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What's driving the Azodicarbonamide Market Trends? | Key Players are Lanxess, SPL Group, Toronto Research Chemicals, Otsuka Chemical Co Ltd., Honeywell International, Arkema
azodicarbonamide market
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From last several years food & beverage industry is increasing with a significant CAGR and shall continue to grow with a same pace during the forecast period. Growth in the food & beverages industry ultimately fuel the product demand in coming years. However, the health risks associated with usage of product in food as a food additive shall hamper the product demand over the forecast period. Moreover, product is used to make the toys and food bottle packing, which used by the children. Owing to this regulatory bodies are likely to impose the more restriction on the product use plastic segment in near future.
Based on product type, azodicarbonamide market divided into two types- industrial quality and food quality. Due to, the health-related concerns food quality azodicarbonamide shall experience a moderate demand over the forecast timeframe. on the other hand, owing to the increasing product applications and growing plastics & rubber industry industrial quality azodicarbonamide will gain the major market share in next few years. On the basis of application, the azodicarbonamide market is segmented into five types includes, plastic additive, blowing agent, food additive, improving agent and flour bleaching agent. Blowing agent application segment shall create a major chunk of demand in near future. This can be attributed to the significantly growing plastic industry.
North America led the azodicarbonamide market in 2017. FDA recommended azodicarbonamide as a food additive, due to which product demand in North America has shown significant growth from last several years. Europe garnered the major market share followed by North America in 2017. This can be attributed to the large food & beverages and plastic industry in the region.
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Many prominent vendors are operating in the industry, include Lanxess, SPL Group, Toronto Research Chemicals, Otsuka Chemical Co Ltd., Honeywell International, Arkema, JingJiang Hangsun Plastic Additives,Kum Yang Co Ltd., Weifang Yaxing Chemical Co., Ltd., Jiangxi Selon Industrial, Abtonsmart Chemicals and Ajanta Group. Other manufacturers working in the industry are SOPO International Co Ltd., S. S. Blow Chem Ltd., HAoxiang Enterprise Limited.
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