Massive product use in the manufacture of pharmaceutical ingredients is expected to spur dicyandiamide market growth trends over the coming decade.
Sarasota, FL -- (SBWIRE) -- 12/07/2018 -- Global Dicyandiamide Market: Overview
Dicyandiamide is primarily used as raw material for production of active pharmaceutical ingredients in order to manufacture anti-diabetic medicines. It is also used as a curing agent in epoxy resins and laminates circuit boards as well as adhesives. The compound is also used in production of organic chemicals, which include, water treatment chemicals, slow and controlled nitrogen release fertilizers, dye fixing agents, and pharmaceuticals.
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Global Dicyandiamide Market: Growth Factors
Massive product use in the manufacture of pharmaceutical ingredients is expected to spur dicyandiamide market growth trends over the coming decade. Apart from this, massive need for producing adhesives and fertilizers is predicted to lucratively leverage the growth of dicyandiamide market in the years ahead. In addition to this, rise in the number of diabetics across the globe has generated major demand for anti-diabetic medicines and this, in turn, will prompt the expansion of dicyandiamide market size in the years to come. Furthermore, use of the product as a curing agent in coatings, fertilizers, flame retardants, adhesives, electronics, and textiles is anticipated to chart a profitable roadmap for dicyandiamide market in the next few years.
However, the easy availability of product substitutes as reasonable costs will hinder the expansion of dicyandiamide market in the ensuing years. Nevertheless, extensive production of ultra-micronized grade dicyandiamide is foreseen to offer strong growth opportunities for the players in dicyandiamide market over the coming years.
Global Dicyandiamide Market: Segmentation
The global dicyandiamide market can be divided based on grade and application. On the basis of grade, the market is segmented into pharmaceutical, electronic, and industrial segments. Based on the application, the dicyandiamide market is divided into pharmaceuticals, epoxy laminates, slow-release fertilizers, flame retardants, dye fixing, and water treatment sectors.
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Global Dicyandiamide Market: Regional Analysis
Based on regions, the global dicyandiamide market can be divided into five main regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Asia Pacific dicyandiamide market is slated to witness a notable growth over the coming years, owing to rising demand for dicyandiamide in the region. In addition, rapidly thriving pharmaceutical activities in countries such as India and China in APAC will contribute notably towards the dicyandiamide market growth in the region. Asia Pacific is likely to continue its market dominance over the estimated timeline owing to presence of giant manufacturers in the region. North America and Europe are predicted to be the second and third largest markets after Asia Pacific. The growth of dicyandiamide market in Europe can be attributed to massive production of the chemical in countries such as Germany.
Latin America and Middle East and Africa are projected to have huge growth potential in the near future and are likely to contribute substantially towards the dicyandiamide market earnings in the upcoming years.
Global Dicyandiamide Market: Competitive Players
The key players of the global dicyandiamide market are Ningxia Darong Industry Group Co., Ltd., Ningxia Blue-White-Black Activated Carbon Co., Ltd., AlzChemGroup AG, Ningxia Yinglite Chemical Co., Ltd., Ningxia Sunnyfield Chemical Co., Ltd., Shizuishan Pengsheng Chemical Co., Ltd., and Ningxia Jiafeng Chemicals Co., Ltd.
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Global Dicyandiamide Market: Regional Segment Analysis
The Asia Pacific
The Middle East and Africa