Global Specialty Oxidants Market Information- By Type (Sodium Chlorate, Hydrogen Peroxide), Application (Defoliant, Bleaching, Propulsion, Cleaning & Extraction), End Use Industries (Healthcare & Personal Care, Wastewater & Water Treatment, Food Processing, Pulp & Paper, Textile) and Region- Forecast Till 2023
— Specialty Oxidants Market – Overview
Specialty Oxidant, a type of chemical is a good electron receptor. It is extensively used in making of defoliants, bleaching agents, and in some processes like chemical synthesis among others. Hence, it finds its application across a range of end- use industries from healthcare & personal care, to wastewater & water treatments, and from food processing to pulp & paper and textiles. Simultaneously, it is also used as a cleaning and extraction agent in healthcare & personal care sectors. Specialty Oxidants play a significant role in the dying process in the textile industry.
Due to its extensive uses, Specialty Oxidant perceives an augmented demand from some of the prominent industries. Growing population coupled with the increasing urbanization worldwide, is presaging the growing demand for the three basic necessities of humans – Food including water, Shelter & clothing. This, further presages the surging demand for Specialty Oxidants in these sectors, defining its market landscape on the global platform in the years to come.
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According to the recently published report by Market Research Future (MRFR), the global market of Specialty Oxidant is booming and expected to gain further prominence over the forecast period (2017 – 2023). The market is estimated to perceive a voluminous growth by 2023, registering a phenomenal CAGR during the said period. The extensive demand for the product from the end-user industries such as Water Treatment, Healthcare, Food Processing, and textiles, among others drive the market growth.
Specialty Oxidants such as sodium chlorate and hydrogen peroxide are used in bleaching and de-inking processes applied to recycled paper in the paper industry. Therefore the growing recycled paper industry will foster the market growth of these oxidants. Furthermore, increasing consumption of Specialty Oxidants in the healthcare & personal care industry applications such as sterilization process, manufacturing of toothpaste, bleaching, sanitizer, will impact the market growth positively during the review period.
Global Specialty Oxidants Market – Competitive Analysis
The Market of Specialty Oxidants appears to be highly competitive and fragmented. With increasing industrialization and up-gradation, manufacturers are setting up facilities to meet the demand for Specialty Oxidants in the most efficient manner. High investments transpired into R&D are anticipated to impact the market positively.
Key Players strive to inculcate latest technical innovations in their procedure to increase the production and reduce the harmful factors. This industry is exclusively dependent upon the crude oil as a feedstock, hence volatility in the prices is the primary concern governing revenues for market players.
Industry/ Innovations/ Related News:
January 03, 2018 - The Travancore Cochin Chemicals Limited, Udyogamandal (TCC India), a public chemical company, undertaking owned Government of Kerala (India) announced that the company is aiming at 600-cr turnover (approx.88.6 mn USD) and to achieve the goal, it is expanding its production capacity. Venturing into export of caustic soda, TCC also installed capacity for caustic soda production is 57,750 tonnes and its derivatives including chlorine, hydrochloric acid, and sodium chlorate.
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Global Specialty Oxidants Market – Segments
The Specialty Oxidants market can be segmented into four key dynamics for the convenience of the report and enhanced understanding;
By Types: Comprises Sodium Chlorate, and Hydrogen Peroxide, among others.
By Applications: Bleaching, Defoliant, Propulsion, and Cleaning & Extraction, among others.
By End-Use Industries : Wastewater & Water Treatment, Healthcare & Personal Care, Food Processing, Pulp & Paper, and Textile, among others.
By Region: North America, Europe, APAC and Rest of the World.
Segment Bleaching accounts for the largest segment as compared to other applications.
Global Specialty Oxidants Market – Regional Analysis
Globally, the Asia Pacific region accounts for the leading market for the Specialty Oxidants, holding the largest market share. Factors such as ease of availability of raw material, low-cost labor, and increasing development strategies, fulfilling the demand for the product, drive the regional market growth.
Attributing to some of the burgeoning sectors in the region, such as textile, pulp & paper, among others, the region is estimated to retain its dominance in the global market during the assessment period.
Expected to upsurge due to the growing food processing and water treatment sector, the demand for specialty oxidant will drive the regional market growth to an extent. Surging demand for eco-friendly specialty oxidant such as hydrogen peroxide along with the increased production volume of paper & packaging, the market will resultantly drive the demand for Specialty Oxidants in the future.
The Europe region is expected to account for the substantial growth in the global market for Specialty Oxidant. Owing to the well-established end-use industries and rising expenditures on R&D and innovation in the countries like France, Germany, Italy, and the UK, the region is expected to witness a phenomenal growth during the assessment period. The resurged economy in the region, increasing consumer spending and purchasing power, provide impetus to the expansion of paper & packaging in the European region, will, in turn, drive the regional market growth during the forecast period.
North America market witnesses the significant market growth, owning a substantial market share. Owing to the resurging industrial sector and rising investments transpired to revitalize the textile industry, in some of the North American countries such as the US, Mexico, and Canada, the regional market is estimated to see significant growth during the review period.
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