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Wil Methane Sulfonic Acid Market Size Observe Significant Surge during 2015 -2025?
The APEJ and Latin America, in particular, are expected to register relatively faster growth due increasing demand for adhesives and resins and increase in manufacturing units mainly in the emerging economies such as China. MEA is also projected to also expand with a significant CAGR over the forecast period.
Methanesulphonic acid (MSA) is an alkyl sulfonic acid. Methanesulphonic acid can be considered as an intermediate compound between methylsulfonylmethane and sulfuric acid. The acid shows exceptional compatibility in terms of solubility with water and solvents that are oxygenated but is hardly soluble in most of the hydrocarbons. The liquid behaves as a strong acid in aqueous solution. Due to its exceptional solubility and non-volatile nature the compound is used as an acid catalyst in different organic reactions.
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The compound is also used in the formulation of borane on a commercial scale, borane can be formed by reacting sodium borohydride with methanesulphonic acid in an aprotic solvent. Methanesulphonic acid finds application in electrochemical applications where it is used as an appropriate supporting electrolyte. The acid is considered as an environment friendly substitute to the commercial electrolytes used in plating process. The major adoption can be found in lead-acid and zinc cerium flow batteries. The acid is also used as a component in scale and rust removers and is also used in cleaning surface of tiles, ceramics and porcelains.
Methanesulphonic Acid Market: Drivers and Restraints
Globally, methanesulphonic acid is expected to witness steady growth in demand over the forecast period. Increase in consumption of methanesulphonic acid in a variety of applications across a diverse set of industries is expected to drive the growth of market during the forecast period. Anticipated steady growth in key end use industries such as pharmaceuticals, ceramics production, among others coupled with growing application in metal working and fabrication is expected to fuel the demand for methanesulphonic acid.
Also the competitive manufacturing cost and higher growth rates are expected to propelling the demand for methanesulphonic acid. Strategic alliances and acquisition of regional smaller players by established players across the value chain is expected to bolster production capabilities with sound technologies and output of the methanesulphonic acid. Stringent government regulations in many regions and various certifications that the product offerings need to comply with is likely to cause delay in commercialization of products in the market and is thus expected to act as an impediment to growth of methanesulphonic acid market.
Methanesulphonic Acid Market: Region Wise Outlook
The global Methanesulphonic Acid Market is segmented into the seven key regions: North America, Latin America, Western Europe, and Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and Middle East and Africa (MEA). As of 2015. The growth in developed regions such as Western Europe, Japan and North America is expected to be relatively slower as compared to that in regions such as Latin America and APAC. Expansion in industries such as aerospace, automotive, and construction is expected to drive growth in consumption of methanesulfonic acid in these regions during the forecast period. The APEJ and Latin America, in particular, are expected to register relatively faster growth due increasing demand for adhesives and resins and increase in manufacturing units mainly in the emerging economies such as China. MEA is also projected to also expand with a significant CAGR over the forecast period.
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Examples of some of the market participants in the global Methanesulphonic Acid Market identified across the value chain include:
- Arkema Group
- BASF SE
- Oxon Italia S.p.A.
- Langfang Jinshenghui Chemical Co., Ltd
- Shinya Chem
- Xudong Chemical
- Yanuo Chemical
- Zhongke Fine Chemical
- Xingchi Science and Technology
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