Dicyandiamide Market Size ,Growth Research Report 2024-2032 | 250 Pages

The market value for Dicyandiamide Market was USD 450.4 Million in 2022 and is expected to reach USD 698.2 Million in 2032 growing at a CAGR of 4.1% during the forecast period. The demand for dicyandiamide in the agricultural sector, the increase in demand for chemicals used in water treatment, and the rising use of dicyandiamide in the pharmaceutical industry are the main drivers of revenue growth.

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Market Trends

The increasing demand for dicyandiamide in the pharmaceutical industry is a key driver of market growth. Dicyandiamide is a raw material for the production of biguanides, a class of drugs used to treat type 2 diabetes. The rising prevalence of diabetes globally is expected to continue to propel the demand for dicyandiamide in the coming years [5].

Another major driver of the market is the growing demand for flame retardants. Dicyandiamide is used in the production of flame retardants for electronic devices, furniture, and building materials. The increasing focus on fire safety regulations is expected to boost the demand for dicyandiamide in flame retardant applications [4].

Market Restraints

The dicyandiamide market is somewhat restrained by the volatility of raw material prices. Dicyandiamide is produced from cyanamide, which is derived from calcium carbide. The price of calcium carbide can fluctuate depending on the cost of energy and other factors [1].

Growth Opportunities

The growing demand for sustainable agriculture practices presents an opportunity for the dicyandiamide market. Dicyandiamide can be used as a slow-release fertilizer, which can help to improve nutrient use efficiency and reduce environmental pollution [3].

SWOT Analysis

Strengths
Versatile chemical compound with a wide range of applications
Growing demand in the pharmaceutical and flame retardant industries

Weaknesses
Volatility of raw material prices

Opportunities
Growing demand for sustainable agriculture practices
Increasing demand in developing countries

Threats
Stringent environmental regulations

Latest Strategic Developments

In 2021, BASF SE expanded its dicyandiamide production capacity at its Ludwigshafen site in Germany by 60,000 metric tons per year. This expansion aimed to meet the growing demand for dicyandiamide in the European market.

In 2020, AlzChem Group AG announced a joint venture with Chinese company NCBI, aimed at expanding AlzChem's presence in the Asian market. This partnership will allow AlzChem to offer its range of dicyandiamide products to the Asian market.

In 2020, Nippon Carbide Industries Co., Inc. announced that it had successfully developed a new process for producing high-purity dicyandiamide. The new process aims to improve the quality of dicyandiamide produced and will be beneficial in the production of advanced materials.

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Key Market Insights :

The Dicyandiamide Market has been divided into powdered, granular, and solution segments based on product type. In 2023, the powdered segment is expected to have the highest revenue share of all of these. This is due to the increasing demand for powdered dicyandiamide from several sectors, including medicines, the chemical industry, and agriculture. Due to its capacity to regulate the release of nitrogen into the soil, which increases crop yields, dicyandiamide is frequently employed as a slow-release Nitrogen Fertilizer in agriculture. In addition, the powdered form is used to create several compounds, including guanidine and Melamine, which are used to make adhesives, resins, and Plastics. The increased demand for dicyandiamide is partly a result of its ease of handling and storage compared to other forms, of such solution.

 Dicyandiamide, commonly referred to as cyanoguanidine, is a white crystalline solid used in a variety of products, including flame retardants, water treatment products, medicines, and fertilizers. The application-based segmentation of the global Dicyandiamide Market results in distinct revenue shares and growth drivers for each sector.One of the most important Dicyandiamide Markets in the world is the area of fertilizers. The use of dicyandiamide in fertilizers contributes to a decrease in soil nitrogen loss and an increase in crop production. The need for fertilizers is increasing along with population growth because of the growing food consumption. In turn, this is expected to drive dicyandiamide demand in the fertilizers market, resulting in revenue growth.

The Dicyandiamide Market has shown substantial growth over the years and is expected to keep expanding over the expected time frame. North America, Europe, Asia Pacific, Middle East & Africa, and South America are some of the geographical segments that make up the market.

Some of the major companies operating in the global Dicyandiamide market include:

AlzChem Group AG
BASF SE
Sanwei Fengrun Chemical
Ningxia Darong Chemicals & Metallurgy
Jiangsu Guotai International Group
Suzhou Yingke Biotechnology Co. Ltd.
Jining Hongxing Chemical Co. Ltd.
Zhejiang Jiahua Energy Chemical Industry Co. Ltd.
Nippon Carbide Industries Co., Inc.
OCI Nitrogen
Sinochem Lantian Co. Ltd.

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