Bleaching Agent Market Outlook 2031
The global bleaching agent market size was USD 902.61 Million in 2022 and is estimated to reach USD 1.46 Billion by 2031 expand at a healthy CAGR 5.5% during the forecast period, 2023–2031. The growth of the market is attributed to the extensive applications of bleaching agents in various industries.
Bleaching agent is a chemical compound that whitens the fabric or fiber through chemical reactions. It is generally used as an oxidizing dying agent. Bleaching agents are used in a variety of applications, including color, material or water change, textile disinfection, sewage control, stain removal, and deodorization of substrates. It is relatively volatile chemical, therefore, when inhaled it causes irritation in the nose.
This agent is also used in the food and beverage industry as it acts as microbiological controller for washing and cleaning fruits & vegetables and brewing & bottling.
Bleaching Agent Market Trends, Drivers, Restraints, and Opportunities
- Increasing number of applications for chlorine-based bleaching agent is expected to propel the growth of the market.
- Rising demand for clean water, driven by quick urbanization and industrial development, can boost the market growth.
- Growing adoption of bleaching agent in the food & beverage industry is estimated to boost the market growth.
- Stringent government regulations can potentially hamper the revenue of the market growth.
- The COVID-19 outbreak hampered the production of bleaching agent across the globe. However, the relaxation in trade activities is expected to help the market recover soon.
- Ongoing research & development (R&D) of bleaching agent for soil cultivation is expected to positively influence the growth of the market.
Scope of The Bleaching Agent Market Report
The report on the bleaching agent market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Bleaching Agent Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Product Types (Chlorine, Sodium, Calcium, Peroxide, and Other Product Types), End-Users (Pulp & Paper, Textile, Construction, Electrical & Electronics, Water Treatment, Healthcare, and Other End-users)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Arkema; Dow Chemical; Evonik Industries AG; Kemira; and Clariant
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Bleaching Agent Market Segment Insights
Chlorine segment is expected to grow at a robust rate
Based on product types, the bleaching agent market is divided into chlorine, sodium, calcium, peroxide, and other product types. The chlorine segment is expected to grow at a robust rate during the forecast period owing to increasing demand for chlorine in swimming pools and water park themes.
Additionally, after the outbreak of COVID-19, major water parks are re-opening with 50% capacity, thus, the market of bleaching agent is anticipated to spur the market segment growth. However, the calcium segment is anticipated to hold a large share of the market in the coming years due to rising use of calcium in bakery applications to improve its structure and increase the elasticity.
Textile segment is projected to expand at a healthy CAGR
On the basis of end-users, the market is segregated into pulp & paper, textile, construction, electrical & electronics, water treatment, healthcare, and other end-users. The textile segment is projected to expand at a healthy CAGR during the forecast period owing to increasing use of bleaching agent in laundry services as part of bleaching process.
On the other hand, the water treatment segment is anticipated to account for a major market share during the forecast period owing to increasing government investment in wastewater treatment.
Asia Pacific is anticipated to hold a large market share
In terms of regions, the bleaching agent market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to constitute a key share of the market during the projected period owing to rapid growth of the industrialization. However, the market in Middle East & Africa is anticipated to expand at a steady rate due to increasing number of construction industries.
Segments
The global bleaching agent market has been segmented on the basis of
Product Types
- Chlorine
- Sodium
- Calcium
- Peroxide,
- Other Product Types
End-Users
- Pulp & Paper
- Textile
- Construction
- Electrical & Electronics
- Water Treatment
- Healthcare
- Other End-users
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the bleaching agent market are Arkema; Dow Chemical; Evonik Industries AG; Kemira; and Clariant. Industry players are engaging in R&D activities to create a competitive advantage in the market.
In August 2021, Evonik Industries AG announced that it is upgrading its Shanghai site for expanding its R&D activities in China.
In May 2020, Kemira announced a long-term extension of its bleaching chemicals supply contract with UPM-Kymmene Oyj, a Finland-based forest industry, in Uruguay.
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