Albany, NY, Nov. 17, 2014 (GLOBE NEWSWIRE) -- The report states that the global demand for chelating agents was worth approximately US$3.59 billion, and 970.0 kilo tons in terms of volume, in 2012. Growing at a modest CAGR of 3.2% during the forecast period, the global chelating agents market is anticipated to acquire a net worth of approximately US$4.48 billion by 2019.
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The report states that the rising demands for chelating agents from end-user industries such as pulp and paper and cleaning and detergent would fuel the future growth of the overall chelating agents market. Furthermore, factors such as stringent government policies regarding clean and fresh water and the rapid rate of industrialization throughout the globe have resulted in enhanced growth prospects for the global chelating agents market.
However, certain factors such as rising derogatory impact on the environment with certain non-biodegradable varieties of chelating agents, the EDTA for instance, could hamper the growth of the global chelating agents market in the coming years. But this factor could serve as a growth opportunity for the development of innovative, eco-friendly, and safer varieties of chelating agents such as citric acid and gluconates.
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Amongst the variety of chelating agents available in the market, ACPAs accounted for nearly 39% share of the global market in 2012. Owing to the significant applications of APCAs such as EDTA in a number of industrial and household applications, the demand for this market segment remained high in the past. However, concerns regarding ill-effects of EDTAs on the environment have also increased over the years, leading manufacturers to shift their preference towards the manufacturing of safer chelating agents such as gluconates. This has led to increased importance of sodium gluconates in the past years and the trend is expected to rule the industry over the coming years as well. The market segment sodium gluconates is expected to witness growth at the fastest pace during the forecast period.
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Amongst the important application areas of the global chelating agents market, the segment pulp and paper industry acquired a major share of the demand on a global front in 2012. The agrochemical industry is expected to witness fastest growth during the forecast period due to government initiatives such as Integrated Nutrient Management and Integrated Pest Management by a number of countries. Use of chelating agents is expected to rise at a CAGR of 3.7% in the agrochemical industry during the forecast period.
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A large number of chelating agents' manufacturers reside in the Asia-Pacific regions owing to which, the chelating agents market in this region was valued at approximately US$1,441.2 million in 2012.
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