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

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.