Global Methanesulfonic Acid Market

Global Methanesulfonic Acid Market Size, Share, Growth Analysis, By Grade(Pharmaceutical Grade, Industrial Grade), By Application(Electroplating, Pharmaceutical & Medicines) - Industry Forecast 2024-2031

Report ID: SQMIG15A2357 | Region: Global | Published Date: February, 2024
Pages: 242 | Tables: 63 | Figures: 75

Global Methanesulfonic Acid Market News

  • In July 2022, Arkema finalized the acquisition of Permoseal in South Africa, a leader in adhesive solutions for DIY, packaging and construction. Permoseal’s well-known brands will complement Bostik’s offering in the region and strengthen its positions in South Africa’s and Sub-Saharan Africa’s dynamic industrial, construction and DIY markets.
  • In June 2022, Avantor, Inc. a leading global provider of mission-critical products and services to customers in the life sciences, advanced technologies and applied materials industries has entered into an agreement with Gemini Bio to deliver custom hydrated solutions and cell culture media to the biopharma industry.
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Methanesulfonic Acid Market size was valued at USD 706.7 million in 2019 and is poised to grow from USD 739.6 million in 2023 to USD 998.6 million by 2031, growing at a CAGR of 4.8% in the forecast period (2024-2031).

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. 'Arkema SA', 'TCI Chemicals Pvt. Ltd.', 'BASF SE', 'Solvay SA', 'Oxon Italia S.p.A.', 'Alfa Aesar, Thermo Fisher Scientific', 'Langfang Jinshenghui Chemical Co., Ltd.', 'Zhongke Fine Chemical Co., Ltd.', 'Zhongxing Fluo-Silicone Material Technology Co., Ltd.', 'Shinya Chem Co., Ltd.', 'Tokyo Chemical Industry Co., Ltd.', 'Gelest, Inc.', 'Chemos GmbH & Co. KG', 'Loba Chemie Pvt. Ltd.', 'Santa Cruz Biotechnology, Inc.', 'Merck KGaA', 'Honeywell International Inc.', 'UBE Industries, Ltd.', 'Shandong Yaroma Perfumery Co., Ltd.', 'Guangzhou Xijia Chemical Co., Ltd.'

The demand for methanesulfonic acid is anticipated to increase due to expansion in important end-use sectors including pharmaceuticals and ceramics manufacturing. Methanesulfonic acid consumption is rising, particularly among millennials, who are driving the market's expansion. Additionally, due to its outstanding chemical and physical qualities, the acid is utilised as a catalyst in the manufacture of various chemicals and biodiesel, which is anticipated to increase demand for industrial grade methane sulfonic acid in the upcoming years. Strategic partnerships and acquisitions are helping many businesses expand their manufacturing capacity across industries. This has subsequently fuelled the rise of the methanesulfonic acid sector. In the upcoming years, the global methanesulfonic acid market is anticipated to expand due to changing manufacturing prices and a rising applications of methanesulfonic acid. Additionally, the market expansion is being accelerated by the quick industrialization and technology advancements.

The use of methanesulfonic acid in 3D printing technology in soft carbon nanotubules is a new trend that is expected to support the market growth of methanesulfonic acid in the future. Carbon nanotube materials have been used to 3D print shape memory polymers for use in soft robotic applications, and due to their biocompatibility have also been used to 3D print tissue scaffolds. Methanesulfonic (MSA), p-toluene sulfonic (pToS), and oleum acids make up the solvent, which is a special combination of acids that, when combined, are less corrosive than those currently employed in nanotube processing. Solvent that aids in the separation of tangled nanotubes in a solution and the formation of films, fibres, or other materials with outstanding electrical and mechanical properties.

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.

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