New York City, NY: Jun 18, 2019 – Published via (Wired Release) – Methanesulfonic acid, also referred as MSA, is a strong caustic acid and the simplest form of the alkylsulfonic acids. It is a hygroscopic colourless liquid with the chemical formula CH3SO3H. It is highly soluble in water and oxygenated solvents, but mildly soluble in most hydrocarbons and insoluble in alkanes, benzene, and toluene. In aqueous solution, it is a strong acid (completely ionized). Its applications include electroplating, pharmaceuticals, chemical synthesis, solvent, catalysis, and esterification, polymerization reaction, and others.
The North America methanesulfonic acid market was valued at nearly US$ 37 Mn in 2016 and is expected to register a CAGR of 6.2% from 2017 to 2026. The first five-year cumulative revenue (2017–2021) is projected to be US$ 0.2 Bn, which is expected to increase significantly over the latter part of the five-year forecast period.
Increasing consumption of consumer electronics and appliances such as laptops, smartphones, washing machines, cooking appliances, and others, require electroplating to prevent abrasion, corrosion, wear and tear, and also to increase lifespan of products. Growth of methanesulfonic acid market is correlated with the expansion of consumer appliances and electronics market in countries in North America, and demand for various products used in the kitchen has been witnessing a significant increase owing to changing preference from commercially produced and processed food products to more of home cooked meals etc.
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North America Methanesulfonic Acid Market: Market Forecast
The comprehensive research report comprises a complete forecast of the North America methanesulfonic acid market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the North America methanesulfonic acid market is expected to expand at a CAGR of 6.2% during the forecast period.
North America Methanesulfonic Acid Market: Segmental Snapshot
The market report has been segmented on the basis of type, application, and region. The type segment includes industrial grade and pharmaceutical grade. The application segment includes electroplating, medicines, organic synthesis and others. The counties covered in the analysis are the US, Canada, and Mexico.
By type: The industrial grade segment accounted for highest revenue share contribution as compared to other segments, and is expected to register a CAGR of over 6% between 2017 and 2026, owing to its high adoption for electroplating and industrial cleaning purposes.
By application: The electroplating segment is projected to account for highest revenue share as compared to that of other application segment, and register a CAGR of over 6% over the forecast period, owing to its non-toxic for high speed electroplating properties, minimal sludge production, and low energy usage.
By country: The market in the US accounted for highest revenue share in the methanesulfonic acid market in 2016, and is expected to register a CAGR of over 6% between 2017 and 2026, owing to the presence of prominent players in the region.
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North America Methanesulfonic Acid Market: Competitive Analysis
The research report on the North America Methanesulfonic Acid market includes profiles of some of major companies such as BASF SE, Arkema S.A, Sigma-Aldrich Corp. (Merck Group), Varsal Inc., Langfang Jinshenghui Chemical Co., Ltd., Zhongke Fine Chemical Co., Ltd., and Taizhou Suning Chemical Co., Ltd.
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