Cyanuric Chloride Market Growth, Forecast and Value Chain 2018-2026

Posted by PratikshaM on July 4th, 2019

Cyanuric Chloride Market: Overview

Cyanuric chloride is a ring organic compound with the chemical formula of (NCCl)_3. It is the trimer of cyanogen chloride. Cyanuric chloride is formulated through two manufacturing processes: hydrogen cyanide route and sodium cyanide route. Cyanuric chloride is used as an intermediate in the manufacture of pigments, dyestuffs, plastic additives, and herbicides.

Global Cyanuric Chloride Market: Segmentation

The global cyanuric chloride market can be segmented based on purity, manufacturing process, application, and region. Based on purity, the market can be bifurcated into high purity (99%) and low purity (98%). High purity cyanuric chloride is consumed at a large scale in the agrochemical industry. Based on manufacturing process, the market can be divided into sodium cyanide route and hydrogen cyanide route. The raw form of sodium cyanide and hydrogen cyanide reacts with chlorine and further go under the polymerization process. The final product derived is cyanuric chloride. The hydrogen cyanide route is widely adopted by the various industry including agrochemicals, dyes & pigments, textile, chemical additives, plastics due to the low cost in comparison to that of the sodium cyanide route. Additionally, the hydrogen cyanide route manufacturing process requires less amount of raw materials. This is driving the demand for the hydrogen cyanide route process. In terms of application, the cyanuric chloride market can be segregated into agrochemicals, dyes & pigments, textile, chemical additives, plastics, and others. The agrochemicals segment accounted for key share of the market in 2017 due to the wide consumption of cyanuric chloride in the formulation of agrochemicals. Demand for cyanuric chloride directly depends on the population growth. Additionally, rise in adoption of cyanuric chloride in the formulation of different chemicals and dyeing is boosting the global market.

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Global Cyanuric Chloride Market: Trends & Developments

Demand for cyanuric chloride has been increasing due to the rise in consumption of the compound in various industries. Cyanuric chloride has properties to synthetized easily at minimum cost which in turns fuels the market demand. Expansion of end-use industries of cyanuric chloride and technological advancements in the field are factors driving the cyanuric chloride market. Agricultural production has been increasing despite the decrease in arable land. While on the other hand, rise in preference of organic & environment friendly pesticides inhibits growth of cyanuric chloride in the upcoming years.

Global Cyanuric Chloride Market: Regional Outlook

Based on region, the global cyanuric chloride market can be split into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific is one of the major regions of the global cyanuric chloride market owing to the development of the agriculture industry. This, in turn, is propelling the demand for agrochemicals in the region. The market in North America and Europe is anticipated to expand at a moderate pace during the forecast period. The cyanuric chloride market in Middle East & Africa and Latin America is projected to expand at a moderate pace in the near future due to the presence of emerging economies in these regions.

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Cyanuric Chloride Market: Key players

Key players operating in the global cyanuric chloride market are Evonik Industries, Syngenta, Santa Cruz Biotechnology, Volochem Inc., Lonza, Yingkou Sanzheng Organic Chemical Co. Ltd., Hebei Chengxin Co., Ltd., Zaoyang Jinlu Chemical Co Ltd., and Cangzhou Lingang Yueguo Chemical Co., Ltd.