USD 706.7 million
Methanesulfonic Acid Market Size, Share, Growth Analysis, By Grade(Pharmaceutical Grade, Industrial Grade), By Application(Electroplating, Pharmaceutical & Medicines, Organic Synthesis, Others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15A2357 |
Region:
Global |
Published Date: February, 2024
Pages:
242
|Tables:
63
|Figures:
75
Methanesulfonic Acid Market Insights
Methanesulfonic Acid Market size was valued at USD 706.7 million in 2019 and is poised to grow from USD 739.6 million in 2023 to USD 998.6 million by 2031, growing at a CAGR of 4.8% in the forecast period (2024-2031).
Methanesulfonic acid is a substance that lies in between sulfuric acid and methyl sulfonyl methane. When it comes to solubility, the acid has great compatibility with water and oxygenated solvents, but it is hardly soluble in most hydrocarbons.
The compound behaves in aqueous solution like a potent acid. The substance serves as an acid catalyst in a variety of organic reactions because of its remarkable solubility and non-volatile nature. Commercially, sodium borohydride and methanesulfonic acid can be combined to create borane by reacting with the substance in an aprotic solvent. When utilised as a suitable supporting electrolyte, it has uses in electrochemical processes. The commercial electrolytes used in the plating process can be replaced with the acid in a way that is more environmentally friendly. Lead-acid and zinc cerium flow batteries are the main applications. The acid is also used to clean the surface of tiles, ceramics, and porcelain as well as a component in scale and rust removers.
US Methanesulfonic Acid Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Industrial Grade
Fastest Growth
Pharmaceutical Grade
Growth Rate
4.8% CAGR
Global Methanesulfonic Acid Market, 2021-2028($ Bn)
Country Share for North America Region- 2021 (%)
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Methanesulfonic Acid Market Segmental Analysis
Methanesulfonic Acid Market is segmented by product, application, and region. On the basis of Grade, the Methanesulfonic Acid Market is segmented into pharmaceutical grade, Industrial grade. On the basis of application, the Methanesulfonic Acid Market is segmented into Electroplating, Pharmaceutical & Medicines, Organic Synthesis, Others. On the basis of Region, the global Methanesulfonic Acid Market is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Methanesulfonic Acid Market Analysis by Grade
On the basis of Grade, the market is segmented into pharmaceutical grade, Industrial grade. The industrial-grade segment held the larger market share. The substance behaves in an aqueous solution like a potent acid. The substance serves as an acid catalyst in a variety of organic reactions because of its remarkable solubility and non-volatile nature. Commercially, sodium borohydride and methanesulfonic acid can be combined to create borane by reacting with the substance in an aprotic solvent. And it is also used in the pharmaceutical industry due to its non-volatile nature and solubility in organic solvents properties.
Methanesulfonic Acid Market Analysis by Application
On the basis of application, the market is segmented into Electroplating, Pharmaceutical & Medicines, Organic Synthesis, Others. Among all segments, the segment of Electroplating held the larger share in market. When utilized as a suitable supporting electrolyte, methanesulfonic acid has uses in electrochemical processes. The commercial electrolytes used in the plating process can be replaced with the acid in a way that is more environmentally friendly. Lead-acid and zinc cerium flow batteries are the main applications. The acid is also used to clean the surface of tiles, ceramics, and porcelain as well as a component in scale and rust removers.
Global Methanesulfonic Acid Market By Product , 2021(%)
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Methanesulfonic Acid Market Regional Insights
Asia Pacific held the largest Global Methanesulfonic Acid Market share. The expansion of the market in the region is being driven by expanding end-use sectors like medicines, electrical and electronics, and transportation. The need for industrial cleaning products has grown as a result of an expanding industrial base, and this demand is projected to fuel the expansion of the global methane sulfonic acid market.
A growing desire for biofuel in transportation has made Europe the main market for methane sulfonic acid. The demand for methane sulfonic acid is also probably being driven by rising spending on smart and portable consumer devices.
North America is another important region for methanesulfonic acid market because to the rising use of biofuel in a variety of applications such as transportation, energy generation, paint and adhesive removal, and reduced reliance on imported oil. As a result of greater advantages such heat resistance and durability, metal fabrication is more preferred over plastic fabrication, which is projected to fuel market expansion in the area.
A moderate CAGR is projected for the businesses in Latin America, the Middle East, and Africa due to the rapid growth of end-use sectors such electronics, medicines, and the pharmaceutical industry.
Global Methanesulfonic Acid Market By Geography, 2021 - 2028
- Largest
- Fastest
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Methanesulfonic Acid Market Dynamics
Methanesulfonic Acid Market Driver
- The demand for methanesulfonic acid is anticipated to increase due to expansion in important end-use sectors including pharmaceuticals and ceramics manufacturing. Methanesulfonic acid consumption is rising, particularly among millennials, who are driving the market's expansion. Additionally, due to its outstanding chemical and physical qualities, the acid is utilised as a catalyst in the manufacture of various chemicals and biodiesel, which is anticipated to increase demand for industrial grade methane sulfonic acid in the upcoming years. Strategic partnerships and acquisitions are helping many businesses expand their manufacturing capacity across industries. This has subsequently fuelled the rise of the methanesulfonic acid sector. In the upcoming years, the global methanesulfonic acid market is anticipated to expand due to changing manufacturing prices and a rising applications of methanesulfonic acid. Additionally, the market expansion is being accelerated by the quick industrialization and technology advancements.
