The global market for chelating agents was projected to be worth USD 7,360.9 million by 2023. It is projected to grow at a CAGR of 5.7% from 2023 to 2033. It is expected to surpass a valuation of USD 12,758.3 million by the end of 2033. The market expanded by 4.5% annually in 2022. The demand for chelating agents in water treatment operations is being driven by the growing industrial sector, strict environmental regulations, and the growing need for clean and safe water. These agents offer practical ways to get rid of heavy metals, stop scale from forming, and make sure water quality regulations are followed.
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.
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.
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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
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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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Chelating Agent Market Outlook by Category
By Product Type:
- Bio-degradable
- Non-Bio-degradable
By Application:
- Water Treatment
- Agriculture
- Paper & Pulp
- Pharmaceuticals
- Food & Beverage
- Chemical Processing
- Household & Industrial Cleaning
- Oil & Gas
- Others
By Region:
- North America
- Latin America
- Western Global
- Eastern Global
- Central Asia
- Russia and Belarus
- Balkan and Baltic Countries
- East Asia
- South Asia and Pacific
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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