WASHINGTON, Aug. 14, 2023 (GLOBE NEWSWIRE) -- As per Vantage Market Research, the Global Chelating Agents Market has steadily grown over the years due to the increasing demand from various end-use industries such as water treatment, agriculture, and industrial processes.
According to Vantage Market Research, the global Chelating Agents market is estimated to be valued at USD 9.7 Billion by 2030, and it is expected to exhibit a CAGR of 4.5% from 2023 to 2030. The global Chelating Agents market grew to USD 7.2 billion in 2022.
Chelating Agents are organic compounds that bind to metal ions in a specific and reversible manner. They form stable complexes with metal ions by surrounding them and forming several coordinate bonds through their multiple functional groups. These agents are commonly used in various industrial and medical applications such as water treatment, detergents, food preservation, and pharmaceutical formulations. Chelating Agents effectively remove metal ions from solutions, preventing undesirable reactions caused by metal contamination. They also enhance the stability and effectiveness of metal-based drugs by controlling the release of metal ions in biological systems.
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Key Highlights
- By Type, the high demand for the Biodegradable segment will increase the Chelating Agents Market over the forecast period 2023 to 2030.
- By Application, the pulp & paper segment dominated the largest market share globally during the forecast period 2023 to 2030.
- In 2022, the Asia Pacific region dominated the market with the highest revenue share of 43.1%.
- It is forecast that the North American area will grow at a high CAGR from 2023-2030.
The Chelating Agents market refers to the industry involved in producing, selling, and using Chelating Agents. Chelating Agents are compounds that form stable complexes with metal ions, which helps to improve the performance of various processes and products. Manufacturers are investing in research and development activities to develop Chelating Agents that are more effective and environmentally friendly. The development of biodegradable Chelating Agents, for example, is gaining significant attention due to their potential to reduce environmental pollution.
Top Companies in The Global Chelating Agents Market
- Akzo Nobel N.V. (Netherlands)
- BASF SE (Germany)
- Dow Chemical Company (U.S.)
- Mitsubishi Chemical Corp. (Japan)
- Kemira Oyj (Finland)
- Shandong IRO Chelating Chemical Co. Ltd. (China)
- NIPPON SHOKUBAI Co. Ltd. (Japan)
- Nouryon (Netherlands)
- Ascend Performance Materials (U.S.)
- Hexion Inc. (U.S.)
- Ava Chemicals Pvt. Ltd. (India)
- Tosoh Corporation (Japan)
- Bozzetto Group (Italy)
- Zhonglan Industry Co. Ltd. (China)
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Factors affecting the growth of the Chelating Agents Industry
There are several factors that can affect the growth of the Chelating Agents industry. Some of these factors include:
- Increasing demand from end-use industries: The growth of the Chelating Agents industry is heavily reliant on the demand from various end-use industries such as water treatment, pulp and paper, personal care, pharmaceuticals, textile, and agriculture.
- Growing awareness and concern about environmental pollution: Chelating Agents are extensively used in water treatment and waste management systems to mitigate the harmful effects of heavy metal contaminants on the environment.
- Rising government regulations and initiatives: Governments around the world are implementing stringent regulations and initiatives to control and reduce water pollution and environmental contamination.
- Technological advancements: With advancements in technology, new and more efficient Chelating Agents are being developed, offering better performance and increased stability than traditional Chelating Agents.
Top Trends in Global Chelating Agents Market
Chelating Agents are widely used in various industries, including pharmaceuticals, water treatment, and food processing, to remove or control heavy metal impurities. In recent years, there has been a growing trend in the development of Chelating Agents with improved properties such as higher selectivity and stability. These advancements are driven by the increasing need for effective metal ion control and the rise in environmental regulations. Additionally, Chelating Agents with enhanced biodegradability and reduced toxicity are gaining significant traction in the market. The demand for such novel Chelating Agents is expected to continue growing in the coming years, driven by their numerous applications and ability to address the challenges of heavy metal contamination.
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Recent Development of the Global Chelating Agents Market
- June 2021, Oncodesign, a biopharma company focused on precision medicine, announced a strategic partnership with Covalab, a maker of custom antibodies, CheMatech, a supplier of Chelating Agents in Europe, and ABX-CRO, a pharmaceutical firm involved in oncology, to create and market Drive-MRT (Molecular Radiotherapy), which incorporates the entire Theranostics platform.
- January 2021, Chernet (succimer), an oral active heavy metal Chelating Agent used to treat pediatric lead poisoning, has a temporary supply shortfall, according to Recodati Rare Diseases, the capsule's maker.
Market Drivers
The Chelating Agents market is primarily driven by the growing demand for these agents in various end-use industries such as water treatment, pharmaceuticals, and personal care. Chelating Agents are extensively used in the water treatment industry to remove heavy metal ions from water, thereby preventing corrosion and scaling in industrial equipment. They are also used as cleaning agents in food and beverage, pulp and paper, and healthcare industries.
