Dicyandiamide Market Projected to Grow at a CAGR of 5.2% due to Increasing Demand from Agriculture and Electronics Industries
NEW YORK, March 31, 2023 (GLOBE NEWSWIRE) -- Research firm IndexBox has released a comprehensive report on the global dicyandiamide market, available at their website https://www.indexbox.io/store/world-1-cyanoguanidine-dicyandiamide-market-analysis-forecast-size-trends-and-insights/. The report provides trial access to market data available on the IndexBox platform.
The report forecasts the market size and trends until 2030, analyzing the factors that will drive growth and the challenges that the industry will face. Key growth drivers include the increasing use of dicyandiamide in the agricultural sector, rising demand from the electronics industry, and the growing popularity of water treatment processes that use dicyandiamide. However, high production costs and strict regulatory policies are expected to hinder market growth.
The global dicyandiamide market is segmented by application and region.
In terms of application, the agriculture segment dominates the market due to the increasing use of dicyandiamide as a nitrification inhibitor. It helps reduce nitrogen loss in crops and enhances the efficiency of fertilizers. The electronics industry is also a significant contributor to the market, with dicyandiamide being used as a curing agent in the production of epoxy resins and as a flame retardant in electronic devices.
The automotive industry uses dicyandiamide in the production of engine parts and adhesives, while the water treatment industry uses it as a flocculant and coagulant.
Geographically, Asia-Pacific is the largest consumer and producer of dicyandiamide, with China being the biggest market in the region. The demand in this region is driven by the rapidly growing agricultural and electronics industries. North America and Europe are also significant markets, driven by the increasing use of dicyandiamide in water treatment processes.
Key statistics provided in the report include market size, production volume, consumption, and trade dynamics. The report also lists the largest manufacturers in the industry, including AlzChem Group AG, Nippon Carbide Industries Co., Inc., and Ningxia Jiafeng Chemicals Co., Ltd.
For more information, visit https://www.indexbox.io/store/world-1-cyanoguanidine-dicyandiamide-market-analysis-forecast-size-trends-and-insights/
Keywords: dicyandiamide market, market forecast, growth drivers, challenges, major consuming industries
CONTACT: Contact Information: Mekhrona Dzhuraeva, Editor media@indexbox.io
