Global Specialty Oxidants Market - 2020-2027
Specialty oxidants are the strong oxidizing agents used in variety of functions such as bleaching, and coating during the manufacturing of specialty pulp & papers, textile, healthcare and personal care products. Some of the speciality oxidants consist of sodium chlorate as an effective defoliant/desiccant for agricultural industry applications, hydrogen peroxide used for pulp bleaching in water treatment and food disinfection.
Specialty oxidants are widely acceptable in hydrogen propylene oxide (HPPO) process and also used as raw materials for the production of propylene oxide. Furthermore, escalating demand for specialty oxidants is increased in various applications including toothpaste, sterilization, sanitizer, bleaching and many more. The global specialty oxidants market valued USD XX million in 2019 and it is expected to grow at a CAGR of XX% to reach USD XX million by 2027.
The market is driven by the rising demand of the speciality oxidants for the paper & pulp, waste water treatment, healthcare and personal care industries. Speciality oxidants are widely used in the waste water treatment facilities and it overcomes increasing problem with the presence of toxic chemicals and provides disinfection. The speciality chemicals demand is increasing with rising usage in the flexible packaging across the industrial, residential and commercial level.
There is a rise in the adoption next generation advanced innovative solutions with the help of the speciality oxidants for the healthcare & personal care products including household and cleaning products which created huge opportunity for this market. For instance on 9th Jan 2020, BASF SE strengthens its business related to water-soluble polyacrylates for use in household and commercial cleaning products and industrial applications which benefit expanded capacity in specialty chemicals and oxidants.
The global specialty oxidants market is segmented based on types, application, end-user and region.
In terms of type the global specialty oxidants market is bifurcated into sodium chlorate, hydrogen peroxide and others. Among this hydrogen peroxide segment has the highest market share in 2019, owing to increase in the demand for the healthcare and personal care industry. Due to the covid-19 pandemic the sale of the hydrogen peroxide made oxidizing speciality chemicals has drastically increased as it is used as surface disinfectant to kill germs and brighten the surface.
Similarly, sodium chlorate segment is also growing at fastest pace owing to increasing demand of the oxidizing & bleaching agent for paper & pulp, leather tanning and finishing agent in the textile industry as a=well as used in explosives, matches, and fireworks.
Depending on the application, global specialty oxidants market is divided into defoliant, bleaching, propulsion, cleaning & extraction and others. Among this bleaching segment has the highest market share in 2019, this is due to increase in the demand of the bleaching agent in the paper & pulp as well as personal care and healthcare industry. According to the Environmental Paper Network Organization in 2014, global paper & pulp industry is increasing due to surge in the consumption which is increasing at the rate of 400 million tonnes per year.
Similarly, propulsion, cleaning & extraction and defoliant segments are also growing at faster pace owing to rising utilization of the cleaning & extraction agents during the covid-19 pandemic has driven the speciality oxidants market. Further several leading players are launching the speciality chemicals oxidizing agent for producing the personal care products. For instance, on 26th June 2018, Diversey Care launched oxivir 1 as a disinfectant cleaner wipes. It was designed with the help of accelerated hydrogen peroxide (AHP) which is used against bacteria, enveloped and non-enveloped viruses, and fungi.
Depending upon the end-user, the global speciality oxidants market is divided into healthcare & personal care, wastewater & water treatment, food processing, pulp & paper, textile and others. Among this food processing segment has the highest share in2019,, owing to increase in the demand the food and beverages processing industry with surge in the global sale of packaged food products.
As the food processing segment has the highest market share in 2019, owing to increasing the consumption of the packaged food and beverages around the globe. According to the Food and Agriculture Organization (FAO) food and beverage sector market including farmers, food processing companies, retailers and wholesalers is the world's largest market with valued around USD 12.5 trillion equal to 17% of world's GDP in 2013.
Similarly, healthcare & personal care, wastewater & water treatment, pulp & paper, and textile segments are also growing at faster pace owing to surge in the adoption of speciality oxidants for healthcare and personnel care products such as sanitation, bleaching, and among others during the covid-19 pandemic.
By region, the global specialty oxidants market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East, and Africa. Among all of the regions, Asia-Pacific is the dominated region for the global specialty oxidants market and expected to grow at the highest CAGR during the forecasted period due to presence of leading manufacturers with growing demand in the end-user industries including healthcare, food processing etc followed by North America region.
North America is the also growing at faster pace for the specialty oxidants market, owing to rising utilization of the healthcare and personal care products including cleaning agents, surface disinfectants due to prevalence of the covid-19 pandemic.According to the Environmental Paper Network Organization, the paper consumption in China, Japan, USA and Europe was registered at around 106 million tons, 27 million tons, 71 Million tons and 92 million tons respectively which propels the demand of speciality oxidants in the paper & pulp industry.
The global specialty oxidants market is highly competitive with the presence of several international and local markets. 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.
Companies are entering into the collaborations, acquisitions, mergers, and licensing for increasing their market penetration to develop the advanced technology reactors. For instance, on 15th May 2019, Arkema acquired ArrMaz, a US-based leader in specialty surfactants for US$ 570 million. This acquisition has driven growth of the high performance materials division of the company. Further on 11th August 2018, Evonik acquired Peroxychem for US$ 625 million. This acquisition has strengthened the portfolio of Evonik related to the hydrogen peroxide based chemical products.
*The global specialty oxidants market report will provide access to approximately 66 market data tables, 58 figures, and 227 pages.