- Many of the metal salts can be dissolved by methanesulfonic acid at concentrations that are significantly greater than those of hydrochloric or sulfuric acid. Typically, nitric acid, hydrogen peroxide, chlorine, or electrochemical methods are used to oxidise methylthiol or dimethyl disulfide to produce it. This substance is produced when thiocyanate methyl is exposed to nitrate. Nitric acid and negative water are carefully heated to 80–88 °C with fractional additions of methyl thiocyanate, and the temperature is then automatically increased to around 105 °C. The reaction was heated to 120° C and continued to react for 5 hours to produce a crude product thus due to these properties it is been widely used as a solvent in industries.
Methanesulfonic Acid Market Restraint
- The global methanesulfonic acid market has several challenges to its expansion, including strict permit requirements, permission expiration dates, residual management issues, and barriers to new enterprises entering the industry. The expansion of the methanesulfonic acid market is anticipated to be hampered by the strict government restrictions in many places and the multiple certifications that product offerings must meet. These factors are projected to limit the commercialization of products in the methanesulfonic acid market.
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Methanesulfonic Acid Market Competitive Landscape
Global methanesulfonic acid market is highly competitive. As a result, the global market has been witnessing the constant entry of new players over the years. In order to sustain the highly competitive environment, existing players differentiate themselves through innovation, quality, and technology. Companies are focusing on mergers and acquisitions and partnerships, research and development, and collaborations to survive in the competitive environment.
Methanesulfonic Acid Market Top Players Company Profiles
- Arkema SA
- TCI Chemicals Pvt. Ltd.
- BASF SE
- Solvay SA
- Oxon Italia S.p.A.
- Alfa Aesar, Thermo Fisher Scientific
- Langfang Jinshenghui Chemical Co., Ltd.
- Zhongke Fine Chemical Co., Ltd.
- Zhongxing Fluo-Silicone Material Technology Co., Ltd.
- Shinya Chem Co., Ltd.
- Tokyo Chemical Industry Co., Ltd.
- Gelest, Inc.
- Chemos GmbH & Co. KG
- Loba Chemie Pvt. Ltd.
- Santa Cruz Biotechnology, Inc.
- Merck KGaA
- Honeywell International Inc.
- UBE Industries, Ltd.
- Shandong Yaroma Perfumery Co., Ltd.
- Guangzhou Xijia Chemical Co., Ltd.
Methanesulfonic Acid Market Recent Developments
- In July 2022, Arkema finalized the acquisition of Permoseal in South Africa, a leader in adhesive solutions for DIY, packaging and construction. Permoseal’s well-known brands will complement Bostik’s offering in the region and strengthen its positions in South Africa’s and Sub-Saharan Africa’s dynamic industrial, construction and DIY markets.
- In June 2022, Avantor, Inc. a leading global provider of mission-critical products and services to customers in the life sciences, advanced technologies and applied materials industries has entered into an agreement with Gemini Bio to deliver custom hydrated solutions and cell culture media to the biopharma industry.
Methanesulfonic Acid Key Market Trends
- The use of methanesulfonic acid in 3D printing technology in soft carbon nanotubules is a new trend that is expected to support the market growth of methanesulfonic acid in the future. Carbon nanotube materials have been used to 3D print shape memory polymers for use in soft robotic applications, and due to their biocompatibility have also been used to 3D print tissue scaffolds. Methanesulfonic (MSA), p-toluene sulfonic (pToS), and oleum acids make up the solvent, which is a special combination of acids that, when combined, are less corrosive than those currently employed in nanotube processing. Solvent that aids in the separation of tangled nanotubes in a solution and the formation of films, fibres, or other materials with outstanding electrical and mechanical properties.
Methanesulfonic Acid Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our business information services team that collects, collates, co-relates and analyses the data collected by means of primary exploratory research backed by robust secondary desk research.
According to our Global Methanesulfonic Acid Market analysis, the region of Asia Pacific has a lead over other regions, dominance of North America can be attributed to rising medical and electronics and transportation industry spending and increasing technological advancements. The need for industrial cleaning products has grown as a result of an expanding industrial base, and this demand is projected to fuel the expansion of the global methane sulfonic acid market. On the other hand, on the basis of segment, the industrial segment held the larger market share. According to application, the segment of electroplating industry is the fastest-growing segment due to growing demand for methanesulfonic acid for the removal of rust from metals and its electricity conductivity.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 706.7 million |
| Market size value in 2031 | USD 998.6 million |
| Growth Rate | 4.8% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Methanesulfonic Acid Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Methanesulfonic Acid Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Methanesulfonic Acid Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Methanesulfonic Acid Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Methanesulfonic Acid Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Methanesulfonic Acid Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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