Trichloroisocyanuric Acid Sector: Growth Drivers and Challenges
Growth Drivers
- Boom in the Chemical Industry- The white crystalline powder with a chlorine-like odor is used in the chemical industry in the tablet or granular form used as a reagent in organic chemical synthesis. According to current industry estimates, in 2021 the chemical sector is expected to generate an annual revenue of USD 4.7 trillion.
- High Investment in Research and Development Activities- The growth in sales of the market is driven by growing investments in research and development activities related to trichloroisocyanuric acid. The World Bank has published figures showing that research and development expenditure worldwide increased from 2.1 % of GDP in 2017 to 2.63% by 2020.
- Soaring Expenditure on Advanced Materials and Chemicals- According to estimates, the world's expenditure on advanced materials and chemicals will reach USD 41 billion in 2019.
Challenges
- Increasing Number of Government Restrictions- Trichloroisocyanuric acid is a strong chemical compound that cannot easily be used, but some strict government rules and regulations have been connected with it, which has led to an issue in the growth of this market.
- A Simple availability of alternatives to chemicals.
- The market for trichloroisocyanuric acid may be limited due to its small consumption because of its toxic nature.
Trichloroisocyanuric Acid Market: Key Insights
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
3.8% |
|
Base Year Market Size (2024) |
USD 2.13 billion |
|
Forecast Year Market Size (2037) |
USD 3.46 billion |
|
Regional Scope |
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Browse key industry insights with market data tables & charts from the report:
Frequently Asked Questions (FAQ)
In the year 2025, the industry size of trichloroisocyanuric acid is estimated at USD 2.19 billion.
The trichloroisocyanuric acid market size was over USD 2.13 billion in 2024 and is set to cross USD 3.46 billion by the end of 2037, witnessing more than 3.8% CAGR during the forecast period i.e., between 2025-2037. The expansion in the utilization of chemicals across different end-use companies will impel the market growth.
Asia Pacific industry is poised to dominate majority revenue share 33% by 2037, as trichloroisocyanuric acid has been increasingly used to provide a region with safe drinking water and good sanitization.
The major players in the market are Croda International Plc, Oleon NV, Wilmar Group, Occidental Petroleum Corporation, Ercros, S.A., FMC Corporation, Olin Corporation, Tokyo Chemical Industry Co., Ltd., Nissan Chemical corporation, and others.
