Dicyandiamide Market is segmented into grades, application and region. The various grades in this market are electronic grade, industrial grade and pharmaceutical grade. The industrial grade is likely to gain a significant growth in the coming years due to its extensive application in various industrial processes. The product is used as an intermediate for several resins and organic nitrogen composites, like guanidine, guanamides, and biguanides. It is extensively used in the chemical industry for the conversion process of melamine. Another application of industrial grade is its use in the paper industry as a flame-retardant additive.
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The various applications in the dicyandiamide market are pharmaceuticals, epoxy laminates, textile & dyeing auxiliaries, water treatment, flame retardants, fertilizers, etc. Dicyandiamide is used to stabilize fertilizers containing urea as it stops nitrification enzymes and minimizes the discharge of nitrate into the soil. The global fertilizer demand was 183 million metric tons in 2013 and is likely to cross 200 million metric tons by 2019, with a growth rate of 1.8 percent. Such increasing trend in fertilizer consumption will in turn increase the demand for dicyandiamide in the coming years. Hence, fertilizer application is likely to gain by a significant growth rate. It is also used to make highly efficient paper deinking agent and cuing agent for epoxy resin.
U.S. Dicyandiamide Market growth in pharmaceutical industry is likely to observe substantial gains from 2019 to 2025. The product is increasingly used in the synthesis of drugs for treating patients suffering from type II diabetes. As the product is highly reactive and non-hazardous, it is extensively used in manufacturing metformin drug. The United states is the largest pharmaceutical market which accounted for about 45% of the global share in 2018. It generated a revenue of more than USD 400 billion in 2016. Rising government expenditure for healthcare in the U.S. will further enhance the regional dicyandiamide demand in the coming years.
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Asia pacific is likely to hold a significant share in the dicyandiamide market due to the rising product manufactures in this region. Large number of small & medium sized manufacturers in China and Japan has helped in occupying a significant market share. Moreover, developments in end-user sectors like electronics, agriculture, textile, etc. are likely to boost the demand in the dicyandiamide market in the coming years. Latin America will be another high potential regional market in the coming years due to the vast pharmaceutical industry in this region. The product is an active pharmaceutical ingredient which is used in manufacturing various medicines like diabetes drugs. In 2017, the pharmaceutical industry in Latin America generated a revenue of about USD 69 billion which increased from USD 62 billion last year. Such rising trend in the dicyandiamide market will in turn increase the demand for the product in this region.
Some of the major market players of dicyandiamide market are Ningxia Sunnyfield Chemical Co., Ltd., Benco Chemical LTD LLC, Ningxia Darong Industry Group Co., Ltd., etc.
Dicyandiamide Market, By Grade, 2014-2025 (USD Million)
- Electronic grade
- Industrial grade
- Pharmaceutical grade
Dicyandiamide Market, By Application, 2014-2025 (USD Million)
- Epoxy laminates
- Textile & dyeing auxiliaries
- Water treatment
- Flame retardants
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