Technavio analysts forecast the global cyanuric acid market to grow at a CAGR of nearly 4% during the forecast period, according to their latest market research report.
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Technavio has released a new market research report on the global cyanuric acid market for the period 2018-2022 (Graphic: Business Wire)
Customization and product specification is one of the major trends being witnessed in the global cyanuric acid market 2018-2022. Few vendors offer customization and product specification to the end-users, which is expected to significantly drive the growth of the market in the coming years. Powdered form, granular form, tablet form, and pellets are the various forms of cyanuric acid. The dry cyanuric acid, liquid cyanuric acid as well as the powdered form of cyanuric acid can be used depending on the end-user application and purpose.
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According to Technavio analysts, one of the key factors contributing to the growth of the global cyanuric acid market is the superior properties of cyanuric acid:
Global cyanuric acid market: Superior properties of cyanuric acid
At 330° C, cyanuric acid exists as a white crystalline substance that readily depolymerizes into cyanic acid and isocyanic acid. The saturated form of cyanuric acid exists at a pH value of 4.0. Cyanuric acid is highly soluble in water, hot water, ketone, pyridine, concentrated hydrochloric acid, and sulfuric acid. Additionally, cyanuric acid is suitable for use in many applications such as chemical synthesis, water treatment, a disinfecting agent in textile fabric, selective herbicide, metal cyaniding moderator, cosmetic additives, polyester fire retardant, and agricultural fertilizers owing to its unique properties. Cyanuric acid is effectively used as a chlorine stabilizer and a precursor to manufacture chlorinated cyanurates, cyanuric salt, derivative, and a crosslinking agent.
According to a senior analyst at Technavio for research on specialty chemicals, "Cyanuric acid's superior properties allow it to be extensively used in a variety of applications across various industries. End-users such as the agricultural sector for manufacturing chemical fertilizers, paints and coatings, chemical industry, wastewater treatment, textile industry, and cosmetic industry as an additive, constantly demand cyanuric acid. Thus, factors such as the superior properties of cyanuric acid combined with the growing use by various end-users are expected to drive the growth of the market during the forecast period."
Global cyanuric acid market: Segmentation analysis
The global cyanuric acid market research report provides market segmentation by application (chemical synthesis and water treatment), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The chemical synthesis segment held the largest market share in 2017, accounting for over 42% of the market. This application segment is expected to dominate the global market throughout the forecast period.
APAC led the market in 2017 with a market share of nearly 44%. This region is expected to dominate the market through 2022.
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Five Forces Analysis
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- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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