ALBANY, New York, April 13, 2018 /PRNewswire/ --
The global dicyandiamide market was valued at aroundUS$ 260.2 Mn in 2017 and is anticipated to expand at a CAGR of over 8.5% from 2018 to 2026, according to a new report by Transparency Market Research (TMR) titled 'Dicyandiamide Market - Global Industry Analysis,
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Rise in Demand for Metformin from the Rising Diabetic Population across the Globe Likely to Drive the Market for Dicyandiamide during the Forecast Period
Type-II diabetes is one of the most common diseases across the globe. Type II diabetes accounts for more than 90% of all cases of diabetes. Diabetes is one of the major causes of death in most countries. Dicyandiamide is primarily used in the manufacture of metformin, a preferred drug for the treatment of type II diabetes. Asia Pacific is one of the key metformin producing and exporting regions across the globe. Hence, rising demand for dicyandiamide in these regions is expected to drive the market during the forecast period. Dicyandiamide is also used as intermediate in the production of flame retardants, fertilizers, coatings, adhesives, melamine, etc. However, various cost-effective and better-performing substitutes to dicyandiamide are available. Previously, dicyandiamide was predominantly used for production of melamine, but now the production of melamine from dicyandiamide is replaced with urea. Availability of substitutes for dicyandiamide is anticipated to hamper the overall demand for dicyandiamide during the forecast period. Dicyandiamide producing companies with well-established R&D facilities have developed ultra-micronized grade dicyandiamide, which is used for various applications such as epoxy powder coating, electronic potting, film adhesives, etc. This type of grade is effective compared to electronic and industrial grade and is non-toxic. The ultra-micronized grade is estimated to provide lucrative opportunities during the forecast period as it offers superior adhesion properties compared to other grades.
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Pharmaceutical and Industrial are the Major Grade Types for the Dicyandiamide Market
In terms of product, the pharmaceutical grade is a major segment of the dicyandiamide market and is expected to dominate the market during the forecast period in terms of value and volume. Pharmaceutical grade is primarily utilized for producing anti-diabetic drugs. Industrial grade is another major grade type after pharmaceutical, which is used in various applications. Prominent applications include dye fixing, flame retardants, as nitrogen stabilizer in fertilizers, etc. Due to this, industrial grade segment is expected to expand at a significant pace after pharmaceuticals.
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Growth of Pharmaceutical Industry in Asia Pacific Anticipated to Drive the Dicyandiamide Market in the Region
In terms of revenue and volume, Asia Pacific held a significant share of more than 50% of the global dicyandiamide market in 2017. Asia Pacific countries, especially China and India, are focusing on pharmaceutical industries, which is a major driver of demand for dicyandiamide. India and China are leading countries in terms of number of diabetic patients. There is a need to develop anti-diabetic drugs to treat this disease. As dicyandiamide is used in production of anti-diabetic drugs, the demand for this product is expected to increase during the forecast period. Other end-user industries such as electronics, textile, agricultural fertilizer where dicyanamide is used as a curing agent for epoxy resins, dye fixing, and nitrogen stabilizer, respectively, are also expanding at a significant pace in Asia Pacific. This is driving demand for dicyandiamide in the region.
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Consolidated Market for Dicyandiamide with very Few Countries Producing and Exporting to All Regions
The global dicyandiamide market is highly consolidated with major manufacturing players located in China. Some of the major players include AlzChem Group AG, Ningxia Darong Industry Group Co., Ltd., Ningxia Jiafeng Chemicals Co., Ltd., Ningxia Yinglite Chemical Co., Ltd., Ningxia Blue-White-Black Activated Carbon Co. Ltd., Ningxia Sunnyfield Chemical Co. Ltd., and Shizuishan Pengsheng Chemical Co., Ltd. AlzChem Group AG is the only company that has a dicyandiamide manufacturing facility outside Asia. AlzChem Group AG has capacity of 20,000 tons per annum, which is the highest worldwide. Majority of the dicyandiamide market is import based where end-user industries procure dicyandiamide either directly through manufacturers based in China and Germany or through traders or importers located in the respective region. Chinese players do not sell their products under any brand names. However, AlzChem Group AG sell its products under brand names such as Dyhard, Tropharm, etc.
Dicyandiamide Market: by Grade
Dicyandiamide Market: by Application
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