North America led the azodicarbonamide market in 2017. FDA recommended azodicarbonamide as a food additive, due to which product demand in North America has shown significant growth from last several years. Europe garnered the major market share followed by North America in 2017. This can be attributed to the large food & beverages and plastic industry in the region. Asia Pacific will be the fastest growing azodicarbonamide market, during the forecast timespan. Increasing disposable income in the countries include, China, India, Indonesia and Sri Lanka help the azodicarbonamide market to grow further in the region. In addition, product end-use industries in the region are growing with a prominent CAGR.
Azodicarbonamide (ADA) Market size is likely to grow with a prominent CAGR during the forecast timespan. Azodicarbonamide is a chemical substance which is used as a dough conditioner in bread baking, and as a whitening agent in cereal flour. It is an odorless chemical compound by nature, found in crystalline powder form, which ranges in color from yellow to orange red. It is extensively used as a food additive, blowing agent and a foaming agent.
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Increasing quality plastic and rubber demand will fuel the azodicarbonamide market growth over the forecast period. The chemical plays an important role in strengthening, softening and bringing elasticity to the product it is mixed with. Majorly it is used in foam based plastic manufacturing, such as sport shoes, toys, shoe soles and floor mats. It is used in the rubber to form seals on glass jars. Increasing usage of jar in food and beverage industry shall propel the azodicarbonamide market growth in near future. It is a chemical compound being used as a food additive to bleach and increase the shelf life of breads.
From last several years food & beverage industry is increasing with a significant CAGR and shall continue to grow with a same pace during the forecast period. Growth in the food & beverages industry ultimately fuel the product demand in coming years. However, the health risks associated with usage of product in food as a food additive shall hamper the product demand over the forecast period. Moreover, product is used to make the toys and food bottle packing, which used by the children. Owing to this regulatory bodies are likely to impose the more restriction on the product use plastic segment in near future.
Based on product type, azodicarbonamide market divided into two types- industrial quality and food quality. Due to, the health-related concerns food quality azodicarbonamide shall experience a moderate demand over the forecast timeframe. on the other hand, owing to the increasing product applications and growing plastics & rubber industry industrial quality azodicarbonamide will gain the major market share in next few years. On the basis of application, the azodicarbonamide market is segmented into five types includes, plastic additive, blowing agent, food additive, improving agent and flour bleaching agent. Blowing agent application segment shall create a major chunk of demand in near future. This can be attributed to the significantly growing plastic industry.
Many prominent vendors are operating in the industry, include Lanxess, SPL Group, Toronto Research Chemicals, Otsuka Chemical Co Ltd., Honeywell International, Arkema, JingJiang Hangsun Plastic Additives,Kum Yang Co Ltd., Weifang Yaxing Chemical Co., Ltd., Jiangxi Selon Industrial, Abtonsmart Chemicals and Ajanta Group. Other manufacturers working in the industry are SOPO International Co Ltd., S. S. Blow Chem Ltd., HAoxiang Enterprise Limited.
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Players operating in the industry are indulged in the merger and acquisition strategy to increase their product portfolio and market reach. They are trying to increase their geographical presence. For instance, Lanxess has acquired U.S. company Chemtura, which is world’s leading suppliers of flame retardant and lubricant additives. All concerned regulatory authorities have cleared the transactions. Lanxess has acquired Chemutra at nearly USD 2.81 billion according to the media reports. This acquisition will help the Lanxess to increase its presence in the North America.
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