The specialty oxidants market size is estimated to grow at a high CAGR of 5.7% during the predicted period.
Specialty oxidants are the most strong oxidizing agents that are used in a variety of applications like bleaching and coating during the manufacture of specialty pulp and paper, textile, healthcare, and personal care products. Some of the specialty oxidants consist of sodium chlorate, which is an effective defoliant or desiccant used for agricultural industry applications, hydrogen peroxide, which is used for pulp bleaching in water treatment and food disinfection. Specialty oxidants are widely used as a raw material for the production of propylene oxide. It is otherwise acceptable in the hydrogen propylene oxide process. Therefore the rising demand for specialty oxidants is increased in various sectors such as toothpaste, sterilization, sanitizers, bleaching and others. Specialty Oxidant Market growth provides a comprehensive analysis of the materials and chemicals industry; it analyzes and identifies changes in market conditions set to impact future business decisions by analyzing.
The outbreak of the Nobel virus COVID-19 pandemic had a massive impact on the on-trade segment and industries globally. There are no such industries that didn’t face a negative impact due to this pandemic except for the healthcare and medical industries. Due to strict regulations implemented by the government, there were partial lockdowns and shuts down all across the world. Due to the lack of transportation facilities, the supply chain was disrupted; hence there was a heavy demand but low supply, which negatively impacted the market growth and economy of the country. Manufacturers understand the strategies to revive from the current situation by means of improving their sales channels as well as product innovation. The duration of the virus outbreak remains a major factor in evaluating the overall impact of the pandemic. Somehow the global Specialty Oxidant market is expected to stabilize after 2021. The restrictions on the import and export of goods and lockdown measures taken by governments are key challenges exporters face during this pandemic.
The less availability and decrease in the number of functions of the chlorine bleaching agents during the estimated period is the major challenging factor for Specialty Oxidant market growth. Some other issues like damage to your eye, skin, and lungs become a challenging factor for the Specialty Oxidant market share and development. The second most challenging factor in the market was the decrease in consuming capacity of food products containing some chemicals as ingredients; this affected the growth of the Specialty Oxidants Market.
The rise in consumption of specialty oxidants such as hydrogen peroxide and sodium chlorate in bleaching can be a major opportunity to increase the specialty oxidant market value. The rise in demand for the pulp and paper industry increases the opportunity for growth. The chlorine-based bleaching is broadly used for wastewater treatment. It is largely used in bleaching drinking water and swimming pools, which raises the opportunities for specialty oxidant market growth.
Hydrogen peroxide is a very strong oxidizing agent. The chemical can be highly corrosive to the respiratory tract, skin and eyes. It should be handled properly; long-lasting use may irritate your skin and eyes or can cause bleaching of hairs. It is also not compatible with some raw materials such as copper alloys or heavy metals, which leads to self-accelerated thermal decomposition. Due to disruption in the supply chain, the market faced a heavy loss in the economy is also a restraining factor for the Specialty Oxidants Market Trends.
Cumulative Evaluation Of The Market
According to the specialty oxidants market analysis, the specialty oxidants market size is estimated to grow at a high CAGR of 5.7% during the predicted period. The versatility of the specialty oxidants in the applications like paper and pulp industries, wastewater treatment, home care, textile industries, food and beverage industries, electronic and pharmaceuticals and in order to tap these opportunities, the leading players are investing more in the production.
The Specialty Oxidant Market is divided on the basis of type, application, end-use industries, and regions.
On the basis of type, the market is divided into sodium chlorate, hydrogen peroxide, and others.
Under the application, the Specialty Oxidant Market is divided into defoliant, bleaching, propulsion, cleaning & extraction, and others. Bleaching-based is the largest segment as compared to other applications.
Under the basis of end-use industries, the market is categorized into healthcare & personal care, wastewater & water treatment, food processing, pulp & paper, textile, and others.
Under the basis of regions, the market is segmented into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
The Specialty Oxidants Market Share by End Use Industry (2016), (%)
The Specialty Oxidant Market is divided into five regions such as Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa. Among these regions, the Asia Pacific market is predicted to grow at the highest CAGR during the estimated period due to the increasing demand from end-use industries such as pulp & paper, textile, among others.
