Albany, NY -- (SBWIRE) -- 10/22/2018 -- The global dicyandiamide market is prophesied in a report by Transparency Market Research (TMR) to hold a consolidated nature with China holding scores of manufacturing companies operating in the industry. AlzChem Group AG is one of the few companies of the market that has a manufacturing facility outside Asia Pacific. It flaunts a higher capacity of 20,000 tons per annum. Most of the market is researched to be import-based, where dicyandiamide is either procured through importers or traders or manufacturers in Germany and China. While Chinese companies do not use any brand name to sell their products, AlzChem Group uses Tropharm, Dyhard, and other brand names.
TMR prognosticates the global dicyandiamide market to reach a US$0.5 bn by the end of 2025 while rising at an 8.5% CAGR during the forecast tenure 2018-2026. In 2017, the market scored a US$0.2 bn valuation. On the basis of grade, pharmaceutical could take a leading position in the coming years. By region, Asia Pacific is predicted to dominate the market, considering its 50.0% share achieved in 2017.
Dicyandiamide Collects Demand in Manufacture of Preferred Type 2 Diabetes Drug
One of the commonly used drugs for treating type 2 diabetes, metformin is manufactured with the use of dicyandiamide. 90.0% of all diabetes cases are accounted by type 2 diabetes, which is counted among the most common diseases around the world. There could be increasing demand for dicyandiamide in Asia Pacific because the region is reputed for being in a leading position when it comes to metformin production and export. Dicyandiamide plays the role of an intermediate in the production of melamine, adhesives, coatings, fertilizers, and flame retardants.
Production of anti-diabetic drugs primarily finds use of pharmaceutical grade dicyandiamide. Another type of dicyandiamide grade that finds important applications is industrial. After pharmaceutical, industrial grade dicyandiamide is envisaged to gather a telling pace in terms of market growth.
Better-performing and Cost-effective Alternatives to Dicyandiamide Pose Challenge
Availability of cost-effective substitutes to dicyandiamide is foreseen to slow down the demand in the global market. Such substitutes are usually observed to perform better than dicyandiamide. Instead of dicyandiamide, today, urea is used in the production of melamine. Previously, dicyandiamide was in use for the same purpose. Nonetheless, development of ultra-micronized grade dicyandiamide is projected to create strong opportunities in the global market. Players with robust research and development facilities are expected to support the development.
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Film adhesives, electronic potting, epoxy powder coating, and other applications find use of ultra-micronized grade dicyandiamide. This grade is non-toxic and quite effective than industrial and electronic grades. In comparison with other grade types, it is studied to offer exceptional adhesion properties. Application of dicyandiamide as a curing agent in agricultural fertilizers, textiles, and electronics is predicted to set the tone for valuable growth in the market.
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