Market Overview
MRFR (Market Research Future) projects the bleaching agents market to procure a tremendous growth rate from 2020 to 2027 (analysis period).
Top Boosters and Primary Deterrents
Bleaching agents are used extensively as antiseptics that are applied on bruises and skin cuts to prevent infections. They also find usage in mouth rinse, given their ability to get rid of mucus or mouth irritation and various oral infections. The agents’ high usage in the mentioned applications is due to its ability to release oxygen that results in foaming on the cut and bruised skin, which helps remove the dead skin and ensure the wound’s safety from infection. In addition to this, bleaching agents like hydrogen peroxide have extensive application range in the wastewater treatment sector, since it is a significant oxidizing agent and is also versatile and eco-friendly. The surging use in the bakery sector and in a variety of convenience food products could be a major opportunity for the vendors in the ensuing years.
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Intense competition within the world market space has encouraged numerous product launches, followed by multinationals adopting process reforms, project expansions and patented technologies as key growth strategies. Many of the market participants generally establish long-term alliance and agreements with regional healthcare, personal care, textile, chemical and wastewater treatment manufacturing vendors for sustainable business and capture a bigger share in the global industry. Players are also increasingly focusing on bolstering their production capacity to meet with the rising requirements of the end-use industries. Extensive research activities are also another strategy majorly adopted by the renowned firms active in the worldwide industry.
Market Segmentation
The different types of bleaching agents are chlorine dioxide, hydrogen peroxide, azodicarbonamide, acetone peroxide, ascorbic acid, and more. Emerging opportunities for the hydrogen peroxide segment with rising use in wastewater treatment along with the electronic sector in several Asian economies could create business opportunities in the approaching years.
Bleaching agents have applications in convenience food, bakery, dairy, and others.
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Regional Study
Europe has remained the frontrunner in the worldwide market over the years and the region can continue to advance at a stunning pace over the given period. The market’s superlative performance can be accredited to the soaring product demand in the chemical and paper & pulp sectors. Fast industrialization and urbanization rates in India, Indonesia and many more countries also seem to have favored the manufacturing sector that produce bleaching agents like hydrogen peroxide. Surging use of paper in food packaging as well as hygiene tissue papers can also foster the market growth in the region. The soaring number of bleaching agent plants across the region can leave a positive impact on the market in the following years.
Asia Pacific’s fastest growth in the bleaching agents market can be credited to the burgeoning population, and the surge in Quick Service Restaurants. The rise in the urbanization rate and the mounting prevalence of worldwide food trends seems to be favoring the APAC market as well. Other reasons including soaring disposable incomes, stressful lifestyle, rise in the number of corporate workers, and the rural population migrating to urban locations raise the preference for convenience food products in the region. The demand is especially high for cheese as well as flour-based baked items including pizzas, bread, cakes, pastries, and burgers, which ultimately enhances the sales of bleaching agents.
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Key Firms
Notable contenders in the bleaching agents industry are Aditya Birla Chemicals (Grasim) (India), Peroxychem (US), Kemira Oyj (Finland), Hawkins, Inc. (US), Solvay Chemicals Inc. (US), Spectrum Laboratory Products, Inc. (US), BASF SE (Germany), Evonik Industries AG (Germany), Akzo Nobel N.V. (Netherlands), Gujarat Alkalies and Chemicals Ltd. (India), and more.
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