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.