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Methanesulfonic acid also abbreviated as MsOH is a colorless liquid and is the simplest chemical amongst the alkylsulfonic acids. In the concentrated form it is hygroscopic in nature. It is considered as the intermediate compound between the sulfuric acid and methylsulphonylmethane. It is used as an acid catalyst in organic reactions and to generate borane (BH3).
Methanesulfonic acid is primary ingredients in the rust removers. It is used to clean off rust from surfaces like ceramics, tiles, and porcelain which generally are sensitive to acids. Increasing demand from industrial sector for rust and scales cleaners is expected to boost the market growth. It is also used as a safer alternative for fluoroboric acid in electroplating applications. Additionally, it is also used to synthesize active pharmaceutical agents like Telmisartan, Angiotensin II receptor antagonist, Eprosartan, and others.
However, the methanesulfonic acid is highly corrosive liquid. It can cause severe burns to skin and eyes. This is expected to limit the market growth.
Key Market Driver -
increasing demand from industrial and pharmaceutical sector.
Key Market Restraint -
Highly corrosive liquid.
Based on product type, the global methanesulfonic acid market is segmented into pharmaceutical grade and industrial grade. Based on application, is segmented into electroplating, pharmaceuticals & medicines, organic synthesis, and others.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The global methanesulfonic Acid market consists of global & regional players operating. Some of the key players in the market include Arkema Group, Oxon Italia S.p.A., Shinya Chem, Yanuo Chemical, Xingchi Science and Technology, BASF SE, Langfang Jinshenghui Chemical Co., Ltd, Xudong Chemical, Zhongke Fine Chemical, and others.
The market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is anticipated to hold the largest share in market attributed to the high demand from industrial sector. North America is expected to hold significant share in market attributed to the rapidly developing pharmaceutical sector. Increasing demand for active pharmaceutical agents shall boost the regional market. Europe is expected to show considerable growth attributed to the increasing demand from industrial sector for electroplating applications. Latin America and Middle East & Africa shall exhibit sluggish growth by the end of forecast period.
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