Trichloroisocyanuric Acid Market Competitive landscape, Key company profile analysis and Opportunities
Trichloroisocyanuric Acid Market
By the end
of 2033, it is expected that size of the global Trichloroisocyanuric
Acid (TCCA) Market would exceed US$ 3,038.5 million. In 2023, it
is anticipated to amount to US$ 2,052.7 million. A CAGR of 4.0% is predicted
for the market between 2023 and 2033. In 2022, it saw y-o-y growth at a rate of
almost 4.2%.
Demand for
trichloroisocyanuric acid (TCCA) is rising, driven by the substance's expanding
use in aquaculture, agriculture, and water treatment. Sales of TCCA are
expected to increase as its use as a bleaching and disinfection agent
increases. The textile sector's growing importance is also anticipated to have
a significant contribution to the market's growth.
TCCA is
very effective as it has high chlorine content. Also, it is a stable compound
with cyanuric acid. It has numerous industrial applications. TCCA is considered
to be a more economical and superior source for chlorination than sodium
hypochlorite and bleaching.
Growing
usage of the product for various applications such as bleaching agents,
disinfectants, algaecide, and bactericides is expected to create growth
prospects during the projected time frame. Surging demand for water treatment
and cleaning chemicals in different end-use industries is also projected to
have a positive impact on the market.
East Asia
is a dominant region in terms of consumption. It has the presence of numerous
small and medium-sized manufacturers. Companies in Europe are also expected to
witness a surging demand owing to thriving needs from the food & beverage
and water treatment sectors.
Drivers
and challenges have an impact on market dynamics, which can impact your
business. Find more insights in this sample report: https://www.futuremarketinsights.com/reports/sample/rep-gb-10345
Key
Takeaways from this Market Study:
- The global trichloroisocyanuric
acid industry witnessed a CAGR of 3.6% in the historical period from 2018
to 2022.
- By form, the tablet segment is
expected to hold around 30% to 40% of the global trichloisocyanuric acid
market share in 2023.
- Top companies in the global
trichloisocyanuric acid market held around 45% to 55% of share in 2022.
- The North American
trichloisocyanuric acid market is likely to witness a CAGR of 4.8% in the
estimated period.
- South Korea and Japan together
accounted for a trichloroisocyanuric acid industry share of around 7.1% in
2022.
"The
swimming pool sector has experienced rapid growth in recent years. In order to
maintain water hygiene in swimming pools by eliminating dangerous bacteria,
viruses, and algae, TCCA is widely utilized. Demand for TCCA is anticipated to
expand as the number of residential and commercial swimming pools continues to
rise," - says
a lead analyst at Future Market Insights (FMI).
Competitive Landscape:
A few
renowned companies hold a sizable portion of the market for
trichloroisocyanuric acid globally, with the remaining share being divided
among other top companies. China-based small- and medium-sized firms are
present in the sector.
Players in
the market are strategically concentrating on increasing their production
capabilities to increase their market share and meet the rising demand. To
effectively meet the expanding demands of end users, these firms are making
considerable expenditures to enhance their production capacity.
Important
market firms are likewise devoting a sizable amount of their earnings to
research and development efforts. To increase the quality of their product
offerings and their general effectiveness, they are actively seeking
innovations.
They are
able to improve their position in the international market by using such a
strategic approach. These leading firms are putting a lot of effort into
creating solutions that are specifically designed to address the distinct needs
of top-end users. They can outperform competing products by offering tailored
solutions that adhere to stringent end-user standards.
For
instance,
- The Spanish chemical company
Ercros S.A. produces and distributes trichloroisocyanuric acid for use in
a variety of sectors such as textiles, agriculture, and water treatment.
Under the trade name ‘Chloroisocyanuric Acid,' the company sells
trichloroisocyanuric acid products.
Key
Players are:
- Clearon Corp
- Triveni Chemicals
- Occidental Chemical Corporation
- Heze Huayi Chemical Co., Ltd.
- Taian Huatian Chemical Co., Ltd.
- Nanning Chemical Group Co., Ltd.
- Oleon NV
- Ruibang Fine Chemical Co., Ltd.
- Ocean Chemicals
- Innova Corporate
Key
Segmentation:
By Form:
- Powder
- Tablet
- Granules
By
Application:
- Bleaching Agent
- Disinfectant
- Algaecide and Bactericide
- Sericulture and Aquaculture
- Others
By
End-use Industry:
- Water and Waste Water Treatment
- Food
- Sports and Recreation
- Textile
- Dye
- Agriculture
- Others
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