Methane Sulfonic Acid Market 2023: BASF SE (Germany), Arkema SA (France), Varsal (US), Shilpa Chemspec International Pvt. Ltd. (India), TCI Chemicals (India) Pvt. Ltd. (India), Langfang Jinshenghui Chemical Co., Ltd (China)
Methane sulfonic acid is a strong odorless organic acid, primarily used as a catalyst in applications including esterification, alkylation, and polymerization. It is a naturally occurring organic acid and can also be produced from the chemical oxidation of dimethyl sulphide.
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The global methane sulfonic acid market has been segmented by grade, application, and region. Based on grade, the market has been segmented into industrial grade and pharmaceutical grade. Industrial grade methane sulfonic acid finds use in numerous applications including electroplating, electronics, esterification, and polymerization owing to their superior properties such as biodegradability and non-oxidizing. Pharmaceutical grade methane sulfonic acid is used in pharmaceuticals industry to manufacture active pharmaceutical ingredients.
Based on application, the market has been divided into esterification, electroplating, pharmaceuticals, electronics, industrial cleaning, and others. Esterification is a processed used in manufacturing plasticizers and biofuels. Methane sulfonic acid is being widely used as a catalyst in esterification process to accelerate the transformation process. Electroplating is another significant application of methane sulfonic acid due to less corrosiveness and low carbon content. The surge in demand for electroplating in fabrication is likely to fuel the demand for methane sulfonic acid. The product consumption is increasing in pharmaceuticals owing to biodegradability property possessed by it.
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Based on region, the global methane sulfonic acid market has been segregated into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The market in Asia-pacific accounted for the largest share of the global methane sulfonic acid in 2017 and is expected to register a significant CAGR during the review period. Expanding industrial base in the region is driving the demand for methane sulfonic acid in numerous applications.
The markets in North America and Europe are the prominent markets for global methane sulfonic acid market on account of increasing use in pharmaceuticals. Additionally, growing preference for biofuel in transportation and energy generation on account of increasing environmental regulations is likely to propel the market growth.
The market in Latin America and the Middle East and Africa are expected to register moderate CAGR during the review period on account of growing industrial base coupled with increasing per capita disposable income of the consumers.
Some of the key players in the global methane sulfonic acid are TCI Chemicals (India) Pvt. Ltd. (India), Arkema SA (France), Varsal (US), Shilpa Chemspec International Pvt. Ltd. (India), BASF SE (Germany), Langfang Jinshenghui Chemical Co., Ltd (China), HEBEI YANUO Bioscience Co., Ltd (China), Zhongke Fine Chemical Co., Ltd (China), Avantor, Inc. (US), and Alfa Aesar (US).
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