PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1477128
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1477128
The Green Chelating Agent Market size was valued at USD 2,910.34 million in 2023, expanding at a CAGR of 7.10% from 2024 to 2032.
A green chelating agent refers to a chemical compound that is utilized to effectively bind and eliminate metal ions from a solution in an eco-friendly manner. These agents are specifically designed to improve the efficiency of auto-dishwasher and laundry detergents, household cleaners, as well as Industrial & Institutional cleaning products. Ideally, green chelating agents are derived from renewable resources instead of fossil fuels, thereby reducing reliance on limited resources and minimizing carbon emissions. It is crucial for these agents to efficiently chelate metal ions from solutions, either matching or surpassing the performance of conventional chelating agents, to ensure their practical usefulness.
Green Chelating Agent Market- Market Dynamics
Rising demand from industrial and institutional cleaners for green products is expected to drive the market growth
Industrial and institutional cleaners are facing increasingly strict environmental regulations that aim to reduce pollution and minimize the use of hazardous chemicals. To comply with these regulations and reduce their environmental impact, many companies are turning to green chelating agents. These agents are derived from renewable resources, biodegradable, and help companies meet regulatory requirements while minimizing their environmental footprint. The global commercial cleaning services market was valued at USD 292.6 billion in 2019 and was projected to reach USD 308.7 billion in 2020. This indicates the significant size and potential of the industry. Furthermore, the COVID-19 pandemic has led to a surge in demand for cleaning products and sanitizers, with approximately 7 million units sold in the US alone, according to Cleaning Industry Statistics. Advancements in green chemistry continue to pave the way for innovative and efficient green chelating agents. These developments offer new opportunities for the industry to further improve its environmental performance. However, it is important to note that higher production costs may pose a challenge to the market's growth.
Green Chelating Agent Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 7.10% over the forecast period (2024-2032)
Based on Type segmentation, Sodium Gluconate was predicted to show maximum market share in the year 2023
Based on application segmentation, Cleaning was the leading type in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Green Chelating Agent Market is segmented based on Type, Application, End-User, and Region.
The market is segmented into three categories according to Type: Sodium Gluconate, MGDA, EDDS, GLAD, and Others. Sodium Gluconate holds the largest market share. This chelating agent has become increasingly popular in recent years because of its environmentally friendly characteristics and wide range of uses.
The market is categorized into three segments according to its application: Cleaning, Water Treatment, Agriculture, Personal Care, Food & Beverages, and Others. The Cleaning segment holds the largest share of the market. The green chelating agent market plays a crucial role in the cleaning industry as it offers efficient and eco-friendly solutions to tackle difficult cleaning tasks.
The market is segmented into two groups according to End-user: Government, Healthcare, Retail, Manufacturing, and Other sectors. With the increasing focus on environmental issues, the demand for green cleaning products is rising. Green chelating agents are anticipated to have a significant impact on the evolution of cleaning methods in different sectors.
Green Chelating Agent Market- Geographical Insights
The market is geographically spread across North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further segmented by countries contributing to business activities. North America leads the market, driven by the rising demand for sustainable solutions and the increasing consumer preference for green products. Many companies in North America have incorporated sustainability into their corporate strategies and supply chain practices. These efforts often involve the implementation of green chemistry principles and the use of environmentally friendly products such as green chelating agents. According to the United States Environmental Protection Agency, since 2018, facilities have reported 3,964 green chemistry and engineering activities for 170 TRI chemicals and chemical categories. Consumers in North America are becoming more environmentally conscious and favor products that are sustainable and eco-friendly. Europe is the second largest region for market growth, attributed to advancements in Green Chemistry.
The competitive landscape of the green chelating agent market is characterized by companies aiming to develop innovative formulations that not only excel in cleaning applications but also comply with stringent environmental regulations. This sector is highly diverse, encompassing aspects such as product innovation, environmental sustainability, regulatory compliance, market expansion, customer relations, pricing, and strategic alliances. Companies that can effectively differentiate their products, demonstrate environmental stewardship and provide value-added services to customers are well-positioned for success in this fiercely competitive market.
BASF's Care Creations is introducing a highly stable, eco-friendly complexing agent called Neutrol(R) MGDA for personal care applications. This agent is easily biodegradable and is distinguished by its outstanding ecological and toxicological characteristics.
Kemira is expediting the transition to renewable solutions with the release of biomass-balanced wet-strength resins for the paper industry. As a prominent provider of sustainable chemical solutions for water-intensive sectors, Kemira is broadening its range of renewable products with the introduction of two new ISCC PLUS certified biomass balanced polymers specifically designed for the papermaking industry: wet strength resins and polyamines.
GLOBAL GREEN CHELATING AGENT MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
AkzoNobel
BASF
Dow Chemical
Kemira
NIPPON SHOKUBAI
Innospec
Jungbunzlauer Suisse
Others