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  • 22 April 2019 21:25

Revenue Growth Of Mexico In The North America Methanesulfonic Acid Market Is Expected To Increase Moderately During The Forecast Period

Methanesulfonic Acid Market By Type (Industrial Grade, Pharmaceutical Grade) By Application (Electroplating, Medicines, Organic Synthesis, Others) And Region - North America Forecast To 2026

Introduction:

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). It has broad applications in the field of electroplating, and has proven to be an excellent alternative of fluoride boric acid and phenolsulfonic acid.

North America Methanesulfonic Acid Dynamics:

Consumption of consumer electronics and appliances such as laptops, smartphones, washing machines, cooking appliances, and others, owing to increasing disposable income and hectic lifestyle, is on the rise. Consumer electronics and appliances require electroplating to prevent abrasion, corrosion, wear and tear, and also to increase lifespan of products. Increasing usage of Methanesulfonic Acid Market is directly proportional to 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.

Analysis By Segmentation:

The electroplating application segment is expected to be the largest segment with a revenue US$ 14.5 Mn in 2017, and is expected to continue its dominance during the forecast period, owing to factors such as its high-performance as an alternative acid, which protects against corrosion when used in pre-esterification process, as opposed to inorganic acids such as hydrochloric acid and sulfuric acid.

The methanesulfonic acid market in the US is estimated to account for major revenue share of US$ 27.3 Mn in 2017 and is expected to register a highest CAGR in next ten years. The market in Canada is estimated to account for second highest revenue share in the global market.

Key players operating in the North America methanesulfonic acid market include 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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