Alkyl Sulfonic Acid or Methanesulfonic Acid is considered as an intermediary compound between sulfuric and methylsulfonylmethane acid. With regard to the solubility of solvents and water that are oxygenated yet is barely soluble in most of the hydrocarbons, Methanesulfonic acid shows extraordinary compatibility. The liquid of Methanesulfonic acts as a strong acid in aqueous solution. Its nature is non-volatile and it has extraordinary solubility due to which it is used as an acid catalyst in various organic reactions.
Considering its exceptional significance in the chemical and material industry, the expert team of analysts in QY Research has come up with a full-proof report titled, “Global Methanesulfonic Acid Market Research Report 2019,” for the projected period of 6-years, i.e. during 2019-2025. According to this report, the global Methanesulfonic Acid market is expected to grow at US$ 364.07 Mn in the year 2025 from US$ 209.82 Mn in 2018, registering healthy CAGR of 7.27% throughout the projected period.
Global Methanesulfonic Acid Market: Drivers and Restraints
The demand for Methanesulfonic Acid is anticipated to grow steadily across the globe over the projected period. Growing consumption of Methanesulfonic Acid in various end-use industries is likely to bolster the growth of the market. The key end-use industries such as ceramics production and pharmaceuticals along with few others with rising application in fabrication and metal working are estimated to propel the demand for Methanesulfonic acid. Mergers and acquisitions of local players by top players in the value chain are likely to boost the sound technologies along with production capabilities and thus the output of the Methanesulphonic acid.
However, stringent government regulations and different certifications need to comply for the product offerings is likely to cause a delay in commercialization of products, thus likely to restrain the growth of the global Methanesulfonic Acid market.
Global Methanesulfonic Acid Market: Segmental Analysis
Based on type, the market is segmented into Industrial Grade and Pharmaceutical Grade. Industrial grade segment is likely to lead the market as industrial grade Methanesulfonic acid used in various end-use industries such as polymerization, electroplating, esterification, and electronics due to their superior properties including non-oxidizing and biodegradability. On the basis application, the market is segmented into Organic Synthesis, Electroplating, Medicine, and Others. An increase in demand for electroplating in the fabrication industry is expected to boost the demand for Methanesulfonic Acid.
Global Methanesulfonic Acid Market: Regional Analysis
The growth of the market is comparatively lower in developed regions such as North America, Western Europe, and Japan to that in the Asia Pacific and South America. Particularly, Asia Pacific (Excluding Japan) and South America are likely to exhibit faster growth in order to rising demand for resins and adhesive. The Middle East and Africa region are also expected to register a remarkable CAGR throughout the forecasted period.
Global Methanesulfonic Acid Market: Key Players
Some of the key players operating in the global Methanesulfonic Market are SHINYA CHEM, BASF, Yanuo Chemical, Arkema Group, Jinji Chemical, Oxon Italia, Suning Chemical, Jinshenghui Chemical, Xingchi Science and Technology, and Zhongke Fine Chemical.
Full Report Overview@ https://www.qyresearch.com/index/detail/1173977/global-methanesulfonic-acid-market