at a healthy CAGR of over xx% during the forecast period.
Methanesulphonic acid is a hygroscopic colorless liquid or white solid alkanesulfonic acid. It is produced from sulfur trioxide and methane or by oxidation of dimethyl disulfide. It is used in the production of various organic compounds and intermediates, where it acts as a catalyst and/or reactant.
Methanesulphonic acid has additional applications that include as electrolyte in electroplating industry, in production of intermediates for pharmaceutical industry and as cleaning or surface treating agents.
Rising demand for organic compounds and intermediates from industries such as pharmaceuticals, polymer and others are likely to drive the methanesulphonic acid market. As methanesulphonic acid is a primary feedstock for organic compounds and intermediates, demand for these is expected to fuel the growth of this market. Demand for organic compounds and intermediates is increasing due rise in demand from pharmaceuticals, polymer and other industries, which is in turn supported by the growing population and extra income in developing countries. Additionally, rising demand from electroplating and other outlets are likely to drive methanesulphonic acid market.
Drivers and Restraints of Methanesulphonic Acid Market
Growing investments in downstream industries in regions like the Asia, Americas and the Middle East are likely to offer tremendous possibilities for methanesulphonic acid market in the future. As a result of accessibility to raw material, multinational businesses are investing in resource-rich regions to be able to limit the overall production cost.
Methanesulphonic acid has an adverse effect on environment and is prone to stringent regulations. Existing and future regulations concerning the use of methanesulphonic acid in end products are likely to challenge the market growth.
Methanesulphonic Acid Market by Region
Asia was the largest consumer of methanesulphonic acid and this pattern is anticipated to continue over the following few years. Consumption in Asia is showing upward trend because of increase in economic activity in China and India. China, Japan and South Korea were the largest consumers of methanesulphonic acid in this region, whereas India is likely to grow at a higher pace. Growing demand from pharmaceuticals, electroplating and other industries will drive methanesulphonic acid market in Asia. Consumption of methanesulphonic acid in rest of the world was relatively low; however it is likely to grow at a reasonable rate next to Asia. With major production capacities in Asia and the Middle East, the region is likely to grow in terms of global supply capability. North America is likely to grow at a significant rate due to demand from organic intermediates, electroplating industry. Demand from Europe was low relatively and is likely to stay same in the next few years and will continue focusing on exporting to Asia.
Top players in this market include BASF SE, Arkema Group, Varsal, Oxon Italia S.p.A., TCI Chemicals, Langfang Jinshenghui Chemical Co., Ltd, Avantor, Inc., Shinya Chem, Xudong Chemical, Yanuo Chemical, Zhongke Fine Chemical, Xingchi Science and Technology, among others.
The report covers exhaustive analysis on:
- Global Market Segments
- Global Market Size
- Supply & Demand
- Global Market Competitive Landscape
- Production Technology
- Global Market Value Chain
Regional analysis includes:
- Middle-East and Africa
- In depth summary of parent market
- Altering market characteristics in the industry
- Detailed market segmentation
- Historical and forecast market size in terms of volume and value
- Current industry developments
- Competitive landscape
- Strategies of key players and products available
- Potential and niche segments, regions showing promising growth