The global chelating agents market size is expected to grow from USD 6.8 billion in 2020 to USD 8.4 billion by 2025, at a CAGR of 4.2% during the forecast period. The growth of this market can be attributed to the rising demand for cleaning formulations, such as surface cleaners, all-purpose cleaners, and disinfectants. Also, the rising demand for potable water is also anticipated to drive the growth of the chelating agents market.
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Biodegradable chelating agents to register the fastest growth during the forecast period.
The objective of readily biodegradable chelating agents is to attain sustainability. The demand for cleaning products, such as surface cleaners, detergents, and personal care products, such as soaps, shampoos, and potable water, is continuously on the rise. Growth in consumption of these personal care and cleaning products; the necessity for maintaining proper hygiene at workplaces, homes, and commercial spaces; and safety provided by the product are the major factors propelling the demand for biodegradable chelating agents.
Cleaning to be the fastest-growing application segment.
Chelating agents are used in cleaning formulations for their effective functioning by preventing the minerals prevalent in hard water from meddling with the cleaning process. In addition, chelating agents also improve shelf-life, prevent allergies related to nickel or chromium, maintain color, provide antimicrobial effect, and help in scale removal. The use of chelating agents in cleaning products, such as surface cleaners, all-purpose cleaners, detergents, and disinfectants, is expected to rise owing to the need for maintaining proper personal and surrounding hygiene.
APAC is projected to lead the chelating agents market during the forecast period. Growing population, urbanization, and industrialization are the major drivers for the chelating agents market in the region. Industries, such as pulp & paper, industrial & institutional cleaning, water treatment, oil & gas, textile, pharmaceuticals, agriculture, and personal care, use chelating agents in many applications and also have a major presence in APAC, which is responsible for the large size of the market in the region.
Between 2019 and 2020, the chelating agents market has observed a slow growth rate due to COVID-19 and the consequent complete lockdown across the world. This has led to a decrease in the demand for pulp & paper globally, leading to reduced production. However, an increase in cleaning requirements in this pandemic situation has resulted in rapid growth in the use of cleaning products, such as surface cleaners and detergents. As an overall result of the impact on demand for different applications, the chelating agents market is expected to witness a dip in 2020.
The chelating agents market comprises major players such as BASF (Germany), Dow (US), Nouryon (Netherlands), Kemira Oyj (Finland), Mitsubishi Chemical Holdings Corporation (Japan), Hexion (US), ADM (US), Ascend Performance Materials (US), MilliporeSigma (US), Cargill (US), Nippon Shokubai Co., Ltd. (Japan), Tosoh Corporation (Japan), Bozzetto Group (Italy), AVA Chemicals (India), Zschimmer & Schwarz (Germany), Tate & Lyle (UK), Shandong IRO Chelating Chemicals Co., Ltd. (China), Saanvi Corp (India), Chemtex Speciality Limited (India), Osam Speciality Chemicals Pvt. Ltd. (India), Zhonglan Industries (China), and Macrocyclics (US).
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