Methanesulfonic Acid Market to Expected To Hit A CAGR Of 6.2% By 2026

The first five-year cumulative revenue (2017-2021) is projected to be US$ 0.2 Bn, which is expected to increase significantly over the latter part of the five-year forecast period. The North America methanesulfonic acid market was valued at nearly US$ 37 Mn in 2016 and is expected to register a CAGR of 6.2% from 2017 to 2026.

The North America methanesulfonic acid is segmented on the basis of type, application, and country.

On the basis of type, industrial grade segment is expected to contribute major revenue share in the North America methanesulfonic acid market, and witness highest CAGR of over 6%, in terms of revenue over the forecast period. This can be attributed increasing usage of methanesulfonic acid for industrial applications such as electroplating, industrial cleaning for rust and scale removal purposes, chemical synthesis, etc.

Among application segment, the revenue share of electroplating segment in the North America methanesulfonic acid market is projected to increase considerably during the forecast period (2016–2026). This can be attributed to high dependence of electronics and electrical industries on tin-alloy coatings for its superior solder-ability, which is done using electroplating process.

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The market in the US accounted for revenue share of over 60% in the North America methanesulfonic acid market in 2016. This can be attributed to increasing use of methanesulfonic acid in end use industries as a catalyst for production of various products. Presence of prominent manufacturers such as BASF and Sigma-Aldrich Corp. (Merck Group) producing methanesulfonic acid to be used in electroplating and organic synthesis products for various end use industries is a major factor driving growth of the North America methanesulfonic acid market.

The methanesulfonic acid market in the US is estimated to account for major revenue share of US$ 27.3 Mn in 2017 and is expected to register a highest CAGR in next ten years. The market in Canada is estimated to account for second highest revenue share in the global market.

The electroplating application segment is expected to be the largest segment with a revenue US$ 14.5 Mn in 2017, and is expected to continue its dominance during the forecast period,

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