Methanesulfonic Acid Market By Type (Industrial Grade, Pharmaceutical Grade) By Application (Electroplating, Medicines, Organic Synthesis, Others) and Region - North America Forecast to 2026

North America Methanesulfonic Acid Overview:

The North America methanesulfonic acid market was valued at nearly US$ 37 Mn in 2016 and is expected to register a CAGR of 6.2% from 2017 to 2026.

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This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market.

In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.

Methanesulfonic acid, also referred as MSA, is a strong caustic acid and the simplest form of the alkylsulfonic acids. It is a hygroscopic colourless liquid with the chemical formula CH₃SO₃H. It is highly soluble in water and oxygenated solvents, but mildly soluble in most hydrocarbons and insoluble in alkanes, benzene, and toluene. In aqueous solution, it is a strong acid (completely ionized). It has broad applications in the field of electroplating, and has proven to be an excellent alternative of fluoride boric acid and phenolsulfonic acid.

MSA is also used as a raw material in medicines and pesticides. It can also be used as dehydrating agent, curing accelerator for coating, treating agent for fiber, solvent, catalysis, and esterification, as well as polymerization reaction. Methanesulfonic acid is widely used in industrial applications since it is easily biodegradable and non-toxic in nature. The chemical also finds end-use application in polymers, electronics, batteries, electrochemical stripping process, surface treatment, and others.

North America Methanesulfonic Acid Dynamics:

Consumption of consumer electronics and appliances such as laptops, smartphones, washing machines, cooking appliances, and others, owing to increasing disposable income and hectic lifestyle, is on the rise. Consumer electronics and appliances require electroplating to prevent abrasion, corrosion, wear and tear, and also to increase lifespan of products.

Increasing usage of methanesulfonic acid market is directly proportional to the expansion of consumer appliances and electronics market in countries in North America, and demand for various products used in the kitchen has been witnessing a significant increase, owing to changing preference from commercially produced and processed food products to more of home cooked meals, etc.

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MSA is used in active pharmaceuticals ingredients (API) formation of drugs such as Telmisartan and Eprosartan, which are used for treatment of hypertension to reduce risk of fatal and nonfatal cardiovascular events, primarily strokes, and myocardial infarctions. Increasing geriatric population and rising incidence of lifestyle-related diseases are other factors driving demand for various drugs currently. methanesulfonic acid is also used in the production of a generic version of Telmisartan, as well as excipients in other drugs.

In addition, methanesulfonic acid considered an excellent catalyst for esterification, alkylation, and condensation reactions. The chemical also finds a number of applications in the chemicals industry, owing to its less corrosive and environment friendly properties. Its high adoption in various applications in the chemicals industry is expected to boost growth of methanesulfonic acid market in North America over the next ten years.

Market Analysis by Type:

On the basis of type, industrial grade segment is expected to contribute major revenue share in the North America methanesulfonic acid market, and witness highest CAGR of over 6%, in terms of revenue over the forecast period. This can be attributed increasing usage of methanesulfonic acid for industrial applications such as electroplating, industrial cleaning for rust and scale removal purposes, chemical synthesis, etc.

Industrial grade methanesulfonic acid is a high-performance alternative acid, which protects against corrosion when used in pre-esterification process, as opposed to inorganic acids such as hydrochloric acid and sulfuric acid

Among the types, revenue share of pharmaceutical grade methanesulfonic acid in the North America methanesulfonic acid market is projected to increase steadily during the forecast period (2016–2026). This can be attributed to its owing to its high miscibility and high acidity properties in aqueous and organic media and increasing use of MSA as a catalyst of alkylation, solvent, polymerization, esterification, and synthesis of APIs by pharmaceuticals companies.

Market Analysis by Application:

Among application segment, the revenue share of electroplating segment in the North America methanesulfonic acid market is projected to increase considerably during the forecast period (2016–2026). This can be attributed to high dependence of electronics and electrical industries on tin-alloy coatings for its superior solder-ability, which is done using electroplating process.

Methanesulfonic acid is highly preferred in electroplating for its non-toxic for high speed electroplating properties, and minimal sludge production. Methanesulfonic acid requires lower voltage and saves electricity costs in electroplating, and its disposal requires minimal cost.

The revenue share of medicines, organic synthesis, and others in the North America methanesulfonic acid market is expected to register a steady growth during the forecast period (2016–2026), owing to its advantages over concentrated sulfuric acid and other acids, since the acid strength is similar, but it does not act as an oxidant thereby making it a viable catalyst/compound in manufacturing of organic synthesis.

Market Analysis by Country:

The market in the US accounted for revenue share of over 60% in the North America methanesulfonic acid market in 2016. This can be attributed to increasing use of methanesulfonic acid in end use industries as a catalyst for production of various products. Presence of prominent manufacturers such as BASF and Sigma-Aldrich Corp. (Merck Group) producing methanesulfonic acid to be used in electroplating and organic synthesis products for various end use industries is a major factor driving growth of the North America methanesulfonic acid market.

Additionally, Arkema, which is a leading manufacturer and supplier of methanesulfonic acid products, supplies both pharmaceutical and industrial grade products as per customer requirement and is located in the US, which is a key factor for the US market accounting for highest revenue share in the region.

Canada’s pharmaceutical industry is the tenth largest industry globally and the second largest in North America region owing to its high per capita pharmaceutical spending and favorable regulatory system. Revenue growth of Mexico in the North America methanesulfonic acid market is expected to increase moderately during the forecast period.

Market Segmentation of North America Methanesulfonic Acid Market:

Segmentation by type:

• Industrial Grade
• Pharmaceutical Grade

Segmentation by application:

• Electroplating
• Medicines
• Organic Synthesis
• Others

Segmentation by country:

• US
• Canada
• Mexico