Press release
Chitosan Market - Wide Applications for Water Treatment, Biomedicine | Trends By 2020
Chitosan Market
Rapidly emerging applications of chitosan nanoparticles as potential drug delivery agents are unlocking exciting opportunities for market players. Several clinical studies focus on investigating the efficacy of chitosan derivatives in medical sciences have further expanded their applications. This is also unlocking a number of exciting application areas such as environment-friendly pesticides in agriculture and as skin treatment products in cosmetics.
The global chitosan market is projected to grow at a healthy clip, rising at a CAGR of 17.70% between 2014 and 2020. Expanding at this pace, the market is predicted reach US$4.20 bn by the end of the forecast period.
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Wide Application in Wastewater Treatment
Based on application, the chitosan market is segmented into water treatment, biomedicine & pharmaceutics, industrial, food & beverages, cosmetics, agrochemical, fuel cells, and photographic products. Among these, chitosan have the major application in wastewater treatment. The substantial application is attributed to their attractive coagulation and flocculation properties, low cost and ease of application. The affinity of chitosan for a variety of contaminants make its use suitable as an effective adsorbent organic pollutants from various industrial wastewaters, such as textile wastewaters and pulp and paper mill wastewaters. This is due to the ability of chitosan in adsorbing heavy metal ions.
The market is witnessing a growing number of applications of chitosan in cosmetics. Chitosan, due to significant antifungal and antibacterial properties, are being widely used in making a number of cosmetics products such as hair lotions, face cleanser, body washes, and in various skin protection formulations.
On the other hand, the application segment of biomedical and pharmaceutical is forecast to grow at the leading CAGR over the forecast period. The stellar growth of this segment is driven by the natural antifungal activities of chitosan nanoparticles. Highly purified versions of chitosan are used in making powerful drug excipient owing to their due to their biocompatibility and non-toxicity, which makes it as a natural choice.
Chitosan is also exhibiting promising applications in agriculture, chiefly as agricultural chemicals by helping beneficial microorganisms in soil to thrive and inhibiting the growth of harmful microorganisms. Its application in making various environmental-friendly pesticides is also gaining prominence.
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Asia Pacific to Account for Largest Production while North America tops in Demand for Chitosan
Geographically, the global chitosan market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). Of these, Asia Pacific leads the global market currently and is closely trailed by Europe and North America, in terms of the volume of production of chitosan. A major chunk of growth comes from nations such as Japan and China, since they are the leading producers of chitosan. The demand for chitosan in various application areas is rising in emerging nations of Asia Pacific. On the other hand, the RoW segment is projected to register the leading CAGR over the forecast period; this is projected to be followed by the Asia Pacific market for chitosan.
In terms of demand, North America is expected to supersede all others and emerge as the leading regional market. The substantial demand for chitosan in the region is attributed to the accelerating demand for various cosmetic products in the region and the promising application of chitosan in making various biomedical and pharmaceutical products.
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