Specialty Oxidants Market – Overview
Specialty oxidants has grown considerably in the past year due to its wide usage of a bleaching agent. Market Research Future, a firm which specializes in market reports related to the Chemicals and Materials sector among others, recently published a report on this market. The industry is expected to demonstrate a high growth rate in terms of CAGR rate and will achieve high levels of revenue in the forecast period.
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Their application in the electronics, paper industry and healthcare industry has led to the development of the specialty oxidants sector radically. Increase in level of personal consumer products demand has also prompted the growth of the sector. Higher level of disposable income availability has been a key factor in the development of this industry. Low costs of setting up manufacturing facilities has attracted increased consumer interest in the sector.
The industry for global specialty oxidants is divided on the basis of type, application, end use industries, and regions. The types present in the industry are sodium chlorate, hydrogen peroxide, and others. The applications are segmented into defoliant, bleaching, propulsion, cleaning & extraction, and others. The bleaching based segment is the biggest segment as compared to other applications. The end use industries in the market are categorized into healthcare & personal care, wastewater & water treatment, food processing, pulp & paper, textile, and others. The region for the industry is divided into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
Detailed Regional Analysis:
Among the regions covered in the report, Asia Pacific market is projected to develop at a maximum CAGR during the forecast period owing to the escalating demand from end use industries which are pulp & paper, textile, among others. The demand for sector is expected to surge in developing nations such as India, Japan, China, and Bangladesh due to rising food processing and water treatment sector. Moreover, increasing demand for eco-friendly specialty oxidant such as Hydrogen Peroxide Market along with the increasing production volume of paper & packaging caused the growth of pulp & paper market and has further driven the demand for specialty oxidants in near future. Asia Pacific has considerably developed as the largest market for specialty oxidant followed by Europe and North America. European countries like Italy, Germany, and UK have established themselves as a prominent consumer market and are forecasted to witness steady growth over the forecast period.
Rising consumer spending and purchasing power with the expansion of paper & packaging in the European region is expected to raise the demand for specialty oxidant. Latin American countries such as Brazil, Chile, and Colombia are also anticipated to observe moderate growth with the introduction of new technologies and new business models. In the Middle East & Africa, the industry is expected to grow significantly due to an increasing number of water treatment projects including desalination plants in countries such as United Arab Emirates (UAE), Qatar, and Saudi Arabia. Moreover, major players are exploring the Middle East market due to the amplified demand from wastewater & water treatment industry.
Global Competitive Analysis:
Businesses are aiming to seize a substantial share of the market segment as quick as possible. Experimentation with various advantage points is being seriously considered and implemented. The industry players in the segment are effectively utilizing their primary resources to initiate long lasting growth changes. A trend of volume-driven growth has been observed in the market of late with the development of different varieties of product types. The sector is undergoing considerable transformation which has accelerated the growth pace of the sector. The top longstanding growth opportunities for this sector can be harnessed by ensuring continuous process improvements and sustaining financial flexibility to invest in the optimal strategies.
The prominent players are Akzo Nobel N.V (the Netherlands), Aditya Birla Chemicals (India), Gujarat Alkalies and Chemicals Ltd (India), Evonik (Germany), Arkema Group (France) and Solvay (Belgium) among others in the specialty oxidant market.
Jan 2018 Dutch chemicals company AkzoNobel NV is holding talks with multiple parties over the potential sale of their specialty chemicals business. The consultations are part of the group’s strategy, which were announced in April last year to separate their specialty chemicals operations as a new entity and focus on its paints and coatings business with “fit-for-purpose” structure and processes. The company is following a dual-track process for the spinoff, private sale or legal demerger.
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