The demand for specialty oxidants is predicted to rush in developing countries such as India, Japan, China, and Bangladesh due to the rising food processing and water treatment sector. The increasing demand for eco-friendly specialty oxidants such as hydrogen peroxide, along with the increasing production volume of paper & packaging, resulted in the growth of the pulp & paper market and further operating the demand for specialty oxidants in upcoming times.
The Asia Pacific is known as the largest market for specialty oxidants which is followed by Europe and North America. European countries such as Italy, Germany, and the UK are developed as the main consumer market and are expected to have steady growth over the estimated period. The rising consumer spending and purchasing power with the expansion of paper & packaging in the European region are expected to rise demand for specialty oxidants.
The North American countries such as Canada, U.S and Mexico are contributing and are expected to continue in the regional market growth. Latin American countries such as Brazil, Chile, and Colombia are also expected to have medium growth with the introduction of new technologies.
In the Middle East & Africa, the market is predicted to grow importantly due to the rise in the number of water treatment projects, including desalination in countries such as the United Arab Emirates, Qatar, and Saudi Arabia.
Competitive Intensity Within The Industry
According to the Specialty Oxidants Market Forecast, the specialty oxidants market is highly competitive with the presence of several international and local markets globally. Product diversification, revenue generation, and opportunities intensify the market competition. Lanxess, BASF, Nouryon, Solvay, Aditya Birla Chemicals, Arkema Group, Mitsubishi Gas Chemical Company, Evonik, Gujarat Alkalies and Chemicals Ltd, and Kemira are the leading market players with significant market share. The companies are entering into collaborations, acquisitions, mergers, and licensing for increasing their market puncturing to develop advanced technology reactors.
Recent Market Developments
In 2021 Gujarat Alkalies and Chemicals Limited, a world leader in the production of specialty oxidants, and GAIL Limited partnered to establish a 500 KLD bioethanol plant. This plant will use broken rice as feedstock and will employ environmentally friendly technologies to create 500 KLD Bioethanol for use in gasoline blends. 135 KTPA protein-rich animal feed and 16.50 KTPA corn oil are estimated to be generated as by-products of this plant. This project is expected to result in annual foreign exchange savings of around USD 70 million. Apart from the cost savings, this initiative will create around 700 direct and indirect jobs. Long-term supply contracts for corn would boost corn planting by providing farmers with a sustained, multi-fold income from greater productivity and market security, which increase the Specialty Oxidants Market value.
This report includes all the data of the market, such as market overview, covid-19 analysis and how it affects the market, the key drivers, the market opportunities, the key drivers, the challenges that the market face, the market restraints, the market segmentation, the regional analysis, Specialty Oxidants Market Outlook, the competitive landscape, report overview and recent development of the market.
Key Industrial Segments
|Market Size||2030: Significant value|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Type, Application, End-Use Industry and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Akzo Nobel N.V (the Netherlands), Aditya Birla Chemicals (India), Gujarat Alkalies and Chemicals Ltd (India), Evonik (Germany), Arkema Group (France), MITSUBISHI GAS CHEMICAL COMPANY, INC (Japan), Solvay (Belgium) among others.|
|Key Market Opportunities||The increasing consumptions of specialty oxidants such as sodium chlorate and hydrogen peroxide in bleaching|
|Key Market Drivers||De-inking processes applied to recycled paper in the paper industry coupled with the recycled paper market growth|
Specialty Oxidants Market is predicted to grow at 3.80% CAGR through forecast period of 2020-2030
The forecast period for Specialty Oxidants Market research report is 2020-2030
Specialty Oxidants Market is dominated by APAC region.
De-inking processes applied to recycled paper in the paper industry coupled with the recycled paper market growth
Akzo Nobel N.V (the Netherlands), Aditya Birla Chemicals (India), Gujarat Alkalies and Chemicals Ltd (India), Evonik (Germany), Arkema Group (France), MITSUBISHI GAS CHEMICAL COMPANY, INC (Japan), Solvay (Belgium) among others.