Biodegradable Chelating Agents Market Share, Emerging Trends, Demand, Revenue, Growth Drivers, Challenges, Key Players, Opportunities and Future Competition Till 2032: SPER Market Research
Biodegradable compounds called chelating agents are frequently used in laundry and cleaning. These chemicals are mostly used in the laundry, surface care, detergent, and homecare product industries. Common chelating compounds are not biodegradable and have detrimental impacts on the environment. These are particularly harmful to soil and water because they contain heavy metals. The increasing number of people using these products for personal use is driving up demand for biodegradable chelating agents. Additionally, chelating is showing up increasingly frequently in cleaning products.
According to SPER market research, ‘Biodegradable Chelating Agents Market Size- By Product, By Application – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Global Biodegradable Chelating Agents Market is predicted to reach USD 8.61 billion by 2032 with a CAGR of 4.73%.
Global Biodegradable Chelating Agents Market Driving Factors:
The market for biodegradable chelating agents is expected to increase due to strict government rules governing water effluent treatment. This is because there are limited freshwater resources, which is driving up the need for chemicals used in municipal and industrial wastewater treatment. The demand for water is further increased by urbanisation and population growth. To guarantee water quality, the US Environmental Protection Agency (EPA) implements regulations such as the Safe Drinking Water Act (SDWA). The market is positively impacted by these laws, which increase the usage of biodegradable chelating agents for water treatment. Furthermore, market expansion is driven by the agrochemical sector’s expanding demand, which is fueled by population increase and the need for food. The demand for agrochemicals has increased as a result of rising disposable income, changing lifestyles, and an increase in the consumption of high-quality food in emerging economies. When preparing micronutrients for crops, biodegradable chelating agents are essential for increasing absorption and reducing environmental impact on soil fertility, thus driving market.
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Global Biodegradable Chelating Agents Market Challenges:
The increased availability of replacements is one of the main obstacles to the expansion of the global market for biodegradable chelating agents. For example, because of their residue-free action, bleaching chemicals such xylanase enzymes, sodium dithionate, and bleaching agents based on peroxide and chlorine are being used by the paper and pulp sector. Due to their low cost, chemicals like alum and poly-aluminum chloride are widely utilised in water treatment processes, which will reduce the need for biodegradable chelating agents. Furthermore, alternatives like iron salts, alum, and aluminium sulphate are frequently utilised in a variety of applications, including paper sizing and wastewater treatment. Therefore, throughout the forecast period, the increased availability of replacements in the market would pose a serious threat to the expansion of the global biodegradable chelating agents market.
COVID Impact: The COVID-19 pandemic in 2020 had a detrimental effect on the chemical sector in a number of nations, including China, Japan, and India. The global economic recession and unfavourable market circumstances across the board led to a decline in biodegradable chelating agent production and exports from Japan. In 2020, there was a decline in the demand for and exports of chemicals, especially biodegradable chelating agents. However, the number of COVID-19 cases in the area decreased in H2 2020 as a result of the vaccine’s accessibility. As a result, during the projected time, the economies of nations like China, India, and Japan are anticipated to gradually rebound.
In 2018, Asia Pacific accounted for a significant portion of the global market for biodegradable chelating agents, both in terms of volume and value. It is anticipated that this tendency will hold throughout the projection period.
Additionally, some of the market key players are ADM, Akzo Nobel, Ascend Performance Material, Shandong IRO Chelating Chemical, Tosh Corporation, Others.
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Biodegradable Chelating Agents Market Demand
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