By 2023, size of the global chelating agents market was estimated to be US$ 7,360.9 million. From 2023 to 2033, a CAGR of 5.7% is anticipated. By the end of 2033, it is set to surpass a valuation of US$ 12,758.3 million. In 2022, the market experienced a 4.5% yearly growth.
Increasing need for clean & safe water, stringent environmental regulations, and expanding industrial sector are driving demand for chelating agents in water treatment activities. These agents provide effective solutions for removing heavy metals, preventing scale formation, and ensuring compliance with water quality standards.
Chelating agents are effective in removing heavy metals from water. With increasing industrialization and urbanization, water sources are becoming contaminated with heavy metals such as lead, mercury, cadmium, and arsenic.
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Heavy metals pose significant health risks to humans and the environment. Chelating agents hence form stable complexes with these metals, allowing them to be easily removed from water during the treatment process.
Chelating agents are used to prevent the formation of scale and deposits in water treatment systems. As water is treated and circulated through pipes, boilers, and cooling towers, minerals and salts can precipitate and form scale, reducing the efficiency of these systems.
Chelating agents bind to these minerals and prevent them from forming scale, thereby improving the performance and lifespan of water treatment equipment. There has recently been rapidly rising global awareness about the importance of clean water and its impact on human health, there is an increased demand for effective water treatment solutions.
Chelating agents are recognized as valuable tools in ensuring water quality by removing impurities, heavy metals, and other harmful substances.
The industrial sector, including manufacturing, mining, and energy production, requires significant amounts of water for various processes. However, these activities often generate wastewater containing pollutants and metals. To reduce generation of pollutants, demand for chelating agents is anticipated to expand by 2033.
Key Takeaways from the Chelating Agent Market Study
- The global chelating agent industry witnessed a CAGR of 4.0% over the historical period of 2018 to 2022.
- The United States market is expected to represent a total incremental opportunity of US$ 1,201.3 million between 2023 and 2033.
- China chelating agent industry is expected to expand at a CAGR of 6.8% during the forecast period.
- By application, the pulp and paper segment is projected to hold the lion’s share through 2033.
- Top countries driving the chelating agent market are China, Germany, and the United States.
“Launch of novel agents that outperform their conventional counterparts in terms of efficacy, environmental friendliness, and cost-effectiveness is a key goal for renowned companies. These developments are expected to create new opportunities and promote growth.” – says a lead Future Market Insights (FMI) analyst
Competitive Landscape
The chelating agent industry is expected to be dominated by a few key players, leading to a fragmented landscape. In the industry, top manufacturers such as BASF SE, Solvay, Mitsubishi Chemical Corporation, Nouryon, and Dow Chemical Company, Kemira, Hexion, Akzo Nobel, and Innospec Inc. hold significant market shares.
In order to strengthen their market position and expand their product portfolios, chelating agent manufacturers have been engaging in strategic partnerships, collaborations, and acquisitions. These activities would allow companies to access new technologies, enhance their production capabilities, and enter new geographical markets.
Chelating agent manufacturers are expanding their geographic presence to tap into new markets and leverage growth opportunities offered by emerging economies. This includes establishing distribution networks, opening regional offices, and forming partnerships with local players.
For instance,
- An innovative business that specializes in environmentally friendly chelating agents is called EcoChelate Corporation. The company offers cutting-edge products with an emphasis on ecology and environmentally friendly chemistry that are made to have a minimal impact on the environment while still providing high chelation performance.
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Get More Insights into the Chelating Agent Market Report
In its latest report, Future Market Insights (FMI) offers an unbiased analysis of the global chelating agent market, providing historical data from 2018 to 2022 and forecast statistics for the period 2023 to 2033. To understand the global market potential, growth, and scope, the market is segmented based on product type (bio-degradable and non-bio-degradable), application (water treatment, agriculture, paper & pulp, pharmaceuticals, food & beverage, chemical processing, household & industrial cleaning, oil & gas), and regions.
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