USD 706.7 million
Report ID: SQSG15A2015 | Region: Global | Published Date: November, 2022 | Pages: 242 | Tables: 63 | Figures: 75
Global Methanesulfonic Acid Market size was valued at USD 706.7 million in 2021 and is poised to grow from USD 739.6 million in 2022 to USD 998.6 million by 2030, growing at a CAGR of 4.8% in the forecast period (2023-2030).
Methanesulfonic acid is a substance that lies in between sulfuric acid and methyl sulfonyl methane. When it comes to solubility, the acid has great compatibility with water and oxygenated solvents, but it is hardly soluble in most hydrocarbons.
The compound behaves in aqueous solution like a potent acid. The substance serves as an acid catalyst in a variety of organic reactions because of its remarkable solubility and non-volatile nature. Commercially, sodium borohydride and methanesulfonic acid can be combined to create borane by reacting with the substance in an aprotic solvent. When utilised as a suitable supporting electrolyte, it has uses in electrochemical processes. The commercial electrolytes used in the plating process can be replaced with the acid in a way that is more environmentally friendly. Lead-acid and zinc cerium flow batteries are the main applications. The acid is also used to clean the surface of tiles, ceramics, and porcelain as well as a component in scale and rust removers.
US Methanesulfonic Acid Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 706.7 million
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Methanesulfonic Acid Market is segmented by product, application, and region. On the basis of Product, the Methanesulfonic Acid Market is segmented into pharmaceutical grade, Industrial grade. On the basis of application, the Methanesulfonic Acid Market is segmented into Electroplating, Pharmaceutical & Medicines, Organic Synthesis, Others. On the basis of Region, the global Methanesulfonic Acid Market is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Methanesulfonic Acid Market Analysis by Product
On the basis of Product, the market is segmented into pharmaceutical grade, Industrial grade. The industrial-grade segment held the larger market share. The substance behaves in an aqueous solution like a potent acid. The substance serves as an acid catalyst in a variety of organic reactions because of its remarkable solubility and non-volatile nature. Commercially, sodium borohydride and methanesulfonic acid can be combined to create borane by reacting with the substance in an aprotic solvent. And it is also used in the pharmaceutical industry due to its non-volatile nature and solubility in organic solvents properties.
Methanesulfonic Acid Market Analysis by Application
On the basis of application, the market is segmented into Electroplating, Pharmaceutical & Medicines, Organic Synthesis, Others. Among all segments, the segment of Electroplating held the larger share in market. When utilized as a suitable supporting electrolyte, methanesulfonic acid has uses in electrochemical processes. The commercial electrolytes used in the plating process can be replaced with the acid in a way that is more environmentally friendly. Lead-acid and zinc cerium flow batteries are the main applications. The acid is also used to clean the surface of tiles, ceramics, and porcelain as well as a component in scale and rust removers.
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Asia Pacific held the largest Global Methanesulfonic Acid Market share. The expansion of the market in the region is being driven by expanding end-use sectors like medicines, electrical and electronics, and transportation. The need for industrial cleaning products has grown as a result of an expanding industrial base, and this demand is projected to fuel the expansion of the global methane sulfonic acid market.
A growing desire for biofuel in transportation has made Europe the main market for methane sulfonic acid. The demand for methane sulfonic acid is also probably being driven by rising spending on smart and portable consumer devices.
North America is another important region for methanesulfonic acid market because to the rising use of biofuel in a variety of applications such as transportation, energy generation, paint and adhesive removal, and reduced reliance on imported oil. As a result of greater advantages such heat resistance and durability, metal fabrication is more preferred over plastic fabrication, which is projected to fuel market expansion in the area.
A moderate CAGR is projected for the businesses in Latin America, the Middle East, and Africa due to the rapid growth of end-use sectors such electronics, medicines, and the pharmaceutical industry.
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Global methanesulfonic acid market is highly competitive. As a result, the global market has been witnessing the constant entry of new players over the years. In order to sustain the highly competitive environment, existing players differentiate themselves through innovation, quality, and technology. Companies are focusing on mergers and acquisitions and partnerships, research and development, and collaborations to survive in the competitive environment.
Methanesulfonic Acid Market Top Players Company Profiles
Methanesulfonic Acid Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our business information services team that collects, collates, co-relates and analyses the data collected by means of primary exploratory research backed by robust secondary desk research.
According to our Global Methanesulfonic Acid Market analysis, the region of Asia Pacific has a lead over other regions, dominance of North America can be attributed to rising medical and electronics and transportation industry spending and increasing technological advancements. The need for industrial cleaning products has grown as a result of an expanding industrial base, and this demand is projected to fuel the expansion of the global methane sulfonic acid market. On the other hand, on the basis of segment, the industrial segment held the larger market share. According to application, the segment of electroplating industry is the fastest-growing segment due to growing demand for methanesulfonic acid for the removal of rust from metals and its electricity conductivity.
|Market size value in 2021||USD 706.7 million|
|Market size value in 2030||USD 739.6 million|
|Forecast Unit (Value)||USD Million|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Methanesulfonic Acid Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Methanesulfonic Acid Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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