- Guanidine Hydrochloride
- Guanidine Thiocyanate
- Guanidine Chloride
- Guanidine Nitrate
Guanidine Salts Market was valued at USD 368.3 million in 2022 and is expected to grow at a 5.3% CAGR from 2023 to 2029. Guanidine salt is a colourless organic compound used as a raw material in many end-users’ company like cosmetics consumption, detergents, textile industries as well as in microencapsulation process. The guanidine is also used as a strong base in the production of explosives and plastics. Guanidine carbonate is a derivative of guanidine salts is used as an active ingredient in variety of chemical formulations used for the hair relaxing treatment. Growing demand of guanidine in pharmaceutical industry as it is used in the preparation of antibiotic drugs such as streptomycin, trimethoprim and chlorhexidine is expected to fuel the market growth in the forecasted period. Furthermore, rising adoption of guanidine in cosmetics and rising demand for guanidine in medical industry for the treatment of muscle weakness are the key driving factors in the growth of global guanidine market. The increasing application of guanidine hydrochloride in medical industry is expected to drive the market growth at a significant rate. Increased Production of antibacterial fabrics by textile industry by the use of guanine is expected to provide an opportunity in the growth of global guanidine market in the forecasted period. Strict rules regulations by the government and the heal hazards related working in chemical environment are expected to hinder the market growth in the forecasted years. Geographically, Asia Pacific region held the major market share in 2022 and is expected to dominate the global guanidine salts market in the forecasted years.
Guanidine Salts Market Key Developments:
In April 2020, Borealis entered North America market by Acquiring full ownership of NOVA Chemicals interest in Novealis joint venture.
Fastest Growing Market
Guanidine salts market is growing due to the growing demand of guanidine salt in the pharmaceutical industry and in the manufacture of explosives. Increasing consciousness and demand for cosmetic products is expected to boost the market growth in the forecasted years. guanidine carbonates are mainly used in cosmetic industry thus increasing the market growth, guanidine nitrates are used in the manufacturing of plastics and in the making of explosives thus an important component in defense sector which drives the market growth. Guanidine is mostly used in the manufacture of cosmetics and as the demand for cosmetics increases the demand for guanidine market also expected to increase in the forecasted years.
Guanidine Salts market was valued at USD 368.3 million in 2022, and is expected to grow at a 5.3% CAGR from 2023 to 2029.
Increase in demand for guanidine in pharmaceutical industry and in chemical, detergent is expected to grow in forecasted years
The leading players in the global Guanidine Salts market are Borealis AG, Vihita Chem Private Limited., Sanwa Chemical CO. Ltd., Alzchem Group AG, Merck KGaA, Thermo Fisher Scientific Inc., MP BIOMEDICALS., Shizuishan Pengsheng Chemical Co., Ltd, Nippon Carbide Industries Co Inc., and Suvchem.
Asia Pacific region is expected to have significant growth and is expected to dominate the market in the forecasted years.