Trichloroisocyanuric Acid Market Analysis by Form (Powder, Granular, and Tablet) by Application (Bleaching Agent, Disinfectant, Algaecide & Bactericide, Sericulture & Aquaculture, and Others); and by End – Use Industry (Water & Wastewater Treatment, Food, Sports & Recreation, Textile, Dye, Agriculture, and Others) – Global Supply and Demand Analysis & Opportunity Outlook 2023 – 2035
Buy Now Report ID: 4202 | Published Date: Apr 05, 2023
The global trichloroisocyanuric acid market is estimated to garner a revenue of ~USD 420 billion by the end of 2035 by growing at a CAGR of ~5% over the forecast period, i.e., 2023 – 2035. Further, the market generated a revenue of ~USD 230 billion in the year 2022. Trichloroisocyanuric acid is used as a bleaching and shrinking agent, industrial disinfectant, and reagent in the textile industry. The recent boom in the textile industry is expected to fuel the sales of trichloroisocyanuric acid and propel the market growth in the forecast period. For instance, in 2019, the global textile industry was estimated approximately ~USD 920 billion, which is further projected to reach around ~USD 1,230 billion by 2024.
The chemical formula of trichloroisocyanuric acid is C3Cl3N3O3, which is a type of organic chemical compound. Trichloroisocyanuric acid appears to be white crystalline solids with a heavy pungent odor and is highly inflammable that can cause a fire. This chemical compound can be synthesized from cyanuric acid when reacted with sodium hydroxide and chlorine gas. When close to moisture, water, acids, reducing and oxidizing agents, trichloroisocyanuric acid may be incompatible. Further, the prevalence of high number of textile manufacturers is anticipated to boost the demand of trichloroisocyanuric acid in the industry for the increased preference for organic chemical in the upcoming years. In 2021, the number of textile and cloth manufacturing companies in the European Union was estimated to be around ~USD 143,000.
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Base Year |
2022 |
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Forecast Year |
2023 – 2035 |
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CAGR |
~5% |
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Base Year Market Size (2021) |
~ USD 230 billion |
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Forecast Year Market Size (2031) |
~ USD 420 billion |
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Regional Scope |
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Growth Drivers
Expansion of Agricultural Industry – Utilizing trichloroisocyanuric acid to treat seeds and shield crops from germs is a common practise in the agricultural sector. The U.S. Department of Agriculture estimated that food, agriculture and related industries contributed around ~USD 1.055 trillion to the total U.S. Gross Domestic Product (GDP) in 2020.
Boom in Chemical Industry – The white crystalline powder with chlorine like odour is used in chemical industry in the tablet or granular form used as reagent in organic chemical synthesis. As per recent estimates, the revenue generated by the global chemical industry in 2021 was USD 4.7 trillion.
High Investment in Research and Development (R&D) Activities – Growing investment in the Research and Development activities of trichloroisocyanuric acid is driving the sales of this market. The World Bank released data stating that the global research and development expenditure rose from 2.13% of the total Gross Domestic Product (GDP) in 2017 to 2.63% in 2020.
Soaring Expenditure on Advanced Materials and Chemicals – In 2019, the global expenditure spending on advanced materials and chemicals was estimated to be ~USD 41 billion.
Challenges
The trichloroisocyanuric acid market is segmented and analyzed for demand and supply by end-use industry into water & wastewater treatment, food, sports & recreation, textile, dye and pigments, agriculture, and others. Out of these, the textile segment is anticipated to garner the highest revenue by 2035. The expansion of the textile industry across the world along with the increased demand for textiles by the ever-growing population are some of the key factors that are expected to drive market growth in the forecast period. As per recent statistics, global textile consumption was approximately 87 million tons in 2020, with an annual growth rate of 4%.
