Dicyandiamide Market will Grow at a Lucrative 8.5% CAGR During 2018-2026
Dicyandiamide (DCD), which is also known as 2-Cyanoguanidine, is a alkaline, hydrophilic white crystalline compound. Dicyandiamide is primarily used as raw material for active pharmaceutical ingredients production for making anti-diabetic drugs. It is also used as a curing agent in epoxy resins and laminates for circuit boards and adhesives. It is also used in production of organic chemicals, which include, water treatment chemicals, slow and controlled nitrogen release fertilizers, dye fixing agents, and pharmaceuticals. Dicyandiamide are of different grades based on purity. The grades include pharmaceutical grade, electronic grade, industrial grade, and others. Currently, pharmaceutical grade dicyandiamide is mainly used compared to other types. The dicyandiamide market is expanding at a significant rate. Asia Pacific is anticipated to dominate the market during the forecast period, followed by North America and Europe.
Diabetes is one of the most common and rapidly increasing diseases across the globe. Diabetes is often referred to by doctors as diabetes mellitus. More than 400 million people across the globe are currently suffering from diabetes mellitus. Approximately 552 million people are anticipated to suffer from diabetes by 2030. Type 2 diabetes is the most common type and accounts for more than 90% of all cases of diabetes. Rise in diabetic population across the globe is ascribed to the rise in urbanization, changing population, increasing prevalence of obesity, and lack of physical activity.
The information Presented in this Review is Based on Press-Release by TMR
Dicyandiamide is primarily used in the production of active pharmaceutical ingredients (APIs), which are used in production of metformin, a preferred drug for the treatment of type 2 diabetes mellitus. Metformin is also used in the treatment of excess weight and obesity. Metformin improves glucose tolerance in diabetic patients, lowering basal and postprandial plasma glucose. Asia Pacific is the key metformin producing and exporting region across the globe. Hence, rising demand for dicyandiamide in this region is expected to drive the dicyandiamide market during the next few years.