Guanidine Market Size, Trends & Growth Opportunity | 2031

Report Description

Guanidine Market Outlook

The global guanidine market was valued at USD 362.8 million in 2022 and is projected to reach USD 465.0 million by 2031, expanding at a CAGR of 2.8% during the forecast period. The guanidine market is anticipated to grow substantially during the forecast period, owing to factors such as rise in the consumption of raw material used in cosmetics, detergents, and textiles, the guanidine carbonate market is witnessing an increase in demand. The guanidine market is segmented into types, applications, and regions.

An increasing number of strategies such as mergers & acquisitions, agreements, partnerships, and product launches among companies to establish themselves as manufacturers of guanidine are anticipated to create lucrative opportunities in the market in the near future. The rising adoption of various strategies by market players to increase their presence and share in the market is expected to create growth opportunities in the market.

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Macro-economic Factors

Production & Supply

Both supply and demand for guanidine are rising. Bulk of the total production is consumed in the pharmaceutical industry and production of pesticides. During the COVID-19 outbreak, the supply chain was disrupted, as global lockdown was imposed by governments which caused shutdown of manufacturing plants; however, the guanidine market was positively affected, as guanidine was considered as an essential good for the production of drugs which is expected to drive the market.

Government Regulations

Political factors affect regulations and laws that indirectly affect the market. Governments, along with many regulatory bodies who are concerned with environmental factors, established stringent rules and regulations regarding the manufacture and production of guanidine, as it helps in production of cosmetics and drugs. In developing countries, governments and key market players are continuously funding for developing advanced products through guanidine, which is estimated to drive the market.

Coronavirus

COVID-19 has positively impacted on the market owing to the rising adoption of guanidine in oral drug for treatment of muscle weakness. COVID-19 had a positive impact on the market, due to increase in supply and demand for pharmaceutical industry. Rapid spread of coronavirus had a major impact on global markets, as major economies of the world are in lockdown due to the pandemic.

Hence, all the consumer markets started to show zero interest towards purchasing cosmetics goods; however, demand for essentials goods increased exponentially. In the lockdown, all essential goods and cargos are allowed to move around interstate, which is driving the demand for guanidine carbonate.

The COVID-19 pandemic is expected to boost the growth of the market; however, the demand for guanidine in the pharmaceutical industry for production of drugs positively affected the market.

Guanidine Market Dynamics

Growing Demand for Pharmaceutical Industry

Pharmaceutical grade is the primary market for guanidine carbonate. Both ultrapure guanidine hydrochloride and guanidine thiocyanate are used as protein denaturants in the development and production of biopharmaceuticals and their generic versions called biosimilars, due to their chaotropic character.

In addition, they are useful for the extraction of DNA and RNA in molecular diagnostics. Guanidine is used in antibiotic drugs such as Streptomycine, trimethoprim (mainly used for urinary tract infection) and Chlorhexidine are the guanidine derivatives used for antibiotic drugs.

Polyhexamethylene biguanidine is used as a disinfectant for swimming pools, fabrics conditioning, and wound care. Pyrrolidine Bis-cyclic guanidine’s are reported to be active against gram-positive methicillin-resistant pathogens staphylococcus aureus, which is expected to drive the guanidine market during the forecast period.

Rising Demand in Cosmetics Industry

Cosmetic product industry has been the primary market for guanidine carbonate. Guanidine carbonates are mainly used as raw materials in the cosmetic industry. Cosmetics comprise a range of products that are used for face and body care or to enhance or change the appearance of the face or body. These products include skin care, personal care, cosmetics, and fragrance.

A vast array of cosmetics is available, ranging from shampoo to moisturizer to lipstick. Each sub-category of cosmetics has its own characteristics, however, the products are generally formulated using a mixture of chemical compounds derived from natural sources or created synthetically.

Growing demand for cosmetic products is expected to increase the demand for guanidine, thereby promoting the growth of the guanidine market.

Market Restraint

Health Hazards caused by Guanidine

Workers need to take certain measures under consideration such as doing work without raising dust, keeping away from naked flames/heat, performing operations in the open/under local exhaust/ventilation or with respiratory protection, removing contaminated clothing immediately, and always using clean uncontaminated clothing. Other measures include thoroughly cleaning/drying the installation before use, avoiding contact of substance with water, and keeping containers tightly closed in working areas, which is restraining the market.

Market Opportunity

Rising Applications in Automobile Airbag System

An airbag is a vehicle safety device, and it prevents the driver and passenger from striking the steering wheel or a window. The airbag is designed to only inflate in moderate to severe frontal crashes. Sodium azide is the chemical that is found in automobile airbags.

It is used in automobile airbags to produce inflation of the airbag upon impact. After deployment, sodium azide is converted to nitrogen gas. Sodium azide interferes with cellular respiration and aerobic metabolism, preventing cells from using oxygen.

The central nervous system and the cardiovascular system are sensitive to acute sodium azide poisoning. In comparison to sodium azide, guanidine nitrate is easier to handle and not as toxic as sodium azide.

The development of a guanidine nitrate-based airbag component improves the safety during manufacturing and transportation of airbags and reduces the environmental concerns of disposal and is expected to create opportunities for market players are creating opportunities for the market.

Scope of Guanidine Report

The report on the Global Guanidine Market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Segmental Outlook

Based on types, the market is classified into guanidine nitrate, guanidine hydrochloride, guanidine carbonate, and others. The guanidine nitrate segment is anticipated to expand substantially during the forecast period owing to the rising demand for guanidine nitrate in manufacturing of pesticides for agricultural applications.

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On the basis of applications, the market is segregated into pharmaceuticals, pesticide, and dye. The pharmaceutical segment is expected to grow considerably during the forecast period due to the growing adoption of guanidine and its substrates for application in pharmaceutical industry for manufacturing of medicines.

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Regional Outlook

Based on regions, the market is classified as North America, Europe, Asia Pacific, Latin America, Middle East & Africa. The Asia Pacific region is expected to gain significant share of the guanidine market owing to the demand of guanidine from countries such as South East Asia are registering high growth due to increased demand for detergent, chemicals, pharmaceutical, and other products. Also, Growing urbanization and increasing demand for clothes raises the demand for detergents, which eventually increases the demand for guanidine.

The Europe region is expected to grow at a rapid pace during the forecast period, due to rising consumption of guanidine carbonate in the cosmetics industry in Europe, which is likely to drive the guanidine market during forecast period.

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Key Benefits for Industry Participants & Stakeholders

• In-depth Analysis of the Global Guanidine Market
• Historical, Current and Projected Market Size in terms of Value
• Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
• Industry Drivers, Restraints, and Opportunities Covered in the Study
• Recent Industry Trends and Developments
• Competitive Landscape & Strategies of Key Players
• Neutral Perspective on Global Guanidine Market Performance