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.
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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