Global Chloroplatinic Acid Market demand is anticipated to be valued at USD 3.4 Billion in 2022, forecast to grow at a CAGR of 3.2% to be valued at USD 4.7 Billion from 2022 to 2032. The growth of the Chloroplatinic Acid Market is attributed to its global utilization across the Chemicals & Materials industry.
| Report Attribute | Details |
|---|---|
| Estimated Base Year Value (2021) | USD 2.1 Billion |
| Expected Market Value (2022) | USD 3.4 Billion |
| Anticipated Forecast Value (2032) | USD 4.7 Billion |
| Projected Growth Rate (2022 to 2032) | 3.2% CAGR |
Chloroplatinic acid is also known as hexachloroplatinic acid, which is an inorganic compound. A red solid, it is an important commercial source of platinum, usually as an aqueous solution. Hexachloroplatinic acid is highly hygroscopic.
Asia Pacific is considered to be a dominant region for the Chloroplatinic Acid Market, owing to the high growth in consumption of Chloroplatinic Acid. The major factor that is expected to propel the growth of the Chloroplatinic Acid Market during the forecast period includes the rise in demand for Chloroplatinic Acid from platinum catalyst manufacturing, in recent years.
The factor that is expected to hinder the growth of the Chloroplatinic Acid Market during the forecast period includes the rising standards for handling and storage of hazardous chemicals.
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The major factor that is expected to accelerate the growth of the Chloroplatinic Acid Market during the forecast period includes the rise in demand for Chloroplatinic Acid from platinum catalyst manufacturing, in recent years.
The industrial chemicals industry imbibes a profound rate of catalysts required for various chemical syntheses. Platinum based catalysts hold a significant share of the global catalyst market. The increasing demand for platinum-based catalyst in turn is expected to augment the consumption of chloroplatinic acid.
Moreover, large demand for chloroplatinic acid has also been observed in electroplating application, used in various industries including automotive, chemical, and others.
The major factor that is expected to hamper the growth of the Chloroplatinic Acid Market includes the increasing regulations on the hazardous chemical product. The toxic nature of chloroplatinic acid makes it hazardous chemical product. Further, rising restrictions on hazardous chemicals and increasing safety standards in various industries can be the hindrance factor for Chloroplatinic Acid Market growth.
In addition, rising standards for handling and storage of hazardous chemicals is also another major factor that hinders the market growth during the forecast period.
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Asia Pacific is expected to account for a significant Chloroplatinic Acid Market share, attributed to the increasing demand for catalyst from Asia due to technology up gradation in various chemical plants, along with capacity expansion, which finds a major share of Chloroplatinic Acid in the region.
Additionally, high growth in consumption of Chloroplatinic Acid has made Asia Pacific a leading region all over the globe.
The major factor that is expected to propel the growth of chloroplatinic acid in North America during the forecast period includes the high consumption of Chloroplatinic Acid in the region. Moreover, the increasing demand for platinum-based catalyst in North America is further expected to augment the market growth in the region.
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Some of the key participants present in the global Chloroplatinic Acid Market include Honeywell International Inc., Avantor, Merck KGaA, Thermo Fisher Scientific Inc., Toronto Research Chemicals, Ruiyuan Group Limited, Green Chemical Co., Ltd., EVANS CHEM INDIA PVT LTD., American Elements, Heraeus, DO Cheng Chem Material, Alfa Aesar, Carbosynth, Tokyo Chemical Industry Co., Ltd., and Shanghai Xinglu Chemical Technology Co., Ltd., among others.
Attributed to the presence of such high number of participants, the market is highly competitive. While global players such as Honeywell International Inc., and Avantor account for a considerable market size, several regional level players are also operating across key growth regions, particularly in the Asia Pacific.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 3.2% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Billion, Volume in Kilotons and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Application, End Use Industry, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; APEJ; Japan; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Brazil, Argentina, Mexico, Chile, Peru, Germany, UK, France, Spain, Italy, Nordics, BENELUX, Russia, Poland, China, India, ASEAN, South Korea, GCC, South Africa, Turkey, Iran, Israel |
| Key Companies Profiled | Honeywell International Inc.; Avantor; Merck KGaA; Thermo Fisher Scientific Inc.; Toronto Research Chemicals; Ruiyuan Group Limited; Green Chemical Co., Ltd.; EVANS CHEM INDIA PVT LTD.; American Elements; Heraeus; DO Cheng Chem Material; Alfa Aesar; Carbosynth; Tokyo Chemical Industry Co., Ltd.; Shanghai Xinglu Chemical Technology Co., Ltd. |
| Available Upon Request |
FMI projects the global Chloroplatinic Acid Market to expand at a 3.2% value CAGR by 2032
Asia Pacific is expected to be the most opportunistic Chloroplatinic Acid Market, expanding at a 3% CAGR
Honeywell International Inc., Avantor, Merck KGaA, Thermo Fisher Scientific Inc., Toronto Research Chemicals, Ruiyuan Group Limited, Green Chemical Co., Ltd., among others are some prominent Chloroplatinic Acid Market players
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis and Forecast 6.1. Application 6.2. End Use Industry 7. Global Market Analysis and Forecast, By Application 7.1. for Catalysis 7.2. for Electroplating 7.3. for Printing 7.4. for Ceramics 7.5. for Photographic Applications 8. Global Market Analysis and Forecast, By End Use Industry 8.1. for the Chemical Industry 8.2. for the Pharmaceutical Industry 8.3. for the Automotive Industry 8.4. for Other Industrial End Uses 9. Global Market Analysis and Forecast, By Region 9.1. North America 9.2. Latin America 9.3. Western Europe 9.4. Eastern Europe 9.5. APEJ 9.6. Japan 9.7. Middle East & Africa 10. North America Sales Analysis and Forecast, by Key Segments and Countries 11. Latin America Sales Analysis and Forecast, by Key Segments and Countries 12. Western Europe Sales Analysis and Forecast, by Key Segments and Countries 13. Eastern Europe Sales Analysis and Forecast, by Key Segments and Countries 14. APEJ Sales Analysis and Forecast, by Key Segments and Countries 15. Japan Sales Analysis and Forecast, by Key Segments and Countries 16. Middle East & Africa Sales Analysis and Forecast, by Key Segments and Countries 17. Sales Forecast by Application and End Use Industry for 30 Countries 18. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 19. Company Profile 19.1. Honeywell International Inc. 19.2. Avantor 19.3. Merck KGaA 19.4. Thermo Fisher Scientific Inc. 19.5. Toronto Research Chemicals 19.6. Ruiyuan Group Limited 19.7. Green Chemical Co., Ltd. 19.8. EVANS CHEM INDIA PVT LTD. 19.9. American Elements 19.10. Heraeus 19.11. DO Cheng Chem Material 19.12. Alfa Aesar 19.13. Carbosynth 19.14. Tokyo Chemical Industry Co., Ltd. 19.15. Shanghai Xinglu Chemical Technology Co., Ltd.
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Chloroplatinic Acid Market
