Press release
How COVID-19 Impact on Sulfamic Acid Market and How It's Adversely Affecting the World Economy?
Sulfamic Acid
With the emergence of the COVID-19 crisis, the world is fighting a health pandemic as well as an economic emergency, almost impacting trillions of dollars of revenues.
Research Dive' group of skilled analysts provide a solution to help the companies to survive and sustain in this economic crisis. We support companies to make informed decisions based on our findings resulting from the comprehensive study by our qualified team of experts.
Our study helps to acquire the following:
o Long-term and short-term impact of Covid-19 on the market
o Cascading impact of Covid-19 on Sulfamic Acid Market, due to the impact on its extended ecosystem
o Understanding the market behavior Pre- and Post-COVID-19 pandemic
o Strategy suggestions to overcome the negative impact or turn the positive impact into an opportunity
o We'll help you fight this crisis through our business intelligence solutions.
Connect with Our Analyst to Contextualize Our Insights for Your Business: https://www.researchdive.com/connect-to-analyst/160
Pre COVID-19 Analysis of Sulfamic Acid Market -
According to a study conducted by Research Dive, the global sulfamic acid market forecast is expected to reach$7,037.3 million by the end of 2026, registering 3.4% CAGR over the forecast period.
Growing demand for sulfamic acid due to its application in various industrial sectors and increasing demand for cosmetics that contain this chemical is fueling the growth of the Sulfamic acid market.
The key factors hampering the growth of the sulfamic acid market are the concerns related to health as it can cause many diseases such as, cellular level changes and cancer-related issues if used for a prolonged period and stringent government regulations.
The global sulfamic acid market is divided by form into powder and liquid. Among these, the powder sulfamic acid accounted for the highest market value and is projected to reach $3,938.4 million by 2026 growing at a CAGR of 3.2% during the forecast period. This growth is majorly due to the growing usage of powder sulfamic acid in cleaning of water and dyeing and pigment industries. However,liquidaulfamicacid is anticipated to boost the sulfamic acid marketto $3,099.0 million by 2026, growing at a CAGR of 3.7%.
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On the basis of application, theglobal sulfamic acid market is categorized intometal finishing, dyes &pigment, paper &pulp, plastic, and others. Among these, the sulfamic acid market for dyes &pigments application is anticipated to boost the global market to $1,666.5 million by 2026.
This growth is majorly due to the rapid growth in the clothings and other industries.
The global sulfamic acid market has been classified regionally into North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific region held the largest market value of $2,580.4 million in 2018,and is anticipated to reach $3,321.6 million by 2026, at a CAGR of 3.2% during the forecast period.The Europe sulfamic acid market is anticipated to experience growth at a good pace during the forecasted time frame. Europe market is anticipated to reach $1,323.0 million by 2026, growing at a CAGR of 4.0%.
Top gaining participants of global sulfamic acid market are Nissan Chemical, Mingda Chemical, BASF SE, AkzoNobel N.V., DuPont, Jiangsu Yazhong, Palm Commodities, Yantai Sanding, Jiangsu Yazhong,among others. These key participants are concentrating on product improvements, mergers & acquisitions, collaborations and new product
launches to gain majority of the market share in the overall sulfamic acid industry.
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Porter's Five Forces Analysis for Sulfamic Acid Market:
Bargaining power of suppliers: The key players present in this market are huge and the demand for the sulfamic acid is also high, and thus the supplier's power is high.
Bargaining power of consumers: The number of consumers is very high. Due to which the bargaining power of consumers will also be high.
Threat of new entrants: The threat for new entrants is high as the manufacturing price of sulfamic acid is low.
Threat of substitutes: There are many alternatives for Sulfamic Acid, and thus the threat of substitutes low.
Competitive rivalry in the industry: This market includes many market participants. These key players are following similar strategies for the improvement of technologies. The competitive rivalry in the industry is high.
Mr. Abhishek Paliwal
Research Dive
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Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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