Selenic Acid Market: Introduction
- Selenic acid is a strong oxoacid of selenium element. Selenic acid, also referred to as selenious acid or monohydrated selenium dioxide, is a chemical compound with molecular formula H2SeO4.
- The structure of selenic acid precisely describes sulfuric acid. Selenic acid is a crystalline, strong, water-soluble, and corrosive dibasic acid that analogously resembles sulfuric acid.
- Selenic acid is primarily used in the steel industry for steel coloring and protection purposes. Rise in production of steel equipment for the automotive industry has boosted the usage of selenic acid.
- USP grade selenic acid is employed as pharmaceutical intermediate in the production of multivitamins for the human body. Furthermore, increase in usage of molecular biology grade selenic acid in laboratories for research purposes is expected to drive the global selenic acid market during the forecast period.
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Key Drivers of Selenic Acid Market
- Demand for selenic acid in pharmaceuticals is driving the global selenic acid market. Selenic acid is used in the production of multivitamins. Drug manufacturers are expanding their production capacity to cater to the global demand for multivitamins. This is driving the demand for chemicals used in pharmaceuticals production. Consequently, the demand for ASP grade selenic acid has been increasing.
- Selenic acid is used as a specialized oxidizing agent. Its derivative sodium selenate is used in the preparation of glass and animal feeds. It acts as an analytical reagent and is also used for the preparation of other selenium salts such as gold (III) selenate. Furthermore, selenic acid reacts with fluorosulfuric acid to get selenoyl fluoride.
USP Grade Selenic Acid Segment to Dominate Market
- Based on grade, the global selenic acid market can be segmented into USP, molecular biology, and reagent
- The USP segment accounts for key share of the market. Demand for USP grade selenic acid in the pharmaceutical industry is expected to increase in the near future.
- Selenic acid, which is a synthesized form of selenium, is used for regulating metabolic enzymes. Selenious acid injection comprises sterile solution of selenic acid and water. This solution plays a vital role in maintaining the general health of tissues and muscles in the human body.
Different Usage of Selenic Acid
- In terms of application, the global selenic acid market can be segregated into chemical synthesis, salt synthesis, alkaloid reagents, reducing or oxidizing agents, determination of hydrogen fluoride, titanium and zirconium, spectral analysis, and others
- Selenic acid is primarily employed as an oxidizing agent in laboratories for the preparation of glyoxal (ethane-1,2-dione) from glycol. It is also used as a prime component of Mecke reagent, which identifies alkaloids and compounds.
End-use Industries of Selenic Acid
- Based on end-use industry, the global selenic acid market can be divided into chemical, pharmaceutical, steel manufacturing, and others
- The steel manufacturing segment is estimated to constitute major share of the global selenic acid market in the near future. Selenic acid is widely used in the cold bluing process of steel to protect it from rust.
- Complicated or small steel parts (black/dark gray steel) are coated with selenic acid solution to avoid rust. Selenic acid is also added to chromium-plating baths to improve corrosion protection from pitting, blistering, and rusting of plated automobile components.
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Asia Pacific Expected to Hold Prominent Share of Global Selenic Acid Market
- In terms of geography, the global selenic acid market can be split into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa
- Asia Pacific accounted for major share of the global selenic acid market in 2018, led by the presence of large chemical manufacturers in the region. The market in Asia Pacific is likely to expand at a rapid pace during the forecast period, due to the rise in industrialization in countries such as China, Japan, and India.
- Increase in production capacity of steel manufacturing plants and the advent of new production techniques are expected to provide an impetus to steel production in Asia Pacific in the near future
- Growth in adoption rate of selenic acid in the steel manufacturing industry is anticipated to drive the selenic acid market in in the region during the forecast period
- North America and Europe also held significant share of the global market in 2018, owing to increase in demand for selenic acid in the pharmaceutical industry in these regions
Key Players in Market:
Various grades of selenic acid are produced by manufacturers. Most of the manufacturers provide selenious acid in USP or industrial grade that is used by pharmaceutical and other chemical industries. Research and development in the field of molecular biology grade is taking place. Major players have been focusing on maximizing sales by distributing their products through effective distribution channels. Key players operating in the global selenic acid market include:
- Central Drug House (P) Ltd.
- Santa Cruz Biotechnology, Inc.
- DNS Fine Chemicals & Laboratories Pvt. Ltd.
- FINETECH INDUSTRY LIMITED
- Finoric LLC
- Hefei TNJ Chemical Industry Co., Ltd.
- Omkar Speciality Chemicals Ltd.
- Satyam Pharma-Chem Pvt. Ltd.
- Sellwell(Group) Chemical Factory
- Strem Chemicals, Inc.
Global Selenic Acid Market: Research Scope
Global Selenic Acid Market, by Fiber
- USP Grade
- Molecular Biology Grade
- Reagent Grade
Global Selenic Acid Market, by End-use Industry
- Steel industry
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Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
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2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.