In the pharmaceutical industry, Chelating Agents are utilized for the formulation of drugs and the treatment of metal intoxication. The increasing prevalence of heavy metal poisoning and the growing need for effective treatments is expected to boost the demand for Chelating Agents in the pharmaceutical sector. Furthermore, the rising awareness regarding personal hygiene and the increasing disposable income of consumers are driving the demand for personal care products. Chelating Agents are used as stabilizers and preservatives in personal care products to enhance their effectiveness and extend their shelf life. The growing demand for personal care products is anticipated to fuel the demand for Chelating Agents.
Market Restraints
One of the main restraints in the Chelating Agents market is the stringent regulations imposed by various government bodies. These regulations often require extensive testing and documentation, which can be time-consuming and expensive for manufacturers. Additionally, some Chelating Agents require specific raw materials, which may be expensive or limited in supply. This can impact the production and availability of Chelating Agents and hinder the market’s growth.
Market Opportunities
The increasing demand for clean and safe drinking water, coupled with stringent environmental regulations, is a significant factor pressed for the market's expansion during the forecast period. This is expected to benefit the Chelating Agents’ market expansion. Moreover, the growing awareness about the harmful effects of heavy metal contamination in agricultural products and the need for higher crop yields will speed up the market's expansion. During the projected period, the pharmaceutical sector is embracing Chelating Agents for their application in drug formulation and delivery systems. Evolving technologies and rising consumer awareness will also present several opportunities for the multiple sclerosis market expansion.
Browse market data Tables and Figures spread through 146 Pages and in-depth TOC on Chelating Agents Market Forecast Report (2023-2030).
Report Segmentation of the Global Chelating Agents Market
Type Analysis
Biodegradable Chelating Agents dominated the market with the largest market share because they are environmentally friendly and have a lower impact on ecosystems than non-biodegradable Chelating Agents. The global Chelating Agents market is based on types segmented into Non-biodegradable and Biodegradable. Furthermore, Biodegradable Chelating Agents are derived from natural sources such as plants or microorganisms, making them biocompatible and easily metabolized by organisms. This reduces the risk of bioaccumulation and toxicity in the environment. Furthermore, the increasing awareness and stringent regulations regarding environmental protection have led to a higher demand for sustainable solutions.
Application Analysis
The pulp & paper segment dominated the largest market share and will dominate in the forecast period because of its wide range of applications in the industry. Chelating Agents play a crucial role in various processes in the pulp and paper industry, including removing heavy metals, preventing scale formation, and stabilizing chemicals used in the production process. The global Chelating Agents market is based on the application analysis segmented into Pulp & Paper, Cleaning, Water Treatment, Agrochemicals, Personal Care, and Other Applications. Moreover, the pulp and paper industry constantly seek ways to improve sustainability and reduce environmental impact. Additionally, the growing demand for paper and paperboard products, particularly in emerging economies, is driving the growth of the pulp and paper industry. This, in turn, fuels the demand for Chelating Agents to support increased production and maintain product quality.
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Global Chelating Agents Market Segmentation
By Product Type
- Biodegradable
- Non-Biodegradable
By Distribution Channel
- Pulp & Paper
- Cleaning
- Water Treatment
- Agrochemicals
- Personal Care
- Other Applications
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Scope of the Report:
| Report Attributes | Details |
| Market Size in 2022 | USD 7.2 Billion |
| Revenue Forecast by 2030 | USD 9.7 Billion |
| CAGR | 4.5% from 2023 to 2030 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2030 |
| Key Players | Akzo Nobel N.V., BASF SE, Dow Chemical Company, Mitsubishi Chemical Corp., Kemira Oyj, Shandong IRO Chelating Chemical Co. Ltd., NIPPON SHOKUBAI Co. Ltd., Nouryon, Ascend Performance Materials, Hexion Inc., Ava Chemicals Pvt. Ltd., Tosoh Corporation, Bozzetto Group, Zhonglan Industry Co. Ltd. |
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Regional Analysis
- Due to the growing industrial sector in countries such as China, India, Japan, and South Korea, Asia Pacific dominated the global market share for Chelating Agents, with a market share of 43.1% in 2022. These countries have a significant presence in industries such as pulp and paper, agriculture, water treatment, and textile, which are major consumers of Chelating Agents. Additionally, the increasing awareness about the detrimental effects of heavy metal contamination on the environment and human health has led to a rise in the adoption of Chelating Agents for various applications. Moreover, the presence of a large consumer base and favorable government regulations further contribute to the dominance of the Asia Pacific region in this market.
- The North American market is the most lucrative due to several possible areas for future enlargement. The region's robust industrial infrastructure, technological advancements, and extensive research and development activities contribute to its growth. The rising awareness about the detrimental effects of heavy metals and the need for metal detoxification also propels the demand for Chelating Agents in North America.
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