Tungstic acid is an essential element for manufacturing zinc pyrithione. This acid is used as a catalyst in stage-1 manufacturing of zinc pyrithione. Zinc pyrithione is an essential intermediate used in manufacturing anti-dandruff shampoos.
According to Fact.MR insights, over the past-half decade, the zinc pyrithione market has expanded at a CAGR of more than 3%, and is set to progress at a higher CAGR over the coming years. This is set to have a domino effect on the growth of the global tungstic acid market, which is set to close in on a valuation of US$ 50 Mn by 2031-end.
Despite disruptions observed over the period of Q2 and Q3 of FY2020, the market is on the path of recovery and is set to reach its normal growth phase by Q2 of FY2021. Strong growth of tungstic acid demand for zinc pyrithione is anticipated to be observed by the end of Q2 of FY2022.
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Key Takeaways from Market Study
- The tungstic acid market is anticipated to create a value opportunity of around US$ 13.5 Mn over the forecast period of 2024 to 2031, adding 1.4X value as compared to 2024.
- The catalysts segment is set to dominate the demand pie of tungstic acid, and will maintain its stance over the long-run forecast period.
- Among the functions, intermediates have been the fastest-growing segment, owing to rise in consumption from chemical and textile industries over the past half-decade.
- In 2024, East Asia, especially China, will have supply dominance of tungstic acid, a trend that is set to continue till the end of the forecast period
- 2N has been an extensively used grade of tungstic acid over the past-half decade.
- The markets in the U.S., China, and India are projected to expand at a CAGR of around 4% each through 2031.
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“Economies of density and transportation of tungstic acid in China to stabilize prices over the medium-term forecast period,” says a Fact.MR analyst.
Strong Pricing Strategy over Medium-term Forecast Period
Key players in the market have been under the umbrella of a conservative stance, where they are hardly investing and moving forward with respect to production growth rate. This is set to create product deficit and spike prices over the coming years.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global tungstic acid market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2024-2031. The study divulges essential insights on the market on the basis of grade (2N, 3N, 4N, and 5N), product type (tungstic acid monohydrate and tungstic acid dihydrate), function (reagents, intermediates, mordants/dyes, and others) and application (chemical production [catalysts and tungsten products] and textile production), across five major regions of the world (North America, Europe, East Asia, South Asia & Oceania, and the Rest of the World).
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