Azodicarbonamide Market

Azodicarbonamide Market Overview:

The global azodicarbonamide market size reached US$ 1.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 2.0 Billion by 2032, exhibiting a growth rate (CAGR) of 5.04% during 2024-2032. The need for polymer materials, preference for ready to eat (RTE) food products, and rising focus on safety and sustainability are propelling the market growth.

Azodicarbonamide Market Analysis:

• Major Market Drivers: Azodicarbonamide is used in the making of polymers and plastics. In addition, the growing demand for azodicarbonamide as a food packaging material is offering a favorable market outlook.
• Key Market Trends: Convenience and ready to eat (RTE) food products are gaining traction owing to changing lifestyle and inflating income levels of individuals. Besides this, key players are financing R&D activities to launch sustainable product variants.
• Geographical Trends: North America leads the market because of the rising need of packaging material. However, Europe is emerging as a fast-growing market, driven by stringent regulations to promote sustainable practices in various industries.
• Competitive Landscape: Some of the top manufacturers in this market are Abtonsmart Chemicals (Group)Co. Ltd., Ajanta Group of Industries, Guangzhou Jiangyan Chemical Co. Ltd, Haihang Industry Co. Ltd, JingJiang Hangsun Plastic Additives Co. Ltd, Khadgawats Group, Kumyang Co. Ltd., Lanxess AG, Nikunj Chemicals, Otsuka Chemical Co. Ltd, SPL Group, Weifang Yaxing Chemical Co. Ltd., etc.
• Challenges and Opportunities: While the market faces challenges, such as the rising demand for more natural ingredients and stringent regulations in the food and beverage (F&B) industry, it also encounters opportunities in the growing demand for plastics, rubber, and processed food products in developing countries.

Azodicarbonamide Market Trends:

Expanding demand for polymer and plastic materials

The demand for plastic materials in various industries, such as automotive, packaging, construction, and automotive, where azodicarbonamide is a precursor in the production of these materials is expanding the market growth. Lightweight characteristics, enhanced insulation, and high structural integrity of plastic material is provided by azodicarbonamide. The demand for azodicarbonamide is increasing consequently around the world. As per the report of United Nations Environment Programme (UNEP), the plastic production is expected to reach 1100 Million Tonnes by 2050 worldwide.

Rise in consumer preference for convenience food products

According to the IMARC Group’s report, the global convenience food market reached US$ 484.6 Billion in 2023. Changing lifestyle and inflating income levels of individuals is catalyzing the demand for convenience food products. This, in turn, is propelling the demand for azodicarbonamide due to its utilization in packaging material of these food products. Its ability to protect the quality of food products, thereby increasing their shelf life makes it highly preferable for food packaging. Key players operating in this market are also preferring efficient and effective packaging solutions, which is increasing the azodicarbonamide market statistics.

Increasing demand for material testing

The IMARC Group’s report claims that the global material testing market is anticipated to reach US$ 8.9 Billion by 2032. As numerous industries are focusing on enhancing product performance and sustainability, there is a rise in research and development (R&D) activities in material testing. The development of foaming agents that meet safety and environmental standards due to the rising focus on sustainable practices is positively influencing the market. Manufacturers are introducing healthy and safe variants of azodicarbonamide that can offer similar foaming properties. This innovative approach is not only stimulating the azodicarbonamide market growth but also catering to the larger user base around the world.

Azodicarbonamide Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global azodicarbonamide market report, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on type, application, and end user.

Breakup by Type:

• Industrial Quality
• Food Quality
   

The report has provided a detailed breakup and analysis of the market based on the type. This includes industrial and food quality.

Azodicarbonamide is used as a foaming agent in the production of polymer and plastic in various sectors, including electronics, automotive, and construction. It can improve several properties of products like lightweight and durability, which further enhances its industrial applications. Its role in manufacturing packaging materials of food products makes it highly preferable in the food and beverage (F&B) industry. Moreover, the rising demand for convenience and ready to eat (RTE) food products is driving the azodicarbonamide demand.

Breakup by Application:

• Blowing Agent
• Plastic Additive
• Food Additive
• Flour Bleaching Agent
• Improving Agent
   

Blowing agent dominates the market

The report has provided a detailed breakup and analysis of the market based on the application. This includes blowing agent, plastic additive, food additive, flour bleaching agent, and improving agent. According to the report, blowing agent represented the largest segment.

The growing demand for azodicarbonamide as a blowing agent to enhance the texture and appearance of polymer and plastic materials, driving its adoption in industries, such as automotive, packaging, and construction, is creating a positive azodicarbonamide market outlook for market expansion. Azodicarbonamide assists in facilitating the uniform cellular structure within the foam, resulting in uniform mechanical strength and insulation properties. Moreover, key players are investing to increase the production of the blowing agent. For instance, in 2021, Arkema invested $60 million to add 15,000 metric tons (t) per year of capacity of insulation foam-blowing agent hydrofluoroolefin-1233zd (HFO-1233zd) in Calvert City, Kentucky.

