Specialty Oxidants Market Overview
Specialty oxidants are chemicals used in the elimination of one or more electrons from reactants during a reaction. They have applications in pulp & paper, textile, wastewater & water treatment, personal care, and healthcare industries. The global specialty oxidants market report by Market Research Future (MRFR) contains various merits and demerits of the industry as well as novel trends for the period of 2018 to 2023 (forecast period). The impact of the COVID-19 pandemic has been thoroughly analyzed and its impact on the industry has been noted in the report.
Competition Outlook
Solvay, Akzo Nobel N.V., Evonik, Aditya Birla Chemicals, Gujarat Alkalies and Chemicals Ltd, MITSUBISHI GAS CHEMICAL COMPANY, INC, and Arkema Group are noteworthy players of the global specialty oxidants market.
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Market Scope
The global specialty oxidants market is poised for good returns during the forecast period due to the need for these chemicals in bleaching and de-inking in recycling of paper. The need for recycled paper due to environmental awareness among the masses will drive the market demand significantly. The need for these chemicals in personal care and healthcare sectors can bode well for the market. In addition, investments in wastewater and water treatment, foods, and electronic industries will fuel market demand over the coming years.
The negotiation between countries and free trade agreements between heavyweights such as the U.S. and countries in Europe can drive the sales of specialty oxidants. Revival of the real estate sector and automotive industry in the U.S. is a prime opportunity for the global specialty oxidants market to thrive successfully.
Segmentation
The global Specialty Oxidants Market is segmented based on type, application, and end use industries.
Based on type, the market is segmented into sodium chlorate, hydrogen peroxide, and others.
By application, the market is segmented into cleaning & extraction, defoliant, bleaching, propulsion, and others. The bleaching segment is the largest segment and can dominate the market till 2023.
Based on end use industries, the market is segmented into pulp & paper, healthcare & personal care, wastewater & water treatment, textile, food processing, and others. Pulp & paper accounted for 30% share in the global specialty oxidants market and can drive the market growth due to interest in recycled paper.
Regional Analysis
The global specialty oxidant market is divided into five regions namely — Asia Pacific (APAC), Europe, Latin America, North America, and the Middle East & Africa (MEA). Among the aforementioned regions, the APAC specialty oxidants market is anticipated to grow at the highest CAGR during the forecast period due to the rising demand from end use industries such as pulp & paper, textile, among others. The demand is expected to witness an upswing in developing countries such as India, Japan, China, and Bangladesh due to growth in food processing and water treatment sectors.
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Europe is the second-largest region of the specialty oxidants market. European countries such as the U.K., Italy, and Germany can contribute to the market revenue due to demand for foods and beverages. Rise in consumer spending and the expansion of paper & packaging in the European region is predicted to spur demand of specialty oxidants.
In addition, North American countries such as Canada, U.S and Mexico are contributing regional market growth. Latin American countries such as Brazil, Chile, and Colombia are also predicted to drive market growth due to change in business models and investments by end-use industries. Lastly, the MEA market is expected to grow significantly due to increasing number of water treatment projects including desalination in countries of Saudi Arabia, United Arab Emirates (UAE), and Qatar.
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