Chelating Agents Market: Global Industry Analysis and Industry Forecast 2024

Chelating Agents Market: Global Industry Analysis and Industry Forecast 2024

The volume production is mainly due to the rising demand for paper-based disposable tableware, cutleries, and food packaging in food industry and paper-based flexible packaging solutions in the e-commerce industry. According to Global Market Insights, Inc, forecast, global chelating agents market size is projected to surpass US$5 billion by 2024.

Chelating agents are usually organic compounds that are used in many applications, such as water treatment, chemical processing, household and industrial cleaning, pulp and paper manufacturing, agrochemicals, and consumer products. These agents act as an important processing additive in the manufacture of pulp and paper.

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Its utilization improves the bleachability of pulp and helps in reducing pulp bleaching costs. As the emission concerns of plastic are drawing attention towards biodegradable and sustainable products, the demand for pulp & paper and their various products is increasing rapidly. As per the U.S. Environmental Protection Agency, approximately 300 million tons of paper are produced each year globally.

Requirement in water treatment plants

Demand for amino polycarboxylic acid or APCA, a chelating agent, is slated to grow considerably by 2024. The growth is attributed to extensive utilization of APCA in the water treatment plant, as it offers exceptional chelating properties, that help in removing metals from contaminated water. There has been an increasing demand for APCA compounds in water treatment plants, especially in developing countries, to limit the prevalence of diseases associated with contaminated water consumption.

On the other hand, deprotonated amino polycarboxylates form strong complexes with metal ions, which makes them a useful complexone in a wide range of medical, chemical, and environmental applications.

Demand for metal chelate compounds in agrochemicals

The agrochemicals application segment is predicted to hold significant market share of the chelating industry by 2024. Metal chelate compounds are major components of fertilizers that provide important micronutrients such as, iron, manganese, copper, and zinc to plants and improves their health. The growing necessity to increase crop yields in order to cater to the persistent demand for food from a large population base is positively influencing the adoption of effective agrochemicals in fields.

According to the World Bank, global production of three major grains, such as wheat, rice, and maize is collectively expected to be 76 million metric tons during 2021-2022, indicating the considerable future demand for agrochemicals.

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High penetration of cleaners and hand sanitizers in Europe

Chelating agents as water softeners are used in detergents and cleaners to remove dissolved minerals and enhance effectiveness upon application on surfaces. Growing emphasis on maintaining better hygiene, on account of rising health concerns amid the COVID-19 pandemic is creating tremendous demand for highly efficient cleaners. To attain maximum protection against the coronavirus, people are extensively spending on different kinds of cleaners, such as hand sanitizers, disinfectant sprays & liquids, and others.

Archer Daniels Midland (ADM) Company, EMD Millipore, Sigma-Aldrich, Lanxess, The Dow Chemical Company, BASF SE, and Mitsubishi Rayon are among some prominent manufacturers of chelating agents. These firms are focusing on mergers, acquisitions, and new product development to enhance their business and strengthen their position in the global market.

 

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