PUBLISHER: Allied Market Research | PRODUCT CODE: 1193031
PUBLISHER: Allied Market Research | PRODUCT CODE: 1193031
The global sulfamic acid market is envisioned to garner $1,372.80 million by 2031, growing from $375.00 million in 2021, at a CAGR of 15.0% from 2022 to 2031.
The caustic nature of sulfamic acid makes it a common ingredient in household cleaning products. As it is corrosive, sulfamic acid is ideal for cleaning surfaces such as toilets that are prone to amassing a lot of filth. Sulfamic acid is a powerful drain cleanser that can decompose organic materials like grease and hair. When sulfamic acid comes into touch with water, it heats up, which aids in clearing clogged drains. Additionally, the demand for sulfamic acid is expected to increase significantly in the next years due in large part to other home items using the chemical, such as laundry detergent, dishwasher liquid, and even some cosmetics.
However, the long-term use of sulfamic acid causes cancer, and strict government regulations for its use are likely to be significant barriers to market growth over the projection period. While it is anticipated that the volatile price of raw materials will hinder the growth of the sulfamic acid market throughout the aforementioned projected period. A specialized infrastructure is also needed for the manufacturing of sulfamic acid because it is poisonous and may reduce market demand.
Sulfamic acid market factors such as increasing population, rising hygiene awareness, and increasing demand for residential cleaning appliances all contribute to the possibility of partnerships and collaborations among the leading market players. Additionally, as more businesses turn to the packaging, pharmaceutical, and medical sectors to meet rising consumer demand, governments throughout the world are stepping up efforts to increase chemical output and the development of chemical industries. In addition, it is expected that sulfamic acid's expanding demand in the dyeing and textile industries will open up new business prospects for the top companies and increase market revenue. These factors are anticipated to boost market growth in the upcoming years.
Most global market sectors have been severely impacted by the COVID-19 pandemic. The industry sectors have recently faced unforeseen obstacles since the pandemic's emergence. There was a significant decline in the economy as a result of partial or complete lockdowns enforced in several nations around the world. During the COVID-19 pandemic, certain industry sectors experienced debt and loss, while others, like the pharmaceutical, chemical, and healthcare sectors, aim to grow and benefit from demand. Sulfamic acid is commonly used to make pesticides and cleaning products, which is essential in a pandemic situation. Cleaning is crucial in a pandemic situation, and demand for cleaning supplies rose significantly during this period.
The key players profiled in this report include Nissan Chemical Corporation, ShanDong Mingda Chemical Technology Co., Ltd, BASF SE, AkzoNobel N.V., DuPont, Jiangsu Yazhong, Palm Commodities, Yantai Sanding, Raviraj Group, and Shree Sulphamic Chemicals.
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