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The global chelating agents market size is projected to reach USD 6,396.9 million by 2027 owing to the increasing demand for chelators in the agro-chemicals sector, states Fortune Business Insights™ in its report, titled “Chelating Agents Market Size, Share & COVID-19 Impact Analysis, By Product Type (Sodium Gluconate, Organophosphonates, EDTA & HEDTA, EDDS, GLDA, IDS & MGDA, NTA, and Glucoheptonates), By Application (Pulp & Paper, Household, Institutional & Industrial Cleaning Product, Chemical Processing, Agrochemicals, Water Treatment, Photo Application, Consumer Product, Textile, Metal), and Regional Forecast, 2020-2027”. The report also states that the global market value was USD 4,757.1 million in 2019 and that the market will register a CAGR of 4.4% from 2020 to 2027.
The COVID-19 pandemic outbreak is expected to quell the growth of this market as the demand for copier paper and printing paper has dramatically dropped due to the closure of educational institutes and commercial spaces. However, the paper used in food packaging applications, the pharmaceutical industry, and personal hygiene products is still experiencing high demand, which will cushion the blow of the pandemic on the chelating agents market growth.
BASF Takes Ups the Sustainability Quotient of Chelation
In July 2019, the German chemical major, BASF, released the Trilon® M Max EcoBalanced, the company’s first renewables-based chelating agent in the Trilon family, created in line with the novel biomass-balance approach. The approach entails the replacement of fossil fuel feedstock with feedstock extracted from renewable sources, such as biogas, at the first stage of production. The Trilon M Max is then deployed onto the feedstock, allowing BASF to fully substitute fossil feedstock with renewables, which in turn will reduce greenhouse gas emissions. With the introduction of Trilon M Max EcoBalanced, BASF will bolster its position in the sustainable chemicals domain.
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High Potential of Chelation Agents in Medical Treatments to Widen Market Scope
Chelation therapy has gained steady momentum over the past few years due to its proven efficacy in removing heavy metals, such as lead, arsenic, mercury, and copper, from the bloodstream. Chelating agents commonly utilized for such treatments include ethylenediaminetetraacetic acid (EDTA), dimercaptosuccinic acid, and dimercaprol. The potential of sequestering agents has also led to the development of chelated minerals that are bound to amino acids or organic acids, meant to boost the body’s intake of the bound mineral. For example, a study conducted by researchers at the Swiss Federal Institute of Technology found that chelated zinc was absorbed approximately 11% more effectively than non-chelated zinc. Furthermore, these compounds can be highly effective in boosting the absorption of minerals in older adults, as proven by researchers from Tartu State University in Estonia and Patolab in Finland in 2015. Thus, the scope of application of sequestering agents in the field of medicine and healthcare is wide and much remains to be explored and researched, augmenting the potential of this market.
Chemical Giants to Aid Global Fight against COVID-19
Several large chemical companies around the globe have been dedicating their facilities, expertise, and capabilities to fight the seemingly endless battle against the coronavirus pandemic. The crisis has given an opportunity to key players in this market to build trust and goodwill among their customers, which will undoubtedly benefit them once the crisis is over. Besides this, leading companies are constantly involved in research & development activities to create novel chelating agents and entrench their market position.
Industry Development:
List of Key Players Covered in this Market Report:
Further Report Findings:
Table of Segmentation
ATTRIBUTE | DETAILS |
Study Period | 2016-2027 |
Base Year | 2019 |
Forecast Period | 2020-2027 |
Historical Period | 2016-2018 |
Unit | Value (USD Million) and Volume (Tons) |
Segmentation | Product Type; Application; and Geography |
By Product Type |
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By Application |
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By Geography |
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