The electroplating application segment is expected to be the largest segment with a revenue US$ 14.5 Mn in 2017, and is expected to continue its dominance during the forecast period, owing to factors such as its high-performance as an alternative acid, which protects against corrosion when used in pre-esterification process, as opposed to inorganic acids such as hydrochloric acid and sulfuric acid.
The methanesulfonic acid market in the US is estimated to account for major revenue share of US$ 27.3 Mn in 2017 and is expected to register a highest CAGR in next ten years. The market in Canada is estimated to account for second highest revenue share in the global market.
Key players operating in the North America methanesulfonic acid market include BASF SE, Arkema S.A, Sigma-Aldrich Corp. (Merck Group), Varsal Inc., Langfang Jinshenghui Chemical Co., Ltd., Zhongke Fine Chemical Co., Ltd., and Taizhou Suning Chemical Co., Ltd.