Methane Sulfonic Acid Market Research Report – Global Forecast till 2030

Methane Sulfonic Acid Market: Information by Industrial Grade (Industrial and Pharmaceuticals), Application (Esterification, Electroplating, Pharmaceuticals, and Others), and Region (Asia-Pacific, North America, and Others) — Global Forecast till 2030.

ID: MRFR/CnM/5978-HCR | February 2023 | Region: Global | 140 Pages         

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Methane Sulfonic Acid Market

Methane Sulfonic Acid Market is projected to be worth USD 706.7Million by 2021, registering a CAGR of 4.8% during the forecast period (2021 - 2030).

Segmentation
By Industrial Grade Industrial & Pharmaceuticals
Application Esterification Electroplating Pharmaceuticals
Key Players
Companies Profiled   BASF SE (Germany)   Arkema SA (France)    Varsal (US)   TCI Chemicals (India) Pvt. Ltd. (India)   Zhongke Fine Chemical Co.Ltd (China)   HEBEI YANUO Bioscience Co.Ltd (China)   Alfa Aesar (US)    and Avantor Inc.(US)
Drivers
Market Driving Forces   Increasing use in pharmaceutical industries and growing demand for electroplating are boosting market growth.
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Methane Sulfonic Acid Market Overview


Methane Sulfonic Acid Market is projected to be worth USD 706.7Million by 2021, registering a CAGR of 4.8% during the forecast period (2021 - 2030). The global market for methane sulfonic acid has been divided into pharmaceutical grade and industrial grade, based on the product type and based on the application the market has been segmented into electroplating, pharmaceuticals and medicines, organic synthesis, and others. Methane sulfonic acid is a colorless liquid and it is the simplest chemical among the alkyl sulfonic acid. It is hygroscopic in nature when it is in the concentrated form and it is also considered the intermediate compound between the sulfuric acid and methylsulphonylmethane and is used as an acid catalyst in organic reactions and to create borane.


The methane sulfonic acid is used as the initial ingredient in the rust removers and is used to clean off the rust from surfaces, such as tiles, ceramics, and porcelain which generally are sensitive to acid. Growing demand for the rust and scales cleaners is calculated to boost the market growth and it is used as a safer alternative for fiuoroboric acid in electroplating applications. The methane sulfonic acid is also used to synthesize active pharmaceutical agents, such as eprosartan, telmisartan, angiotensin 2 receptor antagonist, and others. However, the acid is highly corrosive and can cause severe burns to the eyes and skin, and it is expected to affect the market growth.


Global Methane Sulfonic Acid Market Share, by Application, 2017 (%)


Methane Sulfonic Acid Market Source: MRFR Analysis


Regional Analysis


The market in Asia-Pacific accounted for the largest share of the global methane sulfonic acid market and is expected to register a significant CAGR during the review period. Growing end-use industries such as pharmaceuticals, electrical and electronics, and transportation is driving the market growth in the region. Expanding industrial base has increased the demand for industrial cleaning products, which, is likely to drive the growth of the global methane sulfonic acid.


Europe is the prominent market for methane sulfonic acid on account of growing preference for biofuel in transportation. Additionally, increased spending on smart and portable consumer electronics is likely to drive the demand for methane sulfonic acid.


North America is another prominent market for methane sulfonic acid owing to increasing use of biofuel in numerous applications including transportation, energy generation, removal of paints and adhesives, and reduction in need for imported oil. Furthermore, growing preference for metal fabrication over plastic fabrication due to superior benefits such as heat resistance and durability is likely to drive the market growth in the region.


The markets in Latin America and the Middle East and Africa are expected to register moderate CAGR on account of growing end-use industries such as pharmaceuticals and electrical and electronics among others.


Segmentation


The global methane sulfonic acid market has been segmented by grade, application, and region.


On the basis of grade, the market has been segmented into industrial grade and pharmaceutical grade.


Based on application, the market has been divided into esterification, electroplating, pharmaceuticals, electronics, industrial cleaning, and others.


By region, the market has been categorized as North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.


Key Players


Some of the key players in the global methane sulfonic acid are 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), Zhongke Fine Chemical Co., Ltd (China), HEBEI YANUO Bioscience Co., Ltd (China), Alfa Aesar (US), and Avantor, Inc. (US).Recent Development


The global market for methane sulfonic acid has global and regional players operating and some of the major players in the acid market include Arkema Groups, Shinya Chem, Xingchi science and technology, BASF SE, Yanuo Chemicals, and others. The market has been divided into North America, Asia Pacific, Latin America, and the Middle East and Africa and according to a study, Asia Pacific holds the largest share in the market attributed to the major demand from the industrial sector. North America is expected to hold a significant share in the market attributed to the continuous developing pharmaceuticals sector.


Intended Audience



  • Methane sulfonic acid manufacturers

  • Traders and distributors of methane sulfonic acid

  • Research and development institutes

  • Potential investors

  • Raw material suppliers

  • Nationalized laboratories



Report Scope:

Report Attribute/Metric Details
  Market Size   2030: Significant Value
  CAGR   CAGR 5.8% (2022-2030)
  Base Year   2021
  Forecast Period   2022 to 2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Segmented by grade, application, and region.
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   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), Zhongke Fine Chemical Co., Ltd (China), HEBEI YANUO Bioscience Co., Ltd (China), Alfa Aesar (US), and Avantor, Inc. (US).
  Key Market Opportunities   Availability of methane sulfonic acid in market is likely to increase its use in various applications.
  Key Market Drivers   Increasing use in pharmaceutical industries and growing demand for electroplating are boosting market growth.


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Frequently Asked Questions (FAQ) :

The methane sulfonic acid market is projected to grow at a 5.8% CAGR between 2018-2023.

Asia Pacific will dominate the methane sulfonic acid market.

It is extensively used in pharmaceuticals, electroplating, and esterification.

Increasing use in pharmaceutical industries and growing demand for electroplating are boosting market growth.