The global trichloroisocyanuric acid market is segmented and analyzed for demand and supply by application to the bleaching agent, disinfectant, algaecide & bactericide, sericulture & horticulture, and others. Among these, the bleaching agent segment is expected to have the highest market share in the forecast period. The textile industry is one of the most significant factors behind the growth of trichloroisocyanuric acid market and is projected to drive the growth of this market in the future times. Trichlorosocyanuric acid is highly used in the textile industry as a bleaching agent which is one of the most common and significant uses of trichlorosocyanuric acid. Other than being used as a bleaching agent it is also used for anti-shrink treatment and dyestuff treatment in wool. Enhanced bactericide performance, usage of high-efficiency products, low-toxicity fungicides, and shrink agents are a few key benefits of tricholorisocyanuric acid that increase its demand in the global market.
Our in-depth analysis of the global trichloroisocyanuric acid market includes the following segments:
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By Form |
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By Application |
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By End Use Industry |
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The market in Asia Pacific is projected to hold the largest market share by the end of 2035. Trichloroisocyanuric acid is highly used in the wastewater treatment and to offer the region with clean water and proper sanitization. Trichloroisocyanuric acid is a powerful oxidant and chlorinating agent which is a safe disinfectant. It has the ability to kill all kinds of germs, viruses, bacterias, fungi, so on. Therefore, its utilization can be seen in wastewater treatment or for maintaining proper sanitization. For instance, according to reports, wastewater treatment market in India held a market revenue of USD 2 billion in 2020. Trichloroisocyanuric acid plays a crucial role in the chemical industry. This white crystalline powder has chrorine like odour and exist in tablet or granular form is at times used for chemical and industrial use. Therefore, the development of the chemical industry in the region is another factor estimated to fuel the growth of this market. In 2020, Asia accounted for the largest share of the world’s chemical industry i.e., 58.6%. Additionally, the presence of the largest textile exporters in this region is anticipated to propel the production of trichloroisocyanuric acid. Trichloroisocyanuric acid is used as a bleaching agent in textile industry. In 2020, China was leading the chart of global textile exporters with a value of ~USD 154 billion.
The market in North American region is anticipated to account a significant market share by the end of 2035. Trichloroisocyanuric acid works as a disinfectant for multiple water bodies such as swimming pools, spas, water fountains, and others in the region. The demand for trichloroisocyanuric acid is expected to grow in the forecast period. It is considered to be a better version of chlorine thus widely used in the swimming pools. The compound is not at all harmful to human body or skin, thus it is used in swimming pools and fountains. Trichloroisocyanuric is easier to handle as compared to chlorine. In order to offer people clean water and proper sanitization in the region trichloroisocyanuric acid is highly adopted. Strict government regulations regarding safe and clean water and sanitization in the region is driving the growth of this market.
Karton Corporation has successfully joined hands with DL Chemical Co., Ltd. This merger is expected to boost the company’s presence by leveraging DL Chemical’s manufacturing capabilities and footprint in the Asian market, along with its financial power, allowing it to invest in industry-leading sustainable innovation.
FMC Corporation has finally acquired BioPhero ApS, a Denmark-based pheromone research and production company.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Smruti Ranjan, Rajrani Baghel
Ans: The expansion in the utilization of chemicals across different end-use companies is the major factor driving the growth of the trichlorosoicyanuric acid market.
Ans: The market is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2022 – 2031.
Ans: Low adoption rates along with the easy availability of alternative chemicals and stringent government rules are the few factors likely to hamper the market growth.
Ans: The market in Asia Pacific is projected to hold the largest market share by the end of 2031 and provide more business opportunities in the future.
Ans: The major players in the market are Croda International Plc, Tokyo Chemical Industry Co., Ltd., Oleon NV, Wilmar Group, Occidental Petroleum Corporation, Nissan Chemical Corporation, Ercros, S.A., and many more.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by form, application, end-use industry, and by region.
Ans: The textile segment is anticipated to garner the largest market size by the end of 2031 and display significant growth opportunities.
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