Market Size of Azodicarbonamide Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR | > 5.00 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
Azodicarbonamide Market Analysis
The azodicarbonamide market is projected to register a CAGR of over 5% during the forecast period (2021-2026).
The market was negatively impacted by COVID-19 in 2020. Owing to the pandemic scenario, several countries around the world went into lockdown, which completely disrupted the supply and demand chain, thus creating a negative impact on the demand in the azodicarbonamide market. This negatively affected various end-user industries such as food and beverage, leather and textile, plastics and rubber, and other end-user industries. In Europe, according to an ongoing poll by EURATEX, the voice of the European textile and clothing industry, 80% of companies are already laying off workers; and more than half of them expect a drop in sales and production by over 50%, creating serious financial constraints. One out of four companies is even considering closing down their operations. However, the condition is expected to recover in 2021, thereby restoring the market's growth trajectory.
- Over the medium term, the significant growth of the plastic industry is driving the market's growth. Increasing usage of plastic products such as components and parts in various end-user industries like packaging, consumer goods, and automotive is likely to enhance market demand.
- However, regulation or banning of the use of azodicarbonamide for some applications in Europe and Australia acts as a restraint for the market. Some major food chains like subway and flower foods have stopped using azodicarbonamide in their bread preparation due to the unpopular reputation of its health effects.
- North America is estimated to dominate the market, with the largest consumption coming from the United States. However, Asia-Pacific is likely to register the fastest growth rate during the forecast period.
Azodicarbonamide Industry Segmentation
Azodicarbonamide is a yellow to orange-red, odorless, crystalline powder. It is sometimes called a 'yoga mat' chemical because of its widespread use in foamed plastic. The azodicarbonamide market is segmented by grade, end-user industry, and geography. By grade, the market is segmented by industrial grade and food grade. By end-user industry, the market is segmented by plastic and rubber industry, food and beverage industry, leather and textile industry, and other end-user industries. The report also offers the market size of and forecasts for 15 countries across major regions. For each segment, market sizing and forecasts have been done on the basis of revenue (USD million).
By Grade | |
Industrial Grade | |
Food Grade |
By End-user Industry | |
Plastic and Rubber Industry | |
Food and Beverage Industry | |
Leather and Textile Industry | |
Other End-user Industries |
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Azodicarbonamide Market Size Summary
The azodicarbonamide market is poised for growth, driven by the expanding plastic industry and increasing demand for foamed plastics. This crystalline powder, used extensively in plastics manufacturing processes and as a blowing agent, is seeing heightened demand from sectors such as air filters and construction. The rubber industry also contributes to market growth, with azodicarbonamide being utilized in the formation of vinyl, which is used in products like carpets and floor mats. Despite the challenges posed by the COVID-19 pandemic, which disrupted supply chains and negatively impacted demand across various end-user industries, the market is expected to recover and continue its upward trajectory. However, regulatory challenges in regions like Europe and Australia, where the use of azodicarbonamide is restricted, may pose constraints on market expansion.
Regionally, North America is anticipated to lead the market, with the United States being the largest consumer. Meanwhile, the Asia-Pacific region is expected to experience the fastest growth rate, driven by rising demand for high-quality plastics and rubber products in countries like China and India. The Chinese government's investment in textile and apparel manufacturing, along with India's plans to boost domestic plastic production, are expected to further stimulate market demand. The fragmented nature of the market sees key players such as Ajanta Group, Haihang Industry Co. Ltd, and LANXESS playing significant roles, although production in Europe has nearly ceased, necessitating imports. Overall, the azodicarbonamide market is set to benefit from these regional developments and industry trends over the forecast period.
Azodicarbonamide Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Significant Growth of the Plastic Industry
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1.1.2 Other Drivers
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1.2 Restraints
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1.2.1 Stringent Regulations in EU and Australia
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1.2.2 Negative Impact of the COVID-19 Pandemic
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION
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2.1 By Grade
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2.1.1 Industrial Grade
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2.1.2 Food Grade
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2.2 By End-user Industry
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2.2.1 Plastic and Rubber Industry
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2.2.2 Food and Beverage Industry
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2.2.3 Leather and Textile Industry
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2.2.4 Other End-user Industries
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2.3 By Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 India
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2.3.1.3 Japan
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2.3.1.4 South Korea
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2.3.1.5 Rest of Asia-Pacific
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2.3.2 North America
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2.3.2.1 United States
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2.3.2.2 Canada
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2.3.2.3 Mexico
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2.3.3 Europe
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2.3.3.1 United Kingdom
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2.3.3.2 France
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2.3.3.3 Germany
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2.3.3.4 Italy
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2.3.3.5 Rest of Europe
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle-East and Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle-East and Africa
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Azodicarbonamide Market Size FAQs
What is the current Azodicarbonamide Market size?
The Azodicarbonamide Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)
Who are the key players in Azodicarbonamide Market?
Ajanta Group, Haihang Industry Co., Ltd, Jiangxi Selon Industrial Co., Ltd., LANXESS and SPL Group are the major companies operating in the Azodicarbonamide Market.