IMINODIACETIC ACID (IDA) MARKET REPORT OVERVIEW
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global iminodiacetic acid (IDA) market size was USD 1037.3 million in 2019 and market is projected to touch USD 1488.48 million by 2032 at CAGR 2.8% during the forecast period.
Iminodiacetic acid (IDA) is a compound that belongs to the class of organic acids. Its chemical structure contains two carboxyl groups and an imino (NH) group. The molecular formula of IDA is C₅H₇NO₄.IDA is often used in the field of chemistry and biochemistry, particularly in the context of chelating agents. Chelating agents are molecules that have the ability to form coordination complexes with metal ions by surrounding and binding to them. In the case of IDA, its chelating properties are exploited in various applications, such as in metal ion extraction, purification processes, and as a component in certain chemical reactions.
One specific application of iminodiacetic acid (IDA) is in chromatography, where it is utilized as a chelating ligand in immobilized metal ion affinity chromatography (IMAC). In IMAC, proteins or other biomolecules containing specific amino acid sequences (usually histidine-rich) can selectively bind to the immobilized metal ions on a chromatography column containing IDA. This technique is often used for the purification of recombinant proteins in biotechnology. In summary, Iminodiacetic acid serves as a versatile compound with chelating properties, finding applications in various chemical and biochemical processes, especially in the purification and separation of metal ions and biomolecules.
COVID-19 Impact: Changes in Demand to Hinder Market Growth
The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.
The pandemic has disrupted supply chains globally. This could affect the production and availability of IDA, depending on the location of manufacturing facilities, transportation challenges, and the availability of raw materials. The demand for certain chemicals may have shifted during the pandemic. Industries that use IDA in their processes may have experienced changes in production levels or altered priorities, impacting the demand for IDA. The chemical industry is influenced by broader economic trends. Economic downturns can impact industrial activities, affecting the demand for chemicals. The pandemic may have influenced research and development activities in the chemical industry. This could lead to the discovery of new applications or modifications to existing products, potentially impacting the IDA market.
LATEST TRENDS
"Increasing Use in Water Treatment to Drive Market Growth"
IDA, particularly in the form of metal chelating resins, is commonly used in chromatography for the purification of proteins and other biomolecules in the biotechnology and pharmaceutical industries. As these industries continue to advance, the demand for IDA in bio separation applications is likely to grow. Chelating agents, including IDA, are employed in water treatment processes for metal ion removal. As environmental concerns and regulations related to water quality continue to increase, the use of IDA in water treatment applications may see growth. The chemical industry, including specialty chemicals like IDA, has been trending towards more sustainable and environmentally friendly practices. Manufacturers may explore greener production methods and the development of eco-friendly products, and this could influence the trends in the IDA market.
IMINODIACETIC ACID (IDA) MARKET SEGMENTATION
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- By Type
Based on type the global market can be categorized into ≥99% and 0.98.
A product with a purity of ≥99% is higher in purity compared to a product with a purity of 0.98%. In this context, the product with a purity of ≥99% is the larger or more concentrated product. Purity levels are often expressed as a percentage, with a higher percentage indicating a higher level of purity.
- By Application
Based on application the global market can be categorized into herbicide (glyphosate), electric & semiconductor, pharmaceuticals, chelate resin and others.
Glyphosate is a widely used herbicide and the active ingredient in products like Roundup. The herbicide market, with glyphosate as a major player, is significant in agriculture for weed control. Glyphosate has global usage, impacting large-scale agricultural practices. The electric and semiconductor industry is critical for technology, electronics, and various applications. The semiconductor industry is a major contributor to the global economy. Semiconductors are essential in electronic devices, computers, telecommunications, and more.
DRIVING FACTORS
"Biotechnology and Pharmaceuticals to Augment the Market"
Iminodiacetic acid (IDA) is known for its chelating properties, which make it a valuable compound in applications where the binding and removal of metal ions are essential. This characteristic is particularly useful in industries such as biotechnology, pharmaceuticals, and water treatment. IDA is commonly used in chromatography for the purification of proteins and other biomolecules in the biotechnology and pharmaceutical industries. The increasing demand for biopharmaceuticals and advancements in biotechnology contribute to the growth of iminodiacetic acid (IDA) market growth. Chelating agents like IDA play a crucial role in water treatment processes by binding to metal ions and facilitating their removal from water. As concerns about water quality and environmental regulations rise, the demand for IDA in water treatment applications is likely to increase.