Breakup by End User:

• Plastic and Rubber
• Food and Beverage
• Leather and Textile
• Others
   

Plastic and rubber holds the largest share in the market

A detailed breakup and analysis of the market based on the end user has also been provided in the report. This includes plastic and rubber, food and beverage, leather and textile, and others. According to the report, plastic and rubber accounted for the largest market share.

The widespread product usage in plastic and rubber applications as a foaming agent, contributing to improved material properties and lightweight characteristics, represents a significant growth-inducing factor. Azodicarbonamide is used to create bubbles in these products, which enhances their cushioning and lightweight properties. Key players are introducing new and advanced plastic and rubber products to cater to demands of numerous industries. For example, Cabot Corporation launched its new engineered elastomer composite (E2C) DX9660 solution to increase durability of rubber via high abrasion resistance in 2023.

Breakup by Region:

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

North America exhibits a clear dominance, accounting for the largest azodicarbonamide market share

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America accounted for the largest market share.

The expansion of the North American packaging industry, coupled with the rise in demand for lightweight and efficient materials in the region, is driving the adoption of azodicarbonamide as a blowing agent and plastic additive. In addition, the Food and Drug Administration (FDA) has approved the use of azodicarbonamide as a food additive in the food and beverage (F&B) industry. In line with this, the growing number of food and beverage (F&B) manufacturing plants, offering several employments, is catalyzing the demand for azodicarbonamide in the region. According to the U.S. Department of Commerce, Bureau of the Census’s Annual Survey of Manufactures, F&B manufacturing plants accounted for 15.4% of all employees among all manufacturing plants in US and 16.8% of sales in 2021.

In addition to this, the implementation of strict regulations in Europe promoting sustainable practices in various industries, including packaging and automotive, is influencing the demand for azodicarbonamide's role in improving material properties and reducing environmental impact. Apart from this, the thriving manufacturing sector and increasing consumer preference for convenience food products in the Asia Pacific region are propelling the demand for azodicarbonamide as a foaming agent in packaging and as a food additive, thereby positively influencing the azodicarbonamide market revenue. As these regions navigate evolving industry landscapes and sustainability considerations, azodicarbonamide's versatility aligns with their unique requirements, fostering its demand across diverse sectors.

Competitive Landscape:

To fulfil the demand of enhanced performance, environmental sustainability, and cost-effectiveness of azodicarbonamide, key players are investing in research and development (R&D) activities. They are also focusing on collaborations, mergers and acquisitions (M&A), and product innovations to expand their market reach. The growing demand for the sustainable variant of azodicarbonamide is encouraging them to focus on this niche applications. Azodicarbonamide companies are leveraging advanced technologies to enhance the production and quality of azodicarbonamide. They are also ensuring the easy access to raw materials and timely deliveries to their buyers, thereby propelling the growth of the market. Azodicarbonamide market recent developments are encouraging them to offer unique formulations and improved quality to remain competitive.

The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

• Abtonsmart Chemicals (Group)Co. Ltd.
• Ajanta Group of Industries
• Guangzhou Jiangyan Chemical Co. Ltd
• Haihang Industry Co. Ltd
• JingJiang Hangsun Plastic Additives Co. Ltd
• Khadgawats Group
• Kumyang Co. Ltd.
• Lanxess AG
• Nikunj Chemicals
• Otsuka Chemical Co. Ltd
• SPL Group
• Weifang Yaxing Chemical Co. Ltd.

Azodicarbonamide Market News:

• July 6, 2022: LANXESS AG, a specialty chemicals company, acquired microbial control business unit of the U.S. group International Flavors and Fragrances Inc. (IFF) to become one of the largest suppliers of microbial control products worldwide.

Azodicarbonamide Market Report Scope:

Key Questions Answered in This Report:

• How has the global azodicarbonamide market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global azodicarbonamide market?
• What is the impact of each driver, restraint, and opportunity on the global azodicarbonamide market?
• What are the key regional markets?
• Which countries represent the most attractive azodicarbonamide market?
• What is the breakup of the market based on the type?
• Which is the most attractive type in the azodicarbonamide market?
• What is the breakup of the market based on the application?
• Which is the most attractive application in the azodicarbonamide market?
• What is the breakup of the market based on the end user?
• Which is the most attractive end user in the azodicarbonamide market?
• What is the competitive structure of the global azodicarbonamide market?
• Who are the key players/companies in the global azodicarbonamide market?

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the azodicarbonamide market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and azodicarbonamide market recent opportunities.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the azodicarbonamide industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.