Increasing awareness regarding HPPO process is expected to drive the Global Specialty Oxidant Market in the next few years. Rising demand from end use industry such as paper & pulp for Specialty Oxidant, where hydrogen peroxide find usage in de-inking and bleaching of the paper and pulp, is expected to boost the market growth. This growth will be supported by increasing demand for paper and paper products across the institutional sector coupled with growing demand of flexible packaging material in the packaging industry. However, growth of electronic media and digitalization of information in the recent years might hinder the paper & pulp market to an extent, which in turn may affect the Specialty Oxidant market growth.
Specialty Oxidants such as sodium chlorate and hydrogen peroxide are strong oxidizing agents, and are employed predominantly to oxidize organic and inorganic compounds. Specialty Oxidants are used for an array of application across a broad spectrum of industries including textiles, paper & pulp, health care & personal care. Sodium chlorate is also used as an oxidant in chemical synthesis; in the mining industry for the extraction of vanadium and uranium. Additionally, hydrogen peroxide is used as a raw material for the production of propylene oxide and is widely acceptable in hydrogen propylene oxide (HPPO) process.
The Major Players Operating in the Specialty Oxidant Market include are 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 and others.
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Specialty Oxidant Market is divided on the basis of Type, Application and End Use Industries.
Based on Type, the market is segmented into sodium chlorate, hydrogen peroxide, and others.
On the basis of Application, the market is segmented into defoliant, bleaching, propulsion, cleaning & extraction, and others. Bleaching is widely used application in various end use industries and as an application is expected to account for the largest value share followed by propulsion and cleaning & extraction. Based on end use industries, the market is segmented into healthcare & personal care, wastewater & water treatment, food processing, pulp & paper, textile, and others. Pulp & paper industry is predicted to hold around 30% of the Global Specialty Oxidant Market and is anticipated to continue its dominance in the upcoming years. With increasing demand for recycled paper in the packaging industry this sector is expected to register a significant CAGR during the forecast period. Rising demand of propylene oxide in the production of numerous commercial products such as synthetic lubricants, flame retardants, drilling chemicals for oil fields, and others is expected to propel the demand for propylene oxide, which in turn will witness substantial demand for specialty oxidants. Growing awareness about environmental protection and government mandating industrial waste water treatment prior to disposal is expected to drive market for Specialty Oxidants over the forecast period. Furthermore, increasing usage of Specialty Oxidant as a cleaning agent for etching printed circuit boards in the electronics industry is expected to influence the overall market growth of Specialty Oxidants.
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Asia Pacific is anticipated to be the largest market for Specialty Oxidant followed by Europe and North America on account of increasing demand from pulp & paper, textile, electronics among others. Emerging countries such as India, China, and Malaysia are the fastest growing market for Specialty Oxidant, and is predicted to grow with the same pace in the near future. Increasing economic growth rate, ease in the availability of raw material, and competitive production costs are also the important factors further improving the growth of Specialty Oxidant Market in the Asia Pacific region. Europe Specialty Oxidant Market is expected to witness a steady growth with UK and Germany being major contributor due to healthcare & personal care and pulp & paper industry expansion. North America is predicted to witness a substantial growth over the forecast period due to growing demand for mild bleaching agent in textile sector.
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