"Technological Advancements to Expand the Market"
IDA is employed in metal ion extraction processes, contributing to the recovery of valuable metals. Industries involved in metal extraction and recycling may use IDA as part of their processes. Ongoing research and development in chemical processes and synthesis methods can lead to technological advancements in the production of IDA. Improved production efficiency, cost-effectiveness, and product quality can positively influence market growth. Increasing environmental awareness and stricter regulations related to the use of certain chemicals may drive the adoption of environmentally friendly alternatives, potentially impacting the demand for IDA in various applications. The overall economic climate and industrial activities on a global scale can influence the demand for chemicals, including IDA. Economic growth, industrial expansion, and manufacturing activities can drive the need for chelating agents in various processes.
RESTRAINING FACTOR
"Availability of Raw Materials to Potentially Impede Market Growth"
The cost of producing IDA, including raw materials and manufacturing processes, can be a significant factor affecting its market. Fluctuations in the prices of raw materials or energy costs can impact the overall cost of production. The availability and cost of raw materials used in the synthesis of IDA can affect its production. Any disruptions in the supply chain of key raw materials may impact the manufacturing process and, subsequently, the availability of IDA. Regulatory changes and increasing environmental awareness may lead to a shift in demand towards environmentally friendly alternatives or processes. If IDA production or usage is associated with environmental concerns, it could face restrictions or a decline in demand.
IMINODIACETIC ACID (IDA) MARKET REGIONAL INSIGHTS
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"North America to Dominate the Market due to Higher Demand in the Industrial Activities"
The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East &Africa
North America with significant industrial and biotechnological activities tend to have higher demand for IDA and has largest iminodiacetic acid (IDA) market share. This is because IDA is commonly used in processes related to metal extraction, water treatment, and protein purification in the biotech and pharmaceutical industries. Regions experiencing sustained economic growth often see increased industrial production, which, in turn, can drive the demand for specialty chemicals like IDA. The regulatory environment can impact the usage of certain chemicals. Regions with clear and stable regulations that support the use of IDA in various applications may see higher demand.
KEY INDUSTRY PLAYERS
"Key Industry Players Shaping the Market through Innovation and Market Expansion"
The market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of wardrobe options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. Moreover, these industry giants continually invest in research and development, introducing innovative designs, materials, and smart features, catering to evolving consumer needs and preferences. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the market.
List of Market Players Profiled
- Bayer (Germany)
- Jiangshan Agrochemical & Chemical (China)
- Good Harvest-Weien (China)
- Jiangsu Yangnong Chemical (China)
- Hubei Sanonda (China)
INDUSTRIAL DEVELOPMENT
2020, November: The growth of biopharmaceuticals and advancements in biotechnology contribute to the increased demand for IDA in bio separation processes. The chelating properties of IDA make it valuable in water treatment processes, where it is used to remove metal ions from water. As concerns about water quality and environmental regulations rise, the demand for IDA in water treatment applications is likely to increase.
REPORT COVERAGE
The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.
The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 1037.3 Million in 2019 |
Market Size Value By |
US$ 1488.48 Million by 2032 |
Growth Rate |
CAGR of 2.8% from 2019 to 2032 |
Forecast Period |
2024-2032 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Types & Application |
Frequently Asked Questions
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What value is the iminodiacetic acid (IDA) market expected to touch by 2032?
The global iminodiacetic acid (IDA) market is expected to reach USD 1488.48 million by 2032.
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What CAGR is the iminodiacetic acid (IDA) market expected to exhibit by 2032?
The iminodiacetic acid (IDA) market is expected to exhibit a CAGR of 2.8% by 2032.
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Which are the driving factors of the iminodiacetic acid (IDA) market?
Biotechnology and Pharmaceuticals to Augment the Market, Technological Advancements to Expand the Market are some of the driving factors of the iminodiacetic acid (IDA) market.
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Which are the top companies operating in the iminodiacetic acid (IDA) market?
The dominating companies in the iminodiacetic acid (IDA) market are Bayer (Germany), Jiangshan Agrochemical & Chemical (China), Good Harvest-Weien (China), Jiangsu Yangnong Chemical (China), Hubei Sanonda (China).