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Global Methanesulphonic Acid Market to Grow at a CAGR of 6% During 2021-2026, Driven by the Rising Demand from the Pharmaceutical Sector
According to a new report by EMR titled, ‘Global Methanesulphonic Acid Market Report and Forecast 2021-2026’, the global market for methanesulphonic acid is expected to grow at a CAGR of 6% in the forecast period of 2021-2026.
The global market for methanesulphonic acid is anticipated to grow in the forecast period owing to the rising applications in various end-use industries. The rising usage of the chemical in pharmaceuticals is expected to drive the market growth. Reduced manufacturing costs and lesser stringent regulations have provided an impetus to the methanesulphonic acid industry growth. Rapid industrialisation is expected to further propel the market growth in the coming years.
In December 2018, BASF SE (OTCMKTS: BASFY), one of the key players in the methanesulphonic acid industry, announced an expansion in its methanesulphonic acid production. The company intended to increase production capacity at its Ludwigshafen site by 65%, increasing the global capacity to 50,000 metric tons per year. According to a statement by Martin Widmann, Global Strategic Marketing and Development, the company is evaluating investment options outside Europe to expand capacities, owing to the rising demand for methanesulphonic acid. Such capacity expansions being undertaken by the key players in the industry is expected to influence the market growth positively.
Market Analysis by Application and Region:
- Based on application, the market can be divided into electroplating, medicine, pesticide, and organic synthesis, among others.
- The regional markets for methanesulphonic acid include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Key Findings of the Report:
- The methanesulphonic acid industry is being driven by the growing demand for the product from the downstream industries.
- Rapidly growing key end use industries like pharmaceuticals are contributing significantly to the market growth, especially in emerging countries.
- Reduced manufacturing costs and fewer stringent environmental regulations are expected to aid market growth.
- The market is expected to witness further expansion in the coming years due to a significant increase in the manufacturing capacities of key industry players.
Key Offerings of the Report:
- The EMR report gives an overview of the global market for methanesulphonic acid for the periods (2016-2020) and (2021-2026).
- The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the applications and major regions of methanesulphonic acid.
- It assesses the regional price trends for the (2016-2020) and (2021-2026) periods.
- The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.
The major players in the global methanesulphonic acid market are Arkema Group, BASF SE, Oxon Italia S.p.A, Shilpa Chemspec International Private Limited, and Varsal Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
About Us:
Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.
EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium-sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.